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S-1 BIOTRICITY INC. NV 30-0983531 203 Redwood Shores Parkway Suite 600 Redwood City CA 94065 (904) 496-0027 Waqaas Al-Siddiq 203 Redwood Shores Parkway Suite 600 Redwood City CA 94065 (904) 496-0027 Non-accelerated Filer true false

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1. NATURE OF OPERATIONS Biotricity Inc. (formerly MetaSolutions, Inc.) (the “Company” or “Biotricity”) was incorporated under the laws of the State of Nevada on August 29, 2012. iMedical Innovations Inc. (“iMedical”) was incorporated on July 3, 2014 under the laws of the Province of Ontario, Canada and became a wholly-owned subsidiary of Biotricity through reverse take-over on February 2, 2016. Both the Company and iMedical are engaged in research and development activities within the remote monitoring segment of preventative care. They are focused on a realizable healthcare business model that has an existing market and commercialization pathway. As such, its efforts to date have been devoted to building and commercializing an ecosystem of technologies that enable access to this market.

<p id="xdx_808_eus-gaap--BusinessDescriptionAndBasisOfPresentationTextBlock_z0N6j7Isofo1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">2. BASIS OF PRESENTATION, MEASUREMENT AND CONSOLIDATION The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and are expressed in United States dollars (“USD”). The consolidated financial statements of the Company have been prepared on a historical cost basis except derivative liabilities which are carried at fair value. The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. Significant intercompany accounts and transactions have been eliminated. Reclassifications Certain amounts presented in the prior year period have been reclassified to conform to current period consolidated financial statement presentation. Interest expense related to debt principal, previously recorded as a selling, general and administrative expense in the consolidated statements of operations and comprehensive loss in the prior year, was reclassified as a non-operating expense. Going Concern, Liquidity and Basis of Presentation The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The Company is in the early stages of commercializing its first product and is concurrently in development mode, operating a research and development program in order to develop, obtain regulatory clearance for, and commercialize other proposed products. The Company has incurred recurring losses from operations, and as at March 31, 2023, had an accumulated deficit of $112,570,825 and a working capital deficiency of $6,440,566. Those conditions raise substantial doubt about its ability to continue as a going concern for a period of one year from the issuance of these consolidated financial statements. The consolidated financial statements do not include adjustments that might result from the outcome of this uncertainty. Management anticipates the Company will continue on its revenue growth trajectory and improve its liquidity through continued business development and after additional equity or debt capitalization of the Company. On August 30, 2021, the Company completed an underwritten public offering of its common stock that concurrently facilitated its listing on the Nasdaq Capital Market. Prior to listing on the Nasdaq Capital Market, the Company had also filed a shelf Registration Statement on Form S-3 (No. 333-255544) with the Securities and Exchange Commission on April 27, 2021, which was declared effective on May 4, 2021. This facilitates better transactional preparedness when the Company seeks to issue equity or debt to potential investors, since it continues to allow the Company to offer its shares to investors only by means of a prospectus, including a prospectus supplement, which forms part of an effective registration statement. As such, the Company has developed and continues to pursue sources of funding that management believes will be sufficient to support the Company’s operating plan and alleviate any substantial doubt as to its ability to meet its obligations at least for a period of one year from the date of these consolidated financial statements. During the fiscal year ended March 31, 2021, the Company closed a number of private placements offering of convertible notes, which have raised net cash proceeds of $11,375,690. During fiscal quarter ended June 30, 2021, the Company raised an additional $499,900 through government EIDL loan. During the fiscal quarter ended September 30, 2021, the Company raised total net proceeds of $14,545,805 through the underwritten public offering that was concurrent with its listing onto the Nasdaq Capital Markets. During the fiscal quarter ended December 31, 2021, the Company raised additional net proceeds of $11,756,563 through a term loan transaction (Note 6) and made repayment of the previously issued promissory notes and short-term loans. In connection with this loan, the Company and Lender also entered into a Guarantee and Collateral Agreement wherein the Company agreed to secure the Credit Agreement with all of the Company’s assets. The Company and Lender also entered into an Intellectual Property Security Agreement dated December 21, 2021 wherein the Credit Agreement is also secured by the Company’s right title and interest in the Company’s Intellectual Property. During the fiscal year ended March 31, 2023, the Company raised short-term loans and promissory notes, net of repayments of $1,476,121 from various lenders. During the fiscal year ended March 31, 2023, the Company raised convertible notes, net of redemptions of $2,355,318 from various lenders. BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars) As we proceed with the commercialization of the Bioflux, Biotres, and Biocare product development, we expect to continue to devote significant resources on capital expenditures, as well as research and development costs and operations, marketing and sales expenditures. Based on the above facts and assumptions, we believe our existing cash, along with anticipated near-term financings, will be sufficient to continue to meet our needs for the next twelve months from the filing date of this report. However, we will need to seek additional debt or equity capital to respond to business opportunities and challenges, including our ongoing operating expenses, protecting our intellectual property, developing or acquiring new lines of business and enhancing our operating infrastructure. The terms of our future financings may be dilutive to, or otherwise adversely affect, holders of our common stock. We may also seek additional funds through arrangements with collaborators or other third parties. There can be no assurance we will be able to raise this additional capital on acceptable terms, or at all. If we are unable to obtain additional funding on a timely basis, we may be required to modify our operating plan and otherwise curtail or slow the pace of development and commercialization of our proposed product lines. In December 2019, a novel strain of coronavirus (COVID-19) emerged in Wuhan, Hubei Province, China and spread globally, causing significant disruption to the global and US economy. On March 20, 2020, the Company announced the precautionary measures taken as well as announcing the business impact related to the coronavirus (COVID-19) pandemic. Though its operations have since returned to a normal state, the extent to which the COVID-19 pandemic may continue to affect the economy and the Company’s operations may depend on future developments.

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3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Revenue Recognition The Company adopted Accounting Standards Codification Topic 606, “Revenue from Contracts with Customers” (“ASC 606”) on April 1, 2018. In accordance with ASC 606, revenue is recognized when promised goods or services are transferred to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services by applying the core principles – (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to performance obligations in the contract, and (5) recognize revenue as performance obligations are satisfied. BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars) Both the Bioflux mobile cardiac telemetry device, and the Biotres device are wearable devices. The cardiac data that the devices monitor and collect is curated and analyzed by the Company’s proprietary algorithms and then securely communicated to a remote monitoring facility for electronic reporting and conveyance to the patient’s prescribing physician or other certified cardiac medical professional. Revenues earned are comprised of device sales revenues and technology fee revenues (technology as a service). The devices, together with their licensed software, are available for sale to the medical center or physician, who is responsible for the delivery of clinical diagnosis and therapy. The remote monitoring, data collection and reporting services performed by the technology culminate in a patient study that is generally billable when it is complete and is issued to the physician. In order to recognize revenue, management considers whether or not the following criteria are met: persuasive evidence of a commercial arrangement exists, and delivery has occurred or services have been rendered. For sales of devices, which are invoiced directly, additional revenue recognition criteria include that the price is fixed and determinable and collectability is reasonably assured; for device sales contracts with terms of more than one year, the Company recognizes any significant financing component as revenue over the contractual period using the effective interest method, and the associated interest income is reflected accordingly on the statement of operations and included in other income; for revenue that is earned based on customer usage of the proprietary software to render a patient’s cardiac study, the Company recognizes revenue when the study ends based on a fixed billing rate. Costs associated with providing the services are recorded as the service is provided regardless of whether or when revenue is recognized. The Company may also earn service-related revenue from contracts with other counterparties with which it consults. This contract work is separate and distinct from services provided to clinical customers, but may be with a reseller or other counterparties that are working to establish their operations in foreign jurisdictions or ancillary products or market segments in which the Company has expertise and may eventually conduct business. <p id="xdx_89B_eus-gaap--ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock_z3Pr8dHAbf3b" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The Company recognized the following forms of revenue for the fiscal years ended March 31, 2023 and 2022: SCHEDULE OF REVENUE RECOGNITION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49E_20220401__20230331_z17ghVA7hZeh" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20210401__20220331_zp6d5oK0mZm1" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--TechnologyFeesMember_z3CzkZSWYL8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; width: 64%">Technology fees</td><td style="width: 2%"> </td> <td style="text-align: left; width: 1%"> </td><td style="text-align: right; width: 14%">8,802,032</td><td style="text-align: left; width: 1%"> </td><td style="width: 2%"> </td> <td style="text-align: left; width: 1%"> </td><td style="text-align: right; width: 14%">5,904,393</td><td style="text-align: left; width: 1%"> </td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--DeviceSalesMember_zVIZeOwDjdIi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Device sales</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">837,025</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">995,876</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--ServiceRelatedAndOtherRevenueMember_zVJqZOwOg19e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Service-related and other revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">750,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zWeK19FIJzH" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">9,639,057</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,650,269</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> Inventories Inventory is stated at the lower of cost and market value, cost being determined on a weighted average cost basis. Market value of our finished goods inventory and raw material inventory is determined based on its estimated net realizable value, which is generally the selling price less normally predictable costs of disposal and transportation. The Company records write-downs of inventory that is obsolete or in excess of anticipated demand or market value based on consideration of product lifecycle stage, technology trends, product development plans and assumptions about future demand and market conditions. Actual demand may differ from forecasted demand, and such differences may have a material effect on recorded inventory values. Inventory write-downs are charged to cost of revenue and establish a new cost basis for the inventory. SCHEDULE OF INVENTORIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" id="xdx_494_20230331_zYsdKdEzWWsb" style="border-bottom: Black 1.5pt solid; text-align: center">2023</td><td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_494_20220331_zCytAsV2NDOl" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">2022</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" style="text-align: center">$ </td><td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">$</td><td style="text-align: center; font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--InventoryRawMaterialsAndSupplies_iI_maINzF7M_zHncu6RSZBLf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Raw material</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">1,186,735</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">468,454</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--InventoryFinishedGoods_iI_maINzF7M_zhnWDRCTnN75" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; text-align: left">Finished goods</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,150,271</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">374,470</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--InventoryNet_iTI_mtINzF7M_zo259qOUEoDj" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Inventories</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,337,006</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">842,924</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> Significant accounting estimates and assumptions The preparation of the consolidated financial statements requires the use of estimates and assumptions to be made in applying the accounting policies that affect the reported amounts of assets, liabilities, revenue and expenses and the disclosure of contingent assets and liabilities. The estimates and related assumptions are based on previous experiences and other factors considered reasonable under the circumstances, the results of which form the basis for making the assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. Significant accounts that require estimates as the basis for determining the stated amounts include share-based compensation, impairment analysis and fair value of warrants, promissory notes, convertible notes and derivative liabilities. BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0px"></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Fair value of stock options</td></tr> </table> The Company measures the cost of equity-settled transactions with employees by reference to the fair value of equity instruments at the date at which they are granted. Estimating fair value for share-based payments requires determining the most appropriate valuation model for a grant of such instruments, which is dependent on the terms and conditions of the grant. The estimate also requires determining the most appropriate inputs to the Black-Scholes option pricing model, including the expected life of the instrument, risk-free rate, volatility, and dividend yield. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Fair value of warrants</td></tr> </table> In determining the fair value of the warrant issued for services and issue pursuant to financing transactions, the Company used the Black-Scholes option pricing model with the following assumptions: volatility rate, risk-free rate, and the remaining expected life of the warrants that are classified under equity. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Fair value of derivative liabilities</td></tr> </table> In determining the fair values of the derivative liabilities from the conversion and redemption features, the Company used Monte-Carlo and lattice models with the following assumptions: dividend yields, volatility, risk-free rate and the remaining expected life. Changes in those assumptions and inputs could in turn impact the fair value of the derivative liabilities and can have a material impact on the reported loss and comprehensive loss for the applicable reporting period. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0px"></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Functional currency</td></tr> </table> Determining the appropriate functional currencies for entities in the Company requires analysis of various factors, including the currencies and country-specific factors that mainly influence labor, materials, and other operating expenses. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Useful life of property and equipment</td></tr> </table> The Company employs significant estimates to determine the estimated useful lives of property and equipment, considering industry trends such as technological advancements, past experience, expected use and review of asset useful lives. The Company makes estimates when determining depreciation methods, depreciation rates and asset useful lives, which requires considering industry trends and company-specific factors. The Company reviews depreciation methods, useful lives and residual values annually or when circumstances change and adjusts its depreciation methods and assumptions prospectively. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Provisions</td></tr> </table> Provisions are recognized when the Company has a present obligation, legal or constructive, as a result of a previous event, if it is probable that the Company will be required to settle the obligation and a reliable estimate can be made of the obligation. The amount recognized is the best estimate of the expenditure required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligations. Provisions are reviewed at the end of each reporting period and adjusted to reflect the current best estimate of the expected future cash flows. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Contingencies</td></tr> </table> Contingencies can be either possible assets or possible liabilities arising from past events, which, by their nature, will be resolved only when one or more uncertain future events occur or fail to occur. The assessment of the existence and potential impact of contingencies inherently involves the exercise of significant judgment and the use of estimates regarding the outcome of future events. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Inventory obsolescence</td></tr> </table> Inventories are stated at the lower of cost and market value. Market value of our inventory, which is all purchased finished goods, is determined based on its estimated net realizable value, which is generally the selling price less normally predictable costs of disposal and transportation. The Company estimates net realizable value as the amount at which inventories are expected to be sold, taking into consideration fluctuations in retail prices less estimated costs necessary to make the sale. Inventories are written down to net realizable value when the cost of inventories is estimated to be unrecoverable due to obsolescence, damage, or declining selling prices. BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Income and other taxes</td></tr> </table> The calculation of current and deferred income taxes requires the Company to make estimates and assumptions and to exercise judgment regarding the carrying values of assets and liabilities which are subject to accounting estimates inherent in those balances, the interpretation of income tax legislation across various jurisdictions, expectations about future operating results, the timing of reversal of temporary differences and possible audits of income tax filings by the tax authorities. In addition, when the Company incurs losses for income tax purposes, it assesses the probability of taxable income being available in the future based on its budgeted forecasts. These forecasts are adjusted to take into account certain non-taxable income and expenses and specific rules on the use of unused credits and tax losses. When the forecasts indicate that sufficient future taxable income will be available to deduct the temporary differences, a deferred tax asset is recognized for all deductible temporary differences. Changes or differences in underlying estimates or assumptions may result in changes to the current or deferred income tax balances on the consolidated balance sheets, a charge or credit to income tax expense included as part of net income (loss) and may result in cash payments or receipts. Judgment includes consideration of the Company’s future cash requirements in its tax jurisdictions. All income, capital and commodity tax filings are subject to audits and reassessments. Changes in interpretations or judgments may result in a change in the Company’s income, capital, or commodity tax provisions in the future. The amount of such a change cannot be reasonably estimated. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Incremental borrowing rate for lease</td></tr> </table> The determination of the Company’s lease obligation and right-of-use asset depends on certain assumptions, which include the selection of the discount rate. The discount rate is set by reference to the Company’s incremental borrowing rate. Significant assumptions are required to be made when determining which borrowing rates to apply in this determination. Changes in the assumptions used may have a significant effect on the Company’s consolidated financial statements. Earnings (Loss) Per Share The Company has adopted the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 260-10 which provides for calculation of “basic” and “diluted” earnings per share. Basic loss per share of common stock is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted earnings or loss per share of common stock is computed similarly to basic earnings or loss per share except the weighted average shares outstanding are increased to include additional shares from the assumed exercise of any common stock equivalents, if dilutive. The Company’s warrants, options, convertible promissory notes, convertible preferred stock, shares to be issued and restricted stock awards while outstanding are considered common stock equivalents for this purpose. Diluted earnings is computed utilizing the treasury method for the warrants, stock options, shares to be issued and restricted stock awards. Diluted earnings with respect to the convertible promissory notes and convertible preferred stock utilizing the if-converted method was not applicable during the periods presented as no conditions required for conversion had occurred. No incremental common stock equivalents were included in calculating diluted loss per share because such inclusion would be anti-dilutive given the net loss reported for the periods presented. BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars) Cash Cash includes cash on hand and balances with banks. <p id="xdx_84E_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_zFaOk6r9evR8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Foreign Currency Translation The functional currency of the Company’s Canadian-based subsidiary is the Canadian dollar and the US-based parent is the U.S. dollar. Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the exchange rate prevailing at the consolidated balance sheet date. Non-monetary assets and liabilities are translated using the historical rate on the date of the transaction. All exchange gains or losses arising from translation of these foreign currency transactions are included in net income (loss) for the year. In translating the financial statements of the Company’s Canadian subsidiaries from their functional currency into the Company’s reporting currency of United States dollars, consolidated balance sheet accounts are translated using the closing exchange rate in effect at the balance sheet date and income and expense accounts are translated using an average exchange rate prevailing during the reporting period. Adjustments resulting from the translation, if any, are included in accumulated other comprehensive loss in stockholders’ deficiency. The Company has not, to the date of these consolidated financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations. Accounts Receivable Accounts receivable consists of amounts due to the Company from medical facilities, which receive reimbursement from institutions and third-party government and commercial payors and their related patients, as a result of the Company’s normal business activities. Accounts receivable is reported on the consolidated balance sheets net of an estimated allowance for doubtful accounts. The Company establishes an allowance for doubtful accounts for estimated uncollectible receivables based on historical experience, assessment of specific risk, review of outstanding invoices, and various assumptions and estimates that are believed to be reasonable under the circumstances, and recognizes the provision as a component of selling, general and administrative expenses. Uncollectible accounts are written off against the allowance after appropriate collection efforts have been exhausted and when it is deemed that a balance is uncollectible. Fair Value of Financial Instruments ASC 820 defines fair value, establishes a framework for measuring fair value and expands required disclosure about fair value measurements of assets and liabilities. ASC 820-10 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820-10 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: ● Level 1 – Valuation based on quoted market prices in active markets for identical assets or liabilities. ● Level 2 – Valuation based on quoted market prices for similar assets and liabilities in active markets. ● Level 3 – Valuation based on unobservable inputs that are supported by little or no market activity, therefore requiring management’s best estimate of what market participants would use as fair value. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars) Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments or interest rates that are comparable to market rates. These financial instruments include cash, accounts receivable, deposits and other receivables, convertible promissory notes and short term loans, federally-guaranteed loans, term loans and accounts payable and accrued liabilities. The Company’s derivative liabilities are carried at fair values and are classified as Level 3 financial instruments. The Company’s bank accounts are maintained with financial institutions of reputable credit, therefore, bear minimal credit risk. <p id="xdx_89C_eus-gaap--ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock_zvszGrepfSi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The fair value of financial instruments measured on a recurring basis is as follows (in thousands): SCHEDULE OF FAIR VALUE OF FINANCIAL INSTRUMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of March 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid">Description</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Total</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities:</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 44%; text-align: left">Derivative liabilities, short-term</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20230331_z71zuSaLQHq7" style="width: 10%; text-align: right" title="Derivative liabilities, short-term">1,008,216</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z6lXoVJsdwQ1" style="width: 10%; text-align: right" title="Derivative liabilities, short-term">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zFm7xy9G1rRd" style="width: 10%; text-align: right" title="Derivative liabilities, short-term">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zDEgsG4ZnwKg" style="width: 10%; text-align: right" title="Derivative liabilities, short-term">1,008,216</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Derivative liabilities, long-term</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20230331_zyf0Syg3nvk9" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">759,065</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zbqDNYWvYZR9" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zezhEXahDd1f" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zDg967YRa9pl" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">759,065</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total liabilities at fair value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--DerivativeLiabilities_iI_c20230331_z99xhRL07lI" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">1,767,281</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--DerivativeLiabilities_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zbNHkP6Xx6K" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--DerivativeLiabilities_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zrIzTVfzzurh" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--DerivativeLiabilities_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z5Td7pxozNg8" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">1,767,281</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of March 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid">Description</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Total</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities:</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 44%; text-align: left">Derivative liabilities, short-term</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20220331_zl9uX7vldzVj" style="width: 10%; text-align: right" title="Derivative liabilities, short-term">520,747</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20220331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zXSCuOlQGGx6" style="width: 10%; text-align: right" title="Derivative liabilities, short-term">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20220331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zPFuWQdFGE9b" style="width: 10%; text-align: right" title="Derivative liabilities, short-term">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20220331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zZFWCRYHTJgd" style="width: 10%; text-align: right" title="Derivative liabilities, short-term">520,747</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Derivative liabilities, long-term</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20220331_zcMjRV1Coxhc" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">352,402</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20220331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zhRgge09ar1" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20220331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z5pYzuJHIzo3" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20220331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z7His3zoDRx9" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">352,402</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total liabilities at fair value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--DerivativeLiabilities_iI_c20220331_zzwBv10n9iyd" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">873,149</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--DerivativeLiabilities_iI_c20220331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z0SmcvlXtvG5" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--DerivativeLiabilities_iI_c20220331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zmg4ReQ8XQK5" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--DerivativeLiabilities_iI_c20220331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zReViguVzMgf" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">873,149</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> There were no transfers between fair value hierarchy levels during the years ended March 31, 2023 and 2022. Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized over the shorter of the lease term or the estimated useful lives of the assets. Maintenance and repairs are charged to expense as incurred, and improvements and betterments are capitalized. Depreciation of property and equipment is provided using the straight-line method for substantially all assets with estimated lives as follow: <p id="xdx_892_ecustom--ScheduleOfPropertyAndEquipmentEstimatedUsefulLivesTableTextBlock_zBIA4GKH2K65" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 35%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 30%; text-align: justify">Office equipment</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 35%; text-align: justify">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Leasehold improvement</td> <td style="font: 10pt Times New Roman, Times, Serif">5 years</td></tr> </table> <p id="xdx_84E_eus-gaap--ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_zQlRzDkSQ26f" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Impairment for Long-Lived Assets The Company applies the provisions of ASC Topic 360, Property, Plant, and Equipment, which addresses financial accounting and reporting for the impairment or disposal of long-lived assets. ASC 360 requires impairment losses to be recorded on long-lived assets, including right-of-use assets, used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets’ carrying amounts. In that event, a loss is recognized based on the amount by which the carrying amount exceeds the fair value of the long-lived assets. Loss on long-lived assets to be disposed of is determined in a similar manner, except that fair values are reduced for the cost of disposal. Based on its review at March 31, 2023 and 2022, the Company believes there was no impairment of its long-lived assets. BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars) Leases The Company is the lessee in a lease contract when the Company obtains the right to use the asset. Operating leases are included in the line items right-of-use asset, lease liabilities, current, and lease liabilities, long-term in the consolidated balance sheet. Right-of-use (“ROU”) asset represents the Company’s right to use an underlying asset for the lease term and lease obligations represent the Company’s obligations to make lease payments arising from the lease, both of which are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. Leases with a lease term of 12 months or less at inception are not recorded on the consolidated balance sheet and are expensed on a straight-line basis over the lease term in the consolidated statement of operations and comprehensive loss. The Company determines the lease term by agreement with lessor. As the Company’s lease does not provide implicit interest rate, the Company uses the Company’s incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. Refer to Note 12 for further discussion. Income Taxes The Company accounts for income taxes in accordance with ASC 740. The Company provides for Federal, State and Provincial income taxes payable, as well as for those deferred because of the timing differences between reporting income and expenses for consolidated financial statement purposes versus tax purposes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recoverable or settled. The effect of a change in tax rates is recognized as income or expense in the period of the change. A valuation allowance is established, when necessary, to reduce deferred income tax assets to the amount that is more likely than not to be realized. Research and Development Research and development costs, which relate primarily to product and software development, are charged to operations as incurred. Under certain research and development arrangements with third parties, the Company may be required to make payments that are contingent on the achievement of specific developmental, regulatory and/or commercial milestones. Before a product receives regulatory approval, milestone payments made to third parties are expensed when the milestone is achieved. Milestone payments made to third parties after regulatory approval is received are capitalized and amortized over the estimated useful life of the approved product. <p id="xdx_845_eus-gaap--SellingGeneralAndAdministrativeExpensesPolicyTextBlock_z27pbYiWJJof" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Selling, General and Administrative Selling, general and administrative expenses consist primarily of personnel-related costs including stock-based compensation for personnel in functions not directly associated with research and development activities. Other significant costs include sales and marketing costs, investor relation and legal costs relating to corporate matters, professional fees for consultants assisting with business development and financial matters, and office and administrative expenses. <p id="xdx_848_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zvKe3WTkTKKi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Stock Based Compensation The Company accounts for share-based payments in accordance with the provision of ASC 718, which requires that all share-based payments issued to acquire goods or services, including grants of employee stock options, be recognized in the consolidated statements of operations and comprehensive loss based on their fair values, net of estimated forfeitures. ASC 718 requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Compensation expense related to share-based awards is recognized over the requisite service period, which is generally the vesting period. The Company accounts for stock based compensation awards issued to non-employees for services, as prescribed by ASC 718-10, at either the fair value of the services rendered or the instruments issued in exchange for such services, whichever is more readily determinable, using the guidelines in ASC 505-50. The Company issues compensatory shares for services including, but not limited to, executive, management, accounting, operations, corporate communication, financial and administrative consulting services. BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars) Convertible Notes Payable and Derivative Instruments The Company has adopted the provisions of ASU 2017-11 to account for the down round features of warrants issued with private placements effective as of April 1, 2017. In doing so, warrants with a down round feature previously treated as derivative liabilities in the consolidated balance sheet and measured at fair value are henceforth treated as equity, with no adjustment for changes in fair value at each reporting period. Previously, the Company accounted for conversion options embedded in convertible notes in accordance with ASC 815. ASC 815 generally requires companies to bifurcate conversion options embedded in convertible notes from their host instruments and to account for them as free-standing derivative financial instruments. ASC 815 provides for an exception to this rule when convertible notes, as host instruments, are deemed to be conventional, as defined by ASC 815-40. The Company accounts for convertible notes deemed conventional and conversion options embedded in non-conventional convertible notes which qualify as equity under ASC 815, in accordance with the provisions of ASC 470-20, which provides guidance on accounting for convertible securities with beneficial conversion features. Accordingly, the Company records, as a discount to convertible notes, the intrinsic value of such conversion options based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. Debt discounts under these arrangements are amortized over the term of the related debt. <p id="xdx_843_ecustom--PreferredSharesExtinguishmentsPolicyTextBlock_zjZuQJp7E6C3" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Preferred Shares Extinguishments The Company accounted for preferred stock redemptions and conversions in accordance to ASU-260-10-S99. For preferred stock redemptions and conversion, the difference between the fair value of consideration transferred to the holders of the preferred stock and the carrying amount of the preferred stock is accounted as deemed dividend distribution and subtracted from net loss. <p id="xdx_84D_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zWijaOUz1Em" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments.” This pronouncement, along with subsequent ASUs issued to clarify provisions of ASU 2016-13, changes the impairment model for most financial assets and will require the use of an “expected loss” model for instruments measured at amortized cost. Under this model, entities will be required to estimate the lifetime expected credit loss on such instruments and record an allowance to offset the amortized cost basis of the financial asset, resulting in a net presentation of the amount expected to be collected on the financial asset. In developing the estimate for lifetime expected credit loss, entities must incorporate historical experience, current conditions, and reasonable and supportable forecasts. This pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2019. On November 19, 2019, the FASB issued ASU No. 2019-10, Financial Instruments—Credit Losses (Topic 326), finalized various effective date delays for private companies, not-for-profit organizations, and certain smaller reporting companies applying the credit losses (CECL), the revised effective for fiscal years beginning after December 15, 2022. The Company does not expect that this guidance will have a significant impact on the Company’s consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which simplifies the accounting for income taxes, eliminates certain exceptions within ASC 740, Income Taxes, and clarifies certain aspects of the current guidance to promote consistency among reporting entities. ASU 2019-12 is effective for fiscal years beginning after December 15, 2021. Most amendments within the standard are required to be applied on a prospective basis, while certain amendments must be applied on a retrospective or modified retrospective basis. There is no significant impact from adopting ASU 2019-12 on the Company’s financial condition, results of operations, and cash flows. In April 2021, The FASB issued ASU 2021-04 to codify the final consensus reached by the Emerging Issues Task Force (EITF) on how an issuer should account for modifications made to equity-classified written call options (hereafter referred to as a warrant to purchase the issuer’s common stock). The guidance in the ASU requires the issuer to treat a modification of an equity-classified warrant that does not cause the warrant to become liability-classified as an exchange of the original warrant for a new warrant. This guidance applies whether the modification is structured as an amendment to the terms and conditions of the warrant or as termination of the original warrant and issuance of a new warrant. The Company adopted this guidance for the fiscal year beginning April 1, 2022. There is no significant impact from adopting ASU 2021-04 on the Company’s financial condition, results of operations, and cash flows. BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars) The Company continue to evaluate the impact of the new accounting pronouncement, including enhanced disclosure requirements, on our business processes, controls and systems.

Revenue Recognition The Company adopted Accounting Standards Codification Topic 606, “Revenue from Contracts with Customers” (“ASC 606”) on April 1, 2018. In accordance with ASC 606, revenue is recognized when promised goods or services are transferred to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services by applying the core principles – (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to performance obligations in the contract, and (5) recognize revenue as performance obligations are satisfied. BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars) Both the Bioflux mobile cardiac telemetry device, and the Biotres device are wearable devices. The cardiac data that the devices monitor and collect is curated and analyzed by the Company’s proprietary algorithms and then securely communicated to a remote monitoring facility for electronic reporting and conveyance to the patient’s prescribing physician or other certified cardiac medical professional. Revenues earned are comprised of device sales revenues and technology fee revenues (technology as a service). The devices, together with their licensed software, are available for sale to the medical center or physician, who is responsible for the delivery of clinical diagnosis and therapy. The remote monitoring, data collection and reporting services performed by the technology culminate in a patient study that is generally billable when it is complete and is issued to the physician. In order to recognize revenue, management considers whether or not the following criteria are met: persuasive evidence of a commercial arrangement exists, and delivery has occurred or services have been rendered. For sales of devices, which are invoiced directly, additional revenue recognition criteria include that the price is fixed and determinable and collectability is reasonably assured; for device sales contracts with terms of more than one year, the Company recognizes any significant financing component as revenue over the contractual period using the effective interest method, and the associated interest income is reflected accordingly on the statement of operations and included in other income; for revenue that is earned based on customer usage of the proprietary software to render a patient’s cardiac study, the Company recognizes revenue when the study ends based on a fixed billing rate. Costs associated with providing the services are recorded as the service is provided regardless of whether or when revenue is recognized. The Company may also earn service-related revenue from contracts with other counterparties with which it consults. This contract work is separate and distinct from services provided to clinical customers, but may be with a reseller or other counterparties that are working to establish their operations in foreign jurisdictions or ancillary products or market segments in which the Company has expertise and may eventually conduct business. <p id="xdx_89B_eus-gaap--ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock_z3Pr8dHAbf3b" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The Company recognized the following forms of revenue for the fiscal years ended March 31, 2023 and 2022: SCHEDULE OF REVENUE RECOGNITION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49E_20220401__20230331_z17ghVA7hZeh" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20210401__20220331_zp6d5oK0mZm1" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--TechnologyFeesMember_z3CzkZSWYL8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; width: 64%">Technology fees</td><td style="width: 2%"> </td> <td style="text-align: left; width: 1%"> </td><td style="text-align: right; width: 14%">8,802,032</td><td style="text-align: left; width: 1%"> </td><td style="width: 2%"> </td> <td style="text-align: left; width: 1%"> </td><td style="text-align: right; width: 14%">5,904,393</td><td style="text-align: left; width: 1%"> </td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--DeviceSalesMember_zVIZeOwDjdIi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Device sales</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">837,025</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">995,876</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--ServiceRelatedAndOtherRevenueMember_zVJqZOwOg19e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Service-related and other revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">750,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zWeK19FIJzH" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">9,639,057</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,650,269</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table>

<p id="xdx_89B_eus-gaap--ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock_z3Pr8dHAbf3b" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The Company recognized the following forms of revenue for the fiscal years ended March 31, 2023 and 2022: SCHEDULE OF REVENUE RECOGNITION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49E_20220401__20230331_z17ghVA7hZeh" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20210401__20220331_zp6d5oK0mZm1" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--TechnologyFeesMember_z3CzkZSWYL8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; width: 64%">Technology fees</td><td style="width: 2%"> </td> <td style="text-align: left; width: 1%"> </td><td style="text-align: right; width: 14%">8,802,032</td><td style="text-align: left; width: 1%"> </td><td style="width: 2%"> </td> <td style="text-align: left; width: 1%"> </td><td style="text-align: right; width: 14%">5,904,393</td><td style="text-align: left; width: 1%"> </td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--DeviceSalesMember_zVIZeOwDjdIi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Device sales</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">837,025</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">995,876</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--ServiceRelatedAndOtherRevenueMember_zVJqZOwOg19e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Service-related and other revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">750,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zWeK19FIJzH" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">9,639,057</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,650,269</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table>

8802032

5904393

837025

995876

750000

9639057

7650269

Inventories Inventory is stated at the lower of cost and market value, cost being determined on a weighted average cost basis. Market value of our finished goods inventory and raw material inventory is determined based on its estimated net realizable value, which is generally the selling price less normally predictable costs of disposal and transportation. The Company records write-downs of inventory that is obsolete or in excess of anticipated demand or market value based on consideration of product lifecycle stage, technology trends, product development plans and assumptions about future demand and market conditions. Actual demand may differ from forecasted demand, and such differences may have a material effect on recorded inventory values. Inventory write-downs are charged to cost of revenue and establish a new cost basis for the inventory. SCHEDULE OF INVENTORIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" id="xdx_494_20230331_zYsdKdEzWWsb" style="border-bottom: Black 1.5pt solid; text-align: center">2023</td><td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_494_20220331_zCytAsV2NDOl" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">2022</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" style="text-align: center">$ </td><td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">$</td><td style="text-align: center; font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--InventoryRawMaterialsAndSupplies_iI_maINzF7M_zHncu6RSZBLf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Raw material</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">1,186,735</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">468,454</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--InventoryFinishedGoods_iI_maINzF7M_zhnWDRCTnN75" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; text-align: left">Finished goods</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,150,271</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">374,470</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--InventoryNet_iTI_mtINzF7M_zo259qOUEoDj" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Inventories</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,337,006</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">842,924</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table>

SCHEDULE OF INVENTORIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" id="xdx_494_20230331_zYsdKdEzWWsb" style="border-bottom: Black 1.5pt solid; text-align: center">2023</td><td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_494_20220331_zCytAsV2NDOl" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">2022</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" style="text-align: center">$ </td><td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">$</td><td style="text-align: center; font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--InventoryRawMaterialsAndSupplies_iI_maINzF7M_zHncu6RSZBLf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Raw material</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">1,186,735</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">468,454</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--InventoryFinishedGoods_iI_maINzF7M_zhnWDRCTnN75" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; text-align: left">Finished goods</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,150,271</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">374,470</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--InventoryNet_iTI_mtINzF7M_zo259qOUEoDj" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Inventories</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,337,006</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">842,924</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table>

1186735

468454

1150271

374470

2337006

842924

Significant accounting estimates and assumptions The preparation of the consolidated financial statements requires the use of estimates and assumptions to be made in applying the accounting policies that affect the reported amounts of assets, liabilities, revenue and expenses and the disclosure of contingent assets and liabilities. The estimates and related assumptions are based on previous experiences and other factors considered reasonable under the circumstances, the results of which form the basis for making the assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. Significant accounts that require estimates as the basis for determining the stated amounts include share-based compensation, impairment analysis and fair value of warrants, promissory notes, convertible notes and derivative liabilities. BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0px"></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Fair value of stock options</td></tr> </table> The Company measures the cost of equity-settled transactions with employees by reference to the fair value of equity instruments at the date at which they are granted. Estimating fair value for share-based payments requires determining the most appropriate valuation model for a grant of such instruments, which is dependent on the terms and conditions of the grant. The estimate also requires determining the most appropriate inputs to the Black-Scholes option pricing model, including the expected life of the instrument, risk-free rate, volatility, and dividend yield. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Fair value of warrants</td></tr> </table> In determining the fair value of the warrant issued for services and issue pursuant to financing transactions, the Company used the Black-Scholes option pricing model with the following assumptions: volatility rate, risk-free rate, and the remaining expected life of the warrants that are classified under equity. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Fair value of derivative liabilities</td></tr> </table> In determining the fair values of the derivative liabilities from the conversion and redemption features, the Company used Monte-Carlo and lattice models with the following assumptions: dividend yields, volatility, risk-free rate and the remaining expected life. Changes in those assumptions and inputs could in turn impact the fair value of the derivative liabilities and can have a material impact on the reported loss and comprehensive loss for the applicable reporting period. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0px"></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Functional currency</td></tr> </table> Determining the appropriate functional currencies for entities in the Company requires analysis of various factors, including the currencies and country-specific factors that mainly influence labor, materials, and other operating expenses. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Useful life of property and equipment</td></tr> </table> The Company employs significant estimates to determine the estimated useful lives of property and equipment, considering industry trends such as technological advancements, past experience, expected use and review of asset useful lives. The Company makes estimates when determining depreciation methods, depreciation rates and asset useful lives, which requires considering industry trends and company-specific factors. The Company reviews depreciation methods, useful lives and residual values annually or when circumstances change and adjusts its depreciation methods and assumptions prospectively. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Provisions</td></tr> </table> Provisions are recognized when the Company has a present obligation, legal or constructive, as a result of a previous event, if it is probable that the Company will be required to settle the obligation and a reliable estimate can be made of the obligation. The amount recognized is the best estimate of the expenditure required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligations. Provisions are reviewed at the end of each reporting period and adjusted to reflect the current best estimate of the expected future cash flows. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Contingencies</td></tr> </table> Contingencies can be either possible assets or possible liabilities arising from past events, which, by their nature, will be resolved only when one or more uncertain future events occur or fail to occur. The assessment of the existence and potential impact of contingencies inherently involves the exercise of significant judgment and the use of estimates regarding the outcome of future events. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Inventory obsolescence</td></tr> </table> Inventories are stated at the lower of cost and market value. Market value of our inventory, which is all purchased finished goods, is determined based on its estimated net realizable value, which is generally the selling price less normally predictable costs of disposal and transportation. The Company estimates net realizable value as the amount at which inventories are expected to be sold, taking into consideration fluctuations in retail prices less estimated costs necessary to make the sale. Inventories are written down to net realizable value when the cost of inventories is estimated to be unrecoverable due to obsolescence, damage, or declining selling prices. BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Income and other taxes</td></tr> </table> The calculation of current and deferred income taxes requires the Company to make estimates and assumptions and to exercise judgment regarding the carrying values of assets and liabilities which are subject to accounting estimates inherent in those balances, the interpretation of income tax legislation across various jurisdictions, expectations about future operating results, the timing of reversal of temporary differences and possible audits of income tax filings by the tax authorities. In addition, when the Company incurs losses for income tax purposes, it assesses the probability of taxable income being available in the future based on its budgeted forecasts. These forecasts are adjusted to take into account certain non-taxable income and expenses and specific rules on the use of unused credits and tax losses. When the forecasts indicate that sufficient future taxable income will be available to deduct the temporary differences, a deferred tax asset is recognized for all deductible temporary differences. Changes or differences in underlying estimates or assumptions may result in changes to the current or deferred income tax balances on the consolidated balance sheets, a charge or credit to income tax expense included as part of net income (loss) and may result in cash payments or receipts. Judgment includes consideration of the Company’s future cash requirements in its tax jurisdictions. All income, capital and commodity tax filings are subject to audits and reassessments. Changes in interpretations or judgments may result in a change in the Company’s income, capital, or commodity tax provisions in the future. The amount of such a change cannot be reasonably estimated. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Incremental borrowing rate for lease</td></tr> </table> The determination of the Company’s lease obligation and right-of-use asset depends on certain assumptions, which include the selection of the discount rate. The discount rate is set by reference to the Company’s incremental borrowing rate. Significant assumptions are required to be made when determining which borrowing rates to apply in this determination. Changes in the assumptions used may have a significant effect on the Company’s consolidated financial statements.

Earnings (Loss) Per Share The Company has adopted the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 260-10 which provides for calculation of “basic” and “diluted” earnings per share. Basic loss per share of common stock is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted earnings or loss per share of common stock is computed similarly to basic earnings or loss per share except the weighted average shares outstanding are increased to include additional shares from the assumed exercise of any common stock equivalents, if dilutive. The Company’s warrants, options, convertible promissory notes, convertible preferred stock, shares to be issued and restricted stock awards while outstanding are considered common stock equivalents for this purpose. Diluted earnings is computed utilizing the treasury method for the warrants, stock options, shares to be issued and restricted stock awards. Diluted earnings with respect to the convertible promissory notes and convertible preferred stock utilizing the if-converted method was not applicable during the periods presented as no conditions required for conversion had occurred. No incremental common stock equivalents were included in calculating diluted loss per share because such inclusion would be anti-dilutive given the net loss reported for the periods presented. BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars)

Cash Cash includes cash on hand and balances with banks.

<p id="xdx_84E_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_zFaOk6r9evR8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Foreign Currency Translation The functional currency of the Company’s Canadian-based subsidiary is the Canadian dollar and the US-based parent is the U.S. dollar. Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the exchange rate prevailing at the consolidated balance sheet date. Non-monetary assets and liabilities are translated using the historical rate on the date of the transaction. All exchange gains or losses arising from translation of these foreign currency transactions are included in net income (loss) for the year. In translating the financial statements of the Company’s Canadian subsidiaries from their functional currency into the Company’s reporting currency of United States dollars, consolidated balance sheet accounts are translated using the closing exchange rate in effect at the balance sheet date and income and expense accounts are translated using an average exchange rate prevailing during the reporting period. Adjustments resulting from the translation, if any, are included in accumulated other comprehensive loss in stockholders’ deficiency. The Company has not, to the date of these consolidated financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations.

Accounts Receivable Accounts receivable consists of amounts due to the Company from medical facilities, which receive reimbursement from institutions and third-party government and commercial payors and their related patients, as a result of the Company’s normal business activities. Accounts receivable is reported on the consolidated balance sheets net of an estimated allowance for doubtful accounts. The Company establishes an allowance for doubtful accounts for estimated uncollectible receivables based on historical experience, assessment of specific risk, review of outstanding invoices, and various assumptions and estimates that are believed to be reasonable under the circumstances, and recognizes the provision as a component of selling, general and administrative expenses. Uncollectible accounts are written off against the allowance after appropriate collection efforts have been exhausted and when it is deemed that a balance is uncollectible.

Fair Value of Financial Instruments ASC 820 defines fair value, establishes a framework for measuring fair value and expands required disclosure about fair value measurements of assets and liabilities. ASC 820-10 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820-10 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: ● Level 1 – Valuation based on quoted market prices in active markets for identical assets or liabilities. ● Level 2 – Valuation based on quoted market prices for similar assets and liabilities in active markets. ● Level 3 – Valuation based on unobservable inputs that are supported by little or no market activity, therefore requiring management’s best estimate of what market participants would use as fair value. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars) Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments or interest rates that are comparable to market rates. These financial instruments include cash, accounts receivable, deposits and other receivables, convertible promissory notes and short term loans, federally-guaranteed loans, term loans and accounts payable and accrued liabilities. The Company’s derivative liabilities are carried at fair values and are classified as Level 3 financial instruments. The Company’s bank accounts are maintained with financial institutions of reputable credit, therefore, bear minimal credit risk. <p id="xdx_89C_eus-gaap--ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock_zvszGrepfSi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The fair value of financial instruments measured on a recurring basis is as follows (in thousands): SCHEDULE OF FAIR VALUE OF FINANCIAL INSTRUMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of March 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid">Description</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Total</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities:</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 44%; text-align: left">Derivative liabilities, short-term</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20230331_z71zuSaLQHq7" style="width: 10%; text-align: right" title="Derivative liabilities, short-term">1,008,216</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z6lXoVJsdwQ1" style="width: 10%; text-align: right" title="Derivative liabilities, short-term">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zFm7xy9G1rRd" style="width: 10%; text-align: right" title="Derivative liabilities, short-term">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zDEgsG4ZnwKg" style="width: 10%; text-align: right" title="Derivative liabilities, short-term">1,008,216</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Derivative liabilities, long-term</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20230331_zyf0Syg3nvk9" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">759,065</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zbqDNYWvYZR9" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zezhEXahDd1f" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zDg967YRa9pl" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">759,065</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total liabilities at fair value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--DerivativeLiabilities_iI_c20230331_z99xhRL07lI" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">1,767,281</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--DerivativeLiabilities_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zbNHkP6Xx6K" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--DerivativeLiabilities_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zrIzTVfzzurh" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--DerivativeLiabilities_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z5Td7pxozNg8" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">1,767,281</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of March 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid">Description</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Total</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities:</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 44%; text-align: left">Derivative liabilities, short-term</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20220331_zl9uX7vldzVj" style="width: 10%; text-align: right" title="Derivative liabilities, short-term">520,747</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20220331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zXSCuOlQGGx6" style="width: 10%; text-align: right" title="Derivative liabilities, short-term">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20220331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zPFuWQdFGE9b" style="width: 10%; text-align: right" title="Derivative liabilities, short-term">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20220331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zZFWCRYHTJgd" style="width: 10%; text-align: right" title="Derivative liabilities, short-term">520,747</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Derivative liabilities, long-term</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20220331_zcMjRV1Coxhc" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">352,402</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20220331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zhRgge09ar1" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20220331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z5pYzuJHIzo3" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20220331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z7His3zoDRx9" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">352,402</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total liabilities at fair value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--DerivativeLiabilities_iI_c20220331_zzwBv10n9iyd" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">873,149</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--DerivativeLiabilities_iI_c20220331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z0SmcvlXtvG5" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--DerivativeLiabilities_iI_c20220331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zmg4ReQ8XQK5" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--DerivativeLiabilities_iI_c20220331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zReViguVzMgf" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">873,149</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> There were no transfers between fair value hierarchy levels during the years ended March 31, 2023 and 2022.

<p id="xdx_89C_eus-gaap--ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock_zvszGrepfSi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The fair value of financial instruments measured on a recurring basis is as follows (in thousands): SCHEDULE OF FAIR VALUE OF FINANCIAL INSTRUMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of March 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid">Description</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Total</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities:</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 44%; text-align: left">Derivative liabilities, short-term</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20230331_z71zuSaLQHq7" style="width: 10%; text-align: right" title="Derivative liabilities, short-term">1,008,216</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z6lXoVJsdwQ1" style="width: 10%; text-align: right" title="Derivative liabilities, short-term">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zFm7xy9G1rRd" style="width: 10%; text-align: right" title="Derivative liabilities, short-term">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zDEgsG4ZnwKg" style="width: 10%; text-align: right" title="Derivative liabilities, short-term">1,008,216</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Derivative liabilities, long-term</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20230331_zyf0Syg3nvk9" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">759,065</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zbqDNYWvYZR9" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zezhEXahDd1f" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zDg967YRa9pl" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">759,065</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total liabilities at fair value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--DerivativeLiabilities_iI_c20230331_z99xhRL07lI" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">1,767,281</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--DerivativeLiabilities_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zbNHkP6Xx6K" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--DerivativeLiabilities_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zrIzTVfzzurh" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--DerivativeLiabilities_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z5Td7pxozNg8" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">1,767,281</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of March 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid">Description</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Total</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities:</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 44%; text-align: left">Derivative liabilities, short-term</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20220331_zl9uX7vldzVj" style="width: 10%; text-align: right" title="Derivative liabilities, short-term">520,747</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20220331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zXSCuOlQGGx6" style="width: 10%; text-align: right" title="Derivative liabilities, short-term">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20220331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zPFuWQdFGE9b" style="width: 10%; text-align: right" title="Derivative liabilities, short-term">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20220331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zZFWCRYHTJgd" style="width: 10%; text-align: right" title="Derivative liabilities, short-term">520,747</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Derivative liabilities, long-term</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20220331_zcMjRV1Coxhc" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">352,402</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20220331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zhRgge09ar1" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20220331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z5pYzuJHIzo3" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20220331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z7His3zoDRx9" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">352,402</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total liabilities at fair value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--DerivativeLiabilities_iI_c20220331_zzwBv10n9iyd" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">873,149</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--DerivativeLiabilities_iI_c20220331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z0SmcvlXtvG5" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--DerivativeLiabilities_iI_c20220331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zmg4ReQ8XQK5" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--DerivativeLiabilities_iI_c20220331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zReViguVzMgf" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">873,149</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1008216

759065

1767281

520747

352402

873149

Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized over the shorter of the lease term or the estimated useful lives of the assets. Maintenance and repairs are charged to expense as incurred, and improvements and betterments are capitalized. Depreciation of property and equipment is provided using the straight-line method for substantially all assets with estimated lives as follow: <p id="xdx_892_ecustom--ScheduleOfPropertyAndEquipmentEstimatedUsefulLivesTableTextBlock_zBIA4GKH2K65" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 35%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 30%; text-align: justify">Office equipment</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 35%; text-align: justify">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Leasehold improvement</td> <td style="font: 10pt Times New Roman, Times, Serif">5 years</td></tr> </table>

<p id="xdx_892_ecustom--ScheduleOfPropertyAndEquipmentEstimatedUsefulLivesTableTextBlock_zBIA4GKH2K65" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 35%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 30%; text-align: justify">Office equipment</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 35%; text-align: justify">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Leasehold improvement</td> <td style="font: 10pt Times New Roman, Times, Serif">5 years</td></tr> </table>

P5Y

<p id="xdx_84E_eus-gaap--ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_zQlRzDkSQ26f" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Impairment for Long-Lived Assets The Company applies the provisions of ASC Topic 360, Property, Plant, and Equipment, which addresses financial accounting and reporting for the impairment or disposal of long-lived assets. ASC 360 requires impairment losses to be recorded on long-lived assets, including right-of-use assets, used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets’ carrying amounts. In that event, a loss is recognized based on the amount by which the carrying amount exceeds the fair value of the long-lived assets. Loss on long-lived assets to be disposed of is determined in a similar manner, except that fair values are reduced for the cost of disposal. Based on its review at March 31, 2023 and 2022, the Company believes there was no impairment of its long-lived assets. BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars)

Leases The Company is the lessee in a lease contract when the Company obtains the right to use the asset. Operating leases are included in the line items right-of-use asset, lease liabilities, current, and lease liabilities, long-term in the consolidated balance sheet. Right-of-use (“ROU”) asset represents the Company’s right to use an underlying asset for the lease term and lease obligations represent the Company’s obligations to make lease payments arising from the lease, both of which are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. Leases with a lease term of 12 months or less at inception are not recorded on the consolidated balance sheet and are expensed on a straight-line basis over the lease term in the consolidated statement of operations and comprehensive loss. The Company determines the lease term by agreement with lessor. As the Company’s lease does not provide implicit interest rate, the Company uses the Company’s incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. Refer to Note 12 for further discussion.

Income Taxes The Company accounts for income taxes in accordance with ASC 740. The Company provides for Federal, State and Provincial income taxes payable, as well as for those deferred because of the timing differences between reporting income and expenses for consolidated financial statement purposes versus tax purposes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recoverable or settled. The effect of a change in tax rates is recognized as income or expense in the period of the change. A valuation allowance is established, when necessary, to reduce deferred income tax assets to the amount that is more likely than not to be realized.

Research and Development Research and development costs, which relate primarily to product and software development, are charged to operations as incurred. Under certain research and development arrangements with third parties, the Company may be required to make payments that are contingent on the achievement of specific developmental, regulatory and/or commercial milestones. Before a product receives regulatory approval, milestone payments made to third parties are expensed when the milestone is achieved. Milestone payments made to third parties after regulatory approval is received are capitalized and amortized over the estimated useful life of the approved product.

<p id="xdx_845_eus-gaap--SellingGeneralAndAdministrativeExpensesPolicyTextBlock_z27pbYiWJJof" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Selling, General and Administrative Selling, general and administrative expenses consist primarily of personnel-related costs including stock-based compensation for personnel in functions not directly associated with research and development activities. Other significant costs include sales and marketing costs, investor relation and legal costs relating to corporate matters, professional fees for consultants assisting with business development and financial matters, and office and administrative expenses.

<p id="xdx_848_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zvKe3WTkTKKi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Stock Based Compensation The Company accounts for share-based payments in accordance with the provision of ASC 718, which requires that all share-based payments issued to acquire goods or services, including grants of employee stock options, be recognized in the consolidated statements of operations and comprehensive loss based on their fair values, net of estimated forfeitures. ASC 718 requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Compensation expense related to share-based awards is recognized over the requisite service period, which is generally the vesting period. The Company accounts for stock based compensation awards issued to non-employees for services, as prescribed by ASC 718-10, at either the fair value of the services rendered or the instruments issued in exchange for such services, whichever is more readily determinable, using the guidelines in ASC 505-50. The Company issues compensatory shares for services including, but not limited to, executive, management, accounting, operations, corporate communication, financial and administrative consulting services. BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars)

Convertible Notes Payable and Derivative Instruments The Company has adopted the provisions of ASU 2017-11 to account for the down round features of warrants issued with private placements effective as of April 1, 2017. In doing so, warrants with a down round feature previously treated as derivative liabilities in the consolidated balance sheet and measured at fair value are henceforth treated as equity, with no adjustment for changes in fair value at each reporting period. Previously, the Company accounted for conversion options embedded in convertible notes in accordance with ASC 815. ASC 815 generally requires companies to bifurcate conversion options embedded in convertible notes from their host instruments and to account for them as free-standing derivative financial instruments. ASC 815 provides for an exception to this rule when convertible notes, as host instruments, are deemed to be conventional, as defined by ASC 815-40. The Company accounts for convertible notes deemed conventional and conversion options embedded in non-conventional convertible notes which qualify as equity under ASC 815, in accordance with the provisions of ASC 470-20, which provides guidance on accounting for convertible securities with beneficial conversion features. Accordingly, the Company records, as a discount to convertible notes, the intrinsic value of such conversion options based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. Debt discounts under these arrangements are amortized over the term of the related debt.

<p id="xdx_843_ecustom--PreferredSharesExtinguishmentsPolicyTextBlock_zjZuQJp7E6C3" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Preferred Shares Extinguishments The Company accounted for preferred stock redemptions and conversions in accordance to ASU-260-10-S99. For preferred stock redemptions and conversion, the difference between the fair value of consideration transferred to the holders of the preferred stock and the carrying amount of the preferred stock is accounted as deemed dividend distribution and subtracted from net loss.

<p id="xdx_84D_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zWijaOUz1Em" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments.” This pronouncement, along with subsequent ASUs issued to clarify provisions of ASU 2016-13, changes the impairment model for most financial assets and will require the use of an “expected loss” model for instruments measured at amortized cost. Under this model, entities will be required to estimate the lifetime expected credit loss on such instruments and record an allowance to offset the amortized cost basis of the financial asset, resulting in a net presentation of the amount expected to be collected on the financial asset. In developing the estimate for lifetime expected credit loss, entities must incorporate historical experience, current conditions, and reasonable and supportable forecasts. This pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2019. On November 19, 2019, the FASB issued ASU No. 2019-10, Financial Instruments—Credit Losses (Topic 326), finalized various effective date delays for private companies, not-for-profit organizations, and certain smaller reporting companies applying the credit losses (CECL), the revised effective for fiscal years beginning after December 15, 2022. The Company does not expect that this guidance will have a significant impact on the Company’s consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which simplifies the accounting for income taxes, eliminates certain exceptions within ASC 740, Income Taxes, and clarifies certain aspects of the current guidance to promote consistency among reporting entities. ASU 2019-12 is effective for fiscal years beginning after December 15, 2021. Most amendments within the standard are required to be applied on a prospective basis, while certain amendments must be applied on a retrospective or modified retrospective basis. There is no significant impact from adopting ASU 2019-12 on the Company’s financial condition, results of operations, and cash flows. In April 2021, The FASB issued ASU 2021-04 to codify the final consensus reached by the Emerging Issues Task Force (EITF) on how an issuer should account for modifications made to equity-classified written call options (hereafter referred to as a warrant to purchase the issuer’s common stock). The guidance in the ASU requires the issuer to treat a modification of an equity-classified warrant that does not cause the warrant to become liability-classified as an exchange of the original warrant for a new warrant. This guidance applies whether the modification is structured as an amendment to the terms and conditions of the warrant or as termination of the original warrant and issuance of a new warrant. The Company adopted this guidance for the fiscal year beginning April 1, 2022. There is no significant impact from adopting ASU 2021-04 on the Company’s financial condition, results of operations, and cash flows. BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars) The Company continue to evaluate the impact of the new accounting pronouncement, including enhanced disclosure requirements, on our business processes, controls and systems.

<p id="xdx_804_eus-gaap--AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_zebVCN5E4Vgi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">4. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20230331_zGtmqpthuNva" style="border-bottom: Black 1.5pt solid; text-align: center">As at March 31, 2023</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20220331_z6cEANlQT4wj" style="border-bottom: Black 1.5pt solid; text-align: center">As at March 31, 2022</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--AccountsPayableOtherCurrent_iI_maAPAALzJVu_zK65flQDoewb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Trade and other payables</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">3,435,123</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">1,159,477</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AccruedLiabilitiesCurrent_iI_maAPAALzJVu_z7wmXw1WzBY2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Accrued liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,607,353</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,436,270</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredRevenue_iI_maAPAALzJVu_z2RpDBEOjqAe" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Deferred revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AccountsPayableAndAccruedLiabilitiesCurrent_iTI_mtAPAALzJVu_z9sNtrQut7Uj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Accounts payable and accrued liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,042,476</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,595,747</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> Trade and other payables and accrued liabilities as at March 31, 2023 and 2022 included $446,771 and $2,851, respectively, due to a shareholder, who is a director and executive of the Company.

SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20230331_zGtmqpthuNva" style="border-bottom: Black 1.5pt solid; text-align: center">As at March 31, 2023</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20220331_z6cEANlQT4wj" style="border-bottom: Black 1.5pt solid; text-align: center">As at March 31, 2022</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--AccountsPayableOtherCurrent_iI_maAPAALzJVu_zK65flQDoewb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Trade and other payables</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">3,435,123</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">1,159,477</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AccruedLiabilitiesCurrent_iI_maAPAALzJVu_z7wmXw1WzBY2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Accrued liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,607,353</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,436,270</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredRevenue_iI_maAPAALzJVu_z2RpDBEOjqAe" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Deferred revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AccountsPayableAndAccruedLiabilitiesCurrent_iTI_mtAPAALzJVu_z9sNtrQut7Uj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Accounts payable and accrued liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,042,476</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,595,747</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table>

3435123

1159477

1607353

1436270

5042476

2595747

446771

2851

5. CONVERTIBLE PROMISSORY NOTES AND SHORT TERM LOANS SCHEDULE OF CONVERTIBLE NOTES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20220401__20230331_z3sgHA67cNve" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49E_20210401__20220331_zSw0iht8iLB7" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Fiscal Year</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td style="text-align: center">$</td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td style="text-align: center">$</td><td style="text-align: center"> </td></tr> <tr id="xdx_406_ecustom--ConvertibleNotesShortTermLoansAndPromissoryNotes_iS_zCeQQrUB5AMa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: bold; font-style: italic">Balance, beginning of year</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">1,540,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">2,617,798</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--ConversionOfStockAmountIssued1_iN_di_zSzidGFtBYUe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Conversion to common shares (Note 9)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(555,600</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,309,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_ecustom--RedemptionOfConvertibleNotes_iN_di_ztwsbzf0p5n" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Redemption of convertible notes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(126,680</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--ConvertibleNoteModification_ztTsFs8CmPE2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Convertible note extinguishment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(500,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--NewIssuanceOfConvertibleNoteNetOfDiscounts_zOGyiVvzzKK6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">New issuance of convertible note, net of discounts</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,335,243</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--NewIssuanceOfShorttermLoanAndPromissoryNotesNetOfDiscounts_znfzBaVHD3Wc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">New issuance of short-term loan and promissory notes, net of discounts</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,444,480</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--RepaymentsOfDebt_iN_di_zmmhIMu5mEAa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Repayment of short-term loans</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(440,470</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AmortizationOfDebtDiscountPremium_zeGvJZVlE5ed" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Accretion and amortization of discounts</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">77,495</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">9,231,202</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--ConvertibleNotesShortTermLoansAndPromissoryNotes_iE_zBGIsrFNQTOc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; font-style: italic; padding-bottom: 2.5pt">Balance, end of year</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">4,774,468</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,540,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Interest expense on the above debt instruments was $111,040 and $546,878 for the years ended March 31, 2023 and 2022, respectively. Series A Convertible Promissory Notes: During the year ended March 31, 2021, the Company issued $11,275,500 (face value) in two series of convertible promissory notes (the “Series A Notes”) sold under subscription agreements to accredited investors. The Notes mature one year from the final closing date of the offering and accrue interest at 12% per annum. For first series of Series A Notes, commencing six months following the Issuance Date, and at any time thereafter (provided the Holder has not received notice of the Company’s intent to prepay the note), at the sole election of the Holder, any amount of the outstanding principal and accrued interest of this note (the “Outstanding Balance”) could be converted into that number of shares of Common Stock equal to: <span id="xdx_90F_eus-gaap--DebtInstrumentConvertibleTermsOfConversionFeature_c20200401__20210331__us-gaap--DebtInstrumentAxis__custom--SeriesANotesOneMember_zcoMMPckZmya" title="Description of conversion terms for debt instrument">(i) the Outstanding Balance divided by (ii) 75% of the volume weighted average price of the Common Stock for the 5 trading days prior to the Conversion Date (the conversion price). BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars) For the first series of Series A Notes, <span id="xdx_905_eus-gaap--DebtConversionDescription_c20200401__20210331__us-gaap--DebtInstrumentAxis__custom--SeriesANotesOneMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zkSmXdfBTqi7" title="Debt conversion description">the notes would automatically convert into common stock (in each case, subject to the trading volume of the Company’s common stock being a minimum of $500,000 for each trading day in the 20 consecutive trading days immediately preceding the conversion date), upon the earlier to occur of (i) the Company’s common stock being listed on a national securities exchange, in which event the conversion price would be equal to 75% of the volume weighted average price of the common stock for the 20 trading days prior to the conversion date, or (ii) upon the closing of the Company’s next equity round of financing for gross proceeds of greater than $5,000,000, in which event the conversion price would be equal to 75% of the price per share of the common stock (or of the conversion price in the event of the sale of securities convertible into common stock) sold in such financing. The Company could, at its discretion redeem the notes for 115% of their face value plus accrued interest. For second series of Series A Notes, the notes could be converted into shares of common stock, at the option of the holder, commencing six months from issuance, at a conversion price equal to the lower of $<span id="xdx_90F_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_pid_c20210331__us-gaap--DebtInstrumentAxis__custom--SeriesANotesTwoMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zX8VpKUdLcY5" title="Conversion price">4.00 per share or <span id="xdx_902_eus-gaap--DebtInstrumentConvertibleTermsOfConversionFeature_c20200401__20210331__us-gaap--DebtInstrumentAxis__custom--SeriesANotesTwoMember_zzNvGnLFShgi" title="Description of conversion terms for debt instrument">75% of the volume weighted average price of the common stock for the five trading days prior to the conversion date For the second series of Series A Notes, the notes would automatically convert into common stock (in each case, subject to the trading volume of the Company’s common stock being a minimum of $500,000 for each trading day in the 20 consecutive trading days immediately preceding the conversion date), upon the earlier to occur of (i) the Company’s common stock being listed on a national securities exchange, in which event the conversion price would be equal to the lower of $4.00 per share or 75% of the volume weighted average price of the common stock for the 20 trading days prior to the conversion date, or (ii) upon the closing of the Company’s next equity round of financing for gross proceeds of greater than $5,000,000, in which event the conversion price would be equal to the lower of $4.00 per share or 75% of the price per share of the common stock (or of the conversion price in the event of the sale of securities convertible into common stock) sold in such financing. The Company could, at its discretion redeem the notes for 115% of their face value plus accrued interest. <span id="xdx_90C_ecustom--PlacementAgentFeesDescription_c20200401__20210331__us-gaap--DebtInstrumentAxis__custom--TwoSeriesANotesMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zld07xYONXjg" title="Placement agent fees description">The Company was obligated to issue warrants that accompany the convertible notes and provide 50% warrant coverage. The warrants have a 3-year term from date of issuance and an exercise price that is 120% of the 20-day volume weighted average price of the Company’s common shares at the time final closing. <span id="xdx_90A_ecustom--PlacementAgentFeesDescription_c20200401__20210331__srt--TitleOfIndividualAxis__custom--PlacementAgentMember__us-gaap--DebtInstrumentAxis__custom--SeriesANotesOneMember_zdBVzaAxWUO7" title="Placement agent fees description">The Company was obligated to pay the placement agent of the first series of Series A Notes a 12% cash fee for $8,925,500 (face value) of the notes and 2.5% cash fee and other sundry expenses for the remaining $2,350,000 (face value) of the notes. Net proceeds to the Company from Series A Notes issuance up to March 31, 2021 amounted to $10,135,690 after payment of the relevant financing related fees. <span id="xdx_909_ecustom--PlacementAgentFeesDescription_c20200401__20210331__srt--TitleOfIndividualAxis__custom--PlacementAgentMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_ze4t48ckAL57" title="Placement agent fees description">The Company was also obligated to issue warrants to the placement agent that have a 10-year term and cover 12% of funds raised for $8,925,550 (face value) of the notes (first series) and 2.5% of funds raised for the remaining $2,350,000 (face value) of notes (second series), with an exercise price that is 120% of the 20-day volume weighted average price of the Company’s common shares at the time final closing. On final closing, which occurred on January 8, 2021, the warrants’ exercise price was struck at $1.06 per share. Prior to January 8, 2021 (final closing date), the Company determined that the conversion and redemption features contained in those Notes represented a single compound derivative liability that meets the requirements for liability classification under ASC 815. The Company accounted for these obligations by determining the fair value of the related derivative liabilities associated with the embedded conversion and redemption features. For the Series A Notes, The Company recognized debt issuance costs in the amount of $2,301,854 and treated these as a deduction from the convertible note liabilities directly, as a contra-liability, and amortized the debt issuance cost over the term of the Notes. The Company also recognized initial debt discount in the amount of $8,088,003 and accreted the interest over the remaining lives of those Notes. The debt issuance costs were fully amortized as of March 31, 2022. BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars) On December 30, 2022, the Company exchanged $500,000 of Series A Notes along with its outstanding interest accrual of $121,500 into a new convertible note with the same note holder. The new convertible note has principal of $621,500, stated interest rate of 12% per annum, as well as option to convert outstanding principal and accrued interest at the conversion price, calculated at <span id="xdx_90C_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pid_dp_uPure_c20221230__20221230__us-gaap--DebtInstrumentAxis__custom--NewConvertibleNoteMember_zn7mIFi1a6p6" title="Debt instrument interest rate">75% multiplied by the average of the three lowest closing prices during the previous ten trading days prior to the receipt of the conversion notice. The new convertible note matures on December 30, 2023. The Company had concluded that this exchange transaction is an extinguishment of the original convertible note. Therefore, the Company recorded the new convertible note at fair value, which was its face value of $621,500 net of a discount of $64,636. The difference between the fair value of the original convertible note immediately prior to the extinguishment and the fair value of the new convertible note is $64,636. This amount was recorded as a gain upon debt extinguishment and was included in other income on the consolidated statements of operations and comprehensive loss. In addition, the Company had assessed fair value of the derivative liability associated with the conversion option on the original note immediately before the modification, as well as the fair value of the derivative liability associated with the new convertible note. The difference $14,083 was recognized as other expense [Note 8]. As of March 31, 2023, the remaining unamortized discount on Series A convertible notes was $49,393. As of March 31, 2023, the Company recorded $74,912 of interest accruals for the Series A Notes. In connection with the foregoing, the Company relied upon the exemption from registration provided by Section 4(a)(2) under the Securities Act of 1933, as amended, for transactions not involving a public offering. Series B Convertible Notes In addition, during the year ended March 31, 2021, the Company also issued $<span id="xdx_90B_eus-gaap--DebtInstrumentFaceAmount_iI_c20210331__us-gaap--DebtInstrumentAxis__custom--SeriesBNotesMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AccreditedInvestorsMember_zNTpUHujEjth" title="Face amount">1,312,500 (face value) of convertible promissory notes (“Series B Notes”) to various accredited investors. Commencing six months following the issuance date, and at any time thereafter, subject to the Company’s Conversion Buyout clause, at the sole election of the holder, any amount of the outstanding principal and accrued interest of the note (the “outstanding balance”) could be converted into that number of shares of Common Stock equal to: (i) the outstanding balance divided by (ii) the Conversion Price. Partial conversions of the note shall have the effect of lowering the outstanding principal amount of the note. The holder may exercise such conversion right by providing written notice to the Company of such exercise in a form reasonably acceptable to the Company (a “conversion notice”). Conversion price means (subject in all cases to proportionate adjustment for stock splits, stock dividends, and similar transactions), seventy-five percent (75%) multiplied by the average of the three (3) lowest closing prices during the previous ten (10) trading days prior to the receipt of the conversion notice. The Series B Notes will automatically convert into common stock upon a merger, consolidation, exchange of shares, recapitalization, reorganization, as a result of which the Company’s common stock shall be changed into another class or classes of stock of the Company or another entity, or in the case of the sale of all or substantially all of the assets of the Company other than a complete liquidation of the Company. Within the first 180 days after the issuance date, the Company may, at its discretion redeem the notes for 115% of their face value plus accrued interest. The Company is obligated to issue warrants that accompany the convertible notes and provide 50% warrant coverage. The warrants have a <span id="xdx_901_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20210331__us-gaap--DebtInstrumentAxis__custom--SeriesBNotesMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zAi0PHtz0dWi" title="Warrants and rights outstanding term">3-year term from date of issuance and an exercise price that is $<span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20210331__us-gaap--DebtInstrumentAxis__custom--SeriesBNotesMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantOneMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zAJMEX3fOiQf" title="Exercise price">1.06 per share for <span id="xdx_906_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20210331__us-gaap--DebtInstrumentAxis__custom--SeriesBNotesMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantOneMember_zoWGRi1mwxKe" title="Warrant shares">100,000 warrant shares and $<span id="xdx_905_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20210331__us-gaap--DebtInstrumentAxis__custom--SeriesBNotesMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantTwoMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zUJI7qEmd6L7" title="Exercise price">1.5 per share for <span id="xdx_904_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20210331__us-gaap--DebtInstrumentAxis__custom--SeriesBNotesMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantTwoMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zcqWUCCxKK5" title="Warrant shares">212,500 warrant shares. Net proceeds to the Company from convertible note issuances to March 31, 2021 amounted to $1,240,000 after the original issuance discount as well as payment of the financing related fees. The Company determined that the conversion and redemption features contained in the Series B Notes represented a single compound derivative liability that meets the requirements for liability classification under ASC 815. The Company accounted for these obligations by determining the fair value of the related derivative liability associated with the embedded conversion and redemption features. The Company recognized debt issuance costs in the amount of $10,000 and treated these as a deduction from the convertible note liabilities directly, as a contra-liability, and amortized the debt issuance cost over the term of the Series B Notes. The Company recognized initial debt discount in the amount of $1,312,500 and accreted the interest over the remaining lives of those notes. The debt issuance costs were fully amortized as of March 31, 2022. BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars) During the year ended March 31, 2022, $472,500 (face value) of Series B Notes were converted into <span id="xdx_904_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_pid_c20210401__20220331__us-gaap--DebtInstrumentAxis__custom--SeriesBNotesMember_zxZxLenI5CJ3" title="Converted instrument shares issued">207,516 common shares. As at March 31, 2022, $840,000 of Series B Notes remained unconverted and outstanding, which was equal to the face value of the relevant convertible notes. During the year ended March 31, 2023, $555,600 (face value) of Series B Notes were converted into <span id="xdx_908_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_pid_c20220401__20230331__us-gaap--DebtInstrumentAxis__custom--SeriesBNotesMember_zcNXerI7AEv4" title="Converted instrument shares issued">761,038 common shares (Note 9 d). During the year ended March 31, 2023, $126,680 (face value) of Series B Notes were redeemed by cash payment of $145,682. The redemption price was determined in accordance to the Series B note agreement, where the Company has an option to redeem the note at 115% of its principal value instead of converting the note upon receipt of a conversion notice. The difference between the redemption cash payment and the book value of the note redeemed, including the derivative liability associated to the note, was $24,408, and was recognized as a gain upon convertible note repayment. As of March 31, 2023, the Company recorded accrued interest in the amount of $84,863 related to the Series B Notes. In connection with the foregoing, the Company relied upon the exemption from registration provided by Section 4(a)(2) under the Securities Act of 1933, as amended, for transactions not involving a public offering. In total, as at March 31, 2023, the Company had issued $821,500 and $157,720 for Series A and Series B notes, respectively, out of which $200,000 and $157,720 for Series A and Series B notes remained outstanding beyond their contractual maturity date. These continued to accrue interest, and no repayment demand notification was received from noteholders, notwithstanding the fact that these noteholders have continued to convert portions of these notes subsequently; and it is management’s expectation that all of these notes will eventually convert. In connection with the foregoing, the Company relied upon the exemption from registration provided by Section 4(a)(2) under the Securities Act of 1933, as amended, for transactions not involving a public offering. Series C Convertible Notes During the three months ended March 31, 2023, the Company issued $590,000 (face value) in convertible promissory notes (the “Series C Notes”) sold under subscription agreements to accredited investors. The Notes mature one year from the final closing date of the offering and accrue interest at 15% per annum. For Series C Notes, commencing six months following the Issuance Date, and at any time thereafter, at the sole election of the Holder, any amount of the outstanding principal and accrued interest of this note (the “Conversion Amount”) could be converted into that number of shares of Common Stock equal to: the Conversion Amount divided by the “Optional Conversion Price”, which is defined as lower of <span id="xdx_90D_eus-gaap--DebtInstrumentConvertibleTermsOfConversionFeature_c20220401__20230331__us-gaap--DebtInstrumentAxis__custom--SeriesCNotesMember_zTdihe0Rdk4" title="Description of conversion terms for debt instrument">(i) seventy-five percent (75%) of the VWAP for the five (5) Trading Days prior to the Conversion Date, or (ii) eighty percent (80%) of the gross sale price per share of Common Stock (or conversion or exercise price per share of Common Stock of any Common Stock Equivalents) sold in a Qualified Financing. For Series C Notes, “Mandatory Conversion” of the notes would convert into common stock at the applicable “Mandatory Conversion Price”, if either (i) on each of any twenty (20) consecutive Trading Days (the “Measurement Period”) (A) the closing price of the Common Stock on the applicable Trading Market is at least $3.00 per share and (B) the dollar value of average daily trades of the Common Stock on the applicable Trading Market is at least $400,000 per Trading Day; or (ii) upon the closing of a Qualified Financing, provided that the dollar value of average daily trades of the Common Stock on the applicable National Exchange on each of the ten (10) consecutive Trading Days following such closing is at least $400,000 per Trading Day. Mandatory Conversion Price means, in the case of a Mandatory Conversion under situation (i) above, seventy percent (70%) of the VWAP over the Measurement Period, or in the case of a Mandatory Conversion under situation (ii) above, eighty percent (80%) of the gross sale price per share of Common Stock (or conversion or exercise price per share of Common Stock of any Common Stock Equivalents) sold in a Qualified Financing. <span id="xdx_90F_ecustom--PlacementAgentFeesDescription_c20220401__20230331__us-gaap--DebtInstrumentAxis__custom--SeriesCNotesMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zMkwkPVpnpY9" title="Placement agent fees description">The Company was obligated to issue warrants that accompany the convertible notes and provide 100% warrant coverage. The warrants have a 4-year term from date of issuance and an exercise price that is 200% of the 5-day volume weighted average price of the Company’s common shares at the time final closing. <span id="xdx_905_ecustom--PlacementAgentFeesDescription_c20220401__20230331__srt--TitleOfIndividualAxis__custom--PlacementAgentMember__us-gaap--DebtInstrumentAxis__custom--SeriesCNotesMember_z1phFBPhQRD7" title="Placement agent fees description">The Company was obligated to pay the placement agent of the first series of Series C Notes a 10% cash fee for the face value of the notes. BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars) <span id="xdx_907_ecustom--PlacementAgentFeesDescription_c20220401__20230331__srt--TitleOfIndividualAxis__custom--PlacementAgentMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--DebtInstrumentAxis__custom--SeriesCNotesMember_zLhIiEpXveKc" title="Placement agent fees description">The Company was also obligated to issue warrants to the placement agent that have a 10-year term and cover 8% of face value of the notes, with an exercise price that equals to the 5-day volume weighted average price of the Company’s common shares at the time final closing. Net proceeds to the Company from Series C Notes issuance up to March 31, 2023 amounted to $501,000 after payment of the relevant financing related fees. Prior to the final closing date, the Company determined that the conversion features contained in those Note, as well as the obligations to issue investor warrants and placement agent warrants represented a single compound derivative liability that meets the requirements for liability classification under ASC 815. The Company accounted for these obligations by determining the fair value of the related derivative liabilities associated with the embedded conversion features, as well as the obligations related to investor warrant and placement agent warrant issuance. For the Series C Notes, The Company recognized debt issuance costs of $89,000 and treated these as debt discounts. The Company also recognized additional debt discount in the amount of $501,000 in connection with the recognition of derivative liabilities for the conversion features, investor warrants and placement agent warrants. The debt discounts are recorded as a contra liability against the convertible note, and are amortized and recognized as accretion expenses using the effective interest method over the remaining lives of the Notes. Since total debt discount amount cannot exceed total gross proceeds, the Company recognized $184,417 accretion expenses up front, which represents the amount of total derivative liabilities upon initial recognition of $<span id="xdx_908_ecustom--DerivativeLiabilitiesUponInitialRecognition_iI_c20230331__us-gaap--DebtInstrumentAxis__custom--SeriesCNotesMember_zOVTJIwu2gK2" title="Derivative liabilities upon initial recognition">685,417 less net proceeds of Series C Notes of $501,000. As of March 31, 2023, the Company recorded accrued interest in the amount of $2,598 related to the Series C Notes. As of March 31, 2023, the remaining unamortized discount on Series C convertible notes was $578,589. Other Convertible Notes On January 23, 2023, the Company issued $2,000,000 (face value) in convertible promissory notes (the “Other Convertible Notes”) to an accredited investor. The Notes mature 18 months from the issuance date. This note bears interest rate at a fixed rate of <span id="xdx_901_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20230123__us-gaap--ShortTermDebtTypeAxis__custom--OtherConvertibleNotesPayableMember_zsLMUN4sYY6d" title="Debt instrument interest rate stated percentage">10% in the form of stock with a striker price equal to the closing stock price on the note issuance date. Therefore, the Company issued <span id="xdx_90E_ecustom--StockIssuedDuringPeriodSharesIssuanceOfSharesInLieuOfConvertibleNoteInterest_c20230123__20230123__us-gaap--ShortTermDebtTypeAxis__custom--OtherConvertibleNotesPayableMember_zx03vRCVRwLd" title="Convertible notes payable">270,270 units of common stock in lieu of interest on this convertible note. These stocks were valued at $<span id="xdx_900_ecustom--StockIssuedDuringPeriodValueIssuanceOfSharesInLieuOfConvertibleNoteInterest_c20230123__20230123__us-gaap--ShortTermDebtTypeAxis__custom--OtherConvertibleNotesPayableMember_zgKxZD7gLEkh" title="Convertible notes payable">221,621 and was recognized as a deferred cost on the convertible note, recorded as a contra liability against the convertible note, and was amortized and recognized as accretion expense using the effective interest rate method over the remaining lives of the Other Convertible Notes. The conversion of the Other Convertible Notes is automatic upon a Qualified Financing which is in the control of the Company, or at maturity of the notes, upon mutual agreement by the note holder and the Company. Since the conversion is not in control of the holder of the note, the Company did not recognize a derivative liability in connection with the conversion option of the Other Convertible Notes. As of March 31, 2023, the remaining unamortized discount on Other Convertible Notes was $186,404. Other Short-term loans and Promissory Notes In December 2022, the Company entered into a short-term bridge loan agreement with a collateralized merchant finance company that advanced gross proceeds of $<span id="xdx_90B_eus-gaap--ProceedsFromShortTermDebt_c20221201__20221231__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember_zJ6d1Ecrh2C1" title="Gross proceeds">400,000, prior to the deduction of issuance costs in the amount of $<span id="xdx_90E_eus-gaap--DeferredFinanceCostsNet_iI_c20221231__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember_zzBSCrJ9k8z1">9,999. The issuance costs were recognized as a debt discount and amortized via the effective interest method. The term of the finance agreement is <span id="xdx_90F_eus-gaap--DebtInstrumentTerm_dtW_c20221201__20221231__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember_zWgPl7EjNgc6">40 weeks. The Company is required to make weekly payments of $<span id="xdx_90B_eus-gaap--DebtInstrumentPeriodicPayment_c20221201__20221231__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember_z0CFdryGYube">13,995 ($<span id="xdx_909_eus-gaap--DebtInstrumentCarryingAmount_iI_c20221231__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember_zbcJlQOZXmw8">560,000 in the aggregate). As of March 31, 2023, the amount of principal outstanding was $<span id="xdx_90F_eus-gaap--DebtInstrumentCarryingAmount_iI_c20230331__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember_zKuKleYmPu32">275,462. The remaining unamortized issuance cost discount was $<span id="xdx_901_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_c20221231__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember_zAFioG9wuxJ1">6,142. The Company has an option to repay the loan earlier to receive a discount on total repayment. If the Company repays within 30 days, the total repayment is $<span id="xdx_901_eus-gaap--RepaymentsOfDebt_c20221201__20221231__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember__us-gaap--AwardTypeAxis__custom--RepayWithInThirtyDaysMember_zul6gXz3WUec">512,000. If the Company repays within 60 days, the total repayment is $<span id="xdx_902_eus-gaap--RepaymentsOfDebt_c20221201__20221231__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember__us-gaap--AwardTypeAxis__custom--RepayWithInSixtyDaysMember_z7ibUhFywgQ5">520,000. If the Company repays within 90 days, the total repayment is $<span id="xdx_909_eus-gaap--RepaymentsOfDebt_c20221201__20221231__us-gaap--AwardTypeAxis__custom--RepayWithInNinetyDaysMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember_zZflidBydSLg">528,000. BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars) In December 2022, the Company also entered into a short term collateralized bridge loan agreement with a finance company that advanced gross proceeds of $<span id="xdx_90E_eus-gaap--ProceedsFromShortTermDebt_c20221201__20221231__us-gaap--DebtInstrumentAxis__custom--ShortTermCollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zpDf0i0vZgkl" title="Gross proceeds">800,000, prior to the deduction of issuance costs in the amount of $<span id="xdx_90A_eus-gaap--DeferredFinanceCostsNet_iI_c20221231__us-gaap--DebtInstrumentAxis__custom--ShortTermCollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zacR4bAzyLag">32,000. The issuance costs were recognized as a debt discount and amortized via the effective interest method. The term of this second agreement is <span id="xdx_904_eus-gaap--DebtInstrumentTerm_dtW_c20221201__20221231__us-gaap--DebtInstrumentAxis__custom--ShortTermCollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zquSdDnvpXGa" title="Debt instrument term">40 weeks. The Company is required to make weekly payments of $<span id="xdx_901_eus-gaap--DebtInstrumentPeriodicPayment_c20221201__20221231__us-gaap--DebtInstrumentAxis__custom--ShortTermCollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zQMqSaJyD0r9" title="Debt instrument payments">29,556 ($<span id="xdx_90B_eus-gaap--DebtInstrumentPeriodicPayment_c20221201__20221231__us-gaap--DebtInstrumentAxis__custom--ShortTermCollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember__us-gaap--AwardDateAxis__custom--FirstFourWeeksMember_zP8shmNhOD6d" title="Debt instrument payments">13,999 for the first four weeks, and $<span id="xdx_906_eus-gaap--DebtInstrumentCarryingAmount_iI_c20221231__us-gaap--DebtInstrumentAxis__custom--ShortTermCollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zy0l1jxxlQUl" title="Debt instrument carrying value">1,120,000 in the aggregate). As of March 31, 2023, the amount of principal outstanding under this agreement was $<span id="xdx_90E_eus-gaap--DebtInstrumentCarryingAmount_iI_c20230331__us-gaap--DebtInstrumentAxis__custom--ShortTermCollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_z3AFBSt63xg4" title="Debt instrument carrying value">620,418 and the remaining unamortized issuance cost discount was $<span id="xdx_903_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_c20230331__us-gaap--DebtInstrumentAxis__custom--ShortTermCollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zjDzXSrLVMRf" title="Unamortized issuance cost discount">20,800. The Company has an option to repay the loan earlier and receive a discount on total repayment. The total repayment amount becomes $<span id="xdx_90A_eus-gaap--RepaymentsOfDebt_c20221201__20221231__us-gaap--DebtInstrumentAxis__custom--ShortTermCollateralizedBridgeLoanAgreementMember__us-gaap--AwardTypeAxis__custom--RepayWithInThirtyDaysMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_z8sXXnT3r4Dj" title="Repayments of debt">920,000 if repaid within 30 days, $<span id="xdx_905_eus-gaap--RepaymentsOfDebt_c20221201__20221231__us-gaap--AwardTypeAxis__custom--RepayWithInSixtyDaysMember__us-gaap--DebtInstrumentAxis__custom--ShortTermCollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zxRpJ2wv4az1" title="Repayments of debt">944,000 if repaid within 60 days, $<span id="xdx_90B_eus-gaap--RepaymentsOfDebt_c20221201__20221231__us-gaap--AwardTypeAxis__custom--RepayWithInNinetyDaysMember__us-gaap--DebtInstrumentAxis__custom--ShortTermCollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_za91zUgqXkDf" title="Repayments of debt">968,000 if repaid within 90 days, $<span id="xdx_900_eus-gaap--RepaymentsOfDebt_c20221201__20221231__us-gaap--AwardTypeAxis__custom--RepayWithInOneTwentyDaysMember__us-gaap--DebtInstrumentAxis__custom--ShortTermCollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zfnpg01CMSU1" title="Repayments of debt">1,000,000 if repaid within 120 days, and $<span id="xdx_90B_eus-gaap--RepaymentsOfDebt_c20221201__20221231__us-gaap--AwardTypeAxis__custom--RepayWithInOneFiftyDaysMember__us-gaap--DebtInstrumentAxis__custom--ShortTermCollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zDQkTMxItc7e" title="Repayments of debt">1,088,000 if repaid within 150 days. In December 2022, the Company entered into a promissory note agreement with an individual investor that resulted in gross proceeds of $<span id="xdx_908_eus-gaap--DebtInstrumentCarryingAmount_iI_c20221231__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteAgreementMember__dei--LegalEntityAxis__custom--IndividualInvestorMember_zZ2WjGrU6ZIk">600,000 (the “Principal Amount”). The note has a fixed rate of interest at <span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pid_dp_uPure_c20221201__20221231__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteAgreementMember__dei--LegalEntityAxis__custom--IndividualInvestorMember_zy8RwHJEvNrj">25% per annum payable monthly on the first day of every month. This promissory note matures on <span id="xdx_908_eus-gaap--DebtInstrumentMaturityDate_c20221201__20221231__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteAgreementMember__dei--LegalEntityAxis__custom--IndividualInvestorMember_zVf1RJDQ3Qd8">December 15, 2023, when the Principal Amount is due. The note has various default provisions which would, if triggered, result in the acceleration of the Principal Amount plus any accrued and unpaid interest. The note also has a <span id="xdx_90E_ecustom--EarlyPaymentPenaltyProvisionPercentage_dp_uPure_c20221201__20221231__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteAgreementMember__dei--LegalEntityAxis__custom--IndividualInvestorMember_zRv3L24IFsVd">3% early payment penalty provision. As of March 31, 2023, the amount of principal outstanding on the note was $<span id="xdx_905_eus-gaap--DebtInstrumentCarryingAmount_iI_c20230331__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteAgreementMember__dei--LegalEntityAxis__custom--IndividualInvestorMember_z8tkIzcdfD5k">600,000, and accrued interest outstanding on the note was $<span id="xdx_90B_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_c20230331__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteAgreementMember__dei--LegalEntityAxis__custom--IndividualInvestorMember_zwQrsXhzoH1e">12,312. On December 30, 2022, the Company extinguished <span id="xdx_909_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_c20221230__srt--TitleOfIndividualAxis__custom--SeriesAConvertibleNoteHoldersMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zaSXYL5Zfeme" title="Warrants issued">306,604 warrants (Note 9f) that were originally issued to Series A Convertible Note holders, and replaced these warrants with a new promissory note issued to the same warrant holder. The new promissory note has principal balance of $270,000, stated interest of zero, and matures on June 30, 2023. The Company is obligated to repay 50% of the principal balance on March 31, 2023, and the rest of the promissory notes on the maturity date. The fair value of this new promissory note was $248,479 as of the issuance date, which was calculated using a discount rate that was comparable to other loan issuance at the same time as well as the market bond rates at the time of the promissory note issuance. The difference between the fair value of the new note and its principal balance was $<span id="xdx_903_ecustom--AdjustmentCarryingValueAndPrincipalAmount_iI_c20221230__us-gaap--DebtInstrumentAxis__custom--NewPromissoryNoteMember_zUKSYWW1ECR8" title="Adjustment carrying value and principal amount">21,521, and was recognized as a discount, and will be amortized via effective interest rate method. The Company compared the fair value of the extinguished warrants immediately prior to extinguishment against the fair value of the new promissory note issued. The difference between these fair values is $176,711, and was recognized as other expense on the income statement. As of March 31, 2023, the obligation to repay 50% of the principal balance was waived and amount of principal outstanding on the note was $270,000, and the remaining unamortized discount was $7,304. On March 29, 2023, the Company entered into an additional collateralized bridge loan agreement with a finance company that advanced gross proceeds of $<span id="xdx_906_eus-gaap--ProceedsFromShortTermDebt_c20230329__20230329__us-gaap--DebtInstrumentAxis__custom--CollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zuBaMAjJ367" title="Gross proceeds">300,000, prior to the deduction of issuance costs in the amount of $<span id="xdx_90D_eus-gaap--DeferredFinanceCostsNet_iI_c20230329__us-gaap--DebtInstrumentAxis__custom--CollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zEpgq3XRk75c">12,000. The issuance costs were recognized as a debt discount and would be amortized via the effective interest method. The term of this agreement is 40 weeks. The Company is required to make weekly payments of $<span id="xdx_90E_eus-gaap--DebtInstrumentPeriodicPayment_c20230329__20230329__us-gaap--DebtInstrumentAxis__custom--CollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember__us-gaap--AwardDateAxis__custom--FirstFourWeeksMember_zOBuxEXcrc0a">5,250 for the first four weeks, and $<span id="xdx_901_eus-gaap--DebtInstrumentPeriodicPayment_c20230329__20230329__us-gaap--DebtInstrumentAxis__custom--CollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember__us-gaap--AwardDateAxis__custom--RemainingThirtySixWeeksMember_z9wFiRqeecg3" title="Debt instrument periodic payment">11,083 for the remaining 36 weeks, which is $<span id="xdx_902_eus-gaap--DebtInstrumentCarryingAmount_iI_c20230329__us-gaap--DebtInstrumentAxis__custom--CollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zUfLK0jiI9Ok" title="Long-term debt, gross">420,000 in aggregate. As of March 31, 2023, the amount of principal outstanding under this agreement was $<span id="xdx_902_eus-gaap--DebtInstrumentCarryingAmount_iI_c20230331__us-gaap--DebtInstrumentAxis__custom--CollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zWgcBBA0hKYg" title="Principal amount">300,000 and the remaining unamortized issuance cost discount was $<span id="xdx_901_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_c20230331__us-gaap--DebtInstrumentAxis__custom--CollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zB6EsDz8hxFe" title="Unamortized discount">12,000. The Company has an option to repay the loan earlier and receive a discount on total repayment. The total repayment amount becomes $<span id="xdx_908_eus-gaap--RepaymentsOfDebt_c20230329__20230329__us-gaap--AwardTypeAxis__custom--RepayWithThirtyDaysMember__us-gaap--DebtInstrumentAxis__custom--CollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zIkys61iV5Z5" title="Repayments of debt">345,000 if repaid within 30 days, $<span id="xdx_900_eus-gaap--RepaymentsOfDebt_c20230329__20230329__us-gaap--AwardTypeAxis__custom--RepayWithSixtyDaysMember__us-gaap--DebtInstrumentAxis__custom--CollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zzoFrWH4wWZ3" title="Repayments of debt">354,000 if repaid within 60 days, $<span id="xdx_906_eus-gaap--RepaymentsOfDebt_c20230329__20230329__us-gaap--AwardTypeAxis__custom--RepayWithNinetyDaysMember__us-gaap--DebtInstrumentAxis__custom--CollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_z1RTsZncS1X5" title="Repayments of debt">363,000 if repaid within 90 days and $<span id="xdx_903_eus-gaap--RepaymentsOfDebt_c20230329__20230329__us-gaap--AwardTypeAxis__custom--RepayWithOneTwentyDaysMember__us-gaap--DebtInstrumentAxis__custom--CollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zf4BR2fB7WTj" title="Repayments of debt">375,000 if repaid within 120 days.

SCHEDULE OF CONVERTIBLE NOTES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20220401__20230331_z3sgHA67cNve" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49E_20210401__20220331_zSw0iht8iLB7" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Fiscal Year</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td style="text-align: center">$</td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td style="text-align: center">$</td><td style="text-align: center"> </td></tr> <tr id="xdx_406_ecustom--ConvertibleNotesShortTermLoansAndPromissoryNotes_iS_zCeQQrUB5AMa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: bold; font-style: italic">Balance, beginning of year</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">1,540,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">2,617,798</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--ConversionOfStockAmountIssued1_iN_di_zSzidGFtBYUe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Conversion to common shares (Note 9)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(555,600</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,309,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_ecustom--RedemptionOfConvertibleNotes_iN_di_ztwsbzf0p5n" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Redemption of convertible notes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(126,680</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--ConvertibleNoteModification_ztTsFs8CmPE2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Convertible note extinguishment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(500,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--NewIssuanceOfConvertibleNoteNetOfDiscounts_zOGyiVvzzKK6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">New issuance of convertible note, net of discounts</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,335,243</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--NewIssuanceOfShorttermLoanAndPromissoryNotesNetOfDiscounts_znfzBaVHD3Wc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">New issuance of short-term loan and promissory notes, net of discounts</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,444,480</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--RepaymentsOfDebt_iN_di_zmmhIMu5mEAa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Repayment of short-term loans</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(440,470</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AmortizationOfDebtDiscountPremium_zeGvJZVlE5ed" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Accretion and amortization of discounts</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">77,495</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">9,231,202</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--ConvertibleNotesShortTermLoansAndPromissoryNotes_iE_zBGIsrFNQTOc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; font-style: italic; padding-bottom: 2.5pt">Balance, end of year</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">4,774,468</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,540,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1540000 2617798

555600

10309000

126680 -500000 2335243 2444480

440470

77495

9231202

4774468 1540000

111040

546878

11275500

0.12

(i) the Outstanding Balance divided by (ii) 75% of the volume weighted average price of the Common Stock for the 5 trading days prior to the Conversion Date (the conversion price).

the notes would automatically convert into common stock (in each case, subject to the trading volume of the Company’s common stock being a minimum of $500,000 for each trading day in the 20 consecutive trading days immediately preceding the conversion date), upon the earlier to occur of (i) the Company’s common stock being listed on a national securities exchange, in which event the conversion price would be equal to 75% of the volume weighted average price of the common stock for the 20 trading days prior to the conversion date, or (ii) upon the closing of the Company’s next equity round of financing for gross proceeds of greater than $5,000,000, in which event the conversion price would be equal to 75% of the price per share of the common stock (or of the conversion price in the event of the sale of securities convertible into common stock) sold in such financing. The Company could, at its discretion redeem the notes for 115% of their face value plus accrued interest.

4.00

75% of the volume weighted average price of the common stock for the five trading days prior to the conversion date

the notes would automatically convert into common stock (in each case, subject to the trading volume of the Company’s common stock being a minimum of $500,000 for each trading day in the 20 consecutive trading days immediately preceding the conversion date), upon the earlier to occur of (i) the Company’s common stock being listed on a national securities exchange, in which event the conversion price would be equal to the lower of $4.00 per share or 75% of the volume weighted average price of the common stock for the 20 trading days prior to the conversion date, or (ii) upon the closing of the Company’s next equity round of financing for gross proceeds of greater than $5,000,000, in which event the conversion price would be equal to the lower of $4.00 per share or 75% of the price per share of the common stock (or of the conversion price in the event of the sale of securities convertible into common stock) sold in such financing. The Company could, at its discretion redeem the notes for 115% of their face value plus accrued interest

10135690

The Company was also obligated to issue warrants to the placement agent that have a 10-year term and cover 12% of funds raised for $8,925,550 (face value) of the notes (first series) and 2.5% of funds raised for the remaining $2,350,000 (face value) of notes (second series), with an exercise price that is 120% of the 20-day volume weighted average price of the Company’s common shares at the time final closing. On final closing, which occurred on January 8, 2021, the warrants’ exercise price was struck at $1.06 per share.

2301854

8088003

500000

121500

621500

0.12

0.75

2023-12-30

621500

64636

14083

49393

74912

1312500

The holder may exercise such conversion right by providing written notice to the Company of such exercise in a form reasonably acceptable to the Company (a “conversion notice”). Conversion price means (subject in all cases to proportionate adjustment for stock splits, stock dividends, and similar transactions), seventy-five percent (75%) multiplied by the average of the three (3) lowest closing prices during the previous ten (10) trading days prior to the receipt of the conversion notice

P3Y

1.06

100000

1.5

212500

1240000

10000

1312500

472500

207516

840000

555600

761038

126680

145682

The redemption price was determined in accordance to the Series B note agreement, where the Company has an option to redeem the note at 115% of its principal value instead of converting the note upon receipt of a conversion notice. The difference between the redemption cash payment and the book value of the note redeemed, including the derivative liability associated to the note

24408

84863

821500

157720

200000 157720

590000

0.15

(i) seventy-five percent (75%) of the VWAP for the five (5) Trading Days prior to the Conversion Date, or (ii) eighty percent (80%) of the gross sale price per share of Common Stock (or conversion or exercise price per share of Common Stock of any Common Stock Equivalents) sold in a Qualified Financing

the notes would convert into common stock at the applicable “Mandatory Conversion Price”, if either (i) on each of any twenty (20) consecutive Trading Days (the “Measurement Period”) (A) the closing price of the Common Stock on the applicable Trading Market is at least $3.00 per share and (B) the dollar value of average daily trades of the Common Stock on the applicable Trading Market is at least $400,000 per Trading Day; or (ii) upon the closing of a Qualified Financing, provided that the dollar value of average daily trades of the Common Stock on the applicable National Exchange on each of the ten (10) consecutive Trading Days following such closing is at least $400,000 per Trading Day. Mandatory Conversion Price means, in the case of a Mandatory Conversion under situation (i) above, seventy percent (70%) of the VWAP over the Measurement Period, or in the case of a Mandatory Conversion under situation (ii) above, eighty percent (80%) of the gross sale price per share of Common Stock (or conversion or exercise price per share of Common Stock of any Common Stock Equivalents) sold in a Qualified Financing

The Company was obligated to issue warrants that accompany the convertible notes and provide 100% warrant coverage. The warrants have a 4-year term from date of issuance and an exercise price that is 200% of the 5-day volume weighted average price of the Company’s common shares at the time final closing The Company was obligated to pay the placement agent of the first series of Series C Notes a 10% cash fee for the face value of the notes The Company was also obligated to issue warrants to the placement agent that have a 10-year term and cover 8% of face value of the notes, with an exercise price that equals to the 5-day volume weighted average price of the Company’s common shares at the time final closing

501000

89000

501000

184417

685417

501000

2598

578589

2000000

0.10

270270 221621

186404

400000

9999

P280D

13995

560000

275462

6142

512000

520000

528000

800000

32000

P280D

29556

13999

1120000

620418

20800

920000

944000

968000

1000000

1088000

600000

0.25

2023-12-15

0.03

600000

12312

306604

270000

2023-06-30

0.50

248479

21521 176711 0.50

270000

7304

300000

12000

5250

11083

420000

300000

12000

345000

354000

363000

375000

6. TERM LOAN AND CREDIT AGREEMENT Term Loan On December 21, 2021, the Company entered into a Credit Agreement (“Credit Agreement”) with SWK Funding LLC (“Lender’); as part of this, the Company has borrowed $12.4 million, with a maturity date of December 21, 2026. The principal will accrue interest at the LIBOR Rate plus 10.5% per annum (subject to adjustment as set forth in the Credit Agreement). Interest payments are due on each February, May, August and November commencing February 15, 2022. Pursuant to the Credit Agreement, the Company will be required to make interest only payments for the first 24 months (which may be extended to 36 months under prescribed circumstances), after which payments will include principal amortization that accommodates a 40% balloon principal payment at maturity. Prepayment of amounts owing under the Credit Agreement are allowed under prescribed circumstances. Pursuant to the Credit Agreement the Company is subject to an Origination Fee in the amount of $120,000. Upon Termination of the Credit Agreement, the Company shall pay an Exit Fee of $600,000.  BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars) As part of the loan transaction, the Company paid legal and professional costs directly in connection to the debt financing in the amount of $50,000 in cash. Total costs directly in connection to the debt financing in the amount of $193,437 (professional fee $48,484; lender’s origination fee, due diligence fee, and other expenses in the amount of $144,953) was deduced from the gross proceeds in the amount of $12,000,000. The Company also repaid $1,574,068 of existing short-term loan and promissory notes and relevant accrued interests by using the proceeds from the loan. Total costs directly in connection to the loan and fair value of warrants was in the amount of $1,042,149. And such costs were accounted as debt discount, and amortized using the effective interest method. The amortization of such debt discount was included in the accretion and amortization expenses. For the years ended March 31, 2023 and 2022, the amortization of debt discount expense was $202,138 and $54,822 respectively. Total interest expense on the term loan for the years ended March 31, 2023 and 2022 $1,646,903 and $379,500, respectively. During November 2022, the unpaid interest of $364,000 was added to the outstanding principal balance, since then interest onwards would be calculated on the updated principal balance. The Company had accrued interest payable of $239,614 and $164,833, respectively, as of March 31, 2023 and March 31, 2022. The Company and Lender also entered into a Guarantee and Collateral Agreement (“Collateral Agreement”) wherein the Company agreed to secure the Credit Agreement with all of the Company’s assets. The Company and Lender also entered into an Intellectual Property Security Agreement dated December 21, 2021 (the “IP Security Agreement”) wherein the Credit Agreement is also secured by the Company’s right title and interest in the Company’s Intellectual Property. In connection with the Credit Agreement, the Company issued 57,536 warrants to the Lender, which were fair-valued at $198,713 at issuance (Note 9). The warrants are accounted as a deduction from liability as well as a credit into additional paid-in capital, and amortized using the effective interest method. At March 31, 2023, the Company was not in compliance with certain covenants of the term loan, for which it sought and received relief from the term loan lender.

12400000

2026-12-21

0.105

2022-02-15

Pursuant to the Credit Agreement, the Company will be required to make interest only payments for the first 24 months (which may be extended to 36 months under prescribed circumstances), after which payments will include principal amortization that accommodates a 40% balloon principal payment at maturity. Prepayment of amounts owing under the Credit Agreement are allowed under prescribed circumstances

120000 600000

50000

193437

48484

144953

12000000

1574068

1042149

202138

54822

1646903

379500

364000

239614

164833

57536

198713

7. FEDERALLY GUARANTEED LOAN Economic Injury Disaster Loan (“EIDL”) In April 2020, the Company received $370,900 from the U.S. Small Business Administration (SBA) under the captioned program. The loan has a term of 30 years and an interest rate of 3.75% per annum, without the requirement for payment in its first 12 months. The Company may prepay the loan without penalty at will. In May 2021, the Company received an additional $499,900 from the SBA under the same terms. As of March 31, 2023, the Company recorded accrued interest of $65,247 for the EIDL loan (March 31, 2022: $44,233). Interest expense on the above loan was $32,654 and $44,233 for the years ended March 31, 2023 and 2022, respectively. BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars)

370900

P30Y

0.0375

499900

65247

44233

32654

44233

<p id="xdx_801_eus-gaap--DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_zAGRzkKFh3l9" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">8. DERIVATIVE LIABILITIES On December 19, 2019 and January 9, 2020, the Company issued 7,830 Series A preferred shares; <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20191218__20191219__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_z8xIa2bQPDi1" title="Issuance of common shares for private placement, shares"><span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20200108__20200109__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zHM42Rv7myo8" title="Issuance of common shares for private placement, shares">6,000 of these were issued for cash proceeds of $<span id="xdx_900_eus-gaap--ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_pp0p0_c20191218__20191219__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zH8laZ1jrkji" title="Issuance of preferred shares">6,000,000 and 1,830 of these were issued on conversion of $1,830,000 of promissory notes that had previously been issued for cash proceeds in October 2019. On May 22, 2020, another 215 Series A preferred shares were issued as a result of a combined transaction that included the conversion of $<span id="xdx_909_eus-gaap--DebtConversionConvertedInstrumentAmount1_pp0p0_c20200520__20200522__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zu9Ga3zFUNN4" title="Debt conversion, converted instrument, amount">100,000 in promissory notes and $15,000 in accrued interest for <span id="xdx_90B_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_c20200520__20200522__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zAedZxZkeyEj" title="Debt conversion, converted instrument, shares issued">115 preferred shares, as well as a purchase of <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_c20200520__20200522__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zx92UmTel2K2" title="Stock issued during period, shares, acquisitions">100 preferred shares for cash proceeds of $<span id="xdx_908_eus-gaap--ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_pp0p0_c20200520__20200522__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zD6qavuH8DWf" title="Issuance of preferred shares">100,000. During the three months ended September 30, 2021, an additional 100 Series A preferred shares were issued for cash proceeds of $100,000 (Note 9 d). During the three months ended December 31, 2021, the Company redeemed $<span id="xdx_906_eus-gaap--StockRedeemedOrCalledDuringPeriodValue_pp0p0_c20211001__20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zERyezn7ddIa" title="Stock redeemed or called during period, value">230,000 preferred shares through cash. The total amount of the preferred shares redeemed and derivative liabilities derecognized was $<span id="xdx_909_ecustom--RedeemedAndDerivativeLiabilities_pp0p0_c20211001__20211231__us-gaap--FairValueByLiabilityClassAxis__us-gaap--DerivativeFinancialInstrumentsLiabilitiesMember_zHJVresKYAdl" title="Redeemed and derivative liabilities">225,919. The difference of redemption value of $<span id="xdx_908_eus-gaap--StockRedeemedOrCalledDuringPeriodValue_pp0p0_c20211001__20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zAtD8qObeDG1" title="Stock redeemed or called during period, value">230,000 and the carrying value of preferred shares on the day of redemption was $<span id="xdx_903_eus-gaap--InvestmentCompanyDividendDistribution_pp0p0_c20211001__20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zMIJr8Y7f436" title="Investment company, dividend distribution">4,081 was recognized as a deemed dividend distribution. In addition, during the three months ended December 31, 2021, the Company converted $<span id="xdx_90F_eus-gaap--ConvertiblePreferredStockConvertedToOtherSecurities_pp0p0_c20211001__20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_z3PjnNRoPhYa" title="Convertible preferred stock converted to other securities">715,000 preferred shares into <span id="xdx_907_eus-gaap--PreferredStockConvertibleSharesIssuable_iI_pp0p0_c20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zPxRMlFb4gE5" title="Preferred stock, convertible, shares issuable">288,756 common shares. The difference between the total amount of the preferred shares converted, derivative liabilities derecognized and unpaid interests at the time of conversion ($<span id="xdx_900_eus-gaap--DepositLiabilitiesAccruedInterest_iI_pp0p0_c20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zAUSZ4GGgEFc" title="Deposit liabilities, accrued interest">1,076,513), and the fair value of the common shares converted ($<span id="xdx_90E_eus-gaap--StockRedeemedOrCalledDuringPeriodValue_pp0p0_c20211001__20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zQZUUCtnMiPg" title="Stock redeemed or called during period, value">1,226,406) was $<span id="xdx_909_eus-gaap--InvestmentCompanyDividendDistribution_pp0p0_c20211001__20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zLMEjXaYUYx3" title="Investment company, dividend distribution">149,893 and was recognized as deemed dividend distribution. During the three months ended June 30, 2022, the Company redeemed $<span id="xdx_906_eus-gaap--StockRedeemedOrCalledDuringPeriodValue_pp0p0_c20220401__20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zUyfoi6IODck" title="Stock redeemed or called during period, value">328,904 preferred shares through cash. The total amount of the preferred shares redeemed and derivative liabilities derecognized was $<span id="xdx_90A_ecustom--RedeemedAndDerivativeLiabilities_pp0p0_c20220401__20220630__us-gaap--FairValueByLiabilityClassAxis__us-gaap--DerivativeFinancialInstrumentsLiabilitiesMember_zOBBzge8xTTa" title="Redeemed and derivative liabilities">296,032. The difference of redemption value of $<span id="xdx_90E_eus-gaap--StockRedeemedOrCalledDuringPeriodValue_pp0p0_c20220401__20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zdy7GWIARpd8" title="Stock redeemed or called during period, value">328,904 and the carrying value of preferred shares on the day of redemption was $<span id="xdx_908_eus-gaap--InvestmentCompanyDividendDistribution_pp0p0_c20220401__20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zMdjGtuxMbd" title="Investment company, dividend distribution">32,872 and was recognized as a deemed dividend distribution During the three months ended September 30, 2022, the Company redeemed $<span id="xdx_90E_eus-gaap--StockRedeemedOrCalledDuringPeriodValue_pp0p0_c20220701__20220930__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_z6lABgjXz6w8" title="Stock redeemed or called during period, value">69,852 preferred shares through cash. The total amount of the preferred shares redeemed and derivative liabilities derecognized was $<span id="xdx_90C_ecustom--RedeemedAndDerivativeLiabilities_pp0p0_c20220701__20220930__us-gaap--FairValueByLiabilityClassAxis__us-gaap--DerivativeFinancialInstrumentsLiabilitiesMember_zX3JvKyNBQw4" title="Redeemed and derivative liabilities">65,062. The difference of redemption value of $<span id="xdx_903_eus-gaap--StockRedeemedOrCalledDuringPeriodValue_pp0p0_c20220701__20220930__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zbvvPfHnxC9h" title="Stock redeemed or called during period, value">69,852 and the carrying value of preferred shares on the day of redemption was $<span id="xdx_90C_eus-gaap--InvestmentCompanyDividendDistribution_pp0p0_c20220701__20220930__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_z3obq62p0PXk" title="Investment company, dividend distribution">4,790 and was recognized as a deemed dividend distribution. During the three months ended December 31, 2022, the Company redeemed $<span id="xdx_904_eus-gaap--StockRedeemedOrCalledDuringPeriodValue_pp0p0_c20221001__20221231__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zHpcpREcLVAi" title="Stock redeemed or called during period, value">496,800 preferred shares through cash. The total amount of the preferred shares redeemed and derivative liabilities derecognized was $<span id="xdx_908_ecustom--RedeemedAndDerivativeLiabilities_pp0p0_c20221001__20221231__us-gaap--FairValueByLiabilityClassAxis__us-gaap--DerivativeFinancialInstrumentsLiabilitiesMember_zIfLnTXcn2c8" title="Redeemed and derivative liabilities">469,116. The difference of redemption value of $<span id="xdx_909_eus-gaap--StockRedeemedOrCalledDuringPeriodValue_pp0p0_c20221001__20221231__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_z52gVI1A7yg7" title="Stock redeemed or called during period, value">496,800 and the carrying value of preferred shares on the day of redemption was $<span id="xdx_90A_eus-gaap--InvestmentCompanyDividendDistribution_pp0p0_c20221001__20221231__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_ziBZtaEPfgm4" title="Investment company, dividend distribution">27,684 and was recognized as a deemed dividend distribution. The Company analyzed the compound features of variable conversion and redemption embedded in the preferred shares instrument, for potential derivative accounting treatment on the basis of ASC 820 (Fair Value in Financial Instruments), ASC 815 (Accounting for Derivative Instruments and Hedging Activities), Emerging Issues Task Force (“EITF”) Issue No. 00–19 and EITF 07–05, and determined that the embedded derivatives should be bundled and valued as a single, compound embedded derivative, bifurcated from the underlying equity instrument, treated as a derivative liability, and measured at fair value. SCHEDULE OF DERIVATIVE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_498_20220401__20230331_zuEx9Ibuizjh" style="border-bottom: Black 1.5pt solid; text-align: center">Fiscal Year 2023 $</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49D_20210401__20220331_zX4U3t2wPeLe" style="border-bottom: Black 1.5pt solid; text-align: center">Fiscal Year 2022 $</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_40B_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_znEjgtpJaqF7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Derivative liabilities, beginning of year</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">352,402</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">410,042</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues_znn8xuOPRgE8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">New issuance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,084</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_zSZCu1EaTIP6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in fair value of derivatives during the Year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">459,699</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">398,111</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--ReductionDueToPreferredSharesRedeemed_zicp3Ty37zh4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Reduction due to preferred shares redeemed</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(53,036</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(472,835</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--ConversionOfStockAmountConverted1_zAgCrLbKTa03" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Conversion to common shares</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--ConversionOfStockAmountModification_zwJgP34HpcMf" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Convertible note modification</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--ConversionOfStockAmountRedemption_z2aia4muQjjc" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Convertible note redemption</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_zXKM6VsLvIbg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Derivative liabilities, end of year</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">759,065</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">352,402</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> BIOTRICITY INC. Notes to Consolidated Financial Statements The lattice methodology was used to value the derivative components, using the following assumptions: SCHEDULE OF DERIVATIVE COMPONENTS VALUATION ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Fiscal Year</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Fiscal Year</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Dividend yield (%)</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 16%; font-weight: bold; text-align: right"><span id="xdx_904_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20230331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zDLLhbR4KSCj" title="Derivative liability, measurement input">12</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_900_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20220331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zK0bqg6KxCu4" title="Derivative liability, measurement input">12</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk-free rate for term (%)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span id="xdx_90C_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20230331__srt--RangeAxis__srt--MinimumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zJkGbmwFSqPc">1.90 – <span id="xdx_901_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20230331__srt--RangeAxis__srt--MaximumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zlkMoZ6Hdpql">4.40</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20220331__srt--RangeAxis__srt--MinimumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zLl3wwj9BER1" title="Derivative liability, measurement input">1.63 - <span id="xdx_90E_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20220331__srt--RangeAxis__srt--MaximumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zqhOULbetv2l" title="Derivative liability, measurement input">1.71</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Volatility (%)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span id="xdx_906_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20230331__srt--RangeAxis__srt--MinimumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zD3IZv47mKTj">82.2 – <span id="xdx_901_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20230331__srt--RangeAxis__srt--MaximumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zRQYBtSlaulk">108.2</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20220331__srt--RangeAxis__srt--MinimumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zaLwmEAyPW9g" title="Derivative liability, measurement input">101.7 - <span id="xdx_901_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20220331__srt--RangeAxis__srt--MaximumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zo0jqa5nDULh" title="Derivative liability, measurement input">110.5</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Remaining terms (Years)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span id="xdx_90D_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20220401__20230331__srt--RangeAxis__srt--MinimumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zreXZ5gLRZwh">0.5 – <span id="xdx_906_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20220401__20230331__srt--RangeAxis__srt--MaximumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_z87ECoia1Zxd">1.12</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20210401__20220331__srt--RangeAxis__srt--MinimumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zKj1jmf1gXvj" title="Remaining terms">3.17 - <span id="xdx_90B_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20210401__20220331__srt--RangeAxis__srt--MaximumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zQiObhvCqGUl" title="Remaining terms">4.00</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Stock price ($ per share)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">0.45 – 1.77</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.27 - 3.98</td><td style="text-align: left"> </td></tr> </table> In addition, the Company recorded derivative liabilities related to the conversion and redemption features of the convertible notes, as well as warrants that were issued in connection with the convertible notes (Note 5). Any noteholder and placement agent warrants that were issued after the finalization of exercise price was accounted for as equity. <p id="xdx_891_eus-gaap--ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock_hus-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zGDSiSfA3vj3" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">SCHEDULE OF DERIVATIVE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20220401__20230331__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zYmSN7rbb0hd" style="border-bottom: Black 1.5pt solid; text-align: center">Fiscal Year 2023 $</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20210401__20220331__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zNeIqZ3kzOJ3" style="border-bottom: Black 1.5pt solid; text-align: center">Fiscal Year 2022 $</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40D_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_zrHGIt97ltl2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: bold; font-style: italic">Balance beginning of year</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">520,747</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">3,633,856</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues_zq1FghMbAOPh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">New Issuance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">685,417</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ConversionOfStockAmountConverted1_iN_di_zfkDeN2ajcDk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Conversion to common shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(192,794</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,398,557</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_zqC041bfEex9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in fair value of derivative liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">24,174</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">285,448</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--ReductionDueToPreferredSharesConverted_zD3GQfRS787c" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Reduction due to preferred shares redeemed</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--ConversionOfStockAmountModification_zpIh1mGPmFZ6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Convertible note modification</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,082</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--ConversionOfStockAmountRedemption_zvlHbGCWEa41" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Convertible note redemption</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(43,410</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_zw05aScgP134" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; font-style: italic; padding-bottom: 2.5pt">Balance end of year</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,008,216</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">520,747</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_893_eus-gaap--ScheduleOfAssumptionsUsedTableTextBlock_hus-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zNkztw2qBnt2" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The Monte-Carlo methodology was used to value the convertible note and warrant derivative components, using the following assumptions: SCHEDULE OF DERIVATIVE COMPONENTS VALUATION ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center">Fiscal Year</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center">Fiscal Year</td><td style="font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Risk-free rate for term (%)</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 14%; font-weight: bold; text-align: right"><span id="xdx_907_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20230331__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zSzqJjr3IAyd" title="Derivative liability, measurement input">4.10 – <span id="xdx_906_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20230331__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zniFWwB7kV5e" title="Derivative liability, measurement input">4.70</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span id="xdx_90F_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20220331__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zIY2NTJYD2Wl" title="Derivative liability, measurement input">0.40 - <span id="xdx_90D_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20220331__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zLrlCf5mjAbe" title="Derivative liability, measurement input">1.37</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Volatility (%)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span id="xdx_905_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20230331__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_ze97XvaEPWG" title="Derivative liability, measurement input">92.2 – <span id="xdx_905_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20230331__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_z0VQ4hjGsu41" title="Derivative liability, measurement input">94.5</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20220331__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zfovHc8aSQQj" title="Derivative liability, measurement input">66.1 - <span id="xdx_901_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20220331__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zGdUH73uNjl" title="Derivative liability, measurement input">80.3</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Remaining terms (Years)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span id="xdx_904_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20220401__20230331__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zSuaZlJZV7B2" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.34 – <span id="xdx_908_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20220401__20230331__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_z85WpDi30dmk">1.59</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20210401__20220331__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zKiHgbNS4bV5" title="Remaining terms">0.12 - <span id="xdx_901_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20210401__20220331__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zSQciH33fS9" title="Remaining terms">0.29</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Stock price ($ per share)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span id="xdx_90D_ecustom--DerivativeStockPrice_iI_pid_c20230331__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember_zwVV9YU9zkSg" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.46 – 0.78</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_ecustom--DerivativeStockPrice_iI_pid_c20220331__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember_zvgH7bWVSErl" title="Stock price">2.27 - <span id="xdx_903_ecustom--DerivativeStockPrice_iI_pid_c20220331__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember_ziG1MXdzYLK5" title="Stock price">3.98</td><td style="text-align: left"> </td></tr> </table>

7830

6000

6000000

1830

1830000

215

100000

15000

115

100

100000

100

100000

230000

225919

230000

4081

715000

288756

1076513

1226406

149893

328904

296032

328904

32872

69852

65062

69852

4790

496800

469116

496800

27684

SCHEDULE OF DERIVATIVE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_498_20220401__20230331_zuEx9Ibuizjh" style="border-bottom: Black 1.5pt solid; text-align: center">Fiscal Year 2023 $</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49D_20210401__20220331_zX4U3t2wPeLe" style="border-bottom: Black 1.5pt solid; text-align: center">Fiscal Year 2022 $</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_40B_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_znEjgtpJaqF7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Derivative liabilities, beginning of year</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">352,402</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">410,042</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues_znn8xuOPRgE8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">New issuance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,084</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_zSZCu1EaTIP6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in fair value of derivatives during the Year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">459,699</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">398,111</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--ReductionDueToPreferredSharesRedeemed_zicp3Ty37zh4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Reduction due to preferred shares redeemed</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(53,036</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(472,835</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--ConversionOfStockAmountConverted1_zAgCrLbKTa03" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Conversion to common shares</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--ConversionOfStockAmountModification_zwJgP34HpcMf" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Convertible note modification</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--ConversionOfStockAmountRedemption_z2aia4muQjjc" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Convertible note redemption</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_zXKM6VsLvIbg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Derivative liabilities, end of year</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">759,065</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">352,402</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

352402

410042

17084

459699

398111

-53036 -472835

759065

352402

The lattice methodology was used to value the derivative components, using the following assumptions: SCHEDULE OF DERIVATIVE COMPONENTS VALUATION ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Fiscal Year</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Fiscal Year</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Dividend yield (%)</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 16%; font-weight: bold; text-align: right"><span id="xdx_904_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20230331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zDLLhbR4KSCj" title="Derivative liability, measurement input">12</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_900_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20220331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zK0bqg6KxCu4" title="Derivative liability, measurement input">12</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk-free rate for term (%)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span id="xdx_90C_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20230331__srt--RangeAxis__srt--MinimumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zJkGbmwFSqPc">1.90 – <span id="xdx_901_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20230331__srt--RangeAxis__srt--MaximumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zlkMoZ6Hdpql">4.40</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20220331__srt--RangeAxis__srt--MinimumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zLl3wwj9BER1" title="Derivative liability, measurement input">1.63 - <span id="xdx_90E_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20220331__srt--RangeAxis__srt--MaximumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zqhOULbetv2l" title="Derivative liability, measurement input">1.71</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Volatility (%)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span id="xdx_906_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20230331__srt--RangeAxis__srt--MinimumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zD3IZv47mKTj">82.2 – <span id="xdx_901_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20230331__srt--RangeAxis__srt--MaximumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zRQYBtSlaulk">108.2</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20220331__srt--RangeAxis__srt--MinimumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zaLwmEAyPW9g" title="Derivative liability, measurement input">101.7 - <span id="xdx_901_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20220331__srt--RangeAxis__srt--MaximumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zo0jqa5nDULh" title="Derivative liability, measurement input">110.5</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Remaining terms (Years)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span id="xdx_90D_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20220401__20230331__srt--RangeAxis__srt--MinimumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zreXZ5gLRZwh">0.5 – <span id="xdx_906_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20220401__20230331__srt--RangeAxis__srt--MaximumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_z87ECoia1Zxd">1.12</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20210401__20220331__srt--RangeAxis__srt--MinimumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zKj1jmf1gXvj" title="Remaining terms">3.17 - <span id="xdx_90B_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20210401__20220331__srt--RangeAxis__srt--MaximumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zQiObhvCqGUl" title="Remaining terms">4.00</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Stock price ($ per share)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">0.45 – 1.77</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.27 - 3.98</td><td style="text-align: left"> </td></tr> </table>

1.90

4.40

1.63

1.71

82.2

108.2

101.7

110.5

P0Y6M P1Y1M13D P3Y2M1D P4Y 0.45 1.77 2.27 3.98

<p id="xdx_891_eus-gaap--ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock_hus-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zGDSiSfA3vj3" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">SCHEDULE OF DERIVATIVE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20220401__20230331__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zYmSN7rbb0hd" style="border-bottom: Black 1.5pt solid; text-align: center">Fiscal Year 2023 $</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20210401__20220331__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zNeIqZ3kzOJ3" style="border-bottom: Black 1.5pt solid; text-align: center">Fiscal Year 2022 $</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40D_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_zrHGIt97ltl2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: bold; font-style: italic">Balance beginning of year</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">520,747</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">3,633,856</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues_zq1FghMbAOPh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">New Issuance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">685,417</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ConversionOfStockAmountConverted1_iN_di_zfkDeN2ajcDk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Conversion to common shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(192,794</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,398,557</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_zqC041bfEex9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in fair value of derivative liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">24,174</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">285,448</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--ReductionDueToPreferredSharesConverted_zD3GQfRS787c" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Reduction due to preferred shares redeemed</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--ConversionOfStockAmountModification_zpIh1mGPmFZ6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Convertible note modification</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,082</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--ConversionOfStockAmountRedemption_zvlHbGCWEa41" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Convertible note redemption</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(43,410</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_zw05aScgP134" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; font-style: italic; padding-bottom: 2.5pt">Balance end of year</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,008,216</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">520,747</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

520747

3633856

685417

192794

3398557

24174

285448

14082 -43410

1008216

520747

<p id="xdx_893_eus-gaap--ScheduleOfAssumptionsUsedTableTextBlock_hus-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zNkztw2qBnt2" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The Monte-Carlo methodology was used to value the convertible note and warrant derivative components, using the following assumptions: SCHEDULE OF DERIVATIVE COMPONENTS VALUATION ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center">Fiscal Year</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center">Fiscal Year</td><td style="font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Risk-free rate for term (%)</td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 14%; font-weight: bold; text-align: right"><span id="xdx_907_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20230331__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zSzqJjr3IAyd" title="Derivative liability, measurement input">4.10 – <span id="xdx_906_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20230331__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zniFWwB7kV5e" title="Derivative liability, measurement input">4.70</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span id="xdx_90F_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20220331__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zIY2NTJYD2Wl" title="Derivative liability, measurement input">0.40 - <span id="xdx_90D_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20220331__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zLrlCf5mjAbe" title="Derivative liability, measurement input">1.37</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Volatility (%)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span id="xdx_905_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20230331__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_ze97XvaEPWG" title="Derivative liability, measurement input">92.2 – <span id="xdx_905_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20230331__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_z0VQ4hjGsu41" title="Derivative liability, measurement input">94.5</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20220331__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zfovHc8aSQQj" title="Derivative liability, measurement input">66.1 - <span id="xdx_901_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20220331__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zGdUH73uNjl" title="Derivative liability, measurement input">80.3</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Remaining terms (Years)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span id="xdx_904_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20220401__20230331__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zSuaZlJZV7B2" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.34 – <span id="xdx_908_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20220401__20230331__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_z85WpDi30dmk">1.59</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20210401__20220331__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zKiHgbNS4bV5" title="Remaining terms">0.12 - <span id="xdx_901_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20210401__20220331__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zSQciH33fS9" title="Remaining terms">0.29</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Stock price ($ per share)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span id="xdx_90D_ecustom--DerivativeStockPrice_iI_pid_c20230331__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember_zwVV9YU9zkSg" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.46 – 0.78</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_ecustom--DerivativeStockPrice_iI_pid_c20220331__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember_zvgH7bWVSErl" title="Stock price">2.27 - <span id="xdx_903_ecustom--DerivativeStockPrice_iI_pid_c20220331__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember_ziG1MXdzYLK5" title="Stock price">3.98</td><td style="text-align: left"> </td></tr> </table>

4.10

4.70

0.40

1.37

92.2

94.5

66.1

80.3

P1Y4M2D P1Y7M2D P0Y1M13D P0Y3M14D 0.46 0.78 2.27 3.98

9. STOCKHOLDERS’ DEFICIENCY STOCKHOLDERS’ DEFICIENCY AND MEZZANINE EQUITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(a)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Authorized and Issued Stock</td></tr></table> As at March 31, 2023, the Company is authorized to issue 125,000,000 (March 31, 2022 – 125,000,000) shares of common stock ($0.001 par value), and 10,000,000 (March 31, 2022 – 10,000,000) shares of preferred stock ($0.001 par value), 20,000 of which (March 31, 2022 – 20,000) are designated shares of Series A preferred stock ($0.001 par value) At March 31, 2023, common shares and shares directly exchangeable into equivalent common shares that were issued and outstanding totaled <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220401__20230331__srt--TitleOfIndividualAxis__custom--ShareholdersMember__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementMember_z4P2HK4xEb28" title="Issuance of common shares for private placement, shares">52,514,582 (2022 – <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210401__20220331__srt--TitleOfIndividualAxis__custom--ShareholdersMember__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementMember_zclNTjE3eWsg" title="Issuance of common shares for private placement, shares">51,277,040) shares; these were comprised of 51,047,864 (2022 – 49,810,322) shares of common stock and 1,466,718 (2022 – 1,466,718) exchangeable shares. At March 31, 2023, there were 6,304 Series A shares of Preferred Stock that were issued and outstanding (2022 – 7,200). There is also one share of the Special Voting Preferred Stock issued and outstanding held by one holder of record, which is the Trustee in accordance with the terms of the Trust Agreement and outstanding as at March 31, 2023 and 2022. BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars) (b) Exchange Agreement On February 2, 2016, the Company was formed through reverse-take-over: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_90D_ecustom--CommonStockExchangeDescription_c20160201__20160202__srt--TitleOfIndividualAxis__custom--ShareholdersMember__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementMember_zU2DNR9nxh1f" title="Common stock exchange description">The Company issued approximately 1.197 shares of its common stock in exchange for each common share of iMedical held by the iMedical shareholders who in general terms, are not residents of Canada (for the purposes of the Income Tax Act (Canada). Accordingly, the Company issued <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20160201__20160202__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementMember_zaUcDarTkHDh" title="Stock issued during period shares new issues">13,376,947 shares;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_902_ecustom--CommonStockExchangeDescription_c20160201__20160202__srt--TitleOfIndividualAxis__custom--ExchangecoMember__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementMember_zeSwzozBHnpk" title="Common stock exchange description">Shareholders of iMedical who in general terms, are Canadian residents (for the purposes of the Income Tax Act (Canada)) received approximately 1.197 Exchangeable Shares in the capital of Exchangeco in exchange for each common share of iMedical held. Accordingly, the Company issued <span id="xdx_90A_ecustom--NumberOfExchangeableSharesIssued_c20160201__20160202__srt--TitleOfIndividualAxis__custom--ExchangecoMember__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementMember_zPchj5GDI5aj" title="Number of exchangeable shares issued">9,123,031 Exchangeable Shares;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_903_ecustom--CommonStockExchangeDescription_c20160201__20160202__srt--StatementScenarioAxis__custom--OptionsMember__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementMember_zNsMLAXJ0DJi" title="Common stock exchange description">Each outstanding option to purchase common shares in iMedical (whether vested or unvested) was exchanged, without any further action or consideration on the part of the holder of such option, for approximately 1.197 economically equivalent replacement options with an inverse adjustment to the exercise price of the replacement option to reflect the exchange ratio of approximately 1.197:1;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_90E_ecustom--CommonStockExchangeDescription_c20160201__20160202__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementMember_znoUFJB36Ne1" title="Common stock exchange description">Each outstanding warrant to purchase common shares in iMedical was adjusted, in accordance with the terms thereof, such that it entitles the holder to receive approximately 1.197 shares of the common stock of the Company for each warrant, with an inverse adjustment to the exercise price of the warrants to reflect the exchange ratio of approximately 1.197:1</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_907_ecustom--CommonStockExchangeDescription_c20160201__20160202__us-gaap--StatementEquityComponentsAxis__custom--AdvisorWarrantMember__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementMember_zTIHvVEu0pE2" title="Common stock exchange description">Each outstanding advisor warrant to purchase common shares in iMedical was adjusted, in accordance with the terms thereof, such that it entitles the holder to receive approximately 1.197 shares of the common stock of the Company for each advisor warrant, with an inverse adjustment to the exercise price of the Advisor Warrants to reflect the exchange ratio of approximately 1.197:1; and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_90A_eus-gaap--ConversionOfStockDescription_c20160201__20160202__us-gaap--DebtInstrumentAxis__custom--ElevenPercentageSecuredConvertiblePromissoryNotesMember__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementMember_zTDfSGuNLcVl" title="Common stock exchange description">The outstanding 11% secured convertible promissory notes of iMedical were adjusted, in accordance with the adjustment provisions thereof, as and from closing, so as to permit the holders to convert (and in some circumstances permit the Company to force the conversion of) the convertible promissory notes into shares of the common stock of the Company at a <span id="xdx_905_ecustom--DiscountPercentageForPurchasePricePerShares_pid_dp_uPure_c20160201__20160202__us-gaap--DebtInstrumentAxis__custom--ElevenPercentageSecuredConvertiblePromissoryNotesMember__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementMember_zNm2uBI4FiGg" title="Discount percentage for purchase price per shares">25% discount to purchase price per share in Biotricity’s next offering.</td></tr> </table> Issuance of common stock, exchangeable shares and cancellation of shares in connection with the reverse takeover transaction as explained above represents recapitalization of capital retroactively adjusting the accounting acquirer’s legal capital to reflect the legal capital of the accounting acquiree. (c) Series (A) Preferred Stock The number of Series A Preferred Stock issued and outstanding as of March 31, 2023 and 2022 was <span id="xdx_90B_eus-gaap--PreferredStockSharesOutstanding_iI_pid_c20230331__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zxGsogiOQPIe" title="Preferred stock, shares outstanding">6,304 and <span id="xdx_90D_eus-gaap--PreferredStockSharesOutstanding_iI_pid_c20220331__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_z2PudemPutck" title="Preferred stock, shares outstanding">7,200, respectively. The Series A Preferred Stock is junior to the Company’s existing undesignated preferred stock, and unless otherwise set forth in the applicable certificate of designations, shall be junior to any future issuance of preferred stock. The purchase price (the “Purchase Price”) for the Series A Preferred Stock to date has been $<span id="xdx_90D_eus-gaap--PreferredStockLiquidationPreference_iI_pid_c20230331__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zbUAB25MMzM" title="Preferred stock, liquidation preference">1,000 per share. Except as otherwise expressly required by law, the Series A Preferred Stock does not have voting rights and does not have any liquidation rights. Preferred Stock Dividends Dividends shall be paid at the rate of <span id="xdx_90C_eus-gaap--PreferredStockDividendRatePercentage_pid_dp_uPure_c20220401__20230331__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_z2YgWPFdi0pa" title="Preferred stock dividend rate percentage">12% per annum of the amount of the Series A Preferred Stockholder’s (the “Holder”) Purchase Price. Dividends shall be paid quarterly unless the Holder and the Company mutually agree to accrue and defer any such dividend. BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars) Conversion The Series A Preferred Stock is convertible into shares of common stock commencing 24 months after the issuance date of the Series A Preferred Stock. Upon which, on a monthly basis, up to <span id="xdx_902_eus-gaap--DebtInstrumentRedemptionPricePercentage_pid_dp_uPure_c20220401__20230331__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zZdgMGvKQCL1" title="Debt instrument redemption price percentage">5% of the aggregate amount of the Purchase Price can be converted (subject to adjustment for changes in the Holder’s ownership of the underlying Series A Preferred Stock). The conversion price is equal to the greater of $<span id="xdx_909_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pid_c20230331__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zZnpyjXYbkWh" title="Preferred stock convertible conversion price">.001 or a <span id="xdx_905_ecustom--VolumeWeightedAveragePricePercentage_pid_dp_uPure_c20220401__20230331__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_z6yPoQ4GJ3A6" title="Volume weighted average price percentage">15% discount to the volume-weighted average price (“VWAP”) of the Company’s common stock five Trading Days immediately prior to the conversion date (the “Conversion Rate). Additionally, subject to certain provisions, the Holder may exchange its Series A Preferred Stock into any common stock financing being conducted by the Company at a 15% discount to the pricing of that financing. Other Adjustments and Rights <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; padding-left: 0pt; text-indent: 0pt; width: 0.25in"> </td> <td style="text-align: justify; padding-left: 0pt; text-indent: 0pt">● The Conversion Rate (and shares issuable upon conversion of the Series A Preferred Stock) will be appropriately adjusted to reflect stock splits, stock dividends business combinations and similar recapitalization.</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify; padding-left: 0pt; text-indent: 0pt"> </td> <td style="text-align: justify; padding-left: 0pt; text-indent: 0pt"> </td></tr> <tr style="vertical-align: top"> <td style="text-align: justify; padding-left: 0pt; text-indent: 0pt; width: 0.25in"> </td> <td style="text-align: justify; padding-left: 0pt; text-indent: 0pt">● The Holders shall be entitled to a proportionate share of certain qualifying distributions on the same basis as if they were holders of the Company’s common stock on an as converted basis.</td></tr> </table> Company Redemption The Company may redeem all or part of the outstanding Series A Preferred Stock after one year from the date of issuance by paying an amount equal to the aggregate Purchase Price paid, adjusted for any reduction in Series A Preferred Stock holdings, multiplied by 110% plus accrued dividends (d) Share issuances Share issuances during the year ended March 31, 2022 During the year ended March 31, 2022, the Company issued <span id="xdx_902_ecustom--StockIssuedDuringPeriodShareConversionOfConvertibleSecurities_c20210401__20220331__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_zxEqPXE0d5ud" title="Stock issued during period share conversion of convertible securities">4,696,083 common shares (not including <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_c20210401__20220331__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_zCdzH7CqtsL9" title="Stock issued during period shares conversion">19,263 shares that were part of to be issued shares from prior year conversions) in connection with conversion of convertible notes. The total amounts of debts settled is in amount of $14,522,812 that composed of face value of convertible promissory notes in amount of $10,309,000, carrying amount of conversion and redemption feature derived from notes in amount of $<span id="xdx_90E_eus-gaap--DebtInstrumentConvertibleBeneficialConversionFeature_c20210401__20220331__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_z7Ywv8sAYtI9" title="Carrying amount of conversion and redemption">3,398,557 and unpaid interest in amount of $815,255. The fair value of the shares issued was determined based on the market price upon conversion and was in the amount of $<span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20210401__20220331__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_zPHCeQFi3mLj" title="Stock issued during period value new issues">15,678,454. The difference between amounts of debts settled and fair value of common shares issued was in the amount of $<span id="xdx_90F_ecustom--StockIssuedDuringPeriodValueToBeIssued_c20210401__20220331__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_zEdPummgN6Gf" title="Stock issued during period value to be issued">1,155,642 and was recorded as loss on conversion of convertible promissory notes in the consolidated statement of operations and comprehensive loss. During the year ended March 31, 2022, the Company issued <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20210401__20220331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z2LcF8uPRhcc" title="Stock issued during period shares new issues">658,355 common shares in connection with warrant exercises for cash, and <span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20210401__20220331__us-gaap--StatementEquityComponentsAxis__custom--CashlessWarrantMember_z3WkOEuuVQH6" title="Stock issued during period value new issues">446,370 common shares in connection with cashless warrant exercises (Note 9f). In addition, the Company issued <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20210401__20220331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zlA9e7DY94B1" title="Issued common shares for services">451,688 common shares for services provided (not including <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_iN_pid_di_c20210401__20220331__us-gaap--StatementEquityComponentsAxis__custom--SharesToBeIssuedMember_zVOYNz04QaDf" title="Issued common shares for services">250,000 that were part of to be issued shares from prior year commitment). The fair value of common shares issued for services provided was $1,414,449. The fair value of common shares was determined based on the fair value on the date of approval of common share issuance. During the year ended March 31, 2022, the Company issued <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20210401__20220331__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zCnU8afMxwPi" title="Stock issued during period shares new issues">69,252 common shares for cash proceeds of $250,000, which were initially received as a promissory note, and paid through the issuance common shares within the same quarter. During the year ended March 31, 2022, the Company issued <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20210401__20220331__us-gaap--SubsidiarySaleOfStockAxis__custom--UplistingPublicStockOfferingMember_zhIm3TXliw9c" title="Stock issued during period shares new issues">5,382,331 common shares in connection with the equity financing that was concurrent with its listing on the Nasdaq Capital Market, for total net cash proceeds of $14,545,805. During the year ended March 31, 2022, an additional <span id="xdx_90E_ecustom--IssuanceOfPreferredSharesForPrivatePlacementInvestorsShares_c20210401__20220331__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zklZ3TOtySdh" title="Issuance of preferred shares for private placement investors shares">100 Series A preferred shares were issued for cash proceeds of $<span id="xdx_903_eus-gaap--ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_c20210401__20220331__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zH54apJMhkYk" title="Cash proceeds">100,000. The Company issued <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20210401__20220331__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zssApXAAvvek" title="Stock issued during period shares new issues">288,756 common shares as a result of preferred share conversions (Note 8). BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars) During the year ended March 31, 2022, the Company also issued an aggregate of 1,423,260 shares of its common stock to investors as part of the one-for-one exchange of previously issued exchangeable shares into the Company’s Common Stock, which is a non-cash transaction. Share issuances during the three months ended June 30, 2022 During the three months ended June 30, 2022, the Company issued <span id="xdx_90E_ecustom--StockIssuedDuringPeriodShareConversionOfConvertibleSecurities_c20220401__20220630__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zALESfvrohMj" title="Stock issued during period share conversion of convertible securities">404,545 common shares in connection with conversion of convertible notes (Note 5). The total amounts of debts settled is in amount of $406,118 that composed of face value of convertible promissory notes in amount of $302,000 (Note 5), carrying amount of conversion and redemption feature derived from notes in amount of $<span id="xdx_90A_eus-gaap--DebtInstrumentConvertibleBeneficialConversionFeature_c20220401__20220630__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_zHaSqRmIdcR" title="Carrying amount of conversion and redemption">104,118. The fair value of the shares issued and to be issued was determined based on the market price upon conversion and was in the amount of $457,025. The difference, that represented a loss on conversion between amounts of debt settled and fair value of common shares issued, was in the amount of $<span id="xdx_901_ecustom--LossOnConversionOfConvertiblePromissoryNotes_c20220401__20220630__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_zaegsiPXU8rk" title="Loss on conversion of convertible promissory notes">50,908 and was recorded as loss on conversion of convertible promissory notes in the consolidated statement of operations and comprehensive loss. During the three months ended June 30, 2022, the Company removed <span id="xdx_90E_ecustom--NumberSharesRemovedPreviouslyToBeIssued_pid_c20220401__20220630__srt--StatementScenarioAxis__custom--IssuanceOfCommonSharesMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_ztwrtrt6Cqi5" title="Number shares removed previously to be issued">40,094 of previously to be issued shares, in connection with cancellation of warrant exercises from certain warrant holders. In addition, the Company recognized additional <span id="xdx_907_ecustom--StockIssuedDuringPeriodSharesWarrantsExercised_pid_c20220401__20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_z2JCNPz9OrFa" title="Stock issued during period shares warrants exercised">11,792 shares to be issued for warrant exercise request received but not processed as of quarter end. As a result of the cancellation of to be issued shares, $<span id="xdx_900_eus-gaap--StockIssuedDuringPeriodValueShareBasedCompensationForfeited_c20220401__20220630__srt--StatementScenarioAxis__custom--IssuanceOfCommonSharesMember__srt--RangeAxis__srt--MinimumMember_zpszgyWudlcd" title="Cancellation of to be issued shares">42,500 was reduced from balance of shares to be issued, and the Company increased the balance of the shares to be issued by $<span id="xdx_904_ecustom--StockIssuedDuringPeriodValueWarrantsExercise_c20220401__20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_znDEeNL2jn7k" title="Stock issued during period value warrants exercise">12,500 upon the warrants exercise. During the three months ended June 30, 2022, the Company issued <span id="xdx_90C_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20220401__20220630__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zDEFjWA9VLkd" title="Common shares for services received">4,167 common shares for services received, with a fair value of $7,500. Share issuances during the three months ended September 30, 2022 During the three months ended September 30, 2022, the Company issued <span id="xdx_90C_ecustom--StockIssuedDuringPeriodShareConversionOfConvertibleSecurities_c20220701__20220930__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zoJE7yl898rj" title="Stock issued during period share conversion of convertible securities">117,647 common shares in connection with conversion of convertible notes (Note 5). The total amounts of debts settled is in amount of $135,274 that composed of face value of convertible promissory notes in amount of $100,000 (Note 5), carrying amount of conversion and redemption feature derived from notes in amount of $<span id="xdx_90E_eus-gaap--DebtInstrumentConvertibleBeneficialConversionFeature_c20220701__20220930__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_zYaBAkXizUZa" title="Carrying amount of conversion and redemption">35,274. The fair value of the shares issued and to be issued was determined based on the market price upon conversion and was in the amount of $175,294. The difference, that represented a loss on conversion, between amounts of debts settled and fair value of common shares issued was in the amount of $<span id="xdx_90F_ecustom--LossOnConversionOfConvertiblePromissoryNotes_c20220701__20220930__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_zPNyvOQCvzg6" title="Loss on conversion of convertible promissory notes">40,020 and was recorded as loss on conversion of convertible promissory notes in the consolidated statement of operations and comprehensive loss. During the three months ended September 30, 2022, the Company issued 22,772 common shares for services received, with a fair value of $30,287. Share issuances during the three months ended December 31, 2022 During the three months ended December 31, 2022, the Company issued <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20221001__20221231__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_zawJs5h6oEEe" title="Stock issued during period shares new issues">238,846 common shares in connection with the conversion of convertible notes (Note 5). The total amounts of debts settled is in amount of $207,002 that composed of face value of convertible promissory notes in amount of $153,600 (Note 5), carrying amount of conversion and redemption feature derived from notes in amount of $<span id="xdx_903_eus-gaap--DebtInstrumentConvertibleBeneficialConversionFeature_c20221001__20221231__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_za0TfhubekG5" title="Carrying amount of conversion and redemption">53,402. The fair value of the shares issued and to be issued was determined based on the market price upon conversion and was in the amount of $211,602. The difference, that represented a loss on conversion, between amounts of debts settled and fair value of common shares issued was in the amount of $<span id="xdx_906_ecustom--LossOnConversionOfConvertiblePromissoryNotes_c20221001__20221231__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_za70oGPgQZwe" title="Loss on conversion of convertible promissory notes">4,600 and was recorded as loss on conversion of convertible promissory notes in the consolidated statements of operations and comprehensive loss. In addition, the Company issued 105,263 common shares for services received with a fair value of $112,631 which was recognized as a selling, general and administrative expense with a corresponding credit to additional paid-in capital. Share issuances during the three months ended March 31, 2023 During the three months ended March 31, 2023, the Company issued <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20230101__20230331__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_zbl8EuLHq048" title="Stock issued during period shares new issues">2,240 common shares in connection with a cashless exercise of options. The Company recognized $<span id="xdx_902_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pid_c20230101__20230331__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_ztrOcax0Cr4h" title="Stock issued during period value new issues">2 of common shares and debited additional paid in capital for $<span id="xdx_90C_eus-gaap--AdditionalPaidInCapitalCommonStock_iI_pid_c20230331__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_zCaB7Yi6EgNi" title="Additional paid in capital common stock">2. BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars) In addition, the Company issued <span id="xdx_906_ecustom--StockIssuedDuringPeriodSharesIssuanceOfSharesInLieuOfConvertibleNoteInterest_pid_c20220401__20230331__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z7d5Fl0WP7sc" title="Common shares in lieu of interest payment">270,270 common shares in lieu of interest payment for a new convertible note (Note 5). The fair value of the shares issued was $221,621, which was determined based on closing stock price on the date of share issuance approval. The fair value of shares issued was recognized as a deferred cost, a contra liability to convertible notes, with a corresponding credit to additional paid in capital. (e) Shares to be issued During the year ended March 31, 2023, the Company issued <span id="xdx_90F_ecustom--StockIssuedDuringPeriodSharesWarrantsExercised_iN_di_c20220401__20230331__us-gaap--StatementEquityComponentsAxis__custom--SharesToBeIssuedMember_zg4HP7qc4YWa" title="Stock issued during period shares warrants exercised">100,094 shares in satisfaction of its obligation of shares to be issued, and moved $<span id="xdx_907_ecustom--StockIssuedDuringPeriodValueWarrantsExercised_iN_di_c20220401__20230331__us-gaap--StatementEquityComponentsAxis__custom--SharesToBeIssuedMember_zklujKGdWa8f" title="Stock issued during period value warrants exercised">77,300 out of the shares to be issued account into the additional paid in capital account. As at March 31, 2023, the Company has <span id="xdx_90B_eus-gaap--SharesOutstanding_iI_c20230331__us-gaap--StatementEquityComponentsAxis__custom--SharesToBeIssuedMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zXkwg5Rc1iXf" title="Share outstanding">23,723 outstanding shares remaining to be issued in connection with warrant exercises in prior fiscal year. (f) Warrant issuances, exercises and other activity Warrant exercises and issuances during the year ended March 31, 2022 During the year ended March 31, 2022, 658,355 warrants were exercised pursuant to receipt of exercise proceeds of $872,292. <span id="xdx_905_ecustom--ClassOfWarrantOrRightCashlessWarrantExercise_iI_pid_c20220331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zu37VRHjLlQ" title="Class of warrant or right cashless warrant exercise">446,370 warrants were exercised pursuant to cashless warrant exercise. In addition, $103,950 warrant exercise proceeds receivable was recorded as part of deposit and other receivables as of March 31, 2022. During the year ended March 31, 2022, the Company issued <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesShareBasedCompensationGross_c20210401__20220331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__srt--TitleOfIndividualAxis__custom--AdvisorAndConsultantMember_zY6viwElkrea" title="Stock issued during period shares based compensation gross">212,594 warrants, including <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesShareBasedCompensationGross_c20210401__20220331__srt--TitleOfIndividualAxis__custom--AdvisorAndConsultantMember_zyKD6irBaOO1" title="Stock issued during period shares based compensation gross">25,000 as compensation for advisor and consultant services, and <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesShareBasedCompensationGross_c20210401__20220331__srt--TitleOfIndividualAxis__srt--ExecutiveOfficerMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z4G773rb75Fb" title="Stock issued during period shares based compensation gross">187,594 as compensation to an executive of the Company who was not part of the Company stock options plan. The warrant expenses were fair valued at $<span id="xdx_906_eus-gaap--FairValueAdjustmentOfWarrants_c20210401__20220331__us-gaap--IncomeStatementLocationAxis__us-gaap--SellingGeneralAndAdministrativeExpensesMember_zd7SonguMRt2" title="Fair value adjustment of warrants">541,443, and recognized as selling, general and administrative expenses, with a corresponding credit to additional paid-in capital. During the year ended March 31, 2022, the Company issued <span id="xdx_900_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20220331__srt--TitleOfIndividualAxis__custom--LendersMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z2nicoXm4Rl" title="Share purchase warrants">57,536 share purchase warrants to lenders in connection with the term loan (Note 6). The fair value of these warrants, in the amount of $<span id="xdx_902_eus-gaap--WarrantsAndRightsOutstanding_iI_pp0p0_c20220331__srt--TitleOfIndividualAxis__custom--LendersMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zsjqHjvAiw7c" title="Warrants and rights outstanding">198,713, was recorded as part of the discount of the loan, with a corresponding credit to additional paid-in capital. The warrants were not considered as derivative instruments. The fair value of these warrants was determined by using the Black Scholes model, based on the following key inputs and assumptions: expiry date <span id="xdx_909_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpirationDate_dd_c20210401__20220331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__srt--TitleOfIndividualAxis__custom--LendersMember_z97ToJnPa5ed" title="Share based compensation expiration date">December 21, 2028, exercise price $<span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20220331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__srt--TitleOfIndividualAxis__custom--LendersMember_zLM1s1LMTyWb" title="Fair value assumptions exercise price">6.26, rate of return <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20210401__20220331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__srt--TitleOfIndividualAxis__custom--LendersMember_zYSj81bUNfqe" title="Fair value assumptions risk free interest rate">1.40%, and volatility <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20210401__20220331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__srt--TitleOfIndividualAxis__custom--LendersMember_znRHGCLkJjdi" title="Fair value assumptions expected volatility rate">121.71%. During the year ended March 31, 2022, the Company issued <span id="xdx_904_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20220331__srt--TitleOfIndividualAxis__custom--UnderwriterMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zA0y5hPLLFme" title="Share purchase warrants to underwriter">373,404 share purchase warrants to underwriter. The warrants were not considered as a derivative instrument and were accounted as additional paid-in capital along with the uplisting transaction. The warrants were fair valued at $<span id="xdx_907_eus-gaap--WarrantsAndRightsOutstanding_iI_c20220331__srt--TitleOfIndividualAxis__custom--UnderwriterMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zqhDQVnbs1Jd" title="Warrants and rights outstanding">900,371. The fair value of these warrants was determined by using Black Scholes model, based on the following key inputs and assumptions: expiry date <span id="xdx_90D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpirationDate_dd_c20210401__20220331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__srt--TitleOfIndividualAxis__custom--UnderwriterMember_zOjZGXCdU1Pg" title="Share based compensation expiration date">August 26, 2026, exercise price $<span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20220331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__srt--TitleOfIndividualAxis__custom--UnderwriterMember_zgatE6O6ATr4" title="Fair value assumptions exercise price">3.75, rate of returns <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20210401__20220331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__srt--TitleOfIndividualAxis__custom--UnderwriterMember_zCrah8LwVc13" title="Fair value assumptions risk free interest rate">0.77%, and volatility <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20210401__20220331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__srt--TitleOfIndividualAxis__custom--UnderwriterMember_zmPqlcOkARO7" title="Fair value assumptions expected volatility rate">111.9%. Warrant exercises and issuances during the three months ended June 30, 2022 During the three months ended June 30, 2022, the Company issued <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220401__20220630__srt--TitleOfIndividualAxis__custom--ExecutiveMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zYq1ejbI0T99" title="Stock issued during period shares new issues">53,827 warrants as compensation to an executive of the Company who was not part of the Company stock options plan. The warrant expenses were fair valued at $<span id="xdx_90A_eus-gaap--WarrantsAndRightsOutstanding_iI_c20220630__us-gaap--IncomeStatementLocationAxis__us-gaap--SellingGeneralAndAdministrativeExpensesMember_zIixXG5bqGl" title="Warrants and rights outstanding">77,414, and recognized as selling, general and administrative expenses, with a corresponding credit to additional paid-in capital. Warrant exercises and issuances during the three months ended September 30, 2022 During the three months ended September 30, 2022, the Company issued <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220701__20220930__srt--TitleOfIndividualAxis__custom--ExecutiveMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zfQCF0uXJtf7" title="Stock issued during period shares new issues">118,282 warrants as compensation to an executive of the Company who was not part of the Company stock options plan. The warrant expenses were fair valued at $<span id="xdx_90D_eus-gaap--WarrantsAndRightsOutstanding_iI_c20220930__us-gaap--IncomeStatementLocationAxis__us-gaap--SellingGeneralAndAdministrativeExpensesMember_zJSq0TZS1zz3" title="Warrants and rights outstanding">77,332, and recognized as selling, general and administrative expenses, with a corresponding credit to additional paid-in capital. BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars) Warrant issuances and exchanges into other securities during the three months ended December 31, 2022 During the three months ended December 31, 2022, the Company issued <span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20221001__20221231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__srt--TitleOfIndividualAxis__custom--ExecutiveMember_zVbYv0cAySk8" title="Stock issued during period shares new issues">218,785 warrants as compensation to an executive of the Company who was not part of the Company stock options plan. The fair value of the warrants at issuance was $<span id="xdx_905_eus-gaap--WarrantsAndRightsOutstanding_iI_c20221231__us-gaap--IncomeStatementLocationAxis__us-gaap--GeneralAndAdministrativeExpenseMember_zOqGx9m3PgKe" title="Warrants and rights outstanding">77,780 and was recognized as a selling, general and administrative expense, with a corresponding credit to additional paid-in capital. In addition, the Company added <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20220401__20221231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zotux1rR8y9j" title="Stock issued during period shares issued for services">312,500 warrants to its outstanding warrant schedule in connection with warrants issued to Series B convertible note holders. This has no impact on paid-in capital as the fair value of warrants were already accounted for as part of the original Series B convertible note issuance accounting entries. Lastly, the Company extinguished and exchanged <span id="xdx_905_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_c20221231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z7ads2z5WOXa" title="Warrants for promissory notes">306,604 warrants for promissory notes [Note 5] that resulted in an adjustment to additional paid-in capital in the amount of $71,768. Warrant issuances during the three months ended March 31, 2023 None. <p id="xdx_896_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zeZ79lN9OHz5" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Warrant issuances, exercises and expirations or cancellations during the fiscal years ended March 31, 2023 and 2022 as follows: Warrant activity during the years ended March 31, 2023 and 2022 is indicated below: SCHEDULE OF WARRANTS OUTSTANDING <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" id="xdx_4B2_us-gaap--StatementEquityComponentsAxis_custom--BrokerWarrantsMember_zvXZ5lMzEse2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Broker Warrants</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" id="xdx_4BC_us-gaap--StatementEquityComponentsAxis_custom--ConsultantWarrantsMember_zMb8DM38UfX3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Consultant and Noteholder Warrants</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" id="xdx_4B2_us-gaap--StatementEquityComponentsAxis_custom--WarrantsIssuedOnConversionOfConvertibleNotesMember_zwGTsJmQVuaa" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Warrants Issued on Convertible Notes</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" id="xdx_4B4_zJ6Tni4P8qN8" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_43C_c20210401__20220331_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_zkUgG7DeuBQg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 30%">As at March 31, 2021</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">1,258,495</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">2,130,555</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">7,766,652</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">11,155,702</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations_iN_di_z1KzgFpG7G6e" style="vertical-align: bottom; background-color: White"> <td>Expired/cancelled</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(150,841</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(298,333</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(449,174</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_di_ziDCIaXTZoAb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(662,389</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(242,500</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(555,029</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,459,918</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_z5SeWC8ytGJ5" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Issued</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">430,940</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">212,594</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">643,534</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_434_c20220401__20230331_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_zzzH0JdhW6Qc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As at March 31, 2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">876,205</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,802,316</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,211,623</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,890,144</td><td style="text-align: left"> </td></tr> <tr id="xdx_43F_c20220401__20230331_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_zTqZY2ao8YHg" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Warrant outstanding, beginning balance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">876,205</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,802,316</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,211,623</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,890,144</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations_iN_di_zxCC5y4BqAAi" style="vertical-align: bottom; background-color: White"> <td>Expired/cancelled</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(37,134</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(517,583</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,563,980</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,118,697</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_di_zin2TynIy6D5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(318,396</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(318,396</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_zy1n7meqWeLh" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Issued</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"></td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">390,894</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">390,894</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_43A_c20220401__20230331__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_z0eIT5qdydzd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As at March 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">839,071</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,675,627</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,329,247</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,843,945</td><td style="text-align: left"> </td></tr> <tr id="xdx_43D_c20220401__20230331__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_zNXiDLQFHaq2" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Warrant outstanding, ending balance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">839,071</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,675,627</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,329,247</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,843,945</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Exercise Price</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"> <span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230331__us-gaap--StatementEquityComponentsAxis__custom--BrokerWarrantsMember__srt--RangeAxis__srt--MinimumMember_zAjUt2qs6Jke" title="Exercise Price">1.06 to $<span id="xdx_908_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230331__us-gaap--StatementEquityComponentsAxis__custom--BrokerWarrantsMember__srt--RangeAxis__srt--MaximumMember_z2YCB3btAkNk" title="Exercise Price">6.26</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_906_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230331__us-gaap--StatementEquityComponentsAxis__custom--ConsultantWarrantsMember__srt--RangeAxis__srt--MinimumMember_z3TPyljAWlh3" title="Exercise Price">0.45 to $<span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230331__us-gaap--StatementEquityComponentsAxis__custom--ConsultantWarrantsMember__srt--RangeAxis__srt--MaximumMember_zu1I4DhWH64" title="Exercise Price">3.15</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_902_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230331__us-gaap--StatementEquityComponentsAxis__custom--WarrantsIssuedOnConversionOfConvertibleNoteMember__srt--RangeAxis__srt--MinimumMember_zwp5VW09y64h" title="Exercise Price">1.06 to $<span id="xdx_909_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230331__us-gaap--StatementEquityComponentsAxis__custom--WarrantsIssuedOnConversionOfConvertibleNoteMember__srt--RangeAxis__srt--MaximumMember_zJzgPgjX9zB6" title="Exercise Price">1.50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expiration Date</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightReasonForIssuingToNonemployees_c20220401__20230331__us-gaap--StatementEquityComponentsAxis__custom--BrokerWarrantsMember_z2mFoPwgUrX1" title="Expiration Date">August 2026 to January 2031</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightReasonForIssuingToNonemployees_c20220401__20230331__us-gaap--StatementEquityComponentsAxis__custom--ConsultantWarrantsMember_zEByqADAz2ud" title="Expiration Date">April 2023 to Dec 2032</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--ClassOfWarrantOrRightReasonForIssuingToNonemployees_c20220401__20230331__us-gaap--StatementEquityComponentsAxis__custom--WarrantsIssuedOnConversionOfConvertibleNotesMember_ze8ebWwpJpWk" title="Expiration Date">January 2024 to February 2024</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> </table> (g) Stock-based compensation 2016 Equity Incentive Plan On February 2, 2016, the Board of Directors of the Company approved the Company’s 2016 Equity Incentive Plan (the “Plan”). The purpose of the Plan is to advance the interests of the Company and its stockholders by providing an incentive to attract, retain and reward persons performing services for the Company and by motivating such persons to contribute to the growth and profitability of the Company. The Plan seeks to achieve this purpose by providing for awards in the form of options, stock appreciation rights, restricted stock purchase rights, restricted stock bonuses, restricted stock units, performance shares, performance units and other stock-based awards. BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars) The Plan shall continue in effect until its termination by the board of directors or committee formed by the board; provided, however, that all awards shall be granted, if at all, on or before the day immediately preceding the tenth (10th) anniversary of the effective date. The maximum number of shares of stock that may be issued under the Plan shall be equal to <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_c20160202__us-gaap--PlanNameAxis__custom--TwoThousandAndSixteenEquityIncentivePlanMember_zJXc2nsYqu4g" title="Share based payment award number of shares authorized">3,750,000 shares; provided that the maximum number of shares of stock that may be issued under the Plan pursuant to awards shall automatically and without any further Company or shareholder approval, increase on January 1 of each year for not more than 10 years from the effective date, so the number of shares that may be issued is an amount no greater than 20% of the Company’s outstanding shares of stock and shares of stock underlying any outstanding exchangeable shares as of such January 1; provided further that no such increase shall be effective if it would violate any applicable law or stock exchange rule or regulation, or result in adverse tax consequences to the Company or any participant that would not otherwise result but for the increase. During the year ended March 31, 2023, the Company granted <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_uShares_c20220401__20230331__us-gaap--PlanNameAxis__custom--TwoThousandAndSixteenEquityIncentivePlanMember_z80SE9hgP0q2" title="Stock options granted">1,713,937 stock options (2022: <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_uShares_c20210401__20220331__us-gaap--PlanNameAxis__custom--TwoThousandAndSixteenEquityIncentivePlanMember_zU4CDID3bIN9" title="Stock options granted">596,458 options) with a weighted average grant date exercise price of $<span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20230331__us-gaap--PlanNameAxis__custom--TwoThousandAndSixteenEquityIncentivePlanMember_znn4xVfzn58i" title="Exercise price">1.1007 (2022: $<span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20220331__us-gaap--PlanNameAxis__custom--TwoThousandAndSixteenEquityIncentivePlanMember_zWgbxwXdmNXd" title="Exercise price">1.5272). The Company recorded stock-based compensation of $647,631 (2022: $913,613) in connection with ESOP 2016 Plan under selling, general and administrative expenses with corresponding credit to additional paid in capital. As of March 12, 2023, the Company cancelled <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations_c20230312__20230312__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_zhzId2GSxbE8" title="Stock option cancelled">1,300,000 of stock options that belongs to CEO (original grant date January 16, 2018, exercise price $5.44, expiry date January 17, 2028) and granted new stock options to the CEO in unit numbers of <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_c20230312__20230312__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__us-gaap--UnitDistributionMember_zn6eGBLLWvL8" title="New stock option granted">350,000, <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_c20230312__20230312__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--UnitDistributionOneMember_zJRuuoXKaPRb" title="New stock option granted">350,000 and <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_c20230312__20230312__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--UnitDistributionTwoMember_zDl1pDWgSpD1" title="New stock option granted">1,000,000 (exercise price $<span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20230312__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__us-gaap--UnitDistributionMember_z2ZC5AkUzqD5" title="Exercise price">1.25, $<span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20230312__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--UnitDistributionOneMember_zARldg9F5FDc" title="Exercise price">1.75 and $<span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20230312__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__custom--UnitDistributionTwoMember_zlGSvLgOzgal" title="Exercise price">0.81, respectively, expiry date <span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightReasonForIssuingToNonemployees_c20230312__20230312__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__us-gaap--UnitDistributionMember_zv3ESx6nNeNa" title="Expiry date">March 12, 2033). The company accounted for this transaction as a stock option modification in accordance to guidance in ASC 718, and recognized an expense of $246,647 immediately upon modification date as a result of such modification. This expense is included in total stock-based compensation expense for the year ended March 31, 2023. <p id="xdx_89E_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zBvTDbGpIDaf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The following table summarizes the stock option activities during the fiscal year ended March 31, 2023: SCHEDULE OF STOCK OPTION ACTIVITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Number of Options</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Weighted Average Remaining Contractual Term (years)</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid">Aggregate Intrinsic Value(1) </td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1.5pt"> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 42%; padding-bottom: 2.5pt">Outstanding at March 31, 2022</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zNGeMNwdyHna" style="border-bottom: Black 2.5pt double; width: 10%; text-align: right" title="Number of options, beginning outstanding">7,409,714</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zFFmMd9nAasf" style="padding-bottom: 2.5pt; width: 10%; text-align: right" title="Weighted average exercise price, beginning outstanding">2.3466</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 2.5pt; width: 12%; text-align: right"><span id="xdx_90B_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm_dtY_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zFjF3ZzZlSF7" title="Weighted average remaining contractual term beginning outstanding">5.75</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%">$</td> <td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pid_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_fKDEp_zg0kyVrXNjFg" style="border-bottom: Black 2.5pt double; text-align: right; width: 10%" title="Aggregate intrinsic value, beginning outstanding">567,584</td> <td style="padding-bottom: 2.5pt; width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_znKif9UOmGd2" style="text-align: right" title="Number of options, granted">1,713,937</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_z8LpbdrE5YDi" style="text-align: right" title="Weighted average exercise price, granted">1.1007</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTermGranted2_dtY_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zEmopsSjSEl8" title="Weighted average remaining contractual term Granted">9.95</td><td style="text-align: left"> </td><td> </td> <td> </td> <td style="text-align: right">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zGp1YckxOYSi" style="text-align: right" title="Number of options, exercised">(2,240</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zOlJjLMkcMuh" style="text-align: right" title="Weighted average exercise price, exercised">0.7400</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTermExercised2_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_z4eCj3gQOyL6" title="Weighted average remaining contractual term Exercised">-</td><td style="text-align: left"> </td><td> </td> <td> </td> <td style="text-align: right">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Expired</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_pid_di_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zjzf8XHoNC0l" style="text-align: right" title="Number of options, expired">(1,333,982</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_pid_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zYlwi4zj3tw1" style="text-align: right" title="Weighted average exercise price, expired">5.1150</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTermExpired2_dtY_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zedYWVME3wN1" title="Weighted average remaining contractual term Expired">4.83</td><td style="text-align: left"> </td><td> </td> <td> </td> <td style="text-align: right">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Forfeited</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zXHMUmTssIs8" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of options, forfeited">(199,520</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zCEhiDG1lHs1" style="padding-bottom: 1.5pt; text-align: right" title="Weighted average exercise price, forfeited">1.0830</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right"><span id="xdx_904_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTermForfeited2_dtY_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_z4jMJlQBFjTl" title="Weighted average remaining contractual term Forfeited">6.86</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right">-</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Outstanding at March 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zLKoLmhUcCa7" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options, ending outstanding">7,587,909</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_ze8SfSSZat53" style="padding-bottom: 2.5pt; text-align: right" title="Weighted average exercise price, ending outstanding">1.5487</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"><span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zVp547jfNWrc" title="Weighted average remaining contractual term ending outstanding">6.30</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double">$</td> <td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pid_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_fKDEp_zqCzHTEIuCf4" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value, ending outstanding">8,185,321</td> <td style="padding-bottom: 2.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Vested and expected to vest at March 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber_iE_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zX7kUuEN6Lvj" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options vested and expected to vest">7,587,909</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice_iE_pid_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zKfFI2CmZ5U" style="padding-bottom: 2.5pt; text-align: right" title="Weighted average exercise price vested and expected to vest">1.5487</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_dtY_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zaWpLSqjk9B5" title="Weighted average remaining contractual term vested and expected to vest">6.30</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double">$</td> <td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue_iE_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_fKDEp_zkJ9lJ2eRDxj" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value vested and expected to vest">8,185,321</td> <td style="padding-bottom: 2.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Vested and exercisable at March 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zj98Fkm6cxMc" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options vested and exercisable">5,763,126</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_pid_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_z1vzAiAwHCde" style="padding-bottom: 2.5pt; text-align: right" title="Weighted average exercise price vested and exercisable">1.6830</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"><span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zWEclgdQmX33" title="Weighted average remaining contractual term vested and exercisable">5.54</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double">$</td> <td id="xdx_980_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_fKDEp_za4M1RQvodhb" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value vested and exercisable">6,990,741</td> <td style="padding-bottom: 2.5pt"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 27pt">(1)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying options and the fair value of our common stock as of March 31, 2023 and 2022 of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNUT0NLIE9QVElPTiBBQ1RJVklUSUVTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_pid_c20230331_z0ah0Oxc9Rkj" title="Fair value exercise price">0.47 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNUT0NLIE9QVElPTiBBQ1RJVklUSUVTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_pid_c20220331_zvM9XBS3f4q6" title="Fair value exercise price">2.27 per share, respectively.</td></tr></table> <p id="xdx_899_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zqLn8OR1qvDl" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The fair value of each option granted is estimated at the time of grant using multi-nominal lattice model using the following assumptions, for each of the respective years ended March 31: SCHEDULE OF FAIR VALUE OF OPTION GRANTED USING VALUATION ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Exercise price ($)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">0.45 – 2.27</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20220331__srt--RangeAxis__srt--MinimumMember_zS9cjOhopmSh" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.40-3.98</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk free interest rate (%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_pid_dp_uPure_c20220401__20230331__srt--RangeAxis__srt--MinimumMember_z8onSWbmSrWe">2.20 – <span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_pid_dp_uPure_c20220401__20230331__srt--RangeAxis__srt--MaximumMember_zCErUKQmLxj3">4.40</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_pid_dp_uPure_c20210401__20220331__srt--RangeAxis__srt--MinimumMember_zqEAGzOFQ2sk" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.34 – <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_pid_dp_uPure_c20210401__20220331__srt--RangeAxis__srt--MaximumMember_zFM91XXRtwz1">2.32</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected term (Years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10.0</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20210401__20220331__srt--RangeAxis__srt--MinimumMember_zE4IGYLaWdGl" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.0 – 10.0</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected volatility (%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum_pid_dp_uPure_c20220401__20230331__srt--RangeAxis__srt--MinimumMember_zkmjBJCjudk1">71 – <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum_pid_dp_uPure_c20220401__20230331__srt--RangeAxis__srt--MaximumMember_zfVvgRZYf9M1">121.2</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum_pid_dp_uPure_c20210401__20220331__srt--RangeAxis__srt--MinimumMember_zMnpRLr6TGi3" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">106.6 – <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum_pid_dp_uPure_c20210401__20220331__srt--RangeAxis__srt--MaximumMember_zPLOliaHOy8l">129.9</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected dividend yield (%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><p id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20220401__20230331_zc0t2twf8rKa" style="font: 10pt Times New Roman, Times, Serif; margin: 0" title="Expected dividend yield">0.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20210401__20220331_z5D5KttK7UH" style="text-align: right" title="Expected dividend yield">0.00</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Fair value of option ($)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.36 – 1.995</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_pid_c20220331__srt--RangeAxis__srt--MinimumMember_zGKuguoy80b6" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.19 – 3.52</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected forfeiture (attrition) rate (%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><p id="xdx_986_ecustom--ExpectedForfeitureAttritionRates_pid_dp_uPure_c20220401__20230331_zOH5A1hNcyj" style="font: 10pt Times New Roman, Times, Serif; margin: 0" title="Expected forfeiture (attrition) rate">0.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--ExpectedForfeitureAttritionRates_pid_dp_uPure_c20210401__20220331_z8GBNCdNEeE2" style="text-align: right" title="Expected forfeiture (attrition) rate">0.00</td><td style="text-align: left"> </td></tr> </table> BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars) 2023 Equity Incentive Plan and the Employee Stock Purchase Plans On March 31, 2023, the Company adopted the 2023 Equity Incentive Plan (the “2023 Plan”). The 2023 Plan authorizes grants of equity-based and incentive cash awards to eligible participants designated by the 2023 Plan’s administrator. The 2023 Plan will be administered by the Compensation Committee of the Company’s Board of Directors (the “Board”). An aggregate of <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20230331__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyThreeEquityIncentivePlanMember_z7LS9oeVn1n9" title="Share based payment award number of shares available for issuance">5,000,000 shares of the Company’s common stock (the “Common Stock”), plus the number of shares available for issuance under the Company’s 2016 Equity Incentive Plan that had not been made subject to outstanding awards, were reserved for issuance under the 2023 Plan. Unless earlier terminated by the Board, the 2023 Plan will remain in effect until all Common Stock reserved for issuance has been issued, provided, however, that all awards shall be granted, if at all, on or before the day immediately preceding the tenth (10th) anniversary of the effective date of the 2023 Plan. The Company also adopted the Employee Stock Purchase Plan (the “ESPP”). The ESPP allows eligible employees of the Company and the Company’s designated subsidiaries the ability to purchase shares of the Company’s Common Stock at a discount, subject to various limitations. Under the ESPP, employees will be granted the right to purchase Common Stock at a discount during a series of successive offerings, the duration and timing of which will be determined by the ESPP administrator (the “Administrator”). In no event can any single offering period be longer than 27 months. The purchase price (the “Purchase Price”) for each offering will be established by the Administrator. With respect to an offering under Section 423 of the Internal Revenue Code of 1986 (“Section 423 Offering”), in no case may such Purchase Price be less than the lesser of (i) an amount equal to 85 percent of the fair market value on the commencement date, or (ii) an amount not less than 85 percent of the fair market value the on the purchase date. In the event of financial hardship, an employee may withdraw from the ESPP by providing a request at least 20 Business Days before the end of the offering period (the “Offering Period”). Otherwise, the employee will be deemed to have exercised the purchase right in full as of such exercise date. Upon exercise, the employee will purchase the number of whole shares that the participant’s accumulated payroll deductions will buy at the Purchase Price. If an employee wants to decrease the rate of contribution, the employee must make a request at least 20 Business Days before the end of an Offering Period (or such earlier date as determined by the Administrator). An employee may not transfer any rights under the ESPP other than by will or the laws of descent and distribution. During a participant’s lifetime, purchase rights under the ESPP shall be exercisable only by the participant. There were no issuances under either the 2023 Plan or the ESPP as of March 31, 2023 and 2022.

125000000

0.001

10000000

0.001

20000

0.001

52514582

51277040

51047864

49810322

1466718

6304

7200

one share of the Special Voting Preferred Stock

The Company issued approximately 1.197 shares of its common stock in exchange for each common share of iMedical held by the iMedical shareholders who in general terms, are not residents of Canada (for the purposes of the Income Tax Act (Canada).

13376947

Shareholders of iMedical who in general terms, are Canadian residents (for the purposes of the Income Tax Act (Canada)) received approximately 1.197 Exchangeable Shares in the capital of Exchangeco in exchange for each common share of iMedical held. Accordingly, 9123031 Each outstanding option to purchase common shares in iMedical (whether vested or unvested) was exchanged, without any further action or consideration on the part of the holder of such option, for approximately 1.197 economically equivalent replacement options with an inverse adjustment to the exercise price of the replacement option to reflect the exchange ratio of approximately 1.197:1; Each outstanding warrant to purchase common shares in iMedical was adjusted, in accordance with the terms thereof, such that it entitles the holder to receive approximately 1.197 shares of the common stock of the Company for each warrant, with an inverse adjustment to the exercise price of the warrants to reflect the exchange ratio of approximately 1.197:1 Each outstanding advisor warrant to purchase common shares in iMedical was adjusted, in accordance with the terms thereof, such that it entitles the holder to receive approximately 1.197 shares of the common stock of the Company for each advisor warrant, with an inverse adjustment to the exercise price of the Advisor Warrants to reflect the exchange ratio of approximately 1.197:1; and

The outstanding 11% secured convertible promissory notes of iMedical were adjusted, in accordance with the adjustment provisions thereof, as and from closing, so as to permit the holders to convert (and in some circumstances permit the Company to force the conversion of) the convertible promissory notes into shares of the common stock of the Company at a 25% discount to purchase price per share in Biotricity’s next offering.

0.25

6304

7200

1000

0.12

0.05

0.001

0.15

1.10

4696083

19263

14522812

10309000

3398557

815255

15678454

1155642

658355

446370

451688

-250000

1414449

69252

250000

5382331

14545805

100

100000

288756

1423260

404545 406118

302000

104118

457025

50908 40094 11792

42500

12500

4167

7500

117647 135274

100000

35274

175294

40020

22772

30287

238846

207002

153600

53402

211602

4600

105263

112631

2240

270270 221621 -100094 -77300

23723

658355

872292 446370

103950

212594

25000

187594

541443

57536

198713

2028-12-21

6.26

0.0140

1.2171

373404

900371

2026-08-26

3.75

0.0077

1.119

53827

77414

118282

77332

218785

77780

312500

306604

71768

<p id="xdx_896_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zeZ79lN9OHz5" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Warrant issuances, exercises and expirations or cancellations during the fiscal years ended March 31, 2023 and 2022 as follows: Warrant activity during the years ended March 31, 2023 and 2022 is indicated below: SCHEDULE OF WARRANTS OUTSTANDING <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" id="xdx_4B2_us-gaap--StatementEquityComponentsAxis_custom--BrokerWarrantsMember_zvXZ5lMzEse2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Broker Warrants</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" id="xdx_4BC_us-gaap--StatementEquityComponentsAxis_custom--ConsultantWarrantsMember_zMb8DM38UfX3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Consultant and Noteholder Warrants</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" id="xdx_4B2_us-gaap--StatementEquityComponentsAxis_custom--WarrantsIssuedOnConversionOfConvertibleNotesMember_zwGTsJmQVuaa" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Warrants Issued on Convertible Notes</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" id="xdx_4B4_zJ6Tni4P8qN8" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_43C_c20210401__20220331_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_zkUgG7DeuBQg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 30%">As at March 31, 2021</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">1,258,495</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">2,130,555</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">7,766,652</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">11,155,702</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations_iN_di_z1KzgFpG7G6e" style="vertical-align: bottom; background-color: White"> <td>Expired/cancelled</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(150,841</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(298,333</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(449,174</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_di_ziDCIaXTZoAb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(662,389</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(242,500</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(555,029</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,459,918</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_z5SeWC8ytGJ5" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Issued</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">430,940</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">212,594</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">643,534</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_434_c20220401__20230331_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_zzzH0JdhW6Qc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As at March 31, 2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">876,205</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,802,316</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,211,623</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,890,144</td><td style="text-align: left"> </td></tr> <tr id="xdx_43F_c20220401__20230331_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_zTqZY2ao8YHg" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Warrant outstanding, beginning balance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">876,205</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,802,316</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,211,623</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,890,144</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations_iN_di_zxCC5y4BqAAi" style="vertical-align: bottom; background-color: White"> <td>Expired/cancelled</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(37,134</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(517,583</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,563,980</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,118,697</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_di_zin2TynIy6D5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(318,396</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(318,396</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_zy1n7meqWeLh" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Issued</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"></td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">390,894</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">390,894</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_43A_c20220401__20230331__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_z0eIT5qdydzd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As at March 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">839,071</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,675,627</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,329,247</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,843,945</td><td style="text-align: left"> </td></tr> <tr id="xdx_43D_c20220401__20230331__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_zNXiDLQFHaq2" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Warrant outstanding, ending balance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">839,071</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,675,627</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,329,247</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,843,945</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Exercise Price</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"> <span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230331__us-gaap--StatementEquityComponentsAxis__custom--BrokerWarrantsMember__srt--RangeAxis__srt--MinimumMember_zAjUt2qs6Jke" title="Exercise Price">1.06 to $<span id="xdx_908_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230331__us-gaap--StatementEquityComponentsAxis__custom--BrokerWarrantsMember__srt--RangeAxis__srt--MaximumMember_z2YCB3btAkNk" title="Exercise Price">6.26</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_906_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230331__us-gaap--StatementEquityComponentsAxis__custom--ConsultantWarrantsMember__srt--RangeAxis__srt--MinimumMember_z3TPyljAWlh3" title="Exercise Price">0.45 to $<span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230331__us-gaap--StatementEquityComponentsAxis__custom--ConsultantWarrantsMember__srt--RangeAxis__srt--MaximumMember_zu1I4DhWH64" title="Exercise Price">3.15</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_902_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230331__us-gaap--StatementEquityComponentsAxis__custom--WarrantsIssuedOnConversionOfConvertibleNoteMember__srt--RangeAxis__srt--MinimumMember_zwp5VW09y64h" title="Exercise Price">1.06 to $<span id="xdx_909_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230331__us-gaap--StatementEquityComponentsAxis__custom--WarrantsIssuedOnConversionOfConvertibleNoteMember__srt--RangeAxis__srt--MaximumMember_zJzgPgjX9zB6" title="Exercise Price">1.50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expiration Date</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightReasonForIssuingToNonemployees_c20220401__20230331__us-gaap--StatementEquityComponentsAxis__custom--BrokerWarrantsMember_z2mFoPwgUrX1" title="Expiration Date">August 2026 to January 2031</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightReasonForIssuingToNonemployees_c20220401__20230331__us-gaap--StatementEquityComponentsAxis__custom--ConsultantWarrantsMember_zEByqADAz2ud" title="Expiration Date">April 2023 to Dec 2032</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--ClassOfWarrantOrRightReasonForIssuingToNonemployees_c20220401__20230331__us-gaap--StatementEquityComponentsAxis__custom--WarrantsIssuedOnConversionOfConvertibleNotesMember_ze8ebWwpJpWk" title="Expiration Date">January 2024 to February 2024</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> </table>

1258495

2130555

7766652

11155702

150841

298333

449174

662389

242500

555029

1459918

430940

212594

643534

876205

1802316

7211623

9890144

876205

1802316

7211623

9890144

37134

517583

1563980

2118697

318396

390894

839071

1675627

5329247

7843945

839071

1675627

5329247

7843945

1.06

6.26

0.45

3.15

1.06

1.50

August 2026 to January 2031

April 2023 to Dec 2032

January 2024 to February 2024

3750000

1713937

596458

1.1007

1.5272

647631

913613

1300000

5.44

January 17, 2028

350000

1000000

1.25

1.75

0.81

March 12, 2033

246647

<p id="xdx_89E_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zBvTDbGpIDaf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The following table summarizes the stock option activities during the fiscal year ended March 31, 2023: SCHEDULE OF STOCK OPTION ACTIVITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Number of Options</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Weighted Average Remaining Contractual Term (years)</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid">Aggregate Intrinsic Value(1) </td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1.5pt"> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 42%; padding-bottom: 2.5pt">Outstanding at March 31, 2022</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zNGeMNwdyHna" style="border-bottom: Black 2.5pt double; width: 10%; text-align: right" title="Number of options, beginning outstanding">7,409,714</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zFFmMd9nAasf" style="padding-bottom: 2.5pt; width: 10%; text-align: right" title="Weighted average exercise price, beginning outstanding">2.3466</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 2.5pt; width: 12%; text-align: right"><span id="xdx_90B_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm_dtY_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zFjF3ZzZlSF7" title="Weighted average remaining contractual term beginning outstanding">5.75</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%">$</td> <td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pid_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_fKDEp_zg0kyVrXNjFg" style="border-bottom: Black 2.5pt double; text-align: right; width: 10%" title="Aggregate intrinsic value, beginning outstanding">567,584</td> <td style="padding-bottom: 2.5pt; width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_znKif9UOmGd2" style="text-align: right" title="Number of options, granted">1,713,937</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_z8LpbdrE5YDi" style="text-align: right" title="Weighted average exercise price, granted">1.1007</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTermGranted2_dtY_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zEmopsSjSEl8" title="Weighted average remaining contractual term Granted">9.95</td><td style="text-align: left"> </td><td> </td> <td> </td> <td style="text-align: right">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zGp1YckxOYSi" style="text-align: right" title="Number of options, exercised">(2,240</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zOlJjLMkcMuh" style="text-align: right" title="Weighted average exercise price, exercised">0.7400</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTermExercised2_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_z4eCj3gQOyL6" title="Weighted average remaining contractual term Exercised">-</td><td style="text-align: left"> </td><td> </td> <td> </td> <td style="text-align: right">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Expired</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_pid_di_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zjzf8XHoNC0l" style="text-align: right" title="Number of options, expired">(1,333,982</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_pid_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zYlwi4zj3tw1" style="text-align: right" title="Weighted average exercise price, expired">5.1150</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTermExpired2_dtY_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zedYWVME3wN1" title="Weighted average remaining contractual term Expired">4.83</td><td style="text-align: left"> </td><td> </td> <td> </td> <td style="text-align: right">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Forfeited</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zXHMUmTssIs8" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of options, forfeited">(199,520</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zCEhiDG1lHs1" style="padding-bottom: 1.5pt; text-align: right" title="Weighted average exercise price, forfeited">1.0830</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right"><span id="xdx_904_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTermForfeited2_dtY_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_z4jMJlQBFjTl" title="Weighted average remaining contractual term Forfeited">6.86</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right">-</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Outstanding at March 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zLKoLmhUcCa7" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options, ending outstanding">7,587,909</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_ze8SfSSZat53" style="padding-bottom: 2.5pt; text-align: right" title="Weighted average exercise price, ending outstanding">1.5487</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"><span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zVp547jfNWrc" title="Weighted average remaining contractual term ending outstanding">6.30</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double">$</td> <td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pid_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_fKDEp_zqCzHTEIuCf4" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value, ending outstanding">8,185,321</td> <td style="padding-bottom: 2.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Vested and expected to vest at March 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber_iE_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zX7kUuEN6Lvj" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options vested and expected to vest">7,587,909</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice_iE_pid_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zKfFI2CmZ5U" style="padding-bottom: 2.5pt; text-align: right" title="Weighted average exercise price vested and expected to vest">1.5487</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_dtY_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zaWpLSqjk9B5" title="Weighted average remaining contractual term vested and expected to vest">6.30</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double">$</td> <td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue_iE_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_fKDEp_zkJ9lJ2eRDxj" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value vested and expected to vest">8,185,321</td> <td style="padding-bottom: 2.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Vested and exercisable at March 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zj98Fkm6cxMc" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options vested and exercisable">5,763,126</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_pid_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_z1vzAiAwHCde" style="padding-bottom: 2.5pt; text-align: right" title="Weighted average exercise price vested and exercisable">1.6830</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"><span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zWEclgdQmX33" title="Weighted average remaining contractual term vested and exercisable">5.54</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double">$</td> <td id="xdx_980_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_c20220401__20230331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_fKDEp_za4M1RQvodhb" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value vested and exercisable">6,990,741</td> <td style="padding-bottom: 2.5pt"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 27pt">(1)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying options and the fair value of our common stock as of March 31, 2023 and 2022 of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNUT0NLIE9QVElPTiBBQ1RJVklUSUVTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_pid_c20230331_z0ah0Oxc9Rkj" title="Fair value exercise price">0.47 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNUT0NLIE9QVElPTiBBQ1RJVklUSUVTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_pid_c20220331_zvM9XBS3f4q6" title="Fair value exercise price">2.27 per share, respectively.</td></tr></table>

7409714

2.3466

P5Y9M

567584

1713937

1.1007

P9Y11M12D

2240

0.7400

1333982

5.1150

P4Y9M29D

199520

1.0830

P6Y10M9D

7587909

1.5487

P6Y3M18D

8185321

7587909

1.5487

P6Y3M18D

8185321

5763126

1.6830

P5Y6M14D

6990741

0.47

2.27

<p id="xdx_899_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zqLn8OR1qvDl" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The fair value of each option granted is estimated at the time of grant using multi-nominal lattice model using the following assumptions, for each of the respective years ended March 31: SCHEDULE OF FAIR VALUE OF OPTION GRANTED USING VALUATION ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Exercise price ($)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">0.45 – 2.27</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20220331__srt--RangeAxis__srt--MinimumMember_zS9cjOhopmSh" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.40-3.98</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk free interest rate (%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_pid_dp_uPure_c20220401__20230331__srt--RangeAxis__srt--MinimumMember_z8onSWbmSrWe">2.20 – <span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_pid_dp_uPure_c20220401__20230331__srt--RangeAxis__srt--MaximumMember_zCErUKQmLxj3">4.40</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_pid_dp_uPure_c20210401__20220331__srt--RangeAxis__srt--MinimumMember_zqEAGzOFQ2sk" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.34 – <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_pid_dp_uPure_c20210401__20220331__srt--RangeAxis__srt--MaximumMember_zFM91XXRtwz1">2.32</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected term (Years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10.0</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20210401__20220331__srt--RangeAxis__srt--MinimumMember_zE4IGYLaWdGl" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.0 – 10.0</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected volatility (%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum_pid_dp_uPure_c20220401__20230331__srt--RangeAxis__srt--MinimumMember_zkmjBJCjudk1">71 – <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum_pid_dp_uPure_c20220401__20230331__srt--RangeAxis__srt--MaximumMember_zfVvgRZYf9M1">121.2</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum_pid_dp_uPure_c20210401__20220331__srt--RangeAxis__srt--MinimumMember_zMnpRLr6TGi3" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">106.6 – <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum_pid_dp_uPure_c20210401__20220331__srt--RangeAxis__srt--MaximumMember_zPLOliaHOy8l">129.9</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected dividend yield (%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><p id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20220401__20230331_zc0t2twf8rKa" style="font: 10pt Times New Roman, Times, Serif; margin: 0" title="Expected dividend yield">0.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20210401__20220331_z5D5KttK7UH" style="text-align: right" title="Expected dividend yield">0.00</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Fair value of option ($)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.36 – 1.995</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_pid_c20220331__srt--RangeAxis__srt--MinimumMember_zGKuguoy80b6" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.19 – 3.52</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected forfeiture (attrition) rate (%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><p id="xdx_986_ecustom--ExpectedForfeitureAttritionRates_pid_dp_uPure_c20220401__20230331_zOH5A1hNcyj" style="font: 10pt Times New Roman, Times, Serif; margin: 0" title="Expected forfeiture (attrition) rate">0.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--ExpectedForfeitureAttritionRates_pid_dp_uPure_c20210401__20220331_z8GBNCdNEeE2" style="text-align: right" title="Expected forfeiture (attrition) rate">0.00</td><td style="text-align: left"> </td></tr> </table>

0.45

2.27

2.40

3.98

0.0220

0.0440

0.0034

0.0232

P10Y

P2Y

P10Y

0.71

1.212

1.066

1.299

0.0000

0.36

1.995

1.19

3.52

0.0000 0.0000

5000000

10. INCOME TAXES Income taxes The provision for income taxes differs from that computed at combined corporate tax rate of approximately 26% as follows: Income tax recovery SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_499_20220401__20230331_zssD4vrgPr4i" style="border-bottom: Black 1.5pt solid; text-align: center">Year ended March 31, 2023</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_493_20210401__20220331_zJzDfzx9arQk" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Year ended March 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_400_eus-gaap--NetIncomeLoss_i_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; padding-bottom: 1.5pt">Net loss</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 16%; text-align: right">(18,658,143</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 16%; text-align: right">(29,130,477</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--IncomeTaxReconciliationTaxExemptIncome_iN_di_msITEBzZam_zQw247u1OG9l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected income tax recovery</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,851,117</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,573,924</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxReconciliationNondeductibleExpense_maITEBzZam_zhuBsjM0Bpp7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non-deductible expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">648,813</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,645,962</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--IncomeTaxReconciliationOtherAdjustments_maITEBzZam_zMVKldT8TNQf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other temporary differences</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,160</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(24,972</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_maITEBzZam_zlCk6wNAy4Pj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Change in valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,206,464</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,952,934</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzZam_zYtDSC8SoBzh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Income tax recovery</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> Deferred tax assets SCHEDULE OF DEFERRED TAX ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20230331_zADZSzKdJS5e" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As at March 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49D_20220331_zD8tp3VT8kk8" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As at March 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsOtherLossCarryforwards_iI_pp0p0_maDTANzytD_zLJM5q8dU6b6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Non-capital loss carry forwards</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">15,421,255</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">11,214,790</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsOther_iI_pp0p0_maDTANzytD_zJIwnZERCGs5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other temporary differences</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,123</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,283</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pp0p0_di_msDTANzytD_zUaWotSGxAu5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(15,433,378</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(11,231,073</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxAssetsNet_iTI_pp0p0_mtDTANzytD_zH4vljJY6rdk" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Deferred tax assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> As of March 31, 2023 and 2022, the Company decided that a valuation allowance relating to the above deferred tax assets of the Company was necessary, largely based on the negative evidence represented by losses incurred and a determination that it is not more likely than not to realize these assets, such that, a corresponding valuation allowance, for each respective period, was recorded to offset deferred tax assets. As of March 31, 2023 and 2022, the Company has approximately $59,312,517 and $43,133,807, respectively, of non-capital losses available to offset future taxable income. These losses will expire between 2035 to 2039. As of March 31, 2023, and 2022 the Company was not subject to any uncertain tax positions.

0.26

SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_499_20220401__20230331_zssD4vrgPr4i" style="border-bottom: Black 1.5pt solid; text-align: center">Year ended March 31, 2023</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_493_20210401__20220331_zJzDfzx9arQk" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Year ended March 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_400_eus-gaap--NetIncomeLoss_i_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; padding-bottom: 1.5pt">Net loss</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 16%; text-align: right">(18,658,143</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 16%; text-align: right">(29,130,477</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--IncomeTaxReconciliationTaxExemptIncome_iN_di_msITEBzZam_zQw247u1OG9l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected income tax recovery</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,851,117</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,573,924</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxReconciliationNondeductibleExpense_maITEBzZam_zhuBsjM0Bpp7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non-deductible expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">648,813</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,645,962</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--IncomeTaxReconciliationOtherAdjustments_maITEBzZam_zMVKldT8TNQf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other temporary differences</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,160</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(24,972</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_maITEBzZam_zlCk6wNAy4Pj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Change in valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,206,464</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,952,934</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzZam_zYtDSC8SoBzh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Income tax recovery</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table>

-18658143

-29130477

4851117

7573924

648813

3645962

-4160

-24972

4206464

3952934

SCHEDULE OF DEFERRED TAX ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20230331_zADZSzKdJS5e" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As at March 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49D_20220331_zD8tp3VT8kk8" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As at March 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsOtherLossCarryforwards_iI_pp0p0_maDTANzytD_zLJM5q8dU6b6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Non-capital loss carry forwards</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">15,421,255</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">11,214,790</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsOther_iI_pp0p0_maDTANzytD_zJIwnZERCGs5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other temporary differences</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,123</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,283</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pp0p0_di_msDTANzytD_zUaWotSGxAu5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(15,433,378</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(11,231,073</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxAssetsNet_iTI_pp0p0_mtDTANzytD_zH4vljJY6rdk" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Deferred tax assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table>

15421255

11214790

12123

16283

15433378

11231073

59312517

43133807

These losses will expire between 2035 to 2039.

<p id="xdx_804_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zZkfLbwDnV7f" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">11. COMMITMENTS AND CONTINGENCIES There are no claims against the Company that were assessed as significant, which were outstanding as at March 31, 2023 and, consequently, no provision for such has been recognized in the consolidated financial statements. BIOTRICITY INC. Notes to Consolidated Financial Statements Years ended March 31, 2023 and 2022 (Expressed in US Dollars)

12. OPERATING LEASE RIGHT-OF-USE ASSETS AND LEASE OBLIGATIONS The Company has one operating lease primarily for office and administration. During December 2021, the Company entered into a new lease agreement. The Company paid $85,000 deposit that would be returned at the end of the lease. In December 2022, the Company started a new lease with an additional suite in the same premise as the existing lease. When measuring the lease obligations, the Company discounted lease payments using its incremental borrowing rate. The weighted-average-rate applied is 11.4%. SCHEDULE OF OPERATING LEASES OBLIGATIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 60%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="padding-bottom: 1.5pt; text-align: center">2023</td> <td> </td> <td> </td> <td colspan="2" style="text-align: center">2022</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Right of Use Asset</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">$</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">$</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Beginning balance at March 31</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--OperatingLeaseRightOfUseAsset_iS_c20220401__20230331_zjKk0nmAs3ke" style="width: 16%; text-align: right" title="Operating lease right-of-use asset, beginning balance">1,242,700</td> <td style="width: 1%"> </td> <td style="width: 2%"> </td> <td style="width: 1%"> </td> <td id="xdx_98A_eus-gaap--OperatingLeaseRightOfUseAsset_iS_c20210401__20220331_zX9MFl87WTJ9" style="text-align: right; width: 16%" title="Operating lease right-of-use asset, beginning balance">66,120</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">New leases</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--OperatingLeaseRightOfUseAssetNewLeases_c20220401__20230331_z3LHrQU64Mb6" style="text-align: right" title="Operating lease right-of-use asset, beginning balance">685,099</td> <td> </td> <td> </td> <td> </td> <td id="xdx_98B_ecustom--OperatingLeaseRightOfUseAssetNewLeases_c20210401__20220331_zOAdUPD2DIda" style="text-align: right" title="Operating lease right-of-use asset, beginning balance">1,308,731</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Amortization</td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td id="xdx_98F_eus-gaap--OperatingLeaseRightOfUseAssetAmortizationExpense_iN_di_c20220401__20230331_zcsReMW27Noe" style="border-bottom: Black 1.5pt solid; text-align: right" title="Operating lease right-of-use asset, beginning balance">(340,307</td> <td style="padding-bottom: 1.5pt">)</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid"> </td> <td id="xdx_98F_eus-gaap--OperatingLeaseRightOfUseAssetAmortizationExpense_iN_di_c20210401__20220331_zeEDKmK7C0wi" style="border-bottom: Black 1.5pt solid; text-align: right" title="Operating lease right-of-use asset, beginning balance">(132,151</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Ending balance at March 31</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_98E_eus-gaap--OperatingLeaseRightOfUseAsset_iE_c20220401__20230331_zVlFA6Ezelz8" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease right-of-use asset, beginning balance">1,587,492</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double"> </td> <td id="xdx_983_eus-gaap--OperatingLeaseRightOfUseAsset_iE_c20210401__20220331_zEDuYloohCP2" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease right-of-use asset, beginning balance">1,242,700</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 60%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="padding-bottom: 1.5pt; text-align: center">2023</td> <td> </td> <td> </td> <td colspan="2" style="text-align: center">2022</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Lease Liability</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">$</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">$</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Beginning balance at March 31</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--OperatingLeaseLiability_iS_c20220401__20230331_zoLsH6tqYFVb" style="width: 16%; text-align: right" title="Operating lease liability, beginning balance">1,330,338</td> <td style="width: 1%"> </td> <td style="width: 2%"> </td> <td style="width: 1%"> </td> <td id="xdx_988_eus-gaap--OperatingLeaseLiability_iS_c20210401__20220331_zLA9ZXWzLmvk" style="text-align: right; width: 16%" title="Operating lease liability, beginning balance">58,257</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">New leases</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--OperatingLeaseNewLeases_c20220401__20230331_z1wUKjPrxE5c" style="text-align: right" title="Operating lease liability, beginning balance">685,099</td> <td> </td> <td> </td> <td> </td> <td id="xdx_981_ecustom--OperatingLeaseNewLeases_c20210401__20220331_z7OnGLHQg2Xg" style="text-align: right" title="Operating lease liability, beginning balance">1,308,731</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Repayment and interest accretion</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_985_ecustom--OperatingLeaseRepaymentAndInterestAccretion_iN_di_c20220401__20230331_zOiZ2Vv7paGf" style="border-bottom: Black 1.5pt solid; text-align: right" title="Operating lease liability, beginning balance">(293,342</td> <td>)</td> <td> </td> <td> </td> <td id="xdx_980_ecustom--OperatingLeaseRepaymentAndInterestAccretion_iN_di_c20210401__20220331_z2e40wJv7OZ9" style="text-align: right" title="Operating lease liability, beginning balance">(36,650</td><td style="padding-bottom: 1.5pt; text-align: right">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Ending balance at March 31</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--OperatingLeaseLiability_iE_c20220401__20230331_zRHcTjWXF11d" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease liability, beginning balance">1,722,095</td> <td> </td> <td> </td> <td> </td> <td id="xdx_983_eus-gaap--OperatingLeaseLiability_iE_c20210401__20220331_zPv12KGn1A7k" style="text-align: right" title="Operating lease liability, beginning balance">1,330,338</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Operating lease liability, beginning balance"> </td> <td> </td> <td> </td> <td> </td> <td> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current portion of operating lease liability</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--OperatingLeaseLiabilityCurrent_iI_c20230331_zJeiDNFFuaEb" style="text-align: right" title="Operating lease liability, beginning balance">335,608</td> <td> </td> <td> </td> <td> </td> <td id="xdx_985_eus-gaap--OperatingLeaseLiabilityCurrent_iI_c20220331_z3frg0EjhbJ6" style="text-align: right" title="Operating lease liability, beginning balance">210,320</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Noncurrent portion of operating lease liability</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_c20230331_znVZN6pX5BJk" style="text-align: right" title="Operating lease liability, beginning balance">1,386,487</td> <td> </td> <td> </td> <td> </td> <td id="xdx_98B_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_c20220331_zyA0CWQktLJe" style="text-align: right" title="Operating lease liability, beginning balance">1,120,018</td><td style="text-align: left"> </td></tr> </table> The operating lease expense was $<span id="xdx_90F_eus-gaap--OperatingLeaseExpense_c20220401__20230331__us-gaap--IncomeStatementLocationAxis__us-gaap--SellingGeneralAndAdministrativeExpensesMember_ztU8Etq9TNB8" title="Operating lease expense">405,496 for the year ended March 31, 2023 (2022: $<span id="xdx_901_eus-gaap--OperatingLeaseExpense_c20210401__20220331__us-gaap--IncomeStatementLocationAxis__us-gaap--SellingGeneralAndAdministrativeExpensesMember_zhuagrW0OCXk" title="Operating lease expense">293,888) and included in the selling, general and administrative expenses. <p id="xdx_89B_ecustom--ScheduleOfContractualUndiscountedCashFlowsForLeaseObligationTableTextBlock_zPvg7HUmt9i2" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The following table represents the contractual undiscounted cash flows for lease obligations as at March 31, 2023: SCHEDULE OF CONTRACTUAL UNDISCOUNTED CASH FLOWS FOR LEASE OBLIGATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 60%"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold">Calendar year</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20230331_z1P2B4BlQes7" style="border-bottom: Black 1.5pt solid; text-align: center">$</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold">Calendar year</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">$</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maLOLLPzTPy_zNv94GsQQujj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 20%; text-align: right">394,214</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_maLOLLPzTPy_zqRoQaNb2uTh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">552,293</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_maLOLLPzTPy_zumP3fXKI437" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">600,288</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_maLOLLPzTPy_zwVE9Dt7gFMa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">565,359</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueYearFiveAndBeyond_iI_maLOLLPzTPy_zgA60qWmRp7i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">2027 and beyond</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_mtLOLLPzTPy_zagU8MBZaWgf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total undiscounted lease liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,112,154</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_zdgHsrUtpNHg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Less imputed interest</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(390,059</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiability_iTI_zNgk2BkNXpaa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,722,095</td><td style="text-align: left"> </td></tr> </table>

85000

0.114

SCHEDULE OF OPERATING LEASES OBLIGATIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 60%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="padding-bottom: 1.5pt; text-align: center">2023</td> <td> </td> <td> </td> <td colspan="2" style="text-align: center">2022</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Right of Use Asset</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">$</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">$</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Beginning balance at March 31</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--OperatingLeaseRightOfUseAsset_iS_c20220401__20230331_zjKk0nmAs3ke" style="width: 16%; text-align: right" title="Operating lease right-of-use asset, beginning balance">1,242,700</td> <td style="width: 1%"> </td> <td style="width: 2%"> </td> <td style="width: 1%"> </td> <td id="xdx_98A_eus-gaap--OperatingLeaseRightOfUseAsset_iS_c20210401__20220331_zX9MFl87WTJ9" style="text-align: right; width: 16%" title="Operating lease right-of-use asset, beginning balance">66,120</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">New leases</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--OperatingLeaseRightOfUseAssetNewLeases_c20220401__20230331_z3LHrQU64Mb6" style="text-align: right" title="Operating lease right-of-use asset, beginning balance">685,099</td> <td> </td> <td> </td> <td> </td> <td id="xdx_98B_ecustom--OperatingLeaseRightOfUseAssetNewLeases_c20210401__20220331_zOAdUPD2DIda" style="text-align: right" title="Operating lease right-of-use asset, beginning balance">1,308,731</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Amortization</td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td id="xdx_98F_eus-gaap--OperatingLeaseRightOfUseAssetAmortizationExpense_iN_di_c20220401__20230331_zcsReMW27Noe" style="border-bottom: Black 1.5pt solid; text-align: right" title="Operating lease right-of-use asset, beginning balance">(340,307</td> <td style="padding-bottom: 1.5pt">)</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid"> </td> <td id="xdx_98F_eus-gaap--OperatingLeaseRightOfUseAssetAmortizationExpense_iN_di_c20210401__20220331_zeEDKmK7C0wi" style="border-bottom: Black 1.5pt solid; text-align: right" title="Operating lease right-of-use asset, beginning balance">(132,151</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Ending balance at March 31</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_98E_eus-gaap--OperatingLeaseRightOfUseAsset_iE_c20220401__20230331_zVlFA6Ezelz8" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease right-of-use asset, beginning balance">1,587,492</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double"> </td> <td id="xdx_983_eus-gaap--OperatingLeaseRightOfUseAsset_iE_c20210401__20220331_zEDuYloohCP2" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease right-of-use asset, beginning balance">1,242,700</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 60%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="padding-bottom: 1.5pt; text-align: center">2023</td> <td> </td> <td> </td> <td colspan="2" style="text-align: center">2022</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Lease Liability</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">$</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">$</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Beginning balance at March 31</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--OperatingLeaseLiability_iS_c20220401__20230331_zoLsH6tqYFVb" style="width: 16%; text-align: right" title="Operating lease liability, beginning balance">1,330,338</td> <td style="width: 1%"> </td> <td style="width: 2%"> </td> <td style="width: 1%"> </td> <td id="xdx_988_eus-gaap--OperatingLeaseLiability_iS_c20210401__20220331_zLA9ZXWzLmvk" style="text-align: right; width: 16%" title="Operating lease liability, beginning balance">58,257</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">New leases</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--OperatingLeaseNewLeases_c20220401__20230331_z1wUKjPrxE5c" style="text-align: right" title="Operating lease liability, beginning balance">685,099</td> <td> </td> <td> </td> <td> </td> <td id="xdx_981_ecustom--OperatingLeaseNewLeases_c20210401__20220331_z7OnGLHQg2Xg" style="text-align: right" title="Operating lease liability, beginning balance">1,308,731</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Repayment and interest accretion</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_985_ecustom--OperatingLeaseRepaymentAndInterestAccretion_iN_di_c20220401__20230331_zOiZ2Vv7paGf" style="border-bottom: Black 1.5pt solid; text-align: right" title="Operating lease liability, beginning balance">(293,342</td> <td>)</td> <td> </td> <td> </td> <td id="xdx_980_ecustom--OperatingLeaseRepaymentAndInterestAccretion_iN_di_c20210401__20220331_z2e40wJv7OZ9" style="text-align: right" title="Operating lease liability, beginning balance">(36,650</td><td style="padding-bottom: 1.5pt; text-align: right">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Ending balance at March 31</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--OperatingLeaseLiability_iE_c20220401__20230331_zRHcTjWXF11d" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease liability, beginning balance">1,722,095</td> <td> </td> <td> </td> <td> </td> <td id="xdx_983_eus-gaap--OperatingLeaseLiability_iE_c20210401__20220331_zPv12KGn1A7k" style="text-align: right" title="Operating lease liability, beginning balance">1,330,338</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Operating lease liability, beginning balance"> </td> <td> </td> <td> </td> <td> </td> <td> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current portion of operating lease liability</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--OperatingLeaseLiabilityCurrent_iI_c20230331_zJeiDNFFuaEb" style="text-align: right" title="Operating lease liability, beginning balance">335,608</td> <td> </td> <td> </td> <td> </td> <td id="xdx_985_eus-gaap--OperatingLeaseLiabilityCurrent_iI_c20220331_z3frg0EjhbJ6" style="text-align: right" title="Operating lease liability, beginning balance">210,320</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Noncurrent portion of operating lease liability</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_c20230331_znVZN6pX5BJk" style="text-align: right" title="Operating lease liability, beginning balance">1,386,487</td> <td> </td> <td> </td> <td> </td> <td id="xdx_98B_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_c20220331_zyA0CWQktLJe" style="text-align: right" title="Operating lease liability, beginning balance">1,120,018</td><td style="text-align: left"> </td></tr> </table>

1242700

66120

685099 1308731

340307

132151

1587492

1242700

1330338

58257

685099 1308731 293342 36650

1722095

1330338

335608

210320

1386487

1120018

405496

293888

<p id="xdx_89B_ecustom--ScheduleOfContractualUndiscountedCashFlowsForLeaseObligationTableTextBlock_zPvg7HUmt9i2" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The following table represents the contractual undiscounted cash flows for lease obligations as at March 31, 2023: SCHEDULE OF CONTRACTUAL UNDISCOUNTED CASH FLOWS FOR LEASE OBLIGATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 60%"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold">Calendar year</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20230331_z1P2B4BlQes7" style="border-bottom: Black 1.5pt solid; text-align: center">$</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold">Calendar year</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">$</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maLOLLPzTPy_zNv94GsQQujj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 20%; text-align: right">394,214</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_maLOLLPzTPy_zqRoQaNb2uTh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">552,293</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_maLOLLPzTPy_zumP3fXKI437" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">600,288</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_maLOLLPzTPy_zwVE9Dt7gFMa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">565,359</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueYearFiveAndBeyond_iI_maLOLLPzTPy_zgA60qWmRp7i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">2027 and beyond</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_mtLOLLPzTPy_zagU8MBZaWgf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total undiscounted lease liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,112,154</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_zdgHsrUtpNHg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Less imputed interest</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(390,059</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiability_iTI_zNgk2BkNXpaa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,722,095</td><td style="text-align: left"> </td></tr> </table>

394214

552293

600288

565359

2112154

390059

1722095

<p id="xdx_80E_eus-gaap--PropertyPlantAndEquipmentDisclosureTextBlock_zvLqah8vImCb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">13. PROPERTY AND EQUIPMENT During the year-ended March 31, 2022, the Company purchased leasehold improvements of $12,928 (useful life: <span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_c20220331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zogYyN8ZgAKj" title="Leasehold improvements useful life">5 years) as well as furniture & fixtures of $16,839 (useful life: <span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_c20220331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zXXEHSAZmwId" title="Furniture & fixtures useful life">5 years). There were no purchases of property and equipment during the fiscal year ended March 31, 2023. The Company recognized depreciation expense for these assets in the amount of $5,953 and $2,308 during the years ended March 31, 2023 and 2022, respectively. SCHEDULE OF PROPERTY AND EQUIPMENT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Cost</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Office equipment</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Leasehold improvement</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance at March 31, 2021</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--PropertyPlantAndEquipmentGross_iS_c20210401__20220331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zj956c1UlWM8" style="text-align: right" title="Cost, beginning balance">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentGross_iS_c20210401__20220331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_z3B3z4H5fo69" style="text-align: right" title="Cost, beginning balance">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentGross_iS_c20210401__20220331_zGsM3vXwM5jd" style="text-align: right" title="Cost, beginning balance">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--PropertyPlantAndEquipmentAdditions_c20210401__20220331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zznk1uNEzybi" style="text-align: right" title="Additions">16,839</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--PropertyPlantAndEquipmentAdditions_c20210401__20220331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zknNLNHjTYah" style="text-align: right" title="Additions">12,928</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentAdditions_c20210401__20220331_zlOVllp9i2v8" style="text-align: right" title="Additions">29,767</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%">Balance at March 31, 2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentGross_iS_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_z7Z17jxQWlO2" style="width: 12%; text-align: right" title="Cost, beginning balance">16,839</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--PropertyPlantAndEquipmentGross_iS_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zxLLm39iKMY7" style="width: 12%; text-align: right" title="Cost, beginning balance">12,928</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--PropertyPlantAndEquipmentGross_iS_c20220401__20230331_zkDtgdjCt0Qf" style="width: 12%; text-align: right" title="Cost, beginning balance">29,767</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Additions</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--PropertyPlantAndEquipmentAdditions_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zBBxHS81NFg1" style="border-bottom: Black 1.5pt solid; text-align: right" title="Additions">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentAdditions_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zLd6xj6w3eHi" style="border-bottom: Black 1.5pt solid; text-align: right" title="Additions">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentAdditions_c20220401__20230331_zva8eItah1C" style="border-bottom: Black 1.5pt solid; text-align: right" title="Additions">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 1.5pt">Balance at March 31, 2023</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_98F_eus-gaap--PropertyPlantAndEquipmentGross_iE_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zl53KgRGyqy3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right" title="Cost, ending balance">16,839</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_987_eus-gaap--PropertyPlantAndEquipmentGross_iE_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zoujIcfHVUP7" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right" title="Cost, ending balance">12,928</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentGross_iE_c20220401__20230331_zj02LYUlq9Le" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right" title="Cost, ending balance">29,767</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Accumulated depreciation</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Office equipment</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Leasehold improvement</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance at March 31, 2021</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iS_c20210401__20220331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_z77su1WIsWf7" style="text-align: right" title="Accumulated depreciation, beginning balance">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iS_c20210401__20220331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zglRF4FI54M" style="text-align: right" title="Accumulated depreciation, beginning balance">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iS_c20210401__20220331_zRo1otRU8893" style="text-align: right" title="Accumulated depreciation, beginning balance">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Depreciation for the year</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--Depreciation_c20210401__20220331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zkmePs2YE8Rf" style="text-align: right" title="Depreciation">1,308</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--Depreciation_c20210401__20220331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zNBWFjs3LGDi" style="text-align: right" title="Depreciation">1,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--Depreciation_c20210401__20220331_zIbcRAvwzoq4" style="text-align: right" title="Depreciation">2,308</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%">Balance at March 31, 2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iS_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zVTKNrM6BIrh" style="width: 12%; text-align: right" title="Accumulated depreciation, beginning balance">1,308</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iS_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zyqV8dyMGAr5" style="width: 12%; text-align: right" title="Accumulated depreciation, beginning balance">1,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iS_c20220401__20230331_zjUpkrptLFZh" style="width: 12%; text-align: right" title="Accumulated depreciation, beginning balance">2,308</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Depreciation for the year</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--Depreciation_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zmxTxV6difJd" style="border-bottom: Black 1.5pt solid; text-align: right" title="Depreciation">3,367</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--Depreciation_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zzgVvuKupG2f" style="border-bottom: Black 1.5pt solid; text-align: right" title="Depreciation">2,586</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--Depreciation_c20220401__20230331_zkaMZ9HagOG6" style="border-bottom: Black 1.5pt solid; text-align: right" title="Depreciation">5,953</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 1.5pt">Balance at March 31, 2023</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iE_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zeGViAy2PWO2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right" title="Accumulated depreciation, ending balance">4,675</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_983_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iE_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zYdLT5i9Wkcj" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right" title="Accumulated depreciation, ending balance">3,586</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_986_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iE_c20220401__20230331_zNqfsrbJRF4a" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right" title="Accumulated depreciation, ending balance">8,261</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Net book value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Balance at March 31, 2022</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentNet_iS_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_ztjbZj9YIfyl" style="border-bottom: Black 1.5pt solid; text-align: right" title="Net book value, beginning balance">15,531</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentNet_iS_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zC95wLOLfsZk" style="border-bottom: Black 1.5pt solid; text-align: right" title="Net book value, beginning balance">11,928</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--PropertyPlantAndEquipmentNet_iS_c20220401__20230331_z6l8LhKEkU93" style="border-bottom: Black 1.5pt solid; text-align: right" title="Net book value, beginning balance">27,459</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 1.5pt">Balance at March 31, 2023</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_98F_eus-gaap--PropertyPlantAndEquipmentNet_iE_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zybX4ii9p7Wh" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right" title="Net book value, ending balance">12,164</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_98A_eus-gaap--PropertyPlantAndEquipmentNet_iE_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zHGOL7nI2dMk" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right" title="Net book value, ending balance">9,432</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentNet_iE_c20220401__20230331_zh9GpEY8N1tg" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right" title="Net book value, ending balance">21,506</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

12928

P5Y

16839

P5Y

5953

2308

SCHEDULE OF PROPERTY AND EQUIPMENT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Cost</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Office equipment</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Leasehold improvement</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance at March 31, 2021</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--PropertyPlantAndEquipmentGross_iS_c20210401__20220331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zj956c1UlWM8" style="text-align: right" title="Cost, beginning balance">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentGross_iS_c20210401__20220331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_z3B3z4H5fo69" style="text-align: right" title="Cost, beginning balance">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentGross_iS_c20210401__20220331_zGsM3vXwM5jd" style="text-align: right" title="Cost, beginning balance">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--PropertyPlantAndEquipmentAdditions_c20210401__20220331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zznk1uNEzybi" style="text-align: right" title="Additions">16,839</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--PropertyPlantAndEquipmentAdditions_c20210401__20220331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zknNLNHjTYah" style="text-align: right" title="Additions">12,928</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentAdditions_c20210401__20220331_zlOVllp9i2v8" style="text-align: right" title="Additions">29,767</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%">Balance at March 31, 2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentGross_iS_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_z7Z17jxQWlO2" style="width: 12%; text-align: right" title="Cost, beginning balance">16,839</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--PropertyPlantAndEquipmentGross_iS_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zxLLm39iKMY7" style="width: 12%; text-align: right" title="Cost, beginning balance">12,928</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--PropertyPlantAndEquipmentGross_iS_c20220401__20230331_zkDtgdjCt0Qf" style="width: 12%; text-align: right" title="Cost, beginning balance">29,767</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Additions</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--PropertyPlantAndEquipmentAdditions_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zBBxHS81NFg1" style="border-bottom: Black 1.5pt solid; text-align: right" title="Additions">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentAdditions_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zLd6xj6w3eHi" style="border-bottom: Black 1.5pt solid; text-align: right" title="Additions">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentAdditions_c20220401__20230331_zva8eItah1C" style="border-bottom: Black 1.5pt solid; text-align: right" title="Additions">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 1.5pt">Balance at March 31, 2023</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_98F_eus-gaap--PropertyPlantAndEquipmentGross_iE_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zl53KgRGyqy3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right" title="Cost, ending balance">16,839</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_987_eus-gaap--PropertyPlantAndEquipmentGross_iE_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zoujIcfHVUP7" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right" title="Cost, ending balance">12,928</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentGross_iE_c20220401__20230331_zj02LYUlq9Le" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right" title="Cost, ending balance">29,767</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Accumulated depreciation</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Office equipment</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Leasehold improvement</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance at March 31, 2021</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iS_c20210401__20220331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_z77su1WIsWf7" style="text-align: right" title="Accumulated depreciation, beginning balance">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iS_c20210401__20220331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zglRF4FI54M" style="text-align: right" title="Accumulated depreciation, beginning balance">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iS_c20210401__20220331_zRo1otRU8893" style="text-align: right" title="Accumulated depreciation, beginning balance">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Depreciation for the year</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--Depreciation_c20210401__20220331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zkmePs2YE8Rf" style="text-align: right" title="Depreciation">1,308</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--Depreciation_c20210401__20220331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zNBWFjs3LGDi" style="text-align: right" title="Depreciation">1,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--Depreciation_c20210401__20220331_zIbcRAvwzoq4" style="text-align: right" title="Depreciation">2,308</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%">Balance at March 31, 2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iS_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zVTKNrM6BIrh" style="width: 12%; text-align: right" title="Accumulated depreciation, beginning balance">1,308</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iS_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zyqV8dyMGAr5" style="width: 12%; text-align: right" title="Accumulated depreciation, beginning balance">1,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iS_c20220401__20230331_zjUpkrptLFZh" style="width: 12%; text-align: right" title="Accumulated depreciation, beginning balance">2,308</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Depreciation for the year</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--Depreciation_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zmxTxV6difJd" style="border-bottom: Black 1.5pt solid; text-align: right" title="Depreciation">3,367</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--Depreciation_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zzgVvuKupG2f" style="border-bottom: Black 1.5pt solid; text-align: right" title="Depreciation">2,586</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--Depreciation_c20220401__20230331_zkaMZ9HagOG6" style="border-bottom: Black 1.5pt solid; text-align: right" title="Depreciation">5,953</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 1.5pt">Balance at March 31, 2023</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iE_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zeGViAy2PWO2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right" title="Accumulated depreciation, ending balance">4,675</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_983_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iE_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zYdLT5i9Wkcj" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right" title="Accumulated depreciation, ending balance">3,586</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_986_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iE_c20220401__20230331_zNqfsrbJRF4a" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right" title="Accumulated depreciation, ending balance">8,261</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Net book value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Balance at March 31, 2022</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentNet_iS_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_ztjbZj9YIfyl" style="border-bottom: Black 1.5pt solid; text-align: right" title="Net book value, beginning balance">15,531</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentNet_iS_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zC95wLOLfsZk" style="border-bottom: Black 1.5pt solid; text-align: right" title="Net book value, beginning balance">11,928</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--PropertyPlantAndEquipmentNet_iS_c20220401__20230331_z6l8LhKEkU93" style="border-bottom: Black 1.5pt solid; text-align: right" title="Net book value, beginning balance">27,459</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 1.5pt">Balance at March 31, 2023</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_98F_eus-gaap--PropertyPlantAndEquipmentNet_iE_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zybX4ii9p7Wh" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right" title="Net book value, ending balance">12,164</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_98A_eus-gaap--PropertyPlantAndEquipmentNet_iE_c20220401__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zHGOL7nI2dMk" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right" title="Net book value, ending balance">9,432</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentNet_iE_c20220401__20230331_zh9GpEY8N1tg" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right" title="Net book value, ending balance">21,506</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

16839

12928

29767

16839

12928

29767

16839

12928

29767

1308

1000

2308

1308

1000

2308

3367

2586

5953

4675

3586

8261

15531

11928

27459

12164

9432

21506

14. SUBSEQUENT EVENTS The Company’s management has evaluated subsequent events up to June 29, 2023, the date the consolidated financial statements were issued, pursuant to the requirements of ASC 855 and has determined the following material subsequent events: During the period from April 1 to June 29, 2023, the following events occurred: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The Company issued a further $1 million (face value) Series C Notes, which are convertible promissory notes sold under subscription agreements to accredited investors. The Notes mature one year from the final closing date of the offering and accrue interest at <span id="xdx_90C_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20230629__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zCDv64zi5eqh" title="Debt interest rate, percentage">15% per annum. For additional information, please see Note 5 – Convertible Promissory Notes and Short Term Loans.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The Company entered into a secured revolving account purchase credit and inventory financing facility with a revolving loan lender, pursuant to which the lender may from time to time purchase certain discrete account receivables from the Company (with full recourse) or may make loans and provide other financial accommodations, the payment of which are guaranteed and secured by certain assets of the Company. <span id="xdx_90F_eus-gaap--LineOfCreditFacilityRevolvingCreditConversionToTermLoanDescription_c20230401__20230629__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_ztPA2fgCvWt6" title="Revolving credit conversion to term loan, description">In selling accounts receivables to the revolving loan lender, the Company is receiving 85% of their value as an advance of its regular collection of those receivables, limited to $<span id="xdx_906_eus-gaap--FinancingReceivableRevolvingConvertedToTermLoan_iI_pn6n6_c20230629__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z5yJJLCQ2rZh" title="Financing receivable, revolving, converted to term loan">1 million in financing, and expects to receive the remaining balance as part of normal collection activities. The inventory financing provided by this facility was limited to the lower of $<span id="xdx_90B_eus-gaap--LineOfCreditFacilityCapacityAvailableForTradePurchases_iI_pn5n6_c20230629__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zKn3pDD8PUu4" title="Inventory financing facilities">0.3 million, or a 40% maximum of inventory balances. On June 29, 2023, the Company had drawn $<span id="xdx_900_eus-gaap--IncreaseDecreaseInAccountsReceivable_pn5n6_c20230401__20230629__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zVP42gvzCSw9" title="Increase decrease in accounts receivable">0.8 million in accounts receivable financing and $<span id="xdx_90B_eus-gaap--LineOfCreditFacilityCapacityAvailableForTradePurchases_iI_pn5n6_c20230629__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zJmkbiqwblrl" title="Inventory financing facilities">0.3 million in inventory financing.</td></tr> </table>

1000000

0.15

In selling accounts receivables to the revolving loan lender, the Company is receiving 85% of their value as an advance of its regular collection of those receivables, limited to $1 million in financing, and expects to receive the remaining balance as part of normal collection activities. The inventory financing provided by this facility was limited to the lower of $0.3 million, or a 40% maximum of inventory balances. On June 29, 2023, the Company had drawn $0.8 million in accounts receivable financing and $0.3 million in inventory financing

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300000

800000

300000

85094

570460

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1224137

2048910

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135560

96344

17041

21506

1316135

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5486218

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1800000

928333

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1. NATURE OF OPERATIONS Biotricity Inc. (the “Company”) was incorporated under the laws of the State of Nevada on August 29, 2012. iMedical Innovations Inc. (“iMedical”) was incorporated on July 3, 2014, under the laws of the Province of Ontario, Canada and became a wholly-owned subsidiary of Biotricity through reverse take-over on February 2, 2016. Both the Company and iMedical are engaged in research and development activities within the remote monitoring segment of preventative care. They are focused on a realizable healthcare business model that has an existing market and commercialization pathway. As such, its efforts to date have been devoted to building and commercializing an ecosystem of technologies that enable access to this market.

2. BASIS OF PRESENTATION, MEASUREMENT AND CONSOLIDATION The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) for interim financial information and the Securities and Exchange Commission (“SEC”) instructions to Form 10-Q and Article 8 of SEC Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete consolidated financial statements and should be read in conjunction with Biotricity’s audited consolidated financial statements for the years ended March 31, 2023 and 2022 and their accompanying notes. The accompanying unaudited condensed consolidated financial statements are expressed in United States dollars (“USD”). In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of financial position and results of operations for the interim periods presented have been reflected herein. Operating results for the interim periods presented herein are not necessarily indicative of the results that may be expected for the year ending March 31, 2024. The Company’s fiscal year-end is March 31. The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. Significant intercompany accounts and transactions have been eliminated. Reclassifications Certain amounts presented in the prior year period have been reclassified to conform to current period condensed consolidated financial statement presentation. Interest expense related to debt principal, previously recorded as a selling, general and administrative expense in the condensed consolidated statements of operations and comprehensive loss in the prior year, was reclassified as a non-operating expense. Reverse Stock Split On June 29, 2023, the Company filed a Certificate of Amendment to its Amended and Restated Articles of Incorporation to effect a one-for-six (1-for-6) share consolidation (the “Reverse Split”). The Reverse Split became effective on July 3, 2023. As a result of the Reverse Split, every six shares of the Company’s issued and outstanding common stock were automatically converted into one share of common stock, without any change in the par value per share or to the number of shares authorized and began trading on a post-Reverse Split basis under the Company’s existing trading symbol, “BTCY,” when the market opened on July 3, 2023. No fractional shares were outstanding following the Reverse Split. Any holder who would have received a fractional share of common stock was automatically entitled to receive an additional fraction of a share of common stock to round up to the next whole share: 20,846 shares were issued for this purpose on July 19, 2023. The Reverse Split does not impact the amount of authorized common stock or par value per share. Lastly, the Reverse Split does not impact the amount of authorized, issued or outstanding shares of preferred stock. All issued and outstanding common stock, common stock per share amounts and corresponding balance sheet accounts contained in the financial statements have been retroactively adjusted to reflect this Reverse Split for all periods presented. In addition, a proportionate adjustment was made to the per share exercise and conversion price and the number of shares issuable upon the exercise or conversion of all outstanding stock options, warrants, convertible debt and equity instruments to purchase shares of common stock. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) Going Concern, Liquidity and Basis of Presentation The accompanying condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The Company is in the early stages of commercializing its first product and is concurrently in development mode, operating a research and development program in order to develop, obtain regulatory clearance for, and commercialize other proposed products. The Company has incurred recurring losses from operations, and as of December 31, 2023, had an accumulated deficit of $123.1 million and a working capital deficiency of $14.69 million. Those conditions raise substantial doubt about its ability to continue as a going concern for a period of one year from the issuance of these condensed consolidated financial statements. The condensed consolidated financial statements do not include adjustments that might result from the outcome of this uncertainty. Management anticipates the Company will continue on its revenue growth trajectory and improve its liquidity through continued business development and after additional equity or debt capitalization of the Company. During fiscal year ended March 31, 2022, the Company raised $499,900 through government EIDL loan. The Company also raised total net proceeds of $14,545,805 through the underwritten public offering that was concurrent with its listing onto the Nasdaq Capital Markets. The Company raised additional net proceeds of $11,756,563 through a term loan transaction (Note 6) and made repayment of the previously issued promissory notes and short-term loans. In connection with this loan, the Company and Lender entered into a Guarantee and Collateral Agreement, as well as an Intellectual Property Security Agreement, wherein the Company agreed to secure the Credit Agreement with all of the Company’s assets, as well as secured by the Company’s right title and interest in the Company’s Intellectual Property. During the fiscal year ended March 31, 2023, the Company raised short-term loans and promissory notes, net of repayments of $1,476,121 from various lenders, and also raised convertible notes, net of redemptions of $2,355,318 from various lenders. During the nine months ended December 31, 2023, the Company entered into a Series B preferred stock financing that generated $<span id="xdx_90D_eus-gaap--ProceedsFromConvertibleDebt_pn5n6_c20230401__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zvFUlPOX2Fme" title="Net proceeds from additional convertible notes">1.9 million in net proceeds and the Company raised additional convertible notes, net of redemptions of $<span id="xdx_904_eus-gaap--DebtConversionConvertedInstrumentAmount1_pn5n6_c20230401__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zoYmXicPtzDl" title="Debt conversion converted instrument amount">2.2 million from various lenders. The Company also raised additional short-term loans and promissory notes, net of repayments, of $<span id="xdx_909_eus-gaap--ProceedsFromRepaymentsOfNotesPayable_pn5n6_c20230401__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zNm3Ic8CyHlj" title="Repayment of short term loans and promissory notes, net">0.7 million from various lenders. As we proceed with the commercialization of the Bioflux, Biotres, and Biocare product development, we expect to continue to devote significant resources on capital expenditures, as well as research and development costs and operations, marketing and sales expenditures. Based on the above facts and assumptions, we believe our existing cash, along with anticipated near-term financings, will be sufficient to continue to meet our needs for the next twelve months from the filing date of this report. However, we will need to seek additional debt or equity capital to respond to business opportunities and challenges, including our ongoing operating expenses, protecting our intellectual property, developing or acquiring new lines of business and enhancing our operating infrastructure. The terms of our future financings may be dilutive to, or otherwise adversely affect, holders of our common stock. We may also seek additional funds through arrangements with collaborators or other third parties. There can be no assurance we will be able to raise this additional capital on acceptable terms, or at all. If we are unable to obtain additional funding on a timely basis, we may be required to modify our operating plan and otherwise curtail or slow the pace of development and commercialization of our proposed product lines. In December 2019, a novel strain of coronavirus (COVID-19) emerged in Wuhan, Hubei Province, China and spread globally, causing significant disruption to the global and US economy. On March 20, 2020, the Company announced the precautionary measures taken as well as announcing the business impact related to the coronavirus (COVID-19) pandemic. Though its operations have since returned to a normal state, the extent to which the COVID-19 pandemic may continue to affect the economy and the Company’s operations may depend on future developments. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars)

1-for-6

20846

-123100000

14690000

499900

14545805

11756563

1476121

2355318

1900000

2200000

700000

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Revenue Recognition The Company adopted Accounting Standards Codification Topic 606, “Revenue from Contracts with Customers” (“ASC 606”) on April 1, 2018. In accordance with ASC 606, revenue is recognized when promised goods or services are transferred to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services by applying the core principles – (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to performance obligations in the contract, and (5) recognize revenue as performance obligations are satisfied. Both the Bioflux cardiac outpatient monitoring device, and the Biotres device are wearable devices. The cardiac data that the devices monitor and collect is curated and analyzed by the Company’s proprietary algorithms and then securely communicated to a remote monitoring facility for electronic reporting and conveyance to the patient’s prescribing physician or other certified cardiac medical professional. Revenues earned are comprised of device sales revenues and technology fee revenues (technology as a service). The devices, together with their licensed software, are available for sale to the medical center or physician, who is responsible for the delivery of clinical diagnosis and therapy. The remote monitoring, data collection and reporting services performed by the technology culminate in a patient study that is generally billable when it is complete and is issued to the physician. In order to recognize revenue, management considers whether or not the following criteria are met: persuasive evidence of a commercial arrangement exists, and delivery has occurred, or services have been rendered. For sales of devices, which are invoiced directly, additional revenue recognition criteria include that the price is fixed and determinable and collectability is reasonably assured; for device sales contracts with terms of more than one year, the Company recognizes any significant financing component as revenue over the contractual period using the effective interest method, and the associated interest income is reflected accordingly on the statement of operations and included in other income; for revenue that is earned based on customer usage of the proprietary software to render a patient’s cardiac study, the Company recognizes revenue when the study ends based on a fixed billing rate. Costs associated with providing the services are recorded as the service is provided regardless of whether or when revenue is recognized. The Company may also, from time to time, earn service-related revenue from contracts with other counterparties with which it consults. This contract work is separate and distinct from services provided to clinical customers but may be with a reseller or other counterparties that are working to establish their operations in foreign jurisdictions or ancillary products or market segments in which the Company has expertise and may eventually conduct business. <p id="xdx_89C_eus-gaap--ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock_z6095cmM2ST7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The Company recognized the following forms of revenue for the three and nine months ended December 31, 2023 and 2022: SCHEDULE OF REVENUE RECOGNITION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49C_20231001__20231231_zzu5xg0hu8z1" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_497_20221001__20221231_zpZMpGlcV5V2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20230401__20231231_z0XLO08juTr1" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20220401__20221231_zz8gAF1OxGC1" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Three Months Ended</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Nine Months Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">$</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">$</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--TechnologyFeesMember_zToL0U9moLzd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Technology fee sales</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">2,780,094</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">2,253,187</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">8,280,473</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">6,240,042</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--DeviceSalesMember_zJKGYjeAyzbg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Device sales</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">192,878</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">205,994</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">604,561</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">656,580</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zG7dWrrge5h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; padding-left: 10pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,972,972</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,459,181</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">8,885,034</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">6,896,622</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) Inventories Inventory is stated at the lower of cost and market value, cost being determined on a weighted average cost basis. Market value of our finished goods inventory and raw material inventory is determined based on its estimated net realizable value, which is generally the selling price less normally predictable costs of disposal and transportation. The Company records write-downs of inventory that is obsolete or in excess of anticipated demand or market value based on consideration of product lifecycle stage, technology trends, product development plans and assumptions about future demand and market conditions. Actual demand may differ from forecasted demand, and such differences may have a material effect on recorded inventory values. Inventory write-downs are charged to cost of revenue and establish a new cost basis for the inventory. SCHEDULE OF INVENTORIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" id="xdx_498_20231231_zRYaKTREfAY7" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of December 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20230331_z6FL1WUEDMT3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of March 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--InventoryRawMaterialsAndSupplies_iI_maINzF7M_zfEkDfRa1yDi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Raw material</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,175,790</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,186,735</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--InventoryFinishedGoods_iI_maINzF7M_zVD1GpXnGSY3" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; text-align: left">Finished goods</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">873,120</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,150,271</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--InventoryNet_iTI_mtINzF7M_zuTk8jtJCVR9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Inventories</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,048,910</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,337,006</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Significant accounting estimates and assumptions The preparation of the condensed consolidated financial statements requires the use of estimates and assumptions to be made in applying the accounting policies that affect the reported amounts of assets, liabilities, revenue and expenses and the disclosure of contingent assets and liabilities. The estimates and related assumptions are based on previous experiences and other factors considered reasonable under the circumstances, the results of which form the basis for making the assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. Significant accounts that require estimates as the basis for determining the stated amounts include share-based compensation, impairment analysis and fair value of warrants, promissory notes, convertible notes and derivative liabilities. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Fair value of stock options</td></tr> </table> The Company measures the cost of equity-settled transactions with employees by reference to the fair value of equity instruments at the date at which they are granted. Estimating fair value for share-based payments requires determining the most appropriate valuation model for a grant of such instruments, which is dependent on the terms and conditions of the grant. The estimate also requires determining the most appropriate inputs to the Black-Scholes option pricing model, including the expected life of the instrument, risk-free rate, volatility, and dividend yield. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Fair value of warrants</td></tr> </table> In determining the fair value of the warrant issued for services and issue pursuant to financing transactions, the Company used the Black-Scholes option pricing model with the following assumptions: volatility rate, risk-free rate, and the remaining expected life of the warrants that are classified under equity. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Fair value of derivative liabilities</td></tr> </table> In determining the fair values of the derivative liabilities from the conversion and redemption features, the Company used Monte-Carlo and lattice models with the following assumptions: dividend yields, volatility, risk-free rate and the remaining expected life. Changes in those assumptions and inputs could in turn impact the fair value of the derivative liabilities and can have a material impact on the reported loss and comprehensive loss for the applicable reporting period. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Functional currency</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td></tr> </table> Determining the appropriate functional currencies for entities in the Company requires analysis of various factors, including the currencies and country-specific factors that mainly influence labor, materials, and other operating expenses. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Useful life of property and equipment</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td></tr> </table> The Company employs significant estimates to determine the estimated useful lives of property and equipment, considering industry trends such as technological advancements, past experience, expected use and review of asset useful lives. The Company makes estimates when determining depreciation methods, depreciation rates and asset useful lives, which requires considering industry trends and company-specific factors. The Company reviews depreciation methods, useful lives and residual values annually or when circumstances change and adjusts its depreciation methods and assumptions prospectively. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Provisions</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td></tr> </table> Provisions are recognized when the Company has a present obligation, legal or constructive, as a result of a previous event, if it is probable that the Company will be required to settle the obligation and a reliable estimate can be made of the obligation. The amount recognized is the best estimate of the expenditure required to settle the present obligation at the end of the reporting period, considering the risks and uncertainties surrounding the obligations. Provisions are reviewed at the end of each reporting period and adjusted to reflect the current best estimate of the expected future cash flows. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Contingencies</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td></tr> </table> Contingencies can be either possible assets or possible liabilities arising from past events, which, by their nature, will be resolved only when one or more uncertain future events occur or fail to occur. The assessment of the existence and potential impact of contingencies inherently involves the exercise of significant judgment and the use of estimates regarding the outcome of future events. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Inventory obsolescence</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td></tr> </table> Inventories are stated at the lower of cost and market value. Market value of our inventory, which is all purchased finished goods, is determined based on its estimated net realizable value, which is generally the selling price less normally predictable costs of disposal and transportation. The Company estimates net realizable value as the amount at which inventories are expected to be sold, taking into consideration fluctuations in retail prices less estimated costs necessary to make the sale. Inventories are written down to net realizable value when the cost of inventories is estimated to be unrecoverable due to obsolescence, damage, or declining selling prices. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Incremental borrowing rate for lease</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td></tr> </table> The determination of the Company’s lease obligation and right-of-use asset depends on certain assumptions, which include the selection of the discount rate. The discount rate is set by reference to the Company’s incremental borrowing rate. Significant assumptions are required to be made when determining which borrowing rates to apply in this determination. Changes in the assumptions used may have a significant effect on the Company’s consolidated financial statements. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) Earnings (Loss) Per Share The Company has adopted the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 260-10 which provides for calculation of “basic” and “diluted” earnings per share. Basic loss per share of common stock is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted earnings or loss per share of common stock is computed similarly to basic earnings or loss per share except the weighted average shares outstanding are increased to include additional shares from the assumed exercise of any common stock equivalents, if dilutive. The Company’s warrants, options, convertible promissory notes, convertible preferred stock, shares to be issued and restricted stock awards while outstanding are considered common stock equivalents for this purpose. Diluted earnings are computed utilizing the treasury method for the warrants, stock options, shares to be issued and restricted stock awards. Diluted earnings with respect to the convertible promissory notes and convertible preferred stock utilizing the if-converted method was applied during the periods presented when conditions required for conversion had occurred. No incremental common stock equivalents were included in calculating diluted loss per share because such inclusion would be anti-dilutive given the net loss reported for the periods presented. Cash Cash includes cash on hand and balances with banks. Foreign Currency Translation The functional currency of the Company’s Canadian-based subsidiary is the Canadian dollar, and the US-based parent is the U.S. dollar. Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the exchange rate prevailing at the consolidated balance sheet date. Non-monetary assets and liabilities are translated using the historical rate on the date of the transaction. All exchange gains or losses arising from translation of these foreign currency transactions are included in net income (loss) for the year. In translating the financial statements of the Company’s Canadian subsidiaries from their functional currency into the Company’s reporting currency of United States dollars, consolidated balance sheet accounts are translated using the closing exchange rate in effect at the balance sheet date and income and expense accounts are translated using an average exchange rate prevailing during the reporting period. Adjustments resulting from the translation, if any, are included in accumulated other comprehensive loss in stockholders’ deficiency. The Company has not, to the date of these consolidated financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations. Accounts Receivable Accounts receivable consists of amounts due to the Company from medical facilities, which receive reimbursement from institutions and third-party government and commercial payors and their related patients, as a result of the Company’s normal business activities. Accounts receivable is reported on the consolidated balance sheets net of an estimated allowance for doubtful accounts. The Company establishes an allowance for doubtful accounts for estimated uncollectible receivables based on historical experience, assessment of specific risk, review of outstanding invoices, and various assumptions and estimates that are believed to be reasonable under the circumstances, and recognizes the provision as a component of selling, general and administrative expenses. Uncollectible accounts are written off against the allowance after appropriate collection efforts have been exhausted and when it is deemed that a balance is uncollectible. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) Fair Value of Financial Instruments ASC 820 defines fair value, establishes a framework for measuring fair value and expands required disclosure about fair value measurements of assets and liabilities. ASC 820-10 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820-10 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: ● Level 1 – Valuation based on quoted market prices in active markets for identical assets or liabilities. ● Level 2 – Valuation based on quoted market prices for similar assets and liabilities in active markets. ● Level 3 – Valuation based on unobservable inputs that are supported by little or no market activity, therefore requiring management’s best estimate of what market participants would use as fair value. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments or interest rates that are comparable to market rates. These financial instruments include cash, accounts receivable, deposits and other receivables, convertible promissory notes and short term loans, federally-guaranteed loans, term loans, accounts payable and accrued liabilities. The Company’s derivative liabilities are carried at fair values and are classified as Level 3 financial instruments. The Company’s bank accounts are maintained with financial institutions of reputable credit, therefore, bear minimal credit risk. <p id="xdx_89A_eus-gaap--ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock_zWkwRVpd666j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The fair value of financial instruments measured on a recurring basis is as follows: SCHEDULE OF FAIR VALUE OF FINANCIAL INSTRUMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of December 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid">Description</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Total</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: left">Derivative liabilities, short-term</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20231231_zzMszPndndMi" style="width: 11%; text-align: right">928,333</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zZmLXrcdX633" style="width: 11%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zcfSi3GEGyi8" style="width: 11%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zT27PDf14Qt8" style="width: 11%; text-align: right">928,333</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Derivative liabilities, long-term</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20231231_zSQ9cGSekezf" style="border-bottom: Black 1.5pt solid; text-align: right">1,139,293</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zUjfI2uAujah" style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z5WGTgvYd6J9" style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zIk3TbGZmowc" style="border-bottom: Black 1.5pt solid; text-align: right">1,139,293</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total liabilities at fair value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--DerivativeLiabilities_iI_c20231231_zevVH6jBr6Jb" style="border-bottom: Black 2.5pt double; text-align: right">2,067,626</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--DerivativeLiabilities_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zonG7AhftgY4" style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--DerivativeLiabilities_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zXk2a6phh8W1" style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--DerivativeLiabilities_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zxe7BdgSqQ3j" style="border-bottom: Black 2.5pt double; text-align: right">2,067,626</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of March 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid">Description</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Total</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: left">Derivative liabilities, short-term</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20230331_zjQuSzi5dpk9" style="width: 11%; text-align: right" title="Derivative liabilities, short-term">1,008,216</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zEuHmYdmpSl4" style="width: 11%; text-align: right" title="Derivative liabilities, short-term">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zbnAUoocZr99" style="width: 11%; text-align: right" title="Derivative liabilities, short-term">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zzWWO3A9TLb1" style="width: 11%; text-align: right" title="Derivative liabilities, short-term">1,008,216</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Derivative liabilities, long-term</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20230331_zaXyWs59RoMi" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">759,065</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zqiynnqZnYXk" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zTSK6mJp6mVc" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_znxb6K3ddTAl" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">759,065</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total liabilities at fair value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--DerivativeLiabilities_iI_c20230331_zm8jMWLNpRve" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">1,767,281</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--DerivativeLiabilities_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zHdeObdgo3bd" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--DerivativeLiabilities_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zwa61uxlfkqb" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--DerivativeLiabilities_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zqrI4GPbS8A8" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">1,767,281</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> There were no transfers between fair value hierarchy levels during the three and nine months ended December 31, 2023 and 2022. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized over the shorter of the lease term or the estimated useful lives of the assets. Maintenance and repairs are charged to expense as incurred, and improvements and betterments are capitalized. Depreciation of property and equipment is provided using the straight-line method for substantially all assets with estimated lives as follow: SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 50%">Office equipment</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 50%; text-align: left">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">Leasehold improvement</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">5 years</td></tr> </table> Impairment for Long-Lived Assets The Company applies the provisions of ASC Topic 360, Property, Plant, and Equipment, which addresses financial accounting and reporting for the impairment or disposal of long-lived assets. ASC 360 requires impairment losses to be recorded on long-lived assets, including right-of-use assets, used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets’ carrying amounts. In that event, a loss is recognized based on the amount by which the carrying amount exceeds the fair value of the long-lived assets. Loss on long-lived assets to be disposed of is determined in a similar manner, except that fair values are reduced for the cost of disposal. Based on its review at December 31, 2023 and March 31, 2023, the Company believes there was no impairment of its long-lived assets. Leases The Company is the lessee in a lease contract when the Company obtains the right to use the asset. Operating leases are included in the line items right-of-use asset, lease liabilities, current, and lease liabilities, long-term in the consolidated balance sheet. Right-of-use (“ROU”) asset represents the Company’s right to use an underlying asset for the lease term and lease obligations represent the Company’s obligations to make lease payments arising from the lease, both of which are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. Leases with a lease term of 12 months or less at inception are not recorded on the consolidated balance sheets and are expensed on a straight-line basis over the lease term in the consolidated statements of operations and comprehensive loss. The Company determines the lease term by agreement with lessor. As the Company’s lease does not provide implicit interest rate, the Company uses the Company’s incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. Refer to Note 10 for further discussion. Income Taxes The Company accounts for income taxes in accordance with ASC 740. The Company provides for Federal, State and Provincial income taxes payable, as well as for those deferred because of the timing differences between reporting income and expenses for consolidated financial statement purposes versus tax purposes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recoverable or settled. The effect of a change in tax rates is recognized as income or expense in the period of the change. A valuation allowance is established, when necessary, to reduce deferred income tax assets to the amount that is more likely than not to be realized. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) Research and Development Research and development costs, which relate primarily to product and software development, are charged to operations as incurred. Under certain research and development arrangements with third parties, the Company may be required to make payments that are contingent on the achievement of specific developmental, regulatory and/or commercial milestones. Before a product receives regulatory approval, milestone payments made to third parties are expensed when the milestone is achieved. Milestone payments made to third parties after regulatory approval is received are capitalized and amortized over the estimated useful life of the approved product. Selling, General and Administrative Selling, general and administrative expenses consist primarily of personnel-related costs including stock-based compensation for personnel in functions not directly associated with research and development activities. Other significant costs include sales and marketing costs, investor relations and legal costs relating to corporate matters, professional fees for consultants assisting with business development and financial matters, and office and administrative expenses. Stock Based Compensation The Company accounts for share-based payments in accordance with the provision of ASC 718, which requires that all share-based payments issued to acquire goods or services, including grants of employee stock options, be recognized in the consolidated statements of operations and comprehensive loss based on their fair values, net of estimated forfeitures. ASC 718 requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Compensation expenses related to share-based awards is recognized over the requisite service period, which is generally the vesting period. The Company accounts for stock based compensation awards issued to non-employees for services, as prescribed by ASC 718-10, at either the fair value of the services rendered or the instruments issued in exchange for such services, whichever is more readily determinable, using the guidelines in ASC 505-50. The Company issues compensatory shares for services including, but not limited to, executive, management, accounting, operations, corporate communication, financial and administrative consulting services. Convertible Notes Payable and Derivative Instruments The Company has adopted the provisions of ASU 2017-11 to account for the down round features of warrants issued with private placements effective as of April 1, 2017. In doing so, warrants with a down round feature previously treated as derivative liabilities in the consolidated balance sheet and measured at fair value are henceforth treated as equity, with no adjustment for changes in fair value at each reporting period. The Company also accounts for conversion options embedded in convertible notes in accordance with ASC 815. ASC 815 generally requires companies to bifurcate conversion options embedded in convertible notes from their host instruments and to account for them as free-standing derivative financial instruments. ASC 815 provides for an exception to this rule when convertible notes, as host instruments, are deemed to be conventional, as defined by ASC 815-40. The Company accounts for convertible notes deemed conventional and conversion options embedded in non-conventional convertible notes which qualify as equity under ASC 815. Accordingly, the Company records, as a discount to convertible notes, the amount bifurcated from the convertible notes attributed to any derivatives. Debt discounts under these arrangements are amortized over the term of the related debt. Series B Convertible Preferred Stock The Series B convertible preferred stock (“Series B Preferred Stock”) was accounted for as mezzanine equity and the embedded conversion and redemption features was accounted for as derivative liabilities with change in fair value at each reporting period end charged to consolidated statement of operation in accordance with ASC 480 and ASC 815. Preferred Share Redemption and Conversions The Company accounted for preferred stock redemptions and conversions in accordance to ASU-260-10-S99. For Series A preferred stock redemptions, the difference between the fair value of consideration transferred to the holders of the preferred stock and the carrying amount of the preferred stock is accounted as deemed dividend distribution and subtracted from net loss. For Series B preferred stock conversions, no gain or loss is recognized upon Series B preferred stock conversion except for the fair value adjustment for the conversion and redemption feature derivative liabilities on the conversion date. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments.” This pronouncement, along with subsequent ASUs issued to clarify provisions of ASU 2016-13, changes the impairment model for most financial assets and will require the use of an “expected loss” model for instruments measured at amortized cost. Under this model, entities will be required to estimate the lifetime expected credit loss on such instruments and record an allowance to offset the amortized cost basis of the financial asset, resulting in a net presentation of the amount expected to be collected on the financial asset. In developing the estimate for lifetime expected credit loss, entities must incorporate historical experience, current conditions, and reasonable and supportable forecasts. This pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2019. On November 19, 2019, the FASB issued ASU No. 2019-10, Financial Instruments—Credit Losses (Topic 326), finalized various effective date delays for private companies, not-for-profit organizations, and certain smaller reporting companies applying the credit losses (CECL), the revised effective for fiscal years beginning after December 15, 2022. The Company adopted this guidance on April 1, 2023 and it did not have a significant impact on the Company’s consolidated financial statements.

Revenue Recognition The Company adopted Accounting Standards Codification Topic 606, “Revenue from Contracts with Customers” (“ASC 606”) on April 1, 2018. In accordance with ASC 606, revenue is recognized when promised goods or services are transferred to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services by applying the core principles – (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to performance obligations in the contract, and (5) recognize revenue as performance obligations are satisfied. Both the Bioflux cardiac outpatient monitoring device, and the Biotres device are wearable devices. The cardiac data that the devices monitor and collect is curated and analyzed by the Company’s proprietary algorithms and then securely communicated to a remote monitoring facility for electronic reporting and conveyance to the patient’s prescribing physician or other certified cardiac medical professional. Revenues earned are comprised of device sales revenues and technology fee revenues (technology as a service). The devices, together with their licensed software, are available for sale to the medical center or physician, who is responsible for the delivery of clinical diagnosis and therapy. The remote monitoring, data collection and reporting services performed by the technology culminate in a patient study that is generally billable when it is complete and is issued to the physician. In order to recognize revenue, management considers whether or not the following criteria are met: persuasive evidence of a commercial arrangement exists, and delivery has occurred, or services have been rendered. For sales of devices, which are invoiced directly, additional revenue recognition criteria include that the price is fixed and determinable and collectability is reasonably assured; for device sales contracts with terms of more than one year, the Company recognizes any significant financing component as revenue over the contractual period using the effective interest method, and the associated interest income is reflected accordingly on the statement of operations and included in other income; for revenue that is earned based on customer usage of the proprietary software to render a patient’s cardiac study, the Company recognizes revenue when the study ends based on a fixed billing rate. Costs associated with providing the services are recorded as the service is provided regardless of whether or when revenue is recognized. The Company may also, from time to time, earn service-related revenue from contracts with other counterparties with which it consults. This contract work is separate and distinct from services provided to clinical customers but may be with a reseller or other counterparties that are working to establish their operations in foreign jurisdictions or ancillary products or market segments in which the Company has expertise and may eventually conduct business. <p id="xdx_89C_eus-gaap--ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock_z6095cmM2ST7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The Company recognized the following forms of revenue for the three and nine months ended December 31, 2023 and 2022: SCHEDULE OF REVENUE RECOGNITION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49C_20231001__20231231_zzu5xg0hu8z1" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_497_20221001__20221231_zpZMpGlcV5V2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20230401__20231231_z0XLO08juTr1" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20220401__20221231_zz8gAF1OxGC1" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Three Months Ended</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Nine Months Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">$</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">$</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--TechnologyFeesMember_zToL0U9moLzd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Technology fee sales</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">2,780,094</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">2,253,187</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">8,280,473</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">6,240,042</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--DeviceSalesMember_zJKGYjeAyzbg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Device sales</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">192,878</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">205,994</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">604,561</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">656,580</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zG7dWrrge5h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; padding-left: 10pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,972,972</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,459,181</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">8,885,034</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">6,896,622</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars)

<p id="xdx_89C_eus-gaap--ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock_z6095cmM2ST7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The Company recognized the following forms of revenue for the three and nine months ended December 31, 2023 and 2022: SCHEDULE OF REVENUE RECOGNITION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49C_20231001__20231231_zzu5xg0hu8z1" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_497_20221001__20221231_zpZMpGlcV5V2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20230401__20231231_z0XLO08juTr1" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20220401__20221231_zz8gAF1OxGC1" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Three Months Ended</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Nine Months Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">$</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">$</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--TechnologyFeesMember_zToL0U9moLzd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Technology fee sales</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">2,780,094</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">2,253,187</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">8,280,473</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">6,240,042</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--DeviceSalesMember_zJKGYjeAyzbg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Device sales</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">192,878</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">205,994</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">604,561</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">656,580</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zG7dWrrge5h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; padding-left: 10pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,972,972</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,459,181</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">8,885,034</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">6,896,622</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

2780094

2253187

8280473

6240042

192878

205994

604561

656580

2972972

2459181

8885034

6896622

Inventories Inventory is stated at the lower of cost and market value, cost being determined on a weighted average cost basis. Market value of our finished goods inventory and raw material inventory is determined based on its estimated net realizable value, which is generally the selling price less normally predictable costs of disposal and transportation. The Company records write-downs of inventory that is obsolete or in excess of anticipated demand or market value based on consideration of product lifecycle stage, technology trends, product development plans and assumptions about future demand and market conditions. Actual demand may differ from forecasted demand, and such differences may have a material effect on recorded inventory values. Inventory write-downs are charged to cost of revenue and establish a new cost basis for the inventory. SCHEDULE OF INVENTORIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" id="xdx_498_20231231_zRYaKTREfAY7" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of December 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20230331_z6FL1WUEDMT3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of March 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--InventoryRawMaterialsAndSupplies_iI_maINzF7M_zfEkDfRa1yDi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Raw material</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,175,790</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,186,735</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--InventoryFinishedGoods_iI_maINzF7M_zVD1GpXnGSY3" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; text-align: left">Finished goods</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">873,120</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,150,271</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--InventoryNet_iTI_mtINzF7M_zuTk8jtJCVR9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Inventories</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,048,910</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,337,006</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

SCHEDULE OF INVENTORIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" id="xdx_498_20231231_zRYaKTREfAY7" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of December 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20230331_z6FL1WUEDMT3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of March 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--InventoryRawMaterialsAndSupplies_iI_maINzF7M_zfEkDfRa1yDi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Raw material</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,175,790</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,186,735</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--InventoryFinishedGoods_iI_maINzF7M_zVD1GpXnGSY3" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; text-align: left">Finished goods</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">873,120</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,150,271</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--InventoryNet_iTI_mtINzF7M_zuTk8jtJCVR9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Inventories</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,048,910</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,337,006</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1175790

1186735

873120

1150271

2048910

2337006

Significant accounting estimates and assumptions The preparation of the condensed consolidated financial statements requires the use of estimates and assumptions to be made in applying the accounting policies that affect the reported amounts of assets, liabilities, revenue and expenses and the disclosure of contingent assets and liabilities. The estimates and related assumptions are based on previous experiences and other factors considered reasonable under the circumstances, the results of which form the basis for making the assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. Significant accounts that require estimates as the basis for determining the stated amounts include share-based compensation, impairment analysis and fair value of warrants, promissory notes, convertible notes and derivative liabilities. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Fair value of stock options</td></tr> </table> The Company measures the cost of equity-settled transactions with employees by reference to the fair value of equity instruments at the date at which they are granted. Estimating fair value for share-based payments requires determining the most appropriate valuation model for a grant of such instruments, which is dependent on the terms and conditions of the grant. The estimate also requires determining the most appropriate inputs to the Black-Scholes option pricing model, including the expected life of the instrument, risk-free rate, volatility, and dividend yield. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Fair value of warrants</td></tr> </table> In determining the fair value of the warrant issued for services and issue pursuant to financing transactions, the Company used the Black-Scholes option pricing model with the following assumptions: volatility rate, risk-free rate, and the remaining expected life of the warrants that are classified under equity. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Fair value of derivative liabilities</td></tr> </table> In determining the fair values of the derivative liabilities from the conversion and redemption features, the Company used Monte-Carlo and lattice models with the following assumptions: dividend yields, volatility, risk-free rate and the remaining expected life. Changes in those assumptions and inputs could in turn impact the fair value of the derivative liabilities and can have a material impact on the reported loss and comprehensive loss for the applicable reporting period. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Functional currency</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td></tr> </table> Determining the appropriate functional currencies for entities in the Company requires analysis of various factors, including the currencies and country-specific factors that mainly influence labor, materials, and other operating expenses. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Useful life of property and equipment</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td></tr> </table> The Company employs significant estimates to determine the estimated useful lives of property and equipment, considering industry trends such as technological advancements, past experience, expected use and review of asset useful lives. The Company makes estimates when determining depreciation methods, depreciation rates and asset useful lives, which requires considering industry trends and company-specific factors. The Company reviews depreciation methods, useful lives and residual values annually or when circumstances change and adjusts its depreciation methods and assumptions prospectively. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Provisions</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td></tr> </table> Provisions are recognized when the Company has a present obligation, legal or constructive, as a result of a previous event, if it is probable that the Company will be required to settle the obligation and a reliable estimate can be made of the obligation. The amount recognized is the best estimate of the expenditure required to settle the present obligation at the end of the reporting period, considering the risks and uncertainties surrounding the obligations. Provisions are reviewed at the end of each reporting period and adjusted to reflect the current best estimate of the expected future cash flows. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Contingencies</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td></tr> </table> Contingencies can be either possible assets or possible liabilities arising from past events, which, by their nature, will be resolved only when one or more uncertain future events occur or fail to occur. The assessment of the existence and potential impact of contingencies inherently involves the exercise of significant judgment and the use of estimates regarding the outcome of future events. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Inventory obsolescence</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td></tr> </table> Inventories are stated at the lower of cost and market value. Market value of our inventory, which is all purchased finished goods, is determined based on its estimated net realizable value, which is generally the selling price less normally predictable costs of disposal and transportation. The Company estimates net realizable value as the amount at which inventories are expected to be sold, taking into consideration fluctuations in retail prices less estimated costs necessary to make the sale. Inventories are written down to net realizable value when the cost of inventories is estimated to be unrecoverable due to obsolescence, damage, or declining selling prices. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Incremental borrowing rate for lease</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0px"> </td></tr> </table> The determination of the Company’s lease obligation and right-of-use asset depends on certain assumptions, which include the selection of the discount rate. The discount rate is set by reference to the Company’s incremental borrowing rate. Significant assumptions are required to be made when determining which borrowing rates to apply in this determination. Changes in the assumptions used may have a significant effect on the Company’s consolidated financial statements. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars)

Earnings (Loss) Per Share The Company has adopted the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 260-10 which provides for calculation of “basic” and “diluted” earnings per share. Basic loss per share of common stock is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted earnings or loss per share of common stock is computed similarly to basic earnings or loss per share except the weighted average shares outstanding are increased to include additional shares from the assumed exercise of any common stock equivalents, if dilutive. The Company’s warrants, options, convertible promissory notes, convertible preferred stock, shares to be issued and restricted stock awards while outstanding are considered common stock equivalents for this purpose. Diluted earnings are computed utilizing the treasury method for the warrants, stock options, shares to be issued and restricted stock awards. Diluted earnings with respect to the convertible promissory notes and convertible preferred stock utilizing the if-converted method was applied during the periods presented when conditions required for conversion had occurred. No incremental common stock equivalents were included in calculating diluted loss per share because such inclusion would be anti-dilutive given the net loss reported for the periods presented.

Cash Cash includes cash on hand and balances with banks.

Foreign Currency Translation The functional currency of the Company’s Canadian-based subsidiary is the Canadian dollar, and the US-based parent is the U.S. dollar. Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the exchange rate prevailing at the consolidated balance sheet date. Non-monetary assets and liabilities are translated using the historical rate on the date of the transaction. All exchange gains or losses arising from translation of these foreign currency transactions are included in net income (loss) for the year. In translating the financial statements of the Company’s Canadian subsidiaries from their functional currency into the Company’s reporting currency of United States dollars, consolidated balance sheet accounts are translated using the closing exchange rate in effect at the balance sheet date and income and expense accounts are translated using an average exchange rate prevailing during the reporting period. Adjustments resulting from the translation, if any, are included in accumulated other comprehensive loss in stockholders’ deficiency. The Company has not, to the date of these consolidated financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations.

Accounts Receivable Accounts receivable consists of amounts due to the Company from medical facilities, which receive reimbursement from institutions and third-party government and commercial payors and their related patients, as a result of the Company’s normal business activities. Accounts receivable is reported on the consolidated balance sheets net of an estimated allowance for doubtful accounts. The Company establishes an allowance for doubtful accounts for estimated uncollectible receivables based on historical experience, assessment of specific risk, review of outstanding invoices, and various assumptions and estimates that are believed to be reasonable under the circumstances, and recognizes the provision as a component of selling, general and administrative expenses. Uncollectible accounts are written off against the allowance after appropriate collection efforts have been exhausted and when it is deemed that a balance is uncollectible. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars)

Fair Value of Financial Instruments ASC 820 defines fair value, establishes a framework for measuring fair value and expands required disclosure about fair value measurements of assets and liabilities. ASC 820-10 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820-10 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: ● Level 1 – Valuation based on quoted market prices in active markets for identical assets or liabilities. ● Level 2 – Valuation based on quoted market prices for similar assets and liabilities in active markets. ● Level 3 – Valuation based on unobservable inputs that are supported by little or no market activity, therefore requiring management’s best estimate of what market participants would use as fair value. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments or interest rates that are comparable to market rates. These financial instruments include cash, accounts receivable, deposits and other receivables, convertible promissory notes and short term loans, federally-guaranteed loans, term loans, accounts payable and accrued liabilities. The Company’s derivative liabilities are carried at fair values and are classified as Level 3 financial instruments. The Company’s bank accounts are maintained with financial institutions of reputable credit, therefore, bear minimal credit risk. <p id="xdx_89A_eus-gaap--ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock_zWkwRVpd666j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The fair value of financial instruments measured on a recurring basis is as follows: SCHEDULE OF FAIR VALUE OF FINANCIAL INSTRUMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of December 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid">Description</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Total</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: left">Derivative liabilities, short-term</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20231231_zzMszPndndMi" style="width: 11%; text-align: right">928,333</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zZmLXrcdX633" style="width: 11%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zcfSi3GEGyi8" style="width: 11%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zT27PDf14Qt8" style="width: 11%; text-align: right">928,333</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Derivative liabilities, long-term</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20231231_zSQ9cGSekezf" style="border-bottom: Black 1.5pt solid; text-align: right">1,139,293</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zUjfI2uAujah" style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z5WGTgvYd6J9" style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zIk3TbGZmowc" style="border-bottom: Black 1.5pt solid; text-align: right">1,139,293</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total liabilities at fair value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--DerivativeLiabilities_iI_c20231231_zevVH6jBr6Jb" style="border-bottom: Black 2.5pt double; text-align: right">2,067,626</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--DerivativeLiabilities_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zonG7AhftgY4" style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--DerivativeLiabilities_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zXk2a6phh8W1" style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--DerivativeLiabilities_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zxe7BdgSqQ3j" style="border-bottom: Black 2.5pt double; text-align: right">2,067,626</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of March 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid">Description</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Total</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: left">Derivative liabilities, short-term</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20230331_zjQuSzi5dpk9" style="width: 11%; text-align: right" title="Derivative liabilities, short-term">1,008,216</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zEuHmYdmpSl4" style="width: 11%; text-align: right" title="Derivative liabilities, short-term">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zbnAUoocZr99" style="width: 11%; text-align: right" title="Derivative liabilities, short-term">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zzWWO3A9TLb1" style="width: 11%; text-align: right" title="Derivative liabilities, short-term">1,008,216</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Derivative liabilities, long-term</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20230331_zaXyWs59RoMi" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">759,065</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zqiynnqZnYXk" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zTSK6mJp6mVc" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_znxb6K3ddTAl" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">759,065</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total liabilities at fair value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--DerivativeLiabilities_iI_c20230331_zm8jMWLNpRve" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">1,767,281</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--DerivativeLiabilities_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zHdeObdgo3bd" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--DerivativeLiabilities_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zwa61uxlfkqb" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--DerivativeLiabilities_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zqrI4GPbS8A8" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">1,767,281</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> There were no transfers between fair value hierarchy levels during the three and nine months ended December 31, 2023 and 2022. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars)

<p id="xdx_89A_eus-gaap--ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock_zWkwRVpd666j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The fair value of financial instruments measured on a recurring basis is as follows: SCHEDULE OF FAIR VALUE OF FINANCIAL INSTRUMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of December 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid">Description</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Total</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: left">Derivative liabilities, short-term</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20231231_zzMszPndndMi" style="width: 11%; text-align: right">928,333</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zZmLXrcdX633" style="width: 11%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zcfSi3GEGyi8" style="width: 11%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zT27PDf14Qt8" style="width: 11%; text-align: right">928,333</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Derivative liabilities, long-term</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20231231_zSQ9cGSekezf" style="border-bottom: Black 1.5pt solid; text-align: right">1,139,293</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zUjfI2uAujah" style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z5WGTgvYd6J9" style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zIk3TbGZmowc" style="border-bottom: Black 1.5pt solid; text-align: right">1,139,293</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total liabilities at fair value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--DerivativeLiabilities_iI_c20231231_zevVH6jBr6Jb" style="border-bottom: Black 2.5pt double; text-align: right">2,067,626</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--DerivativeLiabilities_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zonG7AhftgY4" style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--DerivativeLiabilities_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zXk2a6phh8W1" style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--DerivativeLiabilities_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zxe7BdgSqQ3j" style="border-bottom: Black 2.5pt double; text-align: right">2,067,626</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of March 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid">Description</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Total</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: left">Derivative liabilities, short-term</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20230331_zjQuSzi5dpk9" style="width: 11%; text-align: right" title="Derivative liabilities, short-term">1,008,216</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zEuHmYdmpSl4" style="width: 11%; text-align: right" title="Derivative liabilities, short-term">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zbnAUoocZr99" style="width: 11%; text-align: right" title="Derivative liabilities, short-term">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--DerivativeLiabilitiesCurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zzWWO3A9TLb1" style="width: 11%; text-align: right" title="Derivative liabilities, short-term">1,008,216</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Derivative liabilities, long-term</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20230331_zaXyWs59RoMi" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">759,065</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zqiynnqZnYXk" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zTSK6mJp6mVc" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_znxb6K3ddTAl" style="border-bottom: Black 1.5pt solid; text-align: right" title="Derivative liabilities, long-term">759,065</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total liabilities at fair value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--DerivativeLiabilities_iI_c20230331_zm8jMWLNpRve" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">1,767,281</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--DerivativeLiabilities_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zHdeObdgo3bd" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--DerivativeLiabilities_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zwa61uxlfkqb" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--DerivativeLiabilities_iI_c20230331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zqrI4GPbS8A8" style="border-bottom: Black 2.5pt double; text-align: right" title="Total liabilities at fair value">1,767,281</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

928333

1139293

2067626

1008216

759065

1767281

Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized over the shorter of the lease term or the estimated useful lives of the assets. Maintenance and repairs are charged to expense as incurred, and improvements and betterments are capitalized. Depreciation of property and equipment is provided using the straight-line method for substantially all assets with estimated lives as follow: SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 50%">Office equipment</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 50%; text-align: left">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">Leasehold improvement</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">5 years</td></tr> </table>

SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 50%">Office equipment</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 50%; text-align: left">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">Leasehold improvement</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">5 years</td></tr> </table>

P5Y

Impairment for Long-Lived Assets The Company applies the provisions of ASC Topic 360, Property, Plant, and Equipment, which addresses financial accounting and reporting for the impairment or disposal of long-lived assets. ASC 360 requires impairment losses to be recorded on long-lived assets, including right-of-use assets, used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets’ carrying amounts. In that event, a loss is recognized based on the amount by which the carrying amount exceeds the fair value of the long-lived assets. Loss on long-lived assets to be disposed of is determined in a similar manner, except that fair values are reduced for the cost of disposal. Based on its review at December 31, 2023 and March 31, 2023, the Company believes there was no impairment of its long-lived assets.

Leases The Company is the lessee in a lease contract when the Company obtains the right to use the asset. Operating leases are included in the line items right-of-use asset, lease liabilities, current, and lease liabilities, long-term in the consolidated balance sheet. Right-of-use (“ROU”) asset represents the Company’s right to use an underlying asset for the lease term and lease obligations represent the Company’s obligations to make lease payments arising from the lease, both of which are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. Leases with a lease term of 12 months or less at inception are not recorded on the consolidated balance sheets and are expensed on a straight-line basis over the lease term in the consolidated statements of operations and comprehensive loss. The Company determines the lease term by agreement with lessor. As the Company’s lease does not provide implicit interest rate, the Company uses the Company’s incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. Refer to Note 10 for further discussion.

Income Taxes The Company accounts for income taxes in accordance with ASC 740. The Company provides for Federal, State and Provincial income taxes payable, as well as for those deferred because of the timing differences between reporting income and expenses for consolidated financial statement purposes versus tax purposes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recoverable or settled. The effect of a change in tax rates is recognized as income or expense in the period of the change. A valuation allowance is established, when necessary, to reduce deferred income tax assets to the amount that is more likely than not to be realized. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars)

Research and Development Research and development costs, which relate primarily to product and software development, are charged to operations as incurred. Under certain research and development arrangements with third parties, the Company may be required to make payments that are contingent on the achievement of specific developmental, regulatory and/or commercial milestones. Before a product receives regulatory approval, milestone payments made to third parties are expensed when the milestone is achieved. Milestone payments made to third parties after regulatory approval is received are capitalized and amortized over the estimated useful life of the approved product.

Selling, General and Administrative Selling, general and administrative expenses consist primarily of personnel-related costs including stock-based compensation for personnel in functions not directly associated with research and development activities. Other significant costs include sales and marketing costs, investor relations and legal costs relating to corporate matters, professional fees for consultants assisting with business development and financial matters, and office and administrative expenses.

Stock Based Compensation The Company accounts for share-based payments in accordance with the provision of ASC 718, which requires that all share-based payments issued to acquire goods or services, including grants of employee stock options, be recognized in the consolidated statements of operations and comprehensive loss based on their fair values, net of estimated forfeitures. ASC 718 requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Compensation expenses related to share-based awards is recognized over the requisite service period, which is generally the vesting period. The Company accounts for stock based compensation awards issued to non-employees for services, as prescribed by ASC 718-10, at either the fair value of the services rendered or the instruments issued in exchange for such services, whichever is more readily determinable, using the guidelines in ASC 505-50. The Company issues compensatory shares for services including, but not limited to, executive, management, accounting, operations, corporate communication, financial and administrative consulting services.

Convertible Notes Payable and Derivative Instruments The Company has adopted the provisions of ASU 2017-11 to account for the down round features of warrants issued with private placements effective as of April 1, 2017. In doing so, warrants with a down round feature previously treated as derivative liabilities in the consolidated balance sheet and measured at fair value are henceforth treated as equity, with no adjustment for changes in fair value at each reporting period. The Company also accounts for conversion options embedded in convertible notes in accordance with ASC 815. ASC 815 generally requires companies to bifurcate conversion options embedded in convertible notes from their host instruments and to account for them as free-standing derivative financial instruments. ASC 815 provides for an exception to this rule when convertible notes, as host instruments, are deemed to be conventional, as defined by ASC 815-40. The Company accounts for convertible notes deemed conventional and conversion options embedded in non-conventional convertible notes which qualify as equity under ASC 815. Accordingly, the Company records, as a discount to convertible notes, the amount bifurcated from the convertible notes attributed to any derivatives. Debt discounts under these arrangements are amortized over the term of the related debt.

Series B Convertible Preferred Stock The Series B convertible preferred stock (“Series B Preferred Stock”) was accounted for as mezzanine equity and the embedded conversion and redemption features was accounted for as derivative liabilities with change in fair value at each reporting period end charged to consolidated statement of operation in accordance with ASC 480 and ASC 815. Preferred Share Redemption and Conversions The Company accounted for preferred stock redemptions and conversions in accordance to ASU-260-10-S99. For Series A preferred stock redemptions, the difference between the fair value of consideration transferred to the holders of the preferred stock and the carrying amount of the preferred stock is accounted as deemed dividend distribution and subtracted from net loss. For Series B preferred stock conversions, no gain or loss is recognized upon Series B preferred stock conversion except for the fair value adjustment for the conversion and redemption feature derivative liabilities on the conversion date. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars)

Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments.” This pronouncement, along with subsequent ASUs issued to clarify provisions of ASU 2016-13, changes the impairment model for most financial assets and will require the use of an “expected loss” model for instruments measured at amortized cost. Under this model, entities will be required to estimate the lifetime expected credit loss on such instruments and record an allowance to offset the amortized cost basis of the financial asset, resulting in a net presentation of the amount expected to be collected on the financial asset. In developing the estimate for lifetime expected credit loss, entities must incorporate historical experience, current conditions, and reasonable and supportable forecasts. This pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2019. On November 19, 2019, the FASB issued ASU No. 2019-10, Financial Instruments—Credit Losses (Topic 326), finalized various effective date delays for private companies, not-for-profit organizations, and certain smaller reporting companies applying the credit losses (CECL), the revised effective for fiscal years beginning after December 15, 2022. The Company adopted this guidance on April 1, 2023 and it did not have a significant impact on the Company’s consolidated financial statements.

4. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20231231_ztRoHo4PuVo9" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31, 2023</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_490_20230331_zfl1OXP9yZd7" style="border-bottom: Black 1.5pt solid; text-align: center">As of March 31, 2023</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--AccountsPayableOtherCurrent_iI_maAPAALzJVu_zkO4Ob4rJHr9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Trade and other payables</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">4,656,265</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3,435,123</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AccruedLiabilitiesCurrent_iI_maAPAALzJVu_z8MKVYUFafYk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,891,440</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,607,353</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredRevenue_iI_maAPAALzJVu_zrFt6DFn4hra" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Deferred revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">11,040</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AccountsPayableAndAccruedLiabilitiesCurrent_iTI_mtAPAALzJVu_zPS1bf1V1999" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">7,558,745</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">5,042,476</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Trade and other payables and accrued liabilities as at December 31, 2023 and March 31, 2023 included $725,649 and $446,771, respectively, due to a shareholder, who is a director and executive of the Company.

SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20231231_ztRoHo4PuVo9" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31, 2023</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_490_20230331_zfl1OXP9yZd7" style="border-bottom: Black 1.5pt solid; text-align: center">As of March 31, 2023</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--AccountsPayableOtherCurrent_iI_maAPAALzJVu_zkO4Ob4rJHr9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Trade and other payables</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">4,656,265</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3,435,123</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AccruedLiabilitiesCurrent_iI_maAPAALzJVu_z8MKVYUFafYk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,891,440</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,607,353</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredRevenue_iI_maAPAALzJVu_zrFt6DFn4hra" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Deferred revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">11,040</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AccountsPayableAndAccruedLiabilitiesCurrent_iTI_mtAPAALzJVu_zPS1bf1V1999" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">7,558,745</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">5,042,476</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

4656265

3435123

2891440

1607353

11040

7558745

5042476

725649

446771

5. CONVERTIBLE PROMISSORY NOTES AND SHORT TERM LOANS Series A Convertible Promissory Notes: During the year ended March 31, 2021, the Company issued $11,275,500 (face value) in two series of convertible promissory notes (the “Series A Notes”) sold under subscription agreements to accredited investors. The Notes mature one year from the final closing date of the offering and accrue interest at 12% per annum. For the first series of Series A Notes, commencing six months following the Issuance Date, and at any time thereafter (provided the Holder has not received notice of the Company’s intent to prepay the note), at the sole election of the Holder, any amount of the outstanding principal and accrued interest of this note (the “Outstanding Balance”) could be converted into that number of shares of Common Stock equal to: <span id="xdx_903_eus-gaap--DebtInstrumentConvertibleTermsOfConversionFeature_c20200401__20210331__us-gaap--DebtInstrumentAxis__custom--SeriesANotesOneMember_znvP5RHZ0Bsh" title="Description of conversion terms for debt instrument">(i) the Outstanding Balance divided by (ii) 75% of the volume weighted average price of the Common Stock for the 5 trading days prior to the Conversion Date (the conversion price). For the first series of Series A Notes, the notes would automatically convert into common stock (in each case, subject to the trading volume of the Company’s common stock being a minimum of $500,000 for each trading day in the 20 consecutive trading days immediately preceding the conversion date), upon the earlier to occur of (i) the Company’s common stock being listed on a national securities exchange, in which event the conversion price would be equal to 75% of the volume weighted average price of the common stock for the 20 trading days prior to the conversion date, or (ii) upon the closing of the Company’s next equity round of financing for gross proceeds of greater than $5,000,000, in which event the conversion price would be equal to 75% of the price per share of the common stock (or of the conversion price in the event of the sale of securities convertible into common stock) sold in such financing. The Company could, at its discretion, redeem the notes for 115% of their face value plus accrued interest. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) For the second series of Series A Notes, the notes could be converted into shares of common stock, at the option of the holder, commencing six months from issuance, at a conversion price equal to the lower of $24.00 per share or <span id="xdx_909_eus-gaap--DebtInstrumentConvertibleTermsOfConversionFeature_c20200401__20210331__us-gaap--DebtInstrumentAxis__custom--SeriesANotesTwoMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zVYnD5gWGezb" title="Description of conversion terms for debt instrument">75% of the volume weighted average price of the common stock for the five trading days prior to the conversion date. For the second series of Series A Notes,<span id="xdx_90F_eus-gaap--DebtConversionDescription_c20200401__20210331__us-gaap--DebtInstrumentAxis__custom--SeriesANotesTwoMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zatPbpuTWS6i" title="Debt conversion description"> the notes would automatically convert into common stock (in each case, subject to the trading volume of the Company’s common stock being a minimum of $500,000 for each trading day in the 20 consecutive trading days immediately preceding the conversion date), upon the earlier to occur of (i) the Company’s common stock being listed on a national securities exchange, in which event the conversion price would be equal to the lower of $24.00 per share or 75% of the volume weighted average price of the common stock for the 20 trading days prior to the conversion date, or (ii) upon the closing of the Company’s next equity round of financing for gross proceeds of greater than $5,000,000, in which event the conversion price would be equal to the lower of $24.00 per share or 75% of the price per share of the common stock (or of the conversion price in the event of the sale of securities convertible into common stock) sold in such financing. The Company could, at its discretion, redeem the notes for 115% of their face value plus accrued interest. <span id="xdx_901_ecustom--PlacementAgentFeesDescription_c20200401__20210331__us-gaap--DebtInstrumentAxis__custom--TwoSeriesANotesMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z0ysdXkSYhnk" title="Placement agent fees description">The Company was obligated to issue warrants that accompany the convertible notes and provide 50% warrant coverage. The warrants have a 3-year term from date of issuance and an exercise price that is 120% of the 20-day volume weighted average price of the Company’s common shares at the time final closing. <span id="xdx_908_ecustom--PlacementAgentFeesDescription_c20200401__20210331__srt--TitleOfIndividualAxis__custom--PlacementAgentMember__us-gaap--DebtInstrumentAxis__custom--SeriesANotesOneMember_zko6KaWVJOEl" title="Placement agent fees description">The Company was obligated to pay the placement agent of the first series of Series A Notes a 12% cash fee for $8,925,500 (face value) of the notes and 2.5% cash fee and other sundry expenses for the remaining $2,350,000 (face value) of the notes. <span id="xdx_905_ecustom--PlacementAgentFeesDescription_c20200401__20210331__srt--TitleOfIndividualAxis__custom--PlacementAgentMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--DebtInstrumentAxis__custom--FirstandSecondSeriesMember_zc2FPhFpIUh4" title="Placement agent fees description">The Company was also obligated to issue warrants to the placement agent that have a 10-year term and cover 12% of funds raised for $8,925,550 (face value) of the notes (first series) and 2.5% of funds raised for the remaining $2,350,000 (face value) of notes (second series), with an exercise price that is 120% of the 20-day volume weighted average price of the Company’s common shares at the time final closing. On final closing, which occurred on January 8, 2021, the warrants’ exercise price was struck at $6.36 per share. Prior to January 8, 2021 (final closing date), the Company determined that the conversion and redemption features contained in those Notes represented a single compound derivative liability that meets the requirements for liability classification under ASC 815. The Company accounted for these obligations by determining the fair value of the related derivative liabilities associated with the embedded conversion and redemption features. For the Series A Notes, The Company recognized debt issuance costs in the amount of $2,301,854 and treated these as a deduction from the convertible note liabilities directly, as a contra-liability, and amortized the debt issuance cost over the term of the Notes. The Company also recognized initial debt discount in the amount of $8,088,003 and accreted the interest over the remaining lives of those Notes. The debt issuance costs were fully amortized by March 31, 2022. On December 30, 2022, the Company exchanged $500,000 of Series A Notes along with its outstanding interest accrual of $121,500 into a new convertible note with the same note holder. The new convertible note has principal of $621,500, stated interest rate of 12% per annum, as well as option to convert outstanding principal and accrued interest at the conversion price, calculated at <span id="xdx_903_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pid_dp_uPure_c20221230__20221230__us-gaap--DebtInstrumentAxis__custom--NewConvertibleNoteMember_z6MerHSeohc7" title="Debt instrument interest rate">75% multiplied by the average of the three lowest closing prices during the previous ten trading days prior to the receipt of the conversion notice. The new convertible note matured on December 30, 2023. During the three and nine months ended December 31, 2023, the Company recognized discount amortization of $17,102 and $49,393, respectively, as accretion and amortization expense. As of December 31, 2023, the discount on Series A convertible notes was fully amortized. During three and nine months ended December 31, 2022, the Company recognized Nil discount amortization as the relevant discounts were fully amortized. As of December 31, 2023, the Company recorded $149,184 of interest accruals for the Series A Notes. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) Series B Convertible Notes During the year ended March 31, 2021, the Company also issued $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDEpAA__" id="xdx_909_eus-gaap--DebtInstrumentFaceAmount_iI_c20210331__us-gaap--DebtInstrumentAxis__custom--SeriesBNotesMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AccreditedInvestorsMember_zzMM2icG42Jk" title="Face amount">1,312,500 (face value) of convertible promissory notes (“Series B Notes”) to various accredited investors. Commencing six months following the issuance date, and at any time thereafter, subject to the Company’s Conversion Buyout clause, at the sole election of the holder, any amount of the outstanding principal and accrued interest of the note (the “outstanding balance”) could be converted into that number of shares of Common Stock equal to: (i) the outstanding balance divided by (ii) the Conversion Price. Partial conversions of the note shall have the effect of lowering the outstanding principal amount of the note. The holder may exercise such conversion right by providing written notice to the Company of such exercise in a form reasonably acceptable to the Company (a “conversion notice”). Conversion price means (subject in all cases to proportionate adjustment for stock splits, stock dividends, and similar transactions), seventy-five percent (75%) multiplied by the average of the three (3) lowest closing prices during the previous ten (10) trading days prior to the receipt of the conversion notice. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDEpAA__" id="xdx_90E_eus-gaap--DebtConversionDescription_c20200401__20210331__us-gaap--DebtInstrumentAxis__custom--SeriesBNotesMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zoVrqMw5iUme">The Series B Notes will automatically convert into common stock upon a merger, consolidation, exchange of shares, recapitalization, reorganization, as a result of which the Company’s common stock shall be changed into another class or classes of stock of the Company or another entity, or in the case of the sale of all or substantially all of the assets of the Company other than a complete liquidation of the Company. Within the first 180 days after the issuance date, the Company may, at its discretion, redeem the notes for 115% of their face value plus accrued interest. The Company is obligated to issue warrants that accompany the convertible notes and provide 50% warrant coverage. The warrants have a <span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDEpAA__" id="xdx_90C_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20210331__us-gaap--DebtInstrumentAxis__custom--SeriesBNotesMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zVvs7mFUY0Ze">3-year term from date of issuance and an exercise price that is $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDEpAA__" id="xdx_901_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20210331__us-gaap--DebtInstrumentAxis__custom--SeriesBNotesMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantOneMember_z8tihDYdBr2b">6.36 per share for <span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDEpAA__" id="xdx_906_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20210331__us-gaap--DebtInstrumentAxis__custom--SeriesBNotesMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantOneMember_zavN1pBjZtSa">100,000 warrant shares and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDEpAA__" id="xdx_90E_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20210331__us-gaap--DebtInstrumentAxis__custom--SeriesBNotesMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantTwoMember_z6n4uZTRIqI1">9.0 per share for <span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDEpAA__" id="xdx_90D_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20210331__us-gaap--DebtInstrumentAxis__custom--SeriesBNotesMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantTwoMember_zVzQLN2vY0Ai">35,417 warrant shares. Net proceeds to the Company from convertible note issuances to March 31, 2021 amounted to $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDEpAA__" id="xdx_909_eus-gaap--ProceedsFromConvertibleDebt_c20200401__20210331__us-gaap--DebtInstrumentAxis__custom--SeriesBNotesMember_zSETsmkJF0K2" title="Convertible note issuances">1,240,000 after the original issuance discount as well as payment of the financing related fees. The Company determined that the conversion and redemption features contained in the Series B Notes represented a single compound derivative liability that meets the requirements for liability classification under ASC 815. The Company accounted for these obligations by determining the fair value of the related derivative liability associated with the embedded conversion and redemption features. The Company recognized debt issuance costs in the amount of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDEpAA__" id="xdx_909_eus-gaap--DeferredFinanceCostsNet_iI_c20220331__us-gaap--DebtInstrumentAxis__custom--SeriesBNotesMember_zcgaZBHgRuh3" title="Debt issuance costs">10,000 and treated these as a deduction from the convertible note liabilities directly, as a contra-liability, and amortized the debt issuance cost over the term of the Series B Notes. The Company recognized initial debt discount in the amount of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDEpAA__" id="xdx_901_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_c20220331__us-gaap--DebtInstrumentAxis__custom--SeriesBNotesMember_zbztJSvr5Imf" title="Initial debt discount">1,312,500 and accreted the interest over the remaining lives of those notes. The debt issuance costs were fully amortized by March 31, 2022. As of December 31, 2023, the Company recorded accrued interest in the amount of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDEpAA__" id="xdx_908_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_c20231231__us-gaap--DebtInstrumentAxis__custom--SeriesBNoteMember_zr6CbZZDvNv4" title="Interest accruals">88,263 related to the Series B Notes. During the three and nine months ended December 31, 2023, the Company redeemed $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDEpAA__" id="xdx_907_ecustom--RedemptionOfConvertibleNotes_c20231001__20231231__us-gaap--DebtInstrumentAxis__custom--SeriesBNoteMember_zYK8VFfOEoJc" title="Redemption of convertible notes">16,667 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDEpAA__" id="xdx_90E_ecustom--RedemptionOfConvertibleNotes_c20230401__20231231__us-gaap--DebtInstrumentAxis__custom--SeriesBNoteMember_zF7vXbo5y1ai" title="Redemption of convertible notes">119,043 of Series B Notes, through a cash payment of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDEpAA__" id="xdx_90A_eus-gaap--RepaymentsOfOtherDebt_c20231001__20231231__us-gaap--DebtInstrumentAxis__custom--SeriesBNoteMember_zZIrLrVJCwA3" title="Payment redeemed cash">20,000 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDEpAA__" id="xdx_90F_eus-gaap--RepaymentsOfOtherDebt_c20230401__20231231__us-gaap--DebtInstrumentAxis__custom--SeriesBNoteMember_zBhYal3nXa89" title="Payment redeemed cash">142,851, respectively. A gain on redemption of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDEpAA__" id="xdx_90F_eus-gaap--GainsLossesOnExtinguishmentOfDebt_c20231001__20231231__us-gaap--DebtInstrumentAxis__custom--SeriesBNoteMember_znDL3AVBtTwg" title="Gains losses on extinguishment of debt">2,149 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDEpAA__" id="xdx_904_eus-gaap--GainsLossesOnExtinguishmentOfDebt_c20230401__20231231__us-gaap--DebtInstrumentAxis__custom--SeriesBNoteMember_zzsxyvzXL1x" title="Gains losses on extinguishment of debt">15,281 was recognized as a result of this redemption, representing the difference between the cash payment and the face value of Series B Notes redeemed net of the related derivative liabilities ($<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDEpAA__" id="xdx_905_eus-gaap--DebtInstrumentFaceAmount_iI_c20231231__us-gaap--DebtInstrumentAxis__custom--SeriesBNoteMember_z1AZtSSpOH29" title="Face value">5,482 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDEpAA__" id="xdx_908_eus-gaap--DerivativeLiabilities_iI_c20231231__us-gaap--DebtInstrumentAxis__custom--SeriesBNoteMember_zRT2uiBrAuPd" title="Derivative liabilities">39,089 for the three and nine months ended December 31, 2023, respectively). In total, as at December 31, 2023, the Company had $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDEpAA__" id="xdx_901_ecustom--ConvertibleNotesPayableRemaining_iI_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zS9DPGa7RtLl" title="Convertible notes payable remaining">200,000 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDEpAA__" id="xdx_908_ecustom--ConvertibleNotesPayableRemaining_iI_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zm0gKSOhVE42" title="Convertible notes payable remaining">38,677 for Series A Notes and Series B Notes remaining outstanding beyond their contractual maturity date. These continued to accrue interest, and no repayment demand notification was received from noteholders, notwithstanding the fact that these noteholders have continued to convert portions of these notes subsequently; and it is management’s expectation that all of these notes will eventually convert. In connection with the foregoing, the Company relied upon the exemption from registration provided by Section 4(a)(2) under the Securities Act of 1933, as amended, for transactions not involving a public offering. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) Series C Convertible Notes During the three months ended June 30, 2023, the Company issued $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDIpAA__" id="xdx_90B_eus-gaap--ProceedsFromIssuanceOfDebt_c20230401__20230630__us-gaap--DebtInstrumentAxis__custom--SeriesCNotesMember_zRaGazr8x8D2" title="Issuance of debt">1,017,700 (face value) in convertible promissory notes (the “Series C Notes”), in addition to $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDIpAA__" id="xdx_904_eus-gaap--DebtInstrumentFaceAmount_iI_c20230331__us-gaap--DebtInstrumentAxis__custom--SeriesCNotesMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AccreditedInvestorsMember_z28DhuJuysAd" title="Face amount">590,000 (face value) of such convertible promissory notes issued during the three months ended March 31, 2023 During the three months ended September 30, 2023, the Company issued additional Series C Notes in the amount of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDIpAA__" id="xdx_904_eus-gaap--ProceedsFromIssuanceOfDebt_c20230701__20230930__us-gaap--DebtInstrumentAxis__custom--SeriesCNotesMember_zo54vCwIUlud" title="Issuance of debt">205,000 (face value), which are convertible promissory notes sold under subscription agreements to accredited investors. The Notes mature one year from the final closing date of the offering and accrue interest at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDIpAA__" id="xdx_90A_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20230930__us-gaap--DebtInstrumentAxis__custom--SeriesCNotesMember_zO8pJHaUMBO4" title="Accrue interest">15% per annum. In total, $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDIpAA__" id="xdx_90E_eus-gaap--DebtInstrumentFaceAmount_iI_c20231231__us-gaap--DebtInstrumentAxis__custom--SeriesCNotesMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AccreditedInvestorsMember_zpFGrc5W9JWa" title="Face amount">1,812,700 (face value) of Series C Notes were issued up to December 31, 2023. The Series C Notes were sold under subscription agreements to accredited investors. The Notes mature one year from the final closing date of the offering and accrue interest at<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDIpAA__" id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20230930__us-gaap--DebtInstrumentAxis__custom--SeriesCNotesMember_zeZc9Ekh8dYk" title="Accrue interest"> 15% per annum. For Series C Notes, commencing six months following the Issuance Date, and at any time thereafter, at the sole election of the Holder, any amount of the outstanding principal and accrued interest of this note (the “Conversion Amount”) could be converted into that number of shares of Common Stock equal to: the Conversion Amount divided by the “Optional Conversion Price”, which is defined as lower of<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDIpAA__" id="xdx_90B_eus-gaap--DebtInstrumentConvertibleTermsOfConversionFeature_c20230401__20230930__us-gaap--DebtInstrumentAxis__custom--SeriesCNotesMember_z0sT2KNw0896" title="Description of conversion terms for debt instrument"> (i) seventy-five percent (75%) of the VWAP for the five (5) Trading Days prior to the Conversion Date, or (ii) eighty percent (80%) of the gross sale price per share of Common Stock (or conversion or exercise price per share of Common Stock of any Common Stock Equivalents) sold in a Qualified Financing. For Series C Notes, “Mandatory Conversion” of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDIpAA__" id="xdx_903_eus-gaap--DebtConversionDescription_c20230401__20230930__us-gaap--DebtInstrumentAxis__custom--SeriesCNotesMember_zacSfyHubG84" title="Debt conversion description">the notes would convert into common stock at the applicable “Mandatory Conversion Price”, if either (i) on each of any twenty (20) consecutive Trading Days (the “Measurement Period”) (A) the closing price of the Common Stock on the applicable Trading Market is at least $18.00 per share and (B) the dollar value of average daily trades of the Common Stock on the applicable Trading Market is at least $400,000 per Trading Day; or (ii) upon the closing of a Qualified Financing, provided that the dollar value of average daily trades of the Common Stock on the applicable National Exchange on each of the ten (10) consecutive Trading Days following such closing is at least $400,000 per Trading Day. Mandatory Conversion Price means, in the case of a Mandatory Conversion under situation (i) above, seventy percent (70%) of the VWAP over the Measurement Period, or in the case of a Mandatory Conversion under situation (ii) above, eighty percent (80%) of the gross sale price per share of Common Stock (or conversion or exercise price per share of Common Stock of any Common Stock Equivalents) sold in a Qualified Financing. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDIpAA__" id="xdx_905_ecustom--PlacementAgentFeesDescription_c20230401__20231231__us-gaap--DebtInstrumentAxis__custom--SeriesCNotesMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zqI4kDv6Esnf" title="Placement agent fees description">The Company was obligated to issue warrants that accompany the convertible notes and provide 100% warrant coverage. The warrants have a 4-year term from date of issuance and an exercise price that is 200% of the 5-day volume weighted average price of the Company’s common shares at the time of final closing. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDIpAA__" id="xdx_90A_ecustom--PlacementAgentFeesDescription_c20230401__20231231__srt--TitleOfIndividualAxis__custom--PlacementAgentMember__us-gaap--DebtInstrumentAxis__custom--SeriesCNotesMember_z0e0OYL4gT2g" title="Placement agent fees description">The Company was obligated to pay the placement agent of the first series of Series C Notes a 10% cash fee for the face value of the notes. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDIpAA__" id="xdx_90A_ecustom--PlacementAgentFeesDescription_c20230401__20230930__srt--TitleOfIndividualAxis__custom--PlacementAgentMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--DebtInstrumentAxis__custom--SeriesCNotesMember_zYxdGycrV2hc" title="Placement agent fees description">The Company was also obligated to issue warrants to the placement agent that have a 10-year term and cover 8% of face value of the notes, with an exercise price that equals to the 5-day volume weighted average price of the Company’s common shares at the time final closing. Net proceeds to the Company from Series C Notes issuance during the nine months ended December 31, 2023 amounted to $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDIpAA__" id="xdx_90A_eus-gaap--ProceedsFromConvertibleDebt_c20230401__20231231__us-gaap--DebtInstrumentAxis__custom--SeriesCNotesMember_zti8WhbOmtCb" title="Proceeds from convertible debt">1,100,430 after payment of the relevant financing related fees. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) Prior to the final closing date (October 23, 2023), the Company determined that the conversion features contained in those Note, as well as the obligations to issue investor warrants and placement agent warrants represented a single compound derivative liability that meets the requirements for liability classification under ASC 815. The Company accounted for these obligations by determining the fair value of the related derivative liabilities associated with the embedded conversion features, as well as the obligations related to investor warrant and placement agent warrant issuance. Subsequently, the exercise price of all warrants was concluded and locked to $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDIpAA__" id="xdx_90A_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20231023__us-gaap--DebtInstrumentAxis__custom--SeriesCNotesMember__us-gaap--SubsidiarySaleOfStockAxis__custom--NoteHoldersMember_zvOoOpEHiIef" title="Exercise price">4.18 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDIpAA__" id="xdx_905_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20231023__us-gaap--DebtInstrumentAxis__custom--SeriesCNotesMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PlacementAgentsWarrantsMember_zoOjc5njOMp" title="Exercise price">2.09, respectively, for the note holder and placement agent warrants, as of the final closing date October 23, 2023. Since the exercise price was no longer a variable, the Company concluded that the noteholder and placement agent warrants should no longer be accounted for as a derivative liability in accordance with ASC 815 guidelines related to equity indexation and classification. The derivative liabilities related to those warrants were therefore marked to market as of October 23, 2023 and then transferred to equity (collectively, “End of warrants derivative treatment”). For the Series C Notes, the Company recognized debt issuance costs of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDIpAA__" id="xdx_900_eus-gaap--PaymentsOfDebtIssuanceCosts_dxL_c20231001__20231231__us-gaap--DebtInstrumentAxis__custom--SeriesCNotesMember_z2nvnaz9f0el" title="Debt issuance costs::XDX::-">Nil and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDIpAA__" id="xdx_901_eus-gaap--PaymentsOfDebtIssuanceCosts_c20230401__20231231__us-gaap--DebtInstrumentAxis__custom--SeriesCNotesMember_z6iZEJXcBS23" title="Debt issuance costs">207,361 during the three and nine months ended December 31, 2023 and treated these as debt discounts. The Company also recognized additional debt discount in the amount of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDIpAA__" id="xdx_90B_ecustom--DebtInstrumentDerivativeLiabilities_dxL_c20231001__20231231__us-gaap--DebtInstrumentAxis__custom--SeriesCNotesMember_zzXZoMRIcpdk" title="Debt instrument derivative liabilities::XDX::-">Nil and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDIpAA__" id="xdx_90C_ecustom--DebtInstrumentDerivativeLiabilities_c20230401__20231231__us-gaap--DebtInstrumentAxis__custom--SeriesCNotesMember_zI5Sn7rcYp1e" title="Debt instrument derivative liabilities">1,005,829 in connection with the recognition of derivative liabilities for the conversion features, investor warrants and placement agent warrants. The debt discounts are recorded as a contra liability against the convertible note and are amortized and recognized as accretion expenses using the effective interest method over the remaining lives of the Notes. Since total debt discount amount cannot exceed total gross proceeds upon issuance, the Company recognized accretion expenses up front of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDIpAA__" id="xdx_906_eus-gaap--AccretionExpense_dxL_c20231001__20231231_zEc7VbATnd71" title="Accretion expense::XDX::-">Nil and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDIpAA__" id="xdx_906_eus-gaap--AccretionExpense_c20230401__20231231_z9IQw04rA9K6" title="Accretion expense">134,013 during the three and nine months ended December 31, 2023. During the three and nine months ended December 31, 2023, the Company recognized discount amortization of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDIpAA__" id="xdx_908_eus-gaap--AdjustmentForAmortization_c20231001__20231231__us-gaap--DebtInstrumentAxis__custom--SeriesCNotesMember_zi1wegiYOos8" title="Adjustment for amortization">139,568 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDIpAA__" id="xdx_90A_eus-gaap--AdjustmentForAmortization_c20230401__20231231__us-gaap--DebtInstrumentAxis__custom--SeriesCNotesMember_zzesUL915XO3" title="Adjustment for amortization">320,434, respectively, on Series C Notes as accretion and amortization expense. As of December 31, 2023, the remaining unamortized discount on Series C convertible notes was $ <span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDIpAA__" id="xdx_906_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_c20231231__us-gaap--DebtInstrumentAxis__custom--SeriesCNotesMember_z71IExUQuwpa" title="Debt instrument unamortized discount">1,471,345. As of December 31, 2023, the Company recorded accrued interest in the amount of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDIpAA__" id="xdx_90B_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_za5kmdjKepRf" title="Interest payable">184,911 related to the Series C Notes. Convertible Preferred Notes The Company entered into a convertible preferred note financing on September 25, 2023 and issued a convertible note (“Preferred Note”) for a principal amount of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_90A_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20230925__us-gaap--AwardTypeAxis__custom--EighteenMonthAnniversaryMember_zraqzMkGaEhd" title="Principal amount">1.0 million. The Preferred Note matures on the eighteen (18) month anniversary of the issuance date, or if there be more than one closing pursuant to a qualified offering as defined in the financing agreement, the eighteen (18) month anniversary of the last closing date of the offering (the “Maturity Date”). The Preferred Note bears interest at a fixed rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20230925__us-gaap--AwardTypeAxis__custom--EighteenMonthAnniversaryMember_z49LbOifkqqi" title="Interest rate">12% which is payable in cash monthly. The Company also entered into a convertible preferred note financing on October 25, 2023 and issued a convertible note (“Preferred Note”) for a principal amount of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_904_eus-gaap--DebtConversionConvertedInstrumentAmount1_c20231025__20231025_zBMq1JS2Ll9d" title="Debt converted amount">250,000. The Preferred Note matures on the eighteen (18) month anniversary of the issuance date, or if there be more than one closing pursuant to a qualified offering as defined in the financing agreement, the eighteen (18) month anniversary of the last closing date of the offering (the “Maturity Date”). The Preferred Note bears interest at a fixed rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20230925__us-gaap--AwardTypeAxis__custom--EighteenMonthAnniversaryMember_zpvuX6WEbpOg" title="Interest rate">12% which is payable in cash monthly. The conversion of the Preferred Notes is automatic upon a Qualified Financing which is in the control of the Company, or at maturity of the notes, upon mutual agreement by the noteholder and the Company. Since the conversion is not in control of the holder of the note, the Company did not recognize a derivative liability in connection with the conversion option of the Other Convertible Notes. The Company may prepay the Preferred Note in whole or in part, after providing fifteen (15) days written notice to the holder, either in cash or by the mutually consented conversion of the Preferred Note and any accrued interest thereon at a <span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20230925__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zD1Ak1q242L3" title="Interest rate">15% discount to the stock’s 10-day VWAP. As of December 31, 2023, the Company recorded accrued interest in the amount of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_90B_eus-gaap--ProceedsFromIssuanceOfConvertiblePreferredStock_c20230401__20231231_z5SaHghLZpPk" title="Convertible note issuances">36,460 related to the Preferred Notes. Other Convertible Preferred Notes On January 23, 2023, the Company issued $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_902_eus-gaap--ConvertibleNotesPayable_iI_c20230123__us-gaap--ShortTermDebtTypeAxis__custom--OtherConvertibleNotesPayableMember_z1DR4IRGhLW4" title="Convertible notes payable">2,000,000 (face value) in convertible preferred notes (“the Notes”) to an accredited investor. The Notes mature 18 months from the issuance date. This note bears interest rate at a fixed rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_901_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20230123__us-gaap--ShortTermDebtTypeAxis__custom--OtherConvertibleNotesPayableMember_zaYBfQl0xuG6" title="Debt instrument interest rate stated percentage">10% in the form of stock with a striker price equal to the closing stock price on the note issuance date. Therefore, the Company issued <span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_90E_ecustom--StockIssuedDuringPeriodSharesIssuanceOfSharesInLieuOfConvertibleNoteInterest_c20230122__20230123__us-gaap--ShortTermDebtTypeAxis__custom--OtherConvertibleNotesPayableMember_z60SzpXhZIOa" title="Convertible notes payable">45,045 units of common stock in lieu of interest on this convertible note. These stocks were valued at $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_90D_ecustom--StockIssuedDuringPeriodValueIssuanceOfSharesInLieuOfConvertibleNoteInterest_c20230122__20230123__us-gaap--ShortTermDebtTypeAxis__custom--OtherConvertibleNotesPayableMember_zpY1T7CVFuOj" title="Convertible notes payable">221,621 and was recognized as a deferred cost on the convertible note, recorded as a contra liability against the convertible note, and was amortized and recognized as accretion expense using the effective interest rate method over the remaining lives of the Notes. The conversion of the Notes is automatic upon a Qualified Financing which is in the control of the Company, or at maturity of the notes, upon mutual agreement by the noteholder and the Company. Since the conversion is not in control of the holder of the note, the Company did not recognize a derivative liability in connection with the conversion option of the Notes. During the three and nine months ended December 31, 2023, the Company recognized discount amortization of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_900_eus-gaap--AdjustmentForAmortization_c20231001__20231231__us-gaap--ShortTermDebtTypeAxis__us-gaap--NotesPayableOtherPayablesMember_zN1k4M9PseCb" title="Amortized discount">55,861 and $166,975, respectively, for the Notes, as part of the accretion and amortization expenses. As of December 31, 2023, the remaining unamortized discount on Notes was $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_901_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_c20231231__us-gaap--ShortTermDebtTypeAxis__us-gaap--NotesPayableOtherPayablesMember_zw7owuZYRqa3" title="Debt instrument unamortized discount">19,428. Other Short-Term Loans, Promissory Notes and Financing Facilities In December 2022, the Company entered into a short-term bridge loan agreement with a collateralized merchant finance company that advanced gross proceeds of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_905_eus-gaap--ProceedsFromShortTermDebt_c20221201__20221231__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember_z4j5u9KdEE0f" title="Gross proceeds">400,000, prior to the deduction of issuance costs in the amount of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_909_eus-gaap--DeferredFinanceCostsNet_iI_c20221231__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember_z4eLyRJBlBvf" title="Deferred finance costs">9,999. The issuance costs were recognized as a debt discount and amortized via the effective interest method. The term of the finance agreement is <span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_907_eus-gaap--DebtInstrumentTerm_dtW_c20221201__20221231__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember_zc7X4amGIfi7" title="Debt instrument term">40 weeks. The Company is required to make weekly payments of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_907_eus-gaap--DebtInstrumentPeriodicPayment_c20221201__20221231__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember_zwHm8N7ELfC2" title="Debt instrument periodic payment">13,995 ($<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_908_eus-gaap--DebtInstrumentCarryingAmount_iI_c20221231__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember_zeRKAWhxOZyg" title="Debt instrument carrying amount">560,000 in the aggregate). As of December 31, 2023, the principal was fully repaid and discount for this loan was fully amortized. The discount amortization during the three and nine months ended December 31, 2023 was <span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_906_eus-gaap--AdjustmentForAmortization_d0_c20231001__20231231__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember_zfIl95AXQJQe" title="Adjustment for amortization">nil and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_908_eus-gaap--AdjustmentForAmortization_c20230401__20231231__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember_z7p1CgyuV136" title="Adjustment for amortization">6,142, respectively, and was recognized as part of the accretion and amortization expenses. In addition, the Company recognized $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_90E_eus-gaap--AccretionExpense_d0_c20231001__20231231__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember_zm0sTQznAjOa" title="Accretion expense">Nil and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_90B_eus-gaap--AccretionExpense_c20230401__20231231__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember_zmGDXXtdWJ5e" title="Accretion expense">66,213 accretion expenses, during the three and nine months ended December 31, 2023, related to the increase in present value of the loan over its term. In December 2022, the Company also entered into a short-term collateralized bridge loan agreement with a finance company that advanced gross proceeds of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_90A_eus-gaap--ProceedsFromShortTermDebt_c20221201__20221231__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zWTFkoSEA8F" title="Gross proceeds">800,000, prior to the deduction of issuance costs in the amount of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_90B_eus-gaap--DeferredFinanceCostsNet_iI_c20221231__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zhQBEBqe25Qg" title="Deferred finance costs">32,000. The issuance costs were recognized as a debt discount and amortized via the effective interest method. The term of this second agreement is 40 weeks. The Company is required to make weekly payments of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_903_eus-gaap--DebtInstrumentPeriodicPayment_c20221201__20221231__us-gaap--DebtInstrumentAxis__custom--ShortTermCollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zYZBTZAkKzv6" title="Debt instrument payments">29,556 ($<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_908_eus-gaap--DebtInstrumentPeriodicPayment_c20221201__20221231__us-gaap--DebtInstrumentAxis__custom--ShortTermCollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember__us-gaap--AwardDateAxis__custom--FirstFourWeeksMember_zyhWy3OhQ7Jh" title="Debt instrument payments">13,999 for the first four weeks, and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_906_eus-gaap--DebtInstrumentCarryingAmount_iI_c20221231__us-gaap--DebtInstrumentAxis__custom--ShortTermCollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zxp4Sr3dnTY" title="Debt instrument carrying value">1,120,000 in the aggregate). As of December 31, 2023, the principal was fully repaid and discount for this loan was fully amortized. The discount amortization during the three and nine months ended December 31, 2023 was $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_904_eus-gaap--AdjustmentForAmortization_c20231001__20231231__us-gaap--DebtInstrumentAxis__custom--ShortTermCollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zhAoxGOmslPg" title="Adjustment for amortization">800 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_90D_eus-gaap--AdjustmentForAmortization_c20230401__20231231__us-gaap--DebtInstrumentAxis__custom--ShortTermCollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zEKQKm1JdEpi" title="Adjustment for amortization">11,200, respectively, which was recognized as part of the accretion and amortization expenses. In addition, the Company recognized $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_902_eus-gaap--AccretionExpense_d0_c20231001__20231231__us-gaap--DebtInstrumentAxis__custom--ShortTermCollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zrWYFn95gkx" title="Accretion expense">481 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDMpAA__" id="xdx_90E_eus-gaap--AccretionExpense_c20230401__20231231__us-gaap--DebtInstrumentAxis__custom--ShortTermCollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_z8sue3jdY976" title="Accretion expense">150,760 accretion expenses, during the three and nine months ended December 31, 2023, related to the increase in present value of the loan over its term. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) In December 2022, the Company entered into a promissory note agreement with an individual investor that resulted in gross proceeds of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_904_eus-gaap--DebtInstrumentCarryingAmount_iI_c20221231__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteAgreementMember__dei--LegalEntityAxis__custom--IndividualInvestorMember_zo9I9VxDOb8h" title="Debt instrument carrying amount">600,000 (the “Principal Amount”). The note has a fixed rate of interest at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_90E_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pid_dp_uPure_c20221201__20221231__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteAgreementMember__dei--LegalEntityAxis__custom--IndividualInvestorMember_zZzgdX5Ir1Bg" title="Debt instrument interest rate during period">25% per annum payable monthly on the first day of every month. This promissory note matured on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_906_eus-gaap--DebtInstrumentMaturityDate_c20221201__20221231__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteAgreementMember__dei--LegalEntityAxis__custom--IndividualInvestorMember_zAgul30CrGQf" title="Maturity date">December 15, 2023, when the Principal Amount became due. The note has various default provisions which would, if triggered, result in the acceleration of the Principal Amount plus any accrued and unpaid interest. The note also has a<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_909_ecustom--EarlyPaymentPenaltyProvisionPercentage_dp_uPure_c20221201__20221231__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteAgreementMember__dei--LegalEntityAxis__custom--IndividualInvestorMember_zdiL4ZKpQ4k" title="Early payment penalty provision percentage"> 3% early payment penalty provision. As of December 31, 2023, the amount of principal outstanding on the note was $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_90E_eus-gaap--DebtInstrumentCarryingAmount_iI_c20231231__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteAgreementMember__dei--LegalEntityAxis__custom--IndividualInvestorMember_zySp53pDLuui" title="Debt instrument carrying amount">600,000, and accrued interest outstanding on the note was $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_904_eus-gaap--InterestAndDebtExpense_c20230401__20231231__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteAgreementMember__dei--LegalEntityAxis__custom--IndividualInvestorMember_zwkDowJSI6N6" title="Debt instrument interest and debt expense">12,825. The note continues to accrue interest, and no repayment demand notification was received from noteholder. On December 30, 2022, the Company extinguished <span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_903_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_c20221230__srt--TitleOfIndividualAxis__custom--SeriesAConvertibleNoteHoldersMember_zhuf3frYvAk7">51,101 warrants that were originally issued to Series A Convertible Noteholders and replaced these warrants with a new promissory note issued to the same warrant holder. The new promissory note has principal balance of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_904_eus-gaap--DebtInstrumentFaceAmount_iI_c20221230__us-gaap--DebtInstrumentAxis__custom--NewPromissoryNoteMember_z1wCTcSmpZU7" title="Debt face amount">270,000, stated interest of zero, and maturity date of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_903_eus-gaap--DebtInstrumentMaturityDate_c20221229__20221229__us-gaap--DebtInstrumentAxis__custom--NewPromissoryNoteMember_zmJmddNMVlJg">December 31, 2023. The fair value of this new promissory note was $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_906_eus-gaap--DebtInstrumentFairValue_iI_c20221230__us-gaap--DebtInstrumentAxis__custom--NewPromissoryNoteMember_ztMuUoc2m1Kd" title="Debt instrument, fair value disclosure">248,479 as of the issuance date, which was calculated using a discount rate that was comparable to other loan issuance at the same time as well as the market bond rates at the time of the promissory note issuance. The difference between the fair value of the new note and its principal balance was $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_908_ecustom--AdjustmentCarryingValueAndPrincipalAmount_iI_c20221230__us-gaap--DebtInstrumentAxis__custom--NewPromissoryNoteMember_zM2VZwP8hRre" title="Adjustment carrying value and principal amount">21,521, and was recognized as a discount, and amortized via effective interest rate method. The Company compared the fair value of the extinguished warrants immediately prior to extinguishment against the fair value of the new promissory note issued. As of December 31, 2023, the obligation to repay the principal balance was waived and amount of principal outstanding on the note was $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_906_eus-gaap--DebtInstrumentCarryingAmount_iI_c20231231__us-gaap--DebtInstrumentAxis__custom--NewPromissoryNoteMember_zBpWQtNL2Yg5">270,000, and the remaining unamortized discount was $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_90E_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_dxL_c20231231__us-gaap--DebtInstrumentAxis__custom--NewPromissoryNoteMember_zfnFyI0YnsL1" title="::XDX::-">Nil. During the three and nine months ended December 31, 2023, the Company recognized $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_90A_eus-gaap--AdjustmentForAmortization_dxL_c20231001__20231231__us-gaap--DebtInstrumentAxis__custom--NewPromissoryNoteMember_z4FDFQUdTMNb" title="Adjustment for amortization::XDX::-">Nil and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_90C_eus-gaap--AdjustmentForAmortization_c20230401__20231231__us-gaap--DebtInstrumentAxis__custom--NewPromissoryNoteMember_zaJi9AeHysp1" title="Adjustment for amortization">7,304, respectively, amortization of discount on this promissory note as accretion and amortization expenses. On March 29, 2023, the Company entered into an additional collateralized bridge loan agreement with a finance company that advanced gross proceeds of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_90C_eus-gaap--ProceedsFromShortTermDebt_c20230329__20230329__us-gaap--DebtInstrumentAxis__custom--CollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zc2BKBVjKVVl" title="Gross proceeds">300,000, prior to the deduction of issuance costs in the amount of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_90D_eus-gaap--DeferredFinanceCostsNet_iI_c20230329__us-gaap--DebtInstrumentAxis__custom--CollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zliyXYOTZoR8" title="Deferred finance costs">12,000. The issuance costs were recognized as a debt discount and would be amortized via the effective interest method. The term of this agreement is 40 weeks. The Company is required to make weekly payments of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_90F_eus-gaap--DebtInstrumentPeriodicPayment_c20230329__20230329__us-gaap--DebtInstrumentAxis__custom--CollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember__us-gaap--AwardDateAxis__custom--FirstFourWeeksMember_zWihon9RhKme" title="Debt instrument periodic payment">5,250 for the first four weeks, and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_90B_eus-gaap--DebtInstrumentPeriodicPayment_c20230329__20230329__us-gaap--DebtInstrumentAxis__custom--CollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember__us-gaap--AwardDateAxis__custom--RemainingThirtySixWeeksMember_z2o1dKpnoIbl" title="Debt instrument periodic payment">11,083 for the remaining 36 weeks, which is $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_906_eus-gaap--DebtInstrumentCarryingAmount_iI_c20230329__us-gaap--DebtInstrumentAxis__custom--CollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zR3FarkpvxB5" title="Long-term debt, gross">420,000 in aggregate. On July 18, 2023, the Company entered into an amendment with the finance company and increased total proceeds borrowed to $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_901_eus-gaap--ProceedsFromShortTermDebt_c20230718__20230718__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--AdditionalCollateralizedBridgeLoanAgreementMember_z5w3c2HtCOkk" title="Gross proceeds">700,000. The proceeds from the amended loan balance were netted against previously outstanding balance of the loan, along with an issuance cost in the amount of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_901_eus-gaap--DeferredFinanceCostsNet_iI_c20230718__us-gaap--DebtInstrumentAxis__custom--SeriesANotesMember__dei--LegalEntityAxis__custom--AdditionalCollateralizedBridgeLoanAgreementMember_z8M4cXzIXIwg" title="Debt issuance costs in the amount">28,000. The term of this new loan agreement is 40 weeks. The Company is required to make weekly payments of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_903_eus-gaap--DebtInstrumentPeriodicPayment_c20230718__20230718__us-gaap--DebtInstrumentAxis__custom--AdditionalCollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zal7vVdGwgnh" title="Debt instrument periodic payment">24,500, which is $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_906_eus-gaap--DebtInstrumentCarryingAmount_iI_c20230718__us-gaap--DebtInstrumentAxis__custom--AdditionalCollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zYkitkMCWXKl" title="Long-term debt, gross">980,000 in aggregate. The Company accounted for this amendment as a debt extinguishment and recognized a loss on the amendment of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_90E_ecustom--LossOnDebtAmendment_iI_c20230718__us-gaap--DebtInstrumentAxis__custom--AdditionalCollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zDeffuIKfqT" title="Loss on amendment of debt">59,161 in other expenses. The issuance costs on the amended loan were recognized as a debt discount and would be amortized via the effective interest method. As of December 31, 2023, the amount of principal outstanding under this amended agreement was $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_90A_eus-gaap--DebtInstrumentCarryingAmount_iI_c20231231__us-gaap--DebtInstrumentAxis__custom--AdditionalCollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zWqICY1mAFHg" title="Debt instrument carrying value">357,445 and the remaining unamortized issuance cost discount was $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_905_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_c20231231__us-gaap--DebtInstrumentAxis__custom--AdditionalCollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zwCJVOZvlC33" title="Unamortized issuance cost discount">11,900. During the three and nine months ended December 31, 2023, the Company recognized $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_90E_eus-gaap--AdjustmentForAmortization_c20231001__20231230__us-gaap--DebtInstrumentAxis__custom--AdditionalCollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zpaElLGT8Y65" title="Adjustment for amortization">9,100 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_901_eus-gaap--AdjustmentForAmortization_c20230401__20231231__us-gaap--DebtInstrumentAxis__custom--AdditionalCollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zK92zUjLClK2" title="Adjustment for amortization">16,100, respectively, of amortization of discount as accretion and amortization expenses. In addition, the Company recognized $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_903_eus-gaap--AccretionExpense_c20231001__20231230__us-gaap--DebtInstrumentAxis__custom--AdditionalCollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zv0BAeZd7WSd" title="Accretion expense">108,245 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_908_eus-gaap--AccretionExpense_c20230401__20231231__us-gaap--DebtInstrumentAxis__custom--AdditionalCollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zrxlgCHonZkk" title="Accretion expense">300,651 accretion expenses, during the three and nine months ended December 31, 2023, related to the increase in present value of the loan over its term. In June 2023, the Company entered into a secured revolving account purchase credit and inventory financing facility (the “Revolving Facility”) with a revolving loan lender, pursuant to which the lender may from time to time purchase certain discrete account receivables from the Company (with full recourse) or may make loans and provide other financial accommodations, the payment of which are guaranteed and secured by certain assets of the Company.<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_90A_eus-gaap--LineOfCreditFacilityRevolvingCreditConversionToTermLoanDescription_c20230601__20230630_ze8boktRFAA8"> In assigning the selling accounts receivables to the revolving loan lender, the Company is receiving 85% of their value as an advance of its regular collection of those receivables, limited to $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_909_eus-gaap--FinancingReceivableRevolvingConvertedToTermLoan_iI_pn5n6_c20230630_zzI5KWMhhoa2">1.2 million in financing, and expects to receive the remaining balance as part of normal collection activities. The inventory financing provided by this facility was limited to the lower of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_900_eus-gaap--LineOfCreditFacilityCapacityAvailableForTradePurchases_iI_pn5n6_c20230630_zDfyhI7M6IN4" title="Line of credit">0.3 million, or a 40% maximum of inventory balances. The Revolving Facility was accounted for as a secured borrowing. As of December 31, 2023, the Company had drawn $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_901_eus-gaap--IncreaseDecreaseInAccountsReceivable_c20231201__20231231_zVrjrmwuGz3c" title="Increase decrease accounts receivable">891,111 in accounts receivable financing and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_906_eus-gaap--LineOfCreditFacilityCapacityAvailableForTradePurchases_iI_c20231231_z9lMbcnLm7li">300,000 in inventory financing with aggregate principal outstanding of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_900_eus-gaap--LineOfCreditFacilityAnnualPrincipalPayment_c20231201__20231231_zTWfhCMdP7tk" title="Line of credit, principal payment">1,191,111. On July 13, 2023, the Company entered into another short-term bridge loan agreement with a collateralized merchant finance company that advanced gross proceeds of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_903_eus-gaap--ProceedsFromShortTermDebt_c20230713__20230713__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember_zV9M6NZosxYc" title="Gross proceeds">400,000, prior to the deduction of issuance costs in the amount of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_902_eus-gaap--DeferredFinanceCostsNet_iI_c20230713__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember_zHLS2cMru05j" title="Deferred finance costs">24,000. The issuance costs were recognized as a debt discount and amortized via the effective interest method. The term of the finance agreement is<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_90B_eus-gaap--DebtInstrumentTerm_dtW_c20230713__20230713__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember_zZ2sS3y8Rfi2" title="Debt instrument term"> 14 weeks. The Company is required to make weekly payments of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_90C_eus-gaap--DebtInstrumentPeriodicPayment_c20230713__20230713__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember_z4jLax9GlXLd" title="Debt instrument periodic payment">38,705 ($<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_90C_eus-gaap--DebtInstrumentCarryingAmount_iI_c20230713__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember_z8fJ8CjLf7kl" title="Debt instrument carrying amount">540,000 in the aggregate). As of December 31, 2023, the principal was fully repaid and discount for this loan was fully amortized. The discount amortization during the three and nine months ended December 31, 2023 was $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_909_eus-gaap--AdjustmentForAmortization_c20231001__20231231__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember_ziPml5yNTojh" title="Adjustment for amortization">5,143 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_90C_eus-gaap--AdjustmentForAmortization_c20230401__20231231__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember_zgr2sm8qVoaa" title="Adjustment for amortization">24,000 respectively and was recognized as part of the accretion and amortization expenses. In addition, the Company recognized $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_900_eus-gaap--AccretionExpense_c20231001__20231231__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember_z0gHltTQ4isd" title="Accretion expense">10,949 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_906_eus-gaap--AccretionExpense_c20230401__20231231__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember_zzdlHpVLHUr3" title="Accretion expense">141,870 accretion expenses during the three and nine months ended December 31, 2023, related to the increase in present value of the loan over its term. On August 11, 2023, the Company issued two short term promissory notes (“August 2023 Notes”), each for a principal amount of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_90F_eus-gaap--DebtInstrumentFaceAmount_iI_c20230811__us-gaap--DebtInstrumentAxis__custom--TwoShortTermPromissoryNotesMember_z9zEwkr8JK32" title="Debt face amount">250,000, to one investor for aggregate gross proceeds of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_90B_eus-gaap--DebtInstrumentCarryingAmount_iI_c20230811__us-gaap--DebtInstrumentAxis__custom--TwoShortTermPromissoryNotesMember__dei--LegalEntityAxis__custom--OneInvestorMember_zKoyY9PHzWR6" title="Debt instrument carrying amount">500,000. The August 2023 Notes do not accrue formal interest, but do contain administrative fees in the aggregate of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_90F_eus-gaap--PaymentForManagementFee_c20230811__20230811__us-gaap--DebtInstrumentAxis__custom--TwoShortTermPromissoryNotesMember_z2bT94bxOJp2" title="Administrative fees">75,000. One of the notes matures three months from the issuance date upon which the principal amount of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_902_eus-gaap--DebtInstrumentFaceAmount_iI_c20231231__us-gaap--DebtInstrumentAxis__custom--TwoShortTermPromissoryNotesMember_zzb2hB9VZVRb" title="Debt face amount">250,000 and an administrative fee of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_901_eus-gaap--AdministrativeFeesExpense_c20231001__20231231__us-gaap--DebtInstrumentAxis__custom--TwoShortTermPromissoryNotesMember_zMj1tGyEZ4Li" title="Administrative fees">25,000 is due. The second note matures six months from the issuance date upon which the principal amount of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_90F_eus-gaap--DebtInstrumentFaceAmount_iI_c20231231__us-gaap--DebtInstrumentAxis__custom--TwoShortTermPromissoryNotesMember_zD0rqo98irGh" title="Debt face amount">250,000 and an administrative fee of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_903_eus-gaap--IncentiveFeeExpense_c20231001__20231231__us-gaap--DebtInstrumentAxis__custom--TwoShortTermPromissoryNotesMember_zRwHYYwtAJz4" title="Administrative fees">50,000 is due. The administrative fees were accrued as interest expenses for the period of the loans outstanding. As of December 31, 2023, the amount of principal outstanding on the note was $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_90B_eus-gaap--DebtInstrumentCarryingAmount_iI_c20231231__us-gaap--DebtInstrumentAxis__custom--TwoShortTermPromissoryNotesMember_zz1VNdi5cDXc" title="Debt outstanding">500,000, and accrued interest outstanding on the note was $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_902_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_c20231231__us-gaap--DebtInstrumentAxis__custom--TwoShortTermPromissoryNotesMember_zLltLHKcVsWk" title="Accrued interest">62,500. On December 8, 2023, the Company entered into a short-term bridge loan agreement with a collateralized merchant finance company that advanced gross proceeds of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_905_eus-gaap--ProceedsFromShortTermDebt_c20231208__20231208__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember_zGfpH070RbJf" title="Gross proceeds">630,000, prior to the deduction of issuance costs in the amount of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_908_eus-gaap--DeferredFinanceCostsNet_iI_c20231208__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember_z5b4zjUsqaFl" title="Deferred finance costs">15,750. The issuance costs were recognized as a debt discount and amortized via the effective interest method. The term of the finance agreement is<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_908_eus-gaap--DebtInstrumentTerm_dtW_c20231208__20231208__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember_z3dPIhkbEGzb" title="Debt instrument term"> 44 weeks. The Company is required to make weekly payments of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_903_eus-gaap--DebtInstrumentPeriodicPayment_c20231208__20231208__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember_z4plbJlkU7Jf" title="Debt instrument periodic payment">19,195 ($<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_90E_eus-gaap--DebtInstrumentCarryingAmount_iI_c20231208__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember_zPPd1SOde8Ia" title="Debt instrument carrying amount">844,200 in the aggregate). As of December 31, 2023, the amount of principal outstanding under this amended agreement was $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_905_eus-gaap--DebtInstrumentCarryingAmount_iI_c20231208__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zz1SHeSgkTWa" title="Debt instrument carrying value">598,014 and the remaining unamortized issuance cost discount was $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_900_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_c20231208__us-gaap--DebtInstrumentAxis__custom--AdditionalCollateralizedBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--FinanceCompanyMember_zXJcFKcgbz3d" title="Unamortized issuance cost discount">14,676. During the three and nine months ended December 31, 2023, the Company recognized $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_900_eus-gaap--AdjustmentForAmortization_c20231001__20231231__us-gaap--DebtInstrumentAxis__custom--AdditionalCollateralizedBridgeLoanAgreementMember_z4py3QSVuTu5" title="Adjustment for amortization">1,074 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_908_eus-gaap--AdjustmentForAmortization_c20230401__20231231__us-gaap--DebtInstrumentAxis__custom--AdditionalCollateralizedBridgeLoanAgreementMember_zmxPaIhew9Ke" title="Adjustment for amortization">1,074, respectively, of amortization of discount as accretion and amortization expenses. In addition, the Company recognized $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_904_eus-gaap--AccretionExpense_c20231001__20231231__us-gaap--DebtInstrumentAxis__custom--AdditionalCollateralizedBridgeLoanAgreementMember_zXnXMfnTjbUg" title="Accretion expense">25,599 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_909_eus-gaap--AccretionExpense_c20230401__20231231__us-gaap--DebtInstrumentAxis__custom--AdditionalCollateralizedBridgeLoanAgreementMember_zoimkV90TBj3" title="Accretion Expense">25,599 accretion expenses during the three and nine months ended December 31, 2023, related to the increase in present value of the loan over its term. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) Total interest expense on the above convertible notes, short-term loan and promissory notes was $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_901_eus-gaap--ConvertibleDebt_iI_c20231231_zkNtcqb7IL1" title="Convertible debt">284,898 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_90C_eus-gaap--ConvertibleDebt_iI_c20221231_zeGiVahYDhd7" title="Convertible debt">69,930 for the three months ended December 31, 2023 and 2022, respectively, and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_908_eus-gaap--InterestExpenseDebt_c20230401__20231231_zUnqtzTzGMC4" title="Interest expense">689,493 and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_90B_eus-gaap--InterestExpenseDebt_c20220401__20221231_zj9iP9xf7qr5" title="Interest expense">126,574 during the nine months ended December 31, 2023 and 2022, respectively. Total accretion expenses on the above convertible notes, short-term loan and promissory notes were $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_90E_eus-gaap--AssetRetirementObligationAccretionExpense_c20231001__20231231__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember_zacl8yJoNcPi" title="Accretion expense">370,755 and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_909_eus-gaap--AssetRetirementObligationAccretionExpense_d0_c20221001__20221231__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember_zV0ADMdTzdE5" title="Accretion expense">Nil for the three months ended December 31, 2023 and 2022, respectively, and $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_902_eus-gaap--AssetRetirementObligationAccretionExpense_c20230401__20231231__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember_zc3X1HDMtLu3" title="Accretion expense">1,421,729 and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIENPTlZFUlRJQkxFIFBST01JU1NPUlkgTk9URVMgQU5EIFNIT1JUIFRFUk0gTE9BTlMgKERldGFpbHMgTmFycmF0aXZlIDQpAA__" id="xdx_902_eus-gaap--AssetRetirementObligationAccretionExpense_d0_c20220401__20221231__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember_zY4rZrhhJsrj" title="Accretion expense">Nil during the nine months ended December 31, 2023 and 2022, respectively.

11275500

0.12

(i) the Outstanding Balance divided by (ii) 75% of the volume weighted average price of the Common Stock for the 5 trading days prior to the Conversion Date (the conversion price).

the notes would automatically convert into common stock (in each case, subject to the trading volume of the Company’s common stock being a minimum of $500,000 for each trading day in the 20 consecutive trading days immediately preceding the conversion date), upon the earlier to occur of (i) the Company’s common stock being listed on a national securities exchange, in which event the conversion price would be equal to 75% of the volume weighted average price of the common stock for the 20 trading days prior to the conversion date, or (ii) upon the closing of the Company’s next equity round of financing for gross proceeds of greater than $5,000,000, in which event the conversion price would be equal to 75% of the price per share of the common stock (or of the conversion price in the event of the sale of securities convertible into common stock) sold in such financing. The Company could, at its discretion, redeem the notes for 115% of their face value plus accrued interest

24.00

75% of the volume weighted average price of the common stock for the five trading days prior to the conversion date

the notes would automatically convert into common stock (in each case, subject to the trading volume of the Company’s common stock being a minimum of $500,000 for each trading day in the 20 consecutive trading days immediately preceding the conversion date), upon the earlier to occur of (i) the Company’s common stock being listed on a national securities exchange, in which event the conversion price would be equal to the lower of $24.00 per share or 75% of the volume weighted average price of the common stock for the 20 trading days prior to the conversion date, or (ii) upon the closing of the Company’s next equity round of financing for gross proceeds of greater than $5,000,000, in which event the conversion price would be equal to the lower of $24.00 per share or 75% of the price per share of the common stock (or of the conversion price in the event of the sale of securities convertible into common stock) sold in such financing. The Company could, at its discretion, redeem the notes for 115% of their face value plus accrued interest

The Company was obligated to issue warrants that accompany the convertible notes and provide 50% warrant coverage. The warrants have a 3-year term from date of issuance and an exercise price that is 120% of the 20-day volume weighted average price of the Company’s common shares at the time final closing The Company was obligated to pay the placement agent of the first series of Series A Notes a 12% cash fee for $8,925,500 (face value) of the notes and 2.5% cash fee and other sundry expenses for the remaining $2,350,000 (face value) of the notes. The Company was also obligated to issue warrants to the placement agent that have a 10-year term and cover 12% of funds raised for $8,925,550 (face value) of the notes (first series) and 2.5% of funds raised for the remaining $2,350,000 (face value) of notes (second series), with an exercise price that is 120% of the 20-day volume weighted average price of the Company’s common shares at the time final closing. On final closing, which occurred on January 8, 2021, the warrants’ exercise price was struck at $6.36 per share.

2301854

8088003

500000

121500

621500

0.12

0.75

17102

49393

149184

1312500

The Series B Notes will automatically convert into common stock upon a merger, consolidation, exchange of shares, recapitalization, reorganization, as a result of which the Company’s common stock shall be changed into another class or classes of stock of the Company or another entity, or in the case of the sale of all or substantially all of the assets of the Company other than a complete liquidation of the Company. Within the first 180 days after the issuance date, the Company may, at its discretion, redeem the notes for 115% of their face value plus accrued interest. The Company is obligated to issue warrants that accompany the convertible notes and provide 50% warrant coverage.

P3Y

6.36

100000

9.0

35417

1240000

10000

1312500

88263

16667 119043

20000

142851

2149

15281

5482

39089

200000 38677

1017700

590000

205000

0.15

1812700

0.15

the notes would convert into common stock at the applicable “Mandatory Conversion Price”, if either (i) on each of any twenty (20) consecutive Trading Days (the “Measurement Period”) (A) the closing price of the Common Stock on the applicable Trading Market is at least $18.00 per share and (B) the dollar value of average daily trades of the Common Stock on the applicable Trading Market is at least $400,000 per Trading Day; or (ii) upon the closing of a Qualified Financing, provided that the dollar value of average daily trades of the Common Stock on the applicable National Exchange on each of the ten (10) consecutive Trading Days following such closing is at least $400,000 per Trading Day. Mandatory Conversion Price means, in the case of a Mandatory Conversion under situation (i) above, seventy percent (70%) of the VWAP over the Measurement Period, or in the case of a Mandatory Conversion under situation (ii) above, eighty percent (80%) of the gross sale price per share of Common Stock (or conversion or exercise price per share of Common Stock of any Common Stock Equivalents) sold in a Qualified Financing

The Company was obligated to issue warrants that accompany the convertible notes and provide 100% warrant coverage. The warrants have a 4-year term from date of issuance and an exercise price that is 200% of the 5-day volume weighted average price of the Company’s common shares at the time of final closing. The Company was obligated to pay the placement agent of the first series of Series C Notes a 10% cash fee for the face value of the notes The Company was also obligated to issue warrants to the placement agent that have a 10-year term and cover 8% of face value of the notes, with an exercise price that equals to the 5-day volume weighted average price of the Company’s common shares at the time final closing

1100430

4.18

2.09

207361

1005829

134013

139568

320434

1471345

184911

1000000.0

0.12

250000

0.12

0.15

36460

2000000

0.10

45045 221621

55861

166975

19428

400000

9999

P280D

13995

560000

6142

66213

800000

32000

29556

13999

1120000

800

11200

481

150760

600000

0.25

2023-12-15

0.03

600000

12825

51101

270000

2023-12-31

248479

21521

270000

7304

300000

12000

5250

11083

420000

700000

28000

24500

980000

59161

357445

11900

9100

16100

108245

300651

In assigning the selling accounts receivables to the revolving loan lender, the Company is receiving 85% of their value as an advance of its regular collection of those receivables

1200000

300000

891111

300000

1191111

400000

24000

P98D

38705

540000

5143

24000

10949

141870

250000

500000

75000

250000

25000

250000

50000

500000

62500

630000

15750

P308D

19195

844200

598014

14676

1074

25599

284898

69930

689493

126574

370755

1421729

6. TERM LOAN AND CREDIT AGREEMENT Term Loan On December 21, 2021, the Company entered into a Credit Agreement (“Credit Agreement”) with SWK Funding LLC (“Lender’); as part of this, the Company has borrowed $12.4 million, with a maturity date of December 21, 2026. The principal will accrue interest at the LIBOR Rate plus 10.5% per annum (subject to adjustment as set forth in the Credit Agreement). Interest payments are due each February, May, August and November commencing February 15, 2022. Pursuant to the Credit Agreement, the Company will be required to make interest only payments for the first 24 months (which may be extended to 36 months under prescribed circumstances), after which payments will include principal amortization that accommodates a 40% balloon principal payment at maturity. Prepayment of amounts owing under the Credit Agreement are allowed under prescribed circumstances. Pursuant to the Credit Agreement the Company is subject to an Origination Fee in the amount of $120,000. Upon Termination of the Credit Agreement, the Company shall pay an Exit Fee of $600,000.  As part of the loan transaction, the Company paid legal and professional costs directly in connection to the debt financing in the amount of $50,000 in cash. Total costs directly in connection to the debt financing in the amount of $193,437 (professional fee $48,484; lender’s origination fee, due diligence fee, and other expenses in the amount of $144,953) was deduced from the gross proceeds in the amount of $12,000,000. The Company also repaid $1,574,068 of existing short-term loan and promissory notes and relevant accrued interests by using the proceeds from the loan. Total costs directly in connection to the loan and fair value of warrants were in the amount of $1,042,149, and such costs were accounted as debt discount and amortized using the effective interest method. The amortization of such debt discount was included in the accretion and amortization expenses. For the three months ended December 31, 2023 and 2022, the amortization of debt discount expense was $51,950 and $51,061, respectively, and $154,616 and $151,971 during the nine months ended December 31, 2023 and 2022, respectively. Total interest expense on the term loan for the three months ended December 31, 2023 and 2022 was $496,952 and $389,662, respectively, and $1,489,764 and $1,054,166 during the nine months ended December 31, 2023 and 2022, respectively. During November 2022, the unpaid interest of $364,000 was added to the outstanding principal balance, since then interest onwards would be calculated on the updated principal balance. The Company had accrued interest payable of $455,620 and $239,614, respectively, as of December 31, 2023 and March 31, 2023. The Company and Lender also entered into a Guarantee and Collateral Agreement (“Collateral Agreement”) wherein the Company agreed to secure the Credit Agreement with all of the Company’s assets. The Company and Lender also entered into an Intellectual Property Security Agreement dated December 21, 2021 (the “IP Security Agreement”) wherein the Credit Agreement is also secured by the Company’s right title and interest in the Company’s Intellectual Property. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) In connection with the Credit Agreement, the Company issued 9,590 warrants (as adjusted for the Reverse Split) to the Lender, which were fair-valued at $198,713 at issuance (Note 9). The warrants are accounted as a deduction from liability as well as a credit into additional paid-in capital, and amortized using the effective interest method. At December 31, 2023, the Company was not in compliance with certain covenants of the term loan, for which it sought and received relief from the term loan lender.

12400000

2026-12-21

0.105

2022-02-15

120000 600000

50000

193437

48484

144953

12000000

1574068

1042149

51950

51061

154616

151971

496952

389662

1489764

1054166

364000

455620

239614

9590

198713

7. FEDERALLY GUARANTEED LOAN Economic Injury Disaster Loan (“EIDL”) In April 2020, the Company received $370,900 from the U.S. Small Business Administration (SBA) under the captioned program. The loan has a term of 30 years and an interest rate of <span id="xdx_901_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20200430__us-gaap--DebtInstrumentAxis__custom--EconomicInjuryDisasterLoanMember_zKbn4JlsdWdf" title="Debt interest rate">3.75% per annum, without the requirement for payment in the first 12 months. The Company may prepay the loan without penalty at will. In May 2021, the Company received an additional $499,900 from the SBA under the same terms. As of December 31, 2023, the Company recorded accrued interest of $35,846 for the EIDL loan (March 31, 2023: $65,247). Interest expense on the above loan was $8,231 and $8,230 for the three months ended December 31, 2023 and 2022, respectively, and $24,603 and $24,602 for the nine months ended December 31, 2023 and 2022, respectively.

370900

The loan has a term of 30 years and an interest rate of 3.75% per annum, without the requirement for payment in the first 12 months.

P30Y

0.0375

499900

35846

65247

8231

8230

24603

24602

8. DERIVATIVE LIABILITIES The Company analyzed the compound features of variable conversion and redemption embedded in the series A and series B preferred shares instruments, for potential derivative accounting treatment on the basis of ASC 820 (Fair Value in Financial Instruments), ASC 815 (Accounting for Derivative Instruments and Hedging Activities), Emerging Issues Task Force (“EITF”) Issue No. 00–19 and EITF 07–05, and determined that the embedded derivatives should be bundled and valued as a single, compound embedded derivative, bifurcated from the underlying equity instrument, treated as a derivative liability, and measured at fair value. A roll-forward of activity is presented below for the nine months ended December 31, 2023 and 2022: SCHEDULE OF DERIVATIVE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20230401__20231231_zmMLEv5U5UOf" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49E_20220401__20221231_zgcBGTo50KLi" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">$</td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_ztXzvakJQ5Ei" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Derivative liabilities, beginning of period</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">759,065</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">352,402</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues_zxyS3GSZXm2j" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Derivative liabilities recognized pursuant to issuance of Series B preferred shares (Note 9)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">642,417</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_zqXp4wMrdPS9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in fair value of derivatives during period</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(142,830</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">442,309</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--ReductionDueToPreferredSharesConverted_zKxUBFnNLpxe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Reduction due to preferred shares converted</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(119,359</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(53,036</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--ConversionOfStockAmountConverted1_zIkK4KW1JuVf" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Conversion to common shares</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--ConversionOfStockAmountModification_zCYpYVxJj9q7" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Convertible note modification</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--ConversionOfStockAmountRedemption_z6ctkLmZLcr3" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Convertible note redemption</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_zu81u3EkAvT2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Derivative liabilities, end of period</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,139,293</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">741,675</td><td style="text-align: left"> </td></tr> </table> The lattice methodology was used to value the derivative components, using the following assumptions during the nine months ended December 31, 2023 and 2022: SCHEDULE OF DERIVATIVE COMPONENTS VALUATION ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Dividend yield (%)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_90E_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20231231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_z1YWBhBulfyg" title="Derivative liability, measurement input">12</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_907_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20221231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zxY2Olg17JW8" title="Derivative liability, measurement input">12</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk-free rate for term (%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20231231__srt--RangeAxis__srt--MinimumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zI9UzM3INcrc" title="Derivative liability, measurement input">4.7 – <span id="xdx_904_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20231231__srt--RangeAxis__srt--MaximumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zwS5cjA4LBq7" title="Derivative liability, measurement input">13.7</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20221231__srt--RangeAxis__srt--MinimumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zOKL1jfRgZRa" title="Derivative liability, measurement input">2.1 – <span id="xdx_90C_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20221231__srt--RangeAxis__srt--MaximumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zrhZX40LIyI9" title="Derivative liability, measurement input">4.4</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Volatility (%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20231231__srt--RangeAxis__srt--MinimumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zheN6aiBzqK2" title="Derivative liability, measurement input">71.9 – <span id="xdx_90C_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20231231__srt--RangeAxis__srt--MaximumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zjJjOqwR0ep2" title="Derivative liability, measurement input">119.1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20221231__srt--RangeAxis__srt--MinimumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zK3WzkftI763" title="Derivative liability, measurement input">85.4 – <span id="xdx_90D_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20221231__srt--RangeAxis__srt--MaximumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zDcxr2rXkkEb" title="Derivative liability, measurement input">102</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Remaining terms (Years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20230401__20231231__srt--RangeAxis__srt--MinimumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zaQU2Gcg1iu3" title="Derivative liability remaining term">0.25 – <span id="xdx_902_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20230401__20231231__srt--RangeAxis__srt--MaximumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zifBQMDtuRY6" title="Derivative liability remaining term">2.01</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20220401__20221231__srt--RangeAxis__srt--MinimumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zJGB5b1xOGvd" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1 – <span id="xdx_90B_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20220401__20221231__srt--RangeAxis__srt--MaximumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zyQFpJoAmqL3">3.01</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Stock price ($ per share)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.64 – 3.82</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.45 – 10.62</td><td style="text-align: left"> </td></tr> </table> BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) In addition, the Company recorded derivative liabilities related to the conversion and redemption features of the convertible notes, as well as warrants that were issued in connection with the convertible notes (Note 5). Any noteholder and placement agent warrants that were issued after the finalization of exercise price was accounted for as equity. A roll-forward of activity is presented below for the nine months ended December 31, 2023 and 2022: <p id="xdx_89E_eus-gaap--ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock_hus-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zVrendwJpLmi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">SCHEDULE OF DERIVATIVE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49A_20230401__20231231__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zeUz38EsdHkd" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_494_20220401__20221231__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zqXjiCACh2v9" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40D_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_zilfHQsJLNTj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; font-weight: bold; font-style: italic">Balance beginning of period – March 31</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,008,216</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">520,747</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssue_zS4qho4uWVQ4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">New Issuance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,224,933</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ConversionOfStockAmountConverted1_iN_di_zZHhrtunPim7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Conversion to common shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(39,089</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(192,794</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_zcPXeBq3ag83" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in fair value of derivative liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">386,845</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27,662</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--DerivativeTreatment_ztMePkJhqzOf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">End of derivative treatment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,652,572</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(17,979</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_ecustom--ConversionOfStockAmountModification_zw0chP2ucl81" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Convertible note modification</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(53,402</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_zwyjUeU22mve" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; font-style: italic">Balance end of period – December 31</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">928,333</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">351,719</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_899_eus-gaap--ScheduleOfAssumptionsUsedTableTextBlock_hus-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zVX9Cq9nczkj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The Monte-Carlo methodology was used to value the convertible note and warrant derivative components during the six months ended December 31, 2023 and 2022, using the following assumptions: SCHEDULE OF DERIVATIVE COMPONENTS VALUATION ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Risk-free rate for term (%)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_905_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20231231__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zlKv0nlAURZg" title="Derivative liability, measurement input">4.2 – <span id="xdx_905_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20231231__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_ztIaYjhV7K6e" title="Derivative liability, measurement input">5.3 </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_905_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20221231__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zcEE4FXD8Evb" title="Derivative liability, measurement input">4.4 – <span id="xdx_903_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20221231__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zi6OsXrApXzd" title="Derivative liability, measurement input">4.4 </td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Volatility (%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20231231__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zcGgzLmzKDId" title="Derivative liability, measurement input">76.2 – <span id="xdx_905_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20231231__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zaK9DQAOMyP3" title="Derivative liability, measurement input">126.6 </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20221231__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zb1Tqx5ChdDf" title="Derivative liability, measurement input">94 – <span id="xdx_904_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20221231__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zj5e9fC7DEw8" title="Derivative liability, measurement input">102 </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Remaining terms (Years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20230401__20231231__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zgODWpGCkyMe" title="Remaining terms">0.25 – <span id="xdx_903_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20230401__20231231__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zv5bCFra20b8" title="Remaining terms">1.49 </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20220401__20221231__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zwmyulSofj99" title="Remaining terms">1 – <span id="xdx_90A_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20220401__20221231__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zmPZg1EEW5W9" title="Remaining terms">1 </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Stock price ($ per share)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_ecustom--DerivativeStockPrice_iI_pid_c20231231__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember_zGwFR3HPz63c" title="Stock price">0.46 – <span id="xdx_90D_ecustom--DerivativeStockPrice_iI_pid_c20231231__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember_zLCekprLqGac" title="Stock price">3.04 </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_ecustom--DerivativeStockPrice_iI_pid_c20221231__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember_zpYlGXivykOj" title="Stock price">0.45 – <span id="xdx_903_ecustom--DerivativeStockPrice_iI_pid_c20221231__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember_zd3lBIFve6I5" title="Stock price">0.45 </td><td style="text-align: left"> </td></tr> </table>

SCHEDULE OF DERIVATIVE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20230401__20231231_zmMLEv5U5UOf" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49E_20220401__20221231_zgcBGTo50KLi" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">$</td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_ztXzvakJQ5Ei" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Derivative liabilities, beginning of period</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">759,065</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">352,402</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues_zxyS3GSZXm2j" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Derivative liabilities recognized pursuant to issuance of Series B preferred shares (Note 9)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">642,417</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_zqXp4wMrdPS9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in fair value of derivatives during period</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(142,830</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">442,309</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--ReductionDueToPreferredSharesConverted_zKxUBFnNLpxe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Reduction due to preferred shares converted</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(119,359</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(53,036</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--ConversionOfStockAmountConverted1_zIkK4KW1JuVf" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Conversion to common shares</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--ConversionOfStockAmountModification_zCYpYVxJj9q7" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Convertible note modification</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--ConversionOfStockAmountRedemption_z6ctkLmZLcr3" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Convertible note redemption</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_zu81u3EkAvT2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Derivative liabilities, end of period</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,139,293</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">741,675</td><td style="text-align: left"> </td></tr> </table>

759065

352402

642417

-142830

442309

-119359 -53036

1139293

741675

The lattice methodology was used to value the derivative components, using the following assumptions during the nine months ended December 31, 2023 and 2022: SCHEDULE OF DERIVATIVE COMPONENTS VALUATION ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Dividend yield (%)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_90E_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20231231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_z1YWBhBulfyg" title="Derivative liability, measurement input">12</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_907_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20221231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zxY2Olg17JW8" title="Derivative liability, measurement input">12</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk-free rate for term (%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20231231__srt--RangeAxis__srt--MinimumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zI9UzM3INcrc" title="Derivative liability, measurement input">4.7 – <span id="xdx_904_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20231231__srt--RangeAxis__srt--MaximumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zwS5cjA4LBq7" title="Derivative liability, measurement input">13.7</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20221231__srt--RangeAxis__srt--MinimumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zOKL1jfRgZRa" title="Derivative liability, measurement input">2.1 – <span id="xdx_90C_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20221231__srt--RangeAxis__srt--MaximumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zrhZX40LIyI9" title="Derivative liability, measurement input">4.4</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Volatility (%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20231231__srt--RangeAxis__srt--MinimumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zheN6aiBzqK2" title="Derivative liability, measurement input">71.9 – <span id="xdx_90C_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20231231__srt--RangeAxis__srt--MaximumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zjJjOqwR0ep2" title="Derivative liability, measurement input">119.1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20221231__srt--RangeAxis__srt--MinimumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zK3WzkftI763" title="Derivative liability, measurement input">85.4 – <span id="xdx_90D_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20221231__srt--RangeAxis__srt--MaximumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zDcxr2rXkkEb" title="Derivative liability, measurement input">102</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Remaining terms (Years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20230401__20231231__srt--RangeAxis__srt--MinimumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zaQU2Gcg1iu3" title="Derivative liability remaining term">0.25 – <span id="xdx_902_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20230401__20231231__srt--RangeAxis__srt--MaximumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zifBQMDtuRY6" title="Derivative liability remaining term">2.01</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20220401__20221231__srt--RangeAxis__srt--MinimumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zJGB5b1xOGvd" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1 – <span id="xdx_90B_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20220401__20221231__srt--RangeAxis__srt--MaximumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zyQFpJoAmqL3">3.01</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Stock price ($ per share)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.64 – 3.82</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.45 – 10.62</td><td style="text-align: left"> </td></tr> </table>

4.7

13.7

2.1

4.4

71.9

119.1

85.4

102

P0Y3M P2Y3D P1Y P3Y3D 0.64 3.82 0.45 10.62

<p id="xdx_89E_eus-gaap--ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock_hus-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zVrendwJpLmi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">SCHEDULE OF DERIVATIVE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49A_20230401__20231231__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zeUz38EsdHkd" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_494_20220401__20221231__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zqXjiCACh2v9" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40D_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_zilfHQsJLNTj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; font-weight: bold; font-style: italic">Balance beginning of period – March 31</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,008,216</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">520,747</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssue_zS4qho4uWVQ4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">New Issuance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,224,933</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ConversionOfStockAmountConverted1_iN_di_zZHhrtunPim7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Conversion to common shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(39,089</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(192,794</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_zcPXeBq3ag83" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in fair value of derivative liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">386,845</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27,662</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--DerivativeTreatment_ztMePkJhqzOf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">End of derivative treatment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,652,572</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(17,979</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_ecustom--ConversionOfStockAmountModification_zw0chP2ucl81" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Convertible note modification</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(53,402</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_zwyjUeU22mve" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; font-style: italic">Balance end of period – December 31</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">928,333</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">351,719</td><td style="text-align: left"> </td></tr> </table>

1008216

520747

1224933

39089

192794

386845

27662

-1652572 -17979 -53402

928333

351719

<p id="xdx_899_eus-gaap--ScheduleOfAssumptionsUsedTableTextBlock_hus-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zVX9Cq9nczkj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The Monte-Carlo methodology was used to value the convertible note and warrant derivative components during the six months ended December 31, 2023 and 2022, using the following assumptions: SCHEDULE OF DERIVATIVE COMPONENTS VALUATION ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Risk-free rate for term (%)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_905_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20231231__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zlKv0nlAURZg" title="Derivative liability, measurement input">4.2 – <span id="xdx_905_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20231231__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_ztIaYjhV7K6e" title="Derivative liability, measurement input">5.3 </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_905_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20221231__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zcEE4FXD8Evb" title="Derivative liability, measurement input">4.4 – <span id="xdx_903_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20221231__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zi6OsXrApXzd" title="Derivative liability, measurement input">4.4 </td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Volatility (%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20231231__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zcGgzLmzKDId" title="Derivative liability, measurement input">76.2 – <span id="xdx_905_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20231231__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zaK9DQAOMyP3" title="Derivative liability, measurement input">126.6 </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20221231__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zb1Tqx5ChdDf" title="Derivative liability, measurement input">94 – <span id="xdx_904_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20221231__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zj5e9fC7DEw8" title="Derivative liability, measurement input">102 </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Remaining terms (Years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20230401__20231231__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zgODWpGCkyMe" title="Remaining terms">0.25 – <span id="xdx_903_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20230401__20231231__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zv5bCFra20b8" title="Remaining terms">1.49 </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20220401__20221231__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zwmyulSofj99" title="Remaining terms">1 – <span id="xdx_90A_ecustom--DerivativeLiabilityRemainingTerm_dtY_c20220401__20221231__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zmPZg1EEW5W9" title="Remaining terms">1 </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Stock price ($ per share)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_ecustom--DerivativeStockPrice_iI_pid_c20231231__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember_zGwFR3HPz63c" title="Stock price">0.46 – <span id="xdx_90D_ecustom--DerivativeStockPrice_iI_pid_c20231231__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember_zLCekprLqGac" title="Stock price">3.04 </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_ecustom--DerivativeStockPrice_iI_pid_c20221231__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember_zpYlGXivykOj" title="Stock price">0.45 – <span id="xdx_903_ecustom--DerivativeStockPrice_iI_pid_c20221231__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--ConvertibleNoteAndWarrantDerivativeMember_zd3lBIFve6I5" title="Stock price">0.45 </td><td style="text-align: left"> </td></tr> </table>

4.2

5.3

4.4

76.2

126.6

102

P0Y3M P1Y5M26D P1Y P1Y 0.46 3.04 0.45 0.45

9. STOCKHOLDERS’ DEFICIENCY AND MEZZANINE EQUITY (a) Authorized and Issued Stock As at December 31, 2023, the Company is authorized to issue 125,000,000 (March 31, 2023 – 125,000,000) shares of common stock ($0.001 par value), and 10,000,000 (March 31, 2023 – 10,000,000) shares of preferred stock ($0.001 par value), of which 20,000 (March 31, 2023 – 20,000) are designated shares of Series A preferred stock ($0.001 par value) and 600 (March 31, 2023 – <span id="xdx_905_eus-gaap--PreferredStockSharesAuthorized_iI_dxL_c20230331__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zOk8MS3pmil9" title="Preferred stock, shares authorized::XDX::-">nil) are designated shares of Series B preferred stock ($0.001 par value). At December 31, 2023, common shares and shares directly exchangeable into equivalent common shares that were issued and outstanding totaled <span id="xdx_905_eus-gaap--SharesOutstanding_iI_c20231231__srt--TitleOfIndividualAxis__custom--ShareholdersMember__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementMember_zPOcK295eex5" title="Shares outstanding">9,419,629 (March 31, 2023 – <span id="xdx_907_eus-gaap--SharesOutstanding_iI_c20230331__srt--TitleOfIndividualAxis__custom--ShareholdersMember__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementMember_zoU1tRmonrs1" title="Shares outstanding">8,752,505) shares; these were comprised of 9,258,957 (March 31, 2023 – 8,508,052) shares of common stock and 160,672 (March 31, 2023 – 244,458) exchangeable shares. At December 31, 2023, there were 6,304 shares of Series A Preferred Stock that were issued and outstanding (March 31, 2023 – 6,304) and there were 180 shares of Series B Preferred Stock that were issued and outstanding (March 31, 2023 – <span id="xdx_906_eus-gaap--PreferredStockSharesOutstanding_iI_dxL_c20230331__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_z6rFwmOm6oU2" title="Preferred stock, shares outstanding::XDX::-">nil). Lastly, there is also one share of the Special Voting Preferred Stock issued and outstanding held by one holder of record, which is the Trustee in accordance with the terms of the Trust Agreement and outstanding as at December 31, 2023 and March 31, 2023. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) (b) Series A Preferred Stock The number of Series A Preferred Stock issued and outstanding as of December 31, 2023 and March 31, 2023 was <span id="xdx_90D_eus-gaap--PreferredStockSharesOutstanding_iI_pid_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zlwdjKOu7fjl" title="Preferred stock, shares outstanding"><span id="xdx_907_eus-gaap--PreferredStockSharesOutstanding_iI_pid_c20230331__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_ztXARkV0NeGe" title="Preferred stock, shares outstanding">6,304. The Series A Preferred Stock is junior to the Company’s existing undesignated preferred stock, and unless otherwise set forth in the applicable certificate of designations, shall be junior to any future issuance of preferred stock. The purchase price (the “Purchase Price”) for the Series A Preferred Stock to date has been $<span id="xdx_906_eus-gaap--PreferredStockLiquidationPreference_iI_pid_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zmPwMQ4zDlEg" title="Preferred stock, liquidation preference">1,000 per share. Except as otherwise expressly required by law, the Series A Preferred Stock does not have voting rights and does not have any liquidation rights. Preferred Stock Dividends Dividends shall be paid at the rate of <span id="xdx_903_eus-gaap--PreferredStockDividendRatePercentage_pid_dp_uPure_c20230401__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zMExKau853ia" title="Preferred stock dividend rate percentage">12% per annum of the amount of the Series A Preferred Stockholder’s (the “Holder”) Purchase Price. Dividends shall be paid quarterly unless the Holder and the Company mutually agree to accrue and defer any such dividend. Conversion The Series A Preferred Stock is convertible into shares of common stock commencing 24 months after the issuance date of the Series A Preferred Stock. Upon which, on a monthly basis, up to <span id="xdx_904_eus-gaap--DebtInstrumentRedemptionPricePercentage_pid_dp_uPure_c20230401__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_z5LcOPQKe4ci" title="Debt instrument redemption price percentage">5% of the aggregate amount of the Purchase Price can be converted (subject to adjustment for changes in the Holder’s ownership of the underlying Series A Preferred Stock). The conversion price is equal to the greater of $<span id="xdx_90F_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pid_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zdtYf5qr9OGi" title="Preferred stock convertible conversion price">0.001 or a <span id="xdx_90E_ecustom--VolumeWeightedAveragePricePercentage_pid_dp_uPure_c20230401__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_z1xU4DUuQ3j9" title="Volume weighted average price percentage">15% discount to the volume-weighted average price (“VWAP”) of the Company’s common stock five Trading Days immediately prior to the conversion date (the “Conversion Rate). Additionally, subject to certain provisions, the Holder may exchange its Series A Preferred Stock into any common stock financing being conducted by the Company at a 15% discount to the pricing of that financing. Other Adjustments and Rights ● The Conversion Rate (and shares issuable upon conversion of the Series A Preferred Stock) will be appropriately adjusted to reflect stock splits, stock dividends business combinations and similar recapitalization. ● The Holders shall be entitled to a proportionate share of certain qualifying distributions on the same basis as if they were holders of the Company’s common stock on an as converted basis. Company Redemption The Company may redeem all or part of the outstanding Series A Preferred Stock after one year from the date of issuance by paying an amount equal to the aggregate Purchase Price paid, adjusted for any reduction in Series A Preferred Stock holding, multiplied by 110% plus accrued dividends. (c) Series B Preferred Stock and Mezzanine Equity On September 19, 2023, the Company entered into a security purchase agreement (the “Purchase Agreement”) with an institutional investor (the “Investor”) for the issuance and sale of 220 shares of the Company’s newly designated Series B Convertible Preferred Stock, $0.001 par value (the “Series B Preferred Stock”), at a purchase price of $<span id="xdx_905_eus-gaap--PreferredStockRedemptionPricePerShare_iI_pid_c20230919__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_ztKLiX8BlsI" title="Preferred stock convertible purchase price">9,091 per share of Preferred Stock, and after accounted for other issuance related costs, the net proceeds received was in the amount of $<span id="xdx_902_eus-gaap--ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_c20230918__20230919__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zCC9Ubv2zEn4" title="Gross proceeds">1,900,000. Shares of Series B Preferred Stock and shares of Common Stock of the Company that are issuable upon conversion of, or as dividends on, the Series B Preferred Stock were offered and were issued pursuant to the Prospectus Supplement, filed September 19, 2023, to the Prospectus included in the Company’s Registration Statement on Form S-3 (Registration No. 333-255544) filed with the Securities and Exchange Commission on April 27, 2021, and declared effective May 4, 2021. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) Pursuant to the Purchase Agreement, on September 19, 2023, the Company filed a certificate of designations of Series B Convertible Preferred Stock (the “Certificate of Designations”) with the Nevada Secretary of State designating <span id="xdx_906_eus-gaap--PreferredStockSharesIssued_iI_c20230919__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zNNjg8FUhM1f" title="Preferred stock, shares issued">600 shares of the Company’s shares of Preferred Stock as Series B Convertible Preferred Stock and setting forth the voting and other powers, preferences and relative, participating, optional or other rights of the Preferred Shares. Each share of Series B Preferred Stock has a stated value of $<span id="xdx_903_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_pid_c20230919__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zZuyabpiYBe4" title="Preferred stock convertible conversion price">10,000 per share. The Series B Preferred Stock, with respect to the payment of dividends, distributions and payments upon the liquidation, dissolution and winding up of the Company, ranks senior to all capital stock of the Company unless the holders of the majority of the outstanding shares of Series B Preferred Stock consent to the creation of other capital stock of the Company that is senior or equal in rank to the Series B Preferred Stock. Holders of Series B Preferred Stock will be entitled to receive cumulative dividends (“Dividends”), in shares of common stock or cash on the stated value at an annual rate of <span id="xdx_903_ecustom--StatedValuePercentage_iI_pid_dp_c20230919__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_za4o4dHxV7Pd" title="Stated value percentage">8% (which will increase to 15% if a Triggering Event (as defined in the Certificate of Designations) occurs. Dividends will be payable upon conversion of the Series B Preferred Stock, upon any redemption, or upon any required payment upon any Bankruptcy Triggering Event (as defined in the Certificate of Designations). Holders of Series B Preferred Stock will be entitled to convert shares of Series B Preferred Stock into a number of shares of common stock determined by dividing the stated value (plus any accrued but unpaid dividends and other amounts due) by the conversion price. The initial conversion price is $3.50, subject to adjustment in the event the Company sells common stock at a price lower than the then-effective conversion price. Holders may not convert the Series B Preferred Stock to common stock to the extent such conversion would cause such holder’s beneficial ownership of common stock to exceed <span id="xdx_901_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_pid_dp_c20230919__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__srt--OwnershipAxis__custom--BeneficiaryMember_zxKQsM41Ut26" title="Ownership percentage">4.99% of the outstanding common stock. In addition, the Company will not issue shares of common stock upon conversion of the Series B Preferred Stock in an amount exceeding <span id="xdx_902_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_pid_dp_c20230919__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__srt--OwnershipAxis__custom--BeneficiaryMember_z2YRlYdjZ9Wc" title="Ownership percentage">19.9% of the outstanding common stock as of the initial issuance date unless the Company receives shareholder approval for such issuances. Holders may elect to convert shares of Series B Preferred Stock to common stock at an alternate conversion price equal to 80% (or 70% if the Company’s common stock is suspended from trading on or delisted from a principal trading market or if the Company has effected a reverse split of the common stock) of the lowest daily volume weighed average price of the common stock during the Alternate Conversion Measuring Period (as defined in the Certificate of Designations). In the event the Company receives a conversion notice that elects an alternate conversion price, the Company may, at its option, elect to satisfy its obligation under such conversion with payment in cash in an amount equal to 110% of the conversion amount. The Series B Preferred Stock will automatically convert to common stock upon the 24-month anniversary of the initial issuance date of the Series B Preferred Stock. At any time after the earlier of a holder’s receipt of a Triggering Event notice and such holder becoming aware of a Triggering Event and ending on the 20th trading day after the later of (x) the date such Triggering Event is cured and (y) such holder’s receipt of a Triggering Event notice, such holder may require the Company to redeem such holder’s shares of Series B Preferred Stock. Upon any Bankruptcy Triggering Event (as defined in the Certificate of Designations), the Company will be required to immediately redeem all of the outstanding shares of Series B Preferred Stock. The Company will have the right at any time to redeem all or any portion of the Series B Preferred Stock then outstanding at a price equal to <span id="xdx_900_eus-gaap--DebtInstrumentRedemptionPricePercentage_pid_dp_uPure_c20230401__20231231__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zobjDxdA1wk7" title="Debt instrument redemption price percentage">110% of the stated value plus any accrued but unpaid dividends and other amounts due. Holders of the Series B Preferred Stock will have the right to vote on an as-converted basis with the common stock, subject to the beneficial ownership limitation set forth in the Certificate of Designations. The Series B Preferred Stock was accounted for as Mezzanine Equity in accordance with ASC 480 - Distinguishing Liabilities from Equity and the embedded conversion and redemption features was separated from the host instrument and recognized as derivative liabilities with change in fair value at each reporting period end recognized in the consolidated statement of operations. (Note 8). During the three months ended December 31, 2023, 40 Series B preferred shares were converted into <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_c20231001__20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z00McaLu5zvf" title="Number of shares convertible securities">562,251 common shares. As a result of the conversion, the Company removed $228,727 related to the book value of mezzanine equity for the shares converted. The Company removed $<span id="xdx_907_ecustom--ReductionDueToPreferredSharesRedeemed_c20230101__20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zEZ5VviflKD" title="Fair value of derivative liabilities">119,359 related to the fair value of derivative liabilities related to the shares converted. The Company recognized corresponding credits common share par value and paid in capital. A roll-forward of activity is presented below for the nine months ended December 31, 2023: <p id="xdx_894_ecustom--ScheduleOfSeriesBPreferredStockForMezzanineEquityTableTextBlock_zC3OQl8I0rra" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"> SCHEDULE OF SERIES B PREFERRED STOCK FOR MEZZANINE EQUITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49A_20230401__20231231_zdefaNBoM4ef" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">2023</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--ConvertiblePreferredStock_iS_zGsTTzjJo0n6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; font-style: italic">Balance beginning of period – March 31</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_zfA5ulnrxFp8" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: left">Net proceeds received pursuant to the issuance of preferred shares</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,900,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--ChangeInFairValueusMeasurementWithReconciliationRecurringBasisLiability_zcC0b4e0NGg5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Recognition of derivative liabilities (Note 8)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(642,417</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_ecustom--ConversionIntoCommonShares_zNxFn9Z7YNJ1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Conversion into common shares</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(228,727</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_ecustom--ConvertiblePreferredStock_iE_zIdxtOEEt99i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; font-style: italic">Balance end of period – December 31</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,028,856</td><td style="text-align: left"> </td></tr> </table> BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) (d) Common share issuances Issuances during the nine months ended December 31, 2023 The Company sold 36,897 common shares through use of its registration statement, for gross proceeds of $123,347, raising a net amount of $119,285 after paying a 3% placement fee and other issuance expenses. In addition, 20,846 shares of common stock were issued to existing holders as a result of rounding to the nearest whole share, which was required at the time of executing the Reverse Split. In addition, the Company issued <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20230401__20231231__us-gaap--IncomeStatementLocationAxis__us-gaap--GeneralAndAdministrativeExpenseMember_zLXniqMgLkD1" title="Common shares services">47,125 common shares for services received with a fair value of $<span id="xdx_905_eus-gaap--ProceedsFromIssuanceOfWarrants_c20230401__20231231__us-gaap--IncomeStatementLocationAxis__us-gaap--GeneralAndAdministrativeExpenseMember_zEGWkLR3c7l4" title="Issuance of warrants">45,947 which was recognized as a general and administrative expense with a corresponding credit to additional paid-in capital. Issuances during the nine months ended December 31, 2022 During the three months ended June 30, 2022, the Company issued <span id="xdx_908_ecustom--StockIssuedDuringPeriodShareConversionOfConvertibleSecurities_c20220401__20220630__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_zx1E2QEXdpJk" title="Stock issued during period share conversion of convertible securities">67,395 common shares in connection with conversion of convertible notes (Note 5). The total amounts of debts settled is in amount of $406,118 that composed of face value of convertible promissory notes in amount of $302,000 (Note 5), carrying amount of conversion and redemption feature derived from notes in amount of $<span id="xdx_90E_eus-gaap--DebtInstrumentConvertibleBeneficialConversionFeature_c20220401__20220630__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_z9kmC0XptWnd" title="Carrying amount of conversion and redemption">104,118. The fair value of the shares issued and to be issued was determined based on the market price upon conversion and was in the amount of $457,025. The difference, that represented a loss on conversion between amounts of debt settled and fair value of common shares issued, was in the amount of $<span id="xdx_90E_ecustom--LossOnConversionOfConvertiblePromissoryNotes_c20220401__20220630__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_zhgZUnY0xFka" title="Loss on conversion of convertible promissory notes">50,908 and was recorded as loss on conversion of convertible promissory notes in statement of operations. In addition, during the three months ended June 30, 2022, the Company removed <span id="xdx_909_ecustom--NumberSharesRemovedPreviouslyToBeIssued_pid_c20220401__20220630__srt--StatementScenarioAxis__custom--IssuanceOfCommonSharesMember_zdxyU6prZlGd" title="Number shares removed previously to be issued">6,683 of previously to be issued shares, in connection with cancellation of warrant exercises from certain warrant holders. In addition, the Company recognized additional <span id="xdx_905_ecustom--StockIssuedDuringPeriodSharesWarrantsExercised_pid_c20220401__20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z5rO1Ei1d0y" title="Stock issued during period shares warrants exercised">1,966 shares to be issued for warrant exercise request received but not processed as of quarter end. As a result of the cancellation of to be issued shares, $<span id="xdx_908_eus-gaap--StockIssuedDuringPeriodValueShareBasedCompensationForfeited_c20220401__20220630__srt--StatementScenarioAxis__custom--IssuanceOfCommonSharesMember__srt--RangeAxis__srt--MinimumMember_znY1RX7UDIHe" title="Cancellation of to be issued shares">42,500 was reduced from balance of shares to be issued, and the Company increased the balance of the shares to be issued by $<span id="xdx_901_ecustom--StockIssuedDuringPeriodValueWarrantsExercise_c20220401__20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zGXcSuHWruw5" title="Stock issued during period value warrants exercise">12,500 upon the warrants exercise. Lastly, during the three months ended June 30, 2022, the Company issued 695 common shares for services received, with a fair value of $7,500. During the three months ended September 30, 2022, the Company issued <span id="xdx_90E_ecustom--StockIssuedDuringPeriodShareConversionOfConvertibleSecurities_c20220701__20220930__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_zFJTrD8FCBU1" title="Stock issued during period share conversion of convertible securities">19,608 common shares in connection with conversion of convertible notes (Note 5). The total amounts of debts settled is in amount of $135,274 that composed of face value of convertible promissory notes in amount of $100,000 (Note 5), carrying amount of conversion and redemption feature derived from notes in amount of $<span id="xdx_905_eus-gaap--DebtInstrumentConvertibleBeneficialConversionFeature_c20220701__20220930__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_z1Bhr8QInOFd" title="Carrying amount of conversion and redemption">35,274. The fair value of the shares issued and to be issued was determined based on the market price upon conversion and was in the amount of $175,294. The difference, that represented a loss on conversion, between amounts of debts settled and fair value of common shares issued was in the amount of $<span id="xdx_902_ecustom--LossOnConversionOfConvertiblePromissoryNotes_c20220701__20220930__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_zkEhCBfqr5hi" title="Loss on conversion of convertible promissory notes">40,020 and was recorded as loss on conversion of convertible promissory notes in statement of operations. During the three months ended September 30, 2022, the Company issued 3,796 common shares for services received, with a fair value of $30,287. During the three months ended December 31, 2022, the Company issued <span id="xdx_908_ecustom--StockIssuedDuringPeriodShareConversionOfConvertibleSecurities_c20221001__20221231__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_zVlfla9X7wK5" title="Stock issued during period share conversion of convertible securities">39,808 common shares in connection with the conversion of convertible notes (Note 5). The total amounts of debts settled is in amount of $207,002 that composed of face value of convertible promissory notes in amount of $153,600 (Note 5), carrying amount of conversion and redemption feature derived from notes in amount of $<span id="xdx_90E_eus-gaap--DebtInstrumentConvertibleBeneficialConversionFeature_c20221001__20221231__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_zjPgMAder8a2" title="Carrying amount of conversion and redemption">53,402. The fair value of the shares issued and to be issued was determined based on the market price upon conversion and was in the amount of $211,602. The difference, that represented a loss on conversion, between amounts of debts settled and fair value of common shares issued was in the amount of $<span id="xdx_904_ecustom--LossOnConversionOfConvertiblePromissoryNotes_c20221001__20221231__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_zYQTx1ixaxT9" title="Loss on conversion of convertible promissory notes">4,600 and was recorded as loss on conversion of convertible promissory notes in condensed consolidated statements of operations and comprehensive loss. In addition, the Company issued <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20221001__20221231__us-gaap--IncomeStatementLocationAxis__us-gaap--GeneralAndAdministrativeExpenseMember_zaKQXB1uFrvd" title="Common shares services">17,544 common shares for services received with a fair value of $<span id="xdx_90B_eus-gaap--ProceedsFromIssuanceOfWarrants_c20221001__20221231__us-gaap--IncomeStatementLocationAxis__us-gaap--GeneralAndAdministrativeExpenseMember_zBKWobh3JuK5" title="Issuance of warrants">112,631 which was recognized as a general and administrative expense with a corresponding credit to additional paid-in capital. (e) Common shares to be issued Activity during the nine months ended December 31, 2023 None. Activity during the nine months ended December 31, 2022 During the nine months ended December 31, 2022, the Company issued 17,544 in satisfaction of its obligation of shares to be issued, and moved $77,300 out of the shares to be issued account into the additional paid in capital account. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) (f) Warrant issuances, exercises and other activity Warrant exercises and issuances during the nine months ended December 31, 2023 During the three months ended December 31, 2023, the Company issued <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20231001__20231231__srt--TitleOfIndividualAxis__custom--ExecutiveMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zvvMIqKOrQfc" title="Stock issued during period shares new issues">868,098 note holder warrants and <span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20231231__srt--TitleOfIndividualAxis__custom--ExecutiveMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zA38r0A0s5zk" title="Placement warrants">69,062 placement agent warrants related to the final closing of Series C convertible notes (Note 5). These warrants relate to Series C Convertible Notes. Prior to the final closing date (October 23, 2023) of Series C Convertible Notes, the Company determined that the obligations to issue note holder warrants and placement agent warrants represented a derivative liability that meets the requirements for liability classification under ASC 815. The Company accounted for these obligations by determining the fair value of the related derivative liabilities. Subsequently, the exercise price of all warrants was concluded and locked to $4.18 and $<span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20231231__srt--TitleOfIndividualAxis__custom--PlacementAgentWarrantsMember_zrDs2Yl2idni" title="Warrant exercise price">2.09, respectively, for the note holder and placement agent warrants, as of the final closing date October 23, 2023. Since the exercise price was no longer a variable, the Company concluded that the note holder and placement agent warrants should no longer be accounted for as a derivative liability in accordance with ASC 815 guidelines related to equity indexation and classification. The derivative liabilities related to those warrants were therefore marked to market as of October 23, 2023 and then transferred to equity (collectively, “End of warrants derivative treatment”). The warrants were therefore recognized with a reduction of $<span id="xdx_903_eus-gaap--DerivativeLiabilities_iI_c20231231__srt--TitleOfIndividualAxis__custom--ExecutiveMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zr1CZWtNTTsg" title="Derivative liabilities">1,652,572 against the derivative liability and a corresponding credit against paid in capital. Warrant exercises and issuances during the nine months ended December 31, 2022 During the three months ended June 30, 2022, the Company issued <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220401__20220630__srt--TitleOfIndividualAxis__custom--ExecutiveMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z2tbpuF7hg5d" title="Stock issued during period shares new issues">8,972 warrants as compensation to an executive of the Company who was not part of the Company stock options plan. The warrant expenses were fair-valued at $<span id="xdx_908_eus-gaap--WarrantsAndRightsOutstanding_iI_c20220630__us-gaap--IncomeStatementLocationAxis__us-gaap--SellingGeneralAndAdministrativeExpensesMember_z2MraxkUgEj8" title="Warrants and rights outstanding">77,414, and recognized as general and administrative expenses, with a corresponding credit to additional paid-in capital. During the three months ended September 30, 2022, the Company issued <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220701__20220930__srt--TitleOfIndividualAxis__custom--ExecutiveMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zC9Xb9FkKYv" title="Stock issued during period shares new issues">19,714 warrants as compensation to an executive of the Company who was not part of the Company stock options plan. The warrant expenses were fair-valued at $<span id="xdx_901_eus-gaap--WarrantsAndRightsOutstanding_iI_c20220930__us-gaap--IncomeStatementLocationAxis__us-gaap--SellingGeneralAndAdministrativeExpensesMember_zZF1a5MGbXBe" title="Warrants and rights outstanding">77,332, and recognized as general and administrative expenses, with a corresponding credit to additional paid-in capital. During the three months ended December 31, 2022, the Company issued <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20221001__20221231__srt--TitleOfIndividualAxis__custom--ExecutiveMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_znZkWABzgiWb" title="Stock issued during period shares new issues">36,464 warrants as compensation to an executive of the Company who was not part of the Company stock options plan. The fair value of the warrants at issuance was $<span id="xdx_904_eus-gaap--FairValueAdjustmentOfWarrants_c20221001__20221231__srt--TitleOfIndividualAxis__custom--ExecutiveMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zecKWh6sHs06">77,780 and was recognized as a general and administrative expense, with a corresponding credit to additional paid-in capital. In addition, the Company added 52,083 warrants to its outstanding warrant schedule in connection with warrants issued to Series B convertible note holders. This has no impact on paid-in capital as the fair value of warrants was already accounted for as part of the original Series B convertible note issuance accounting entries. Lastly, the Company extinguished and exchanged 51,101 warrants for promissory notes [Note 5] that resulted in an adjustment to additional paid-in capital in the amount of $71,768. Warrant activity during the nine months ended December 31, 2023 is indicated below: SCHEDULE OF WARRANTS OUTSTANDING <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" id="xdx_4B2_us-gaap--StatementEquityComponentsAxis_custom--BrokerWarrantsMember_zb7DAaybUt3d" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Broker Warrants</td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" id="xdx_4B2_us-gaap--StatementEquityComponentsAxis_custom--ConsultantWarrantsMember_zYn4qQM9Pfs8" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Consultant and Noteholder Warrants</td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" id="xdx_4B2_us-gaap--StatementEquityComponentsAxis_custom--WarrantsIssuedOnConversionOfConvertibleNotesMember_zkTXR7G8ABni" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Warrants Issued on Convertible Notes</td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" id="xdx_4BD_zTisW7nyy6V6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Total</td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td></tr> <tr id="xdx_437_c20230401__20231231_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_zGLmrjs2cVt5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; padding-left: 0pt">As at March 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">139,865</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">279,341</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">888,277</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">1,307,483</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations_iN_di_zrWGAN7uDNMf" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt">Expired/cancelled</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(25,347</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(25,347</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_di_zvuOSa4IwOrb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt">Exercised</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_zeYkkKnXEOgb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt">Issued</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">69,062</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">868,029</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">937,091</td><td style="text-align: left"> </td></tr> <tr id="xdx_438_c20230401__20231231_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_zanL5k1ev6Ii" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt">As at December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">208,927</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">253,994</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,756,306</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,219,227</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: -10pt">Exercise Price</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"> <span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20231231__us-gaap--StatementEquityComponentsAxis__custom--BrokerWarrantsMember__srt--RangeAxis__srt--MinimumMember_zI8iT8pcdAZf" title="Exercise Price">2.09 to $<span id="xdx_903_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20231231__us-gaap--StatementEquityComponentsAxis__custom--BrokerWarrantsMember__srt--RangeAxis__srt--MaximumMember_zxqdbhnNZA59" title="Exercise Price">37.56 </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"> <span id="xdx_907_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20231231__us-gaap--StatementEquityComponentsAxis__custom--ConsultantWarrantsMember__srt--RangeAxis__srt--MinimumMember_zG1MmqOguiYa" title="Exercise Price">2.69 to $<span id="xdx_905_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20231231__us-gaap--StatementEquityComponentsAxis__custom--ConsultantWarrantsMember__srt--RangeAxis__srt--MaximumMember_z338N7K6xaTh" title="Exercise Price">14.40</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"> <span id="xdx_908_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20231231__us-gaap--StatementEquityComponentsAxis__custom--WarrantsIssuedOnConversionOfConvertibleNotesMember__srt--RangeAxis__srt--MinimumMember_za4mhZry8DDe" title="Exercise Price">6.36 to $<span id="xdx_908_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20231231__us-gaap--StatementEquityComponentsAxis__custom--WarrantsIssuedOnConversionOfConvertibleNotesMember__srt--RangeAxis__srt--MaximumMember_zLFz4VTukDq5" title="Exercise Price">9.00 </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0pt">Expiration Date</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--ClassOfWarrantOrRightReasonForIssuingToNonemployees_c20230401__20231231__us-gaap--StatementEquityComponentsAxis__custom--BrokerWarrantsMember_zlkP2kvWTXp8" title="Expiration Date">August 2026 to October 2033 </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightReasonForIssuingToNonemployees_c20230401__20231231__us-gaap--StatementEquityComponentsAxis__custom--ConsultantWarrantsMember_zDo6YYgmezE5" title="Expiration Date">December 2028 to December 2032</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--ClassOfWarrantOrRightReasonForIssuingToNonemployees_c20230401__20231231__us-gaap--StatementEquityComponentsAxis__custom--WarrantsIssuedOnConversionOfConvertibleNotesMember_zVz9UwDd3dq8" title="Expiration Date">January 2024 to October 2024 </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> </table> (g) Stock-based compensation 2016 Equity Incentive Plan On February 2, 2016, the Board of Directors of the Company approved the Company’s 2016 Equity Incentive Plan (the “Plan”). The purpose of the Plan is to advance the interests of the Company and its stockholders by providing an incentive to attract, retain and reward persons performing services for the Company and by motivating such persons to contribute to the growth and profitability of the Company. The Plan seeks to achieve this purpose by providing for awards in the form of options, stock appreciation rights, restricted stock purchase rights, restricted stock bonuses, restricted stock units, performance shares, performance units and other stock-based awards. The Plan shall continue in effect until its termination by the board of directors or committee formed by the board; provided, however, that all awards shall be granted, if at all, on or before the day immediately preceding the tenth (10th) anniversary of the effective date. The maximum number of shares of stock that may be issued under the Plan shall be equal to <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_c20160202__us-gaap--PlanNameAxis__custom--TwoThousandAndSixteenEquityIncentivePlanMember_zyaZQ2bkCvpa" title="Share based payment award number of shares authorized">3,750,000 shares; provided that the maximum number of shares of stock that may be issued under the Plan pursuant to awards shall automatically and without any further Company or shareholder approval, increase on January 1 of each year for not more than 10 years from the effective date, so the number of shares that may be issued is an amount no greater than 20% of the Company’s outstanding shares of stock and shares of stock underlying any outstanding exchangeable shares as of such January 1; provided further that no such increase shall be effective if it would violate any applicable law or stock exchange rule or regulation, or result in adverse tax consequences to the Company or any participant that would not otherwise result but for the increase. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) During the three months ended December 31, 2023 and 2022, the Company granted <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_do_uShares_c20231001__20231231__us-gaap--PlanNameAxis__custom--TwoThousandAndSixteenEquityIncentivePlanMember_zVMyA6whhAo4" title="Stock options granted"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_do_uShares_c20221001__20221231__us-gaap--PlanNameAxis__custom--TwoThousandAndSixteenEquityIncentivePlanMember_zuceUhKH1Jsk" title="Stock options granted">no new stock options, and granted <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_uShares_c20230401__20231231__us-gaap--PlanNameAxis__custom--TwoThousandAndSixteenEquityIncentivePlanMember_z1Kk3nyYM38e" title="Stock options granted">3,585 and <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_uShares_c20220401__20221231__us-gaap--PlanNameAxis__custom--TwoThousandAndSixteenEquityIncentivePlanMember_zLuuneF24ddd" title="Stock options granted">2,325 during the nine months ended December 2023 and 2022, respectively. The Company recorded stock-based compensation of $170,140 and $63,125 during the three months ended December 31, 2023 and 2022, respectively, and $ 544,655 and $363,372 during the nine months ended December 31, 2023 and 2022, respectively, in connection with the Plan under selling, general and administrative expenses with corresponding credit to additional paid in capital. The amount of vested stock options outstanding as of December 31, 2023 and March 31, 2023 was 1,043,488 and 960,521, respectively. The following table summarizes the stock option activities during the nine months ended December 31, 2023: SCHEDULE OF STOCK OPTION ACTIVITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Number of Options</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Weighted Average Exercise Price</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Outstanding at March 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20230401__20231231__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zSws33rfcit8" style="width: 16%; text-align: right" title="Number of options, beginning outstanding">1,264,890</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20230401__20231231__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zgVLpxYD2Il6" style="width: 16%; text-align: right" title="Weighted average exercise price, beginning outstanding">9.29</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20230401__20231231__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zesMO0sBR1Wa" style="text-align: right" title="Number of options, granted">3,585</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20230401__20231231__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zw5FEWCu5e45" style="text-align: right" title="Weighted average exercise price, granted">2.79</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_pid_c20230401__20231231__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_ztyhT7nEqNt9" style="text-align: right" title="Number of options, exercised">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Expired/Forfeited</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_pid_di_c20230401__20231231__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_znTty3LgOxA6" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of options, expired/forfeited">(28,214</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_pid_c20230401__20231231__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zHHm0yhpIhmk" style="border-bottom: Black 1.5pt solid; text-align: right" title="Weighted average exercise price, expired/forfeited">7.80</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Outstanding at December 31, 2023</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20230401__20231231__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zXEtjiK5I7K7" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options, ending outstanding">1,240,261</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20230401__20231231__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zIGfhybtchtl" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, ending outstanding">9.32</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_899_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zb1D5cSEU8f5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The fair value of each option granted is estimated at the time of grant using multi-nominal lattice model using the following assumptions, for each of the respective nine month periods ended December 31: SCHEDULE OF FAIR VALUE OF OPTION GRANTED USING VALUATION ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Exercise price ($)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2.79</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">4.80</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk free interest rate (%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.85</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.06</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected term (Years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10.0</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.00</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected volatility (%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">117.1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">113.9</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected dividend yield (%)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20230401__20231231_zJyAFba6IzJ6" style="text-align: right" title="Expected dividend yield">0.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20220401__20221231_zqqoFieefo56" style="text-align: right" title="Expected dividend yield">0.00</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Fair value of option ($)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.30</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.92</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected forfeiture (attrition) rate (%)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--ExpectedForfeitureAttritionRates_pid_dp_uPure_c20230401__20231231_zZF4WhZKjaHj" style="text-align: right" title="Expected forfeiture (attrition) rate">0.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_ecustom--ExpectedForfeitureAttritionRates_pid_dp_uPure_c20220401__20221231_zvCS1AAnViyj" style="text-align: right" title="Expected forfeiture (attrition) rate">0.00</td><td style="text-align: left"> </td></tr> </table> 2023 Equity Incentive Plan and the Employee Stock Purchase Plans On March 31, 2023, the Company adopted the 2023 Equity Incentive Plan (the “2023 Plan”). The 2023 Plan authorizes grants of equity-based and incentive cash awards to eligible participants designated by the 2023 Plan’s administrator. The 2023 Plan will be administered by the Compensation Committee of the Company’s Board of Directors (the “Board”). An aggregate of <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20230331__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyThreeEquityIncentivePlanMember_zQDgEH1HvH0g" title="Share based payment award number of shares available for issuance">5,000,000 shares of the Company’s common stock (the “Common Stock”), plus the number of shares available for issuance under the Company’s 2016 Equity Incentive Plan that had not been made subject to outstanding awards, were reserved for issuance under the 2023 Plan. Unless earlier terminated by the Board, the 2023 Plan will remain in effect until all Common Stock reserved for issuance has been issued, provided, however, that all awards shall be granted, if at all, on or before the day immediately preceding the tenth (10th) anniversary of the effective date of the 2023 Plan. The Company also adopted the Employee Stock Purchase Plan (the “ESPP”). The ESPP allows eligible employees of the Company and the Company’s designated subsidiaries the ability to purchase shares of the Company’s Common Stock at a discount, subject to various limitations. Under the ESPP, employees will be granted the right to purchase Common Stock at a discount during a series of successive offerings, the duration and timing of which will be determined by the ESPP administrator (the “Administrator”). In no event can any single offering period be longer than 27 months. The purchase price (the “Purchase Price”) for each offering will be established by the Administrator. With respect to an offering under Section 423 of the Internal Revenue Code of 1986 (“Section 423 Offering”), in no case may such Purchase Price be less than the lesser of (i) an amount equal to 85 percent of the fair market value on the commencement date, or (ii) an amount not less than 85 percent of the fair market value the on the purchase date. In the event of financial hardship, an employee may withdraw from the ESPP by providing a request at least 20 Business Days before the end of the offering period (the “Offering Period”). Otherwise, the employee will be deemed to have exercised the purchase right in full as of such exercise date. Upon exercise, the employee will purchase the number of whole shares that the participant’s accumulated payroll deductions will buy at the Purchase Price. If an employee wants to decrease the rate of contribution, the employee must make a request at least 20 Business Days before the end of an Offering Period (or such earlier date as determined by the Administrator). An employee may not transfer any rights under the ESPP other than by will or the laws of descent and distribution. During a participant’s lifetime, purchase rights under the ESPP shall be exercisable only by the participant. There were no issuances under either the 2023 Plan or the ESPP as of December 31, 2023. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars)

125000000

0.001

10000000

0.001

20000

0.001

600

0.001

9419629

8752505

9258957

8508052

160672

244458

6304

180

Lastly, there is also one share of the Special Voting Preferred Stock issued and outstanding held by one holder of record, which is the Trustee in accordance with the terms of the Trust Agreement and outstanding as at December 31, 2023 and March 31, 2023.

6304

1000

0.12

0.05

0.001

0.15

1.10

220

0.001

9091

1900000

600

10000

0.08 3.50

0.0499

0.199

Holders may elect to convert shares of Series B Preferred Stock to common stock at an alternate conversion price equal to 80% (or 70% if the Company’s common stock is suspended from trading on or delisted from a principal trading market or if the Company has effected a reverse split of the common stock) of the lowest daily volume weighed average price of the common stock during the Alternate Conversion Measuring Period (as defined in the Certificate of Designations). In the event the Company receives a conversion notice that elects an alternate conversion price, the Company may, at its option, elect to satisfy its obligation under such conversion with payment in cash in an amount equal to 110% of the conversion amount.

1.10

562251

228727 119359 <p id="xdx_894_ecustom--ScheduleOfSeriesBPreferredStockForMezzanineEquityTableTextBlock_zC3OQl8I0rra" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"> SCHEDULE OF SERIES B PREFERRED STOCK FOR MEZZANINE EQUITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49A_20230401__20231231_zdefaNBoM4ef" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">2023</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--ConvertiblePreferredStock_iS_zGsTTzjJo0n6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; font-style: italic">Balance beginning of period – March 31</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_zfA5ulnrxFp8" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: left">Net proceeds received pursuant to the issuance of preferred shares</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,900,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--ChangeInFairValueusMeasurementWithReconciliationRecurringBasisLiability_zcC0b4e0NGg5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Recognition of derivative liabilities (Note 8)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(642,417</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_ecustom--ConversionIntoCommonShares_zNxFn9Z7YNJ1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Conversion into common shares</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(228,727</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_ecustom--ConvertiblePreferredStock_iE_zIdxtOEEt99i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; font-style: italic">Balance end of period – December 31</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,028,856</td><td style="text-align: left"> </td></tr> </table>

1900000

-642417 -228727 1028856 36897 123347

119285

20846

47125

45947

67395 406118

302000

104118

457025

50908 6683 1966

42500

12500

695

7500

19608 135274

100000

35274

175294

40020

3796

30287

39808 207002

153600

53402

211602

4600

17544

112631

17544 77300

868098

69062

4.18

2.09

1652572

8972

77414

19714

77332

36464

77780

52083

71768

Warrant activity during the nine months ended December 31, 2023 is indicated below: SCHEDULE OF WARRANTS OUTSTANDING <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" id="xdx_4B2_us-gaap--StatementEquityComponentsAxis_custom--BrokerWarrantsMember_zb7DAaybUt3d" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Broker Warrants</td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" id="xdx_4B2_us-gaap--StatementEquityComponentsAxis_custom--ConsultantWarrantsMember_zYn4qQM9Pfs8" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Consultant and Noteholder Warrants</td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" id="xdx_4B2_us-gaap--StatementEquityComponentsAxis_custom--WarrantsIssuedOnConversionOfConvertibleNotesMember_zkTXR7G8ABni" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Warrants Issued on Convertible Notes</td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" id="xdx_4BD_zTisW7nyy6V6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Total</td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td></tr> <tr id="xdx_437_c20230401__20231231_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_zGLmrjs2cVt5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; padding-left: 0pt">As at March 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">139,865</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">279,341</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">888,277</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">1,307,483</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations_iN_di_zrWGAN7uDNMf" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt">Expired/cancelled</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(25,347</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(25,347</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_di_zvuOSa4IwOrb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt">Exercised</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_zeYkkKnXEOgb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt">Issued</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">69,062</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">868,029</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">937,091</td><td style="text-align: left"> </td></tr> <tr id="xdx_438_c20230401__20231231_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_zanL5k1ev6Ii" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt">As at December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">208,927</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">253,994</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,756,306</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,219,227</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: -10pt">Exercise Price</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"> <span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20231231__us-gaap--StatementEquityComponentsAxis__custom--BrokerWarrantsMember__srt--RangeAxis__srt--MinimumMember_zI8iT8pcdAZf" title="Exercise Price">2.09 to $<span id="xdx_903_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20231231__us-gaap--StatementEquityComponentsAxis__custom--BrokerWarrantsMember__srt--RangeAxis__srt--MaximumMember_zxqdbhnNZA59" title="Exercise Price">37.56 </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"> <span id="xdx_907_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20231231__us-gaap--StatementEquityComponentsAxis__custom--ConsultantWarrantsMember__srt--RangeAxis__srt--MinimumMember_zG1MmqOguiYa" title="Exercise Price">2.69 to $<span id="xdx_905_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20231231__us-gaap--StatementEquityComponentsAxis__custom--ConsultantWarrantsMember__srt--RangeAxis__srt--MaximumMember_z338N7K6xaTh" title="Exercise Price">14.40</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"> <span id="xdx_908_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20231231__us-gaap--StatementEquityComponentsAxis__custom--WarrantsIssuedOnConversionOfConvertibleNotesMember__srt--RangeAxis__srt--MinimumMember_za4mhZry8DDe" title="Exercise Price">6.36 to $<span id="xdx_908_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20231231__us-gaap--StatementEquityComponentsAxis__custom--WarrantsIssuedOnConversionOfConvertibleNotesMember__srt--RangeAxis__srt--MaximumMember_zLFz4VTukDq5" title="Exercise Price">9.00 </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0pt">Expiration Date</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--ClassOfWarrantOrRightReasonForIssuingToNonemployees_c20230401__20231231__us-gaap--StatementEquityComponentsAxis__custom--BrokerWarrantsMember_zlkP2kvWTXp8" title="Expiration Date">August 2026 to October 2033 </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightReasonForIssuingToNonemployees_c20230401__20231231__us-gaap--StatementEquityComponentsAxis__custom--ConsultantWarrantsMember_zDo6YYgmezE5" title="Expiration Date">December 2028 to December 2032</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--ClassOfWarrantOrRightReasonForIssuingToNonemployees_c20230401__20231231__us-gaap--StatementEquityComponentsAxis__custom--WarrantsIssuedOnConversionOfConvertibleNotesMember_zVz9UwDd3dq8" title="Expiration Date">January 2024 to October 2024 </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> </table>

139865

279341

888277

1307483

25347

69062

868029

937091

208927

253994

1756306

2219227

2.09

37.56

2.69

14.40

6.36

9.00

August 2026 to October 2033

December 2028 to December 2032

January 2024 to October 2024

3750000

3585

2325

170140

63125

544655

363372

1043488

960521

The following table summarizes the stock option activities during the nine months ended December 31, 2023: SCHEDULE OF STOCK OPTION ACTIVITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Number of Options</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Weighted Average Exercise Price</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Outstanding at March 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20230401__20231231__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zSws33rfcit8" style="width: 16%; text-align: right" title="Number of options, beginning outstanding">1,264,890</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20230401__20231231__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zgVLpxYD2Il6" style="width: 16%; text-align: right" title="Weighted average exercise price, beginning outstanding">9.29</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20230401__20231231__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zesMO0sBR1Wa" style="text-align: right" title="Number of options, granted">3,585</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20230401__20231231__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zw5FEWCu5e45" style="text-align: right" title="Weighted average exercise price, granted">2.79</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_pid_c20230401__20231231__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_ztyhT7nEqNt9" style="text-align: right" title="Number of options, exercised">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Expired/Forfeited</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_pid_di_c20230401__20231231__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_znTty3LgOxA6" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of options, expired/forfeited">(28,214</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_pid_c20230401__20231231__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zHHm0yhpIhmk" style="border-bottom: Black 1.5pt solid; text-align: right" title="Weighted average exercise price, expired/forfeited">7.80</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Outstanding at December 31, 2023</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20230401__20231231__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zXEtjiK5I7K7" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options, ending outstanding">1,240,261</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20230401__20231231__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zIGfhybtchtl" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, ending outstanding">9.32</td><td style="text-align: left"> </td></tr> </table>

1264890

9.29

3585

2.79

28214

7.80

1240261

9.32

<p id="xdx_899_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zb1D5cSEU8f5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The fair value of each option granted is estimated at the time of grant using multi-nominal lattice model using the following assumptions, for each of the respective nine month periods ended December 31: SCHEDULE OF FAIR VALUE OF OPTION GRANTED USING VALUATION ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Exercise price ($)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2.79</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">4.80</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk free interest rate (%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.85</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.06</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected term (Years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10.0</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.00</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected volatility (%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">117.1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">113.9</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected dividend yield (%)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20230401__20231231_zJyAFba6IzJ6" style="text-align: right" title="Expected dividend yield">0.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20220401__20221231_zqqoFieefo56" style="text-align: right" title="Expected dividend yield">0.00</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Fair value of option ($)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.30</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.92</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected forfeiture (attrition) rate (%)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--ExpectedForfeitureAttritionRates_pid_dp_uPure_c20230401__20231231_zZF4WhZKjaHj" style="text-align: right" title="Expected forfeiture (attrition) rate">0.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_ecustom--ExpectedForfeitureAttritionRates_pid_dp_uPure_c20220401__20221231_zvCS1AAnViyj" style="text-align: right" title="Expected forfeiture (attrition) rate">0.00</td><td style="text-align: left"> </td></tr> </table>

2.79

4.80

0.0385

0.0406

P10Y

P5Y

1.171

1.139

0.0000

2.30

3.92

0.0000 0.0000

5000000

10. OPERATING LEASE RIGHT-OF-USE ASSETS AND LEASE OBLIGATIONS The Company has one operating lease primarily for office and administration. During December 2021, the Company entered into a new lease agreement. The Company paid an $85,000 deposit that would be returned at the end of the lease. In December 2022, the Company started a new lease with an additional suite in the same premise as the existing lease. When measuring the lease obligations, the Company discounted lease payments using its incremental borrowing rate. The weighted-average-rate applied was 11.4% as of December 31, 2023 and March 31, 2023. The weighted average remaining lease term as of December 31, 2023 and March 31, 2023 was 2.9 years and 2.5 years, respectively. SCHEDULE OF OPERATING LEASES OBLIGATIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Right of Use Asset</td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Beginning balance at March 31</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--OperatingLeaseRightOfUseAsset_iS_c20230401__20231231_zG32QSW47dl8" style="width: 16%; text-align: right" title="Operating lease right-of-use asset, beginning balance">1,587,492</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--OperatingLeaseRightOfUseAsset_iS_c20220401__20221231_zQPcMvIleTVd" style="width: 16%; text-align: right" title="Operating lease right-of-use asset, beginning balance">1,242,700</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">New leases</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--OperatingLeaseRightOfUseAssetNewLeases_c20230401__20231231_z80AgnBBp8wf" style="text-align: right" title="Right of use asset, new leases">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--OperatingLeaseRightOfUseAssetNewLeases_c20220401__20221231_zpS44HMzYKTd" style="text-align: right" title="Right of use asset, new leases">685,099</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Amortization</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--OperatingLeaseRightOfUseAssetAmortizationExpense_iN_di_c20230401__20231231_zX5BWiR1QaA1" style="border-bottom: Black 1.5pt solid; text-align: right" title="Right of use asset, amortization">(271,357</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--OperatingLeaseRightOfUseAssetAmortizationExpense_iN_di_c20220401__20221231_z2Ym9hLPEcUb" style="border-bottom: Black 1.5pt solid; text-align: right" title="Right of use asset, amortization">(255,146</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Ending balance at December 31</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_eus-gaap--OperatingLeaseRightOfUseAsset_iE_c20230401__20231231_zRtRzADIb9s1" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease right-of-use asset, ending balance">1,316,135</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_987_eus-gaap--OperatingLeaseRightOfUseAsset_iE_c20220401__20221231_zaV5vDHh7Cyb" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease right-of-use asset, ending balance">1,672,653</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Lease Liability</td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Beginning balance at March 31</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--OperatingLeaseLiability_iS_c20230401__20231231_zpUHZc3HCJJ1" style="width: 16%; text-align: right" title="Operating lease liability, beginning balance">1,722,095</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--OperatingLeaseLiability_iS_c20220401__20221231_zNraUzINZCB" style="width: 16%; text-align: right" title="Operating lease liability, beginning balance">1,330,338</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">New leases</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--OperatingLeaseNewLeases_c20230401__20231231_zdOzBQMPptU5" style="text-align: right" title="Lease liability, new leases">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--OperatingLeaseNewLeases_c20220401__20221231_zHXgTk2NEyU9" style="text-align: right" title="Lease liability, new leases">685,099</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Repayment and interest accretion, net</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_ecustom--OperatingLeaseRepaymentAndInterestAccretion_iN_di_c20230401__20231231_znTspb7ILAP3" style="border-bottom: Black 1.5pt solid; text-align: right" title="Lease liability, repayment and interest accretion, net">(261,072</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98B_ecustom--OperatingLeaseRepaymentAndInterestAccretion_iN_di_c20220401__20221231_zbN5F6SRAxa2" style="border-bottom: Black 1.5pt solid; text-align: right" title="Lease liability, repayment and interest accretion, net">(231,533</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Ending balance at December 31</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--OperatingLeaseLiability_iE_c20230401__20231231_zGHavzo0BrJc" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease liability, ending balance">1,461,023</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_eus-gaap--OperatingLeaseLiability_iE_c20220401__20221231_zjsG5HIRElZk" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease liability, ending balance">1,783,904</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">December 31, 2023</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">March 31, 2023</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Lease Liability</td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Current portion of operating lease liability</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--OperatingLeaseLiabilityCurrent_iI_c20231231_z6r4QPQz0kea" style="width: 16%; text-align: right" title="Current portion of operating lease liability">409,702</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--OperatingLeaseLiabilityCurrent_iI_c20230331_z7YRShPYos3k" style="width: 16%; text-align: right" title="Current portion of operating lease liability">335,608</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Noncurrent portion of operating lease liability</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_c20231231_zCfMBYrt9yY9" style="text-align: right" title="Noncurrent portion of operating lease liability">1,051,321</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_c20230331_zE6qOo6lR3qc" style="text-align: right" title="Noncurrent portion of operating lease liability">1,386,487</td><td style="text-align: left"> </td></tr> </table> The operating lease expense was $<span id="xdx_90B_eus-gaap--OperatingLeaseExpense_c20231001__20231231__us-gaap--IncomeStatementLocationAxis__us-gaap--SellingGeneralAndAdministrativeExpensesMember_zhv0EBvYZM46" title="Operating lease expense">140,759 and $<span id="xdx_905_eus-gaap--OperatingLeaseExpense_c20221001__20221231__us-gaap--IncomeStatementLocationAxis__us-gaap--SellingGeneralAndAdministrativeExpensesMember_zJg7oF4Nf0G8" title="Operating lease expense">53,286 for the three months ended December 31, 2023 and 2022, respectively, and $<span id="xdx_903_eus-gaap--OperatingLeaseExpense_c20230401__20231231__us-gaap--IncomeStatementLocationAxis__us-gaap--SellingGeneralAndAdministrativeExpensesMember_zf4oEu1oqnHh" title="Operating lease expense">420,251 and $<span id="xdx_902_eus-gaap--OperatingLeaseExpense_c20220401__20221231__us-gaap--IncomeStatementLocationAxis__us-gaap--SellingGeneralAndAdministrativeExpensesMember_zxAMyOKalW45" title="Operating lease expense">264,738 during the nine months ended December 31, 2023 and 2022, respectively, and is included in the selling, general and administrative expenses. Operating cash flows from operating leases amounted to 394,214 and $230,076 during the nine months periods ending December 31, 2023 and 2022, respectively. <p id="xdx_89B_ecustom--ScheduleOfContractualUndiscountedCashFlowsForLeaseObligationTableTextBlock_z904qyWG3nh8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following table represents the contractual undiscounted cash flows for lease obligations as of December 31, 2023: SCHEDULE OF CONTRACTUAL UNDISCOUNTED CASH FLOWS FOR LEASE OBLIGATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Calendar year</td><td> </td> <td colspan="2" id="xdx_490_20231231_zd583LVs98M3" style="border-bottom: Black 1.5pt solid; text-align: center">$</td><td> </td></tr> <tr id="xdx_404_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_maLOLLPzTPy_zOEPdXtsitec" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">552,293</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maLOLLPzTPy_zErpqtqlKAyd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">600,288</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_maLOLLPzTPy_z4cMSy6sHszd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2026</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">565,359</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_mtLOLLPzTPy_zcOorNfj59C7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total undiscounted lease liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,717,940</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_z6wpBEDtqc5d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Less imputed interest</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(256,917</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiability_iTI_zuzM1gKJiHG3" style="vertical-align: bottom; background-color: White"> <td>Total</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,461,023</td><td style="text-align: left"> </td></tr> </table> BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars)

85000

0.114

P2Y10M24D

P2Y6M

SCHEDULE OF OPERATING LEASES OBLIGATIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Right of Use Asset</td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Beginning balance at March 31</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--OperatingLeaseRightOfUseAsset_iS_c20230401__20231231_zG32QSW47dl8" style="width: 16%; text-align: right" title="Operating lease right-of-use asset, beginning balance">1,587,492</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--OperatingLeaseRightOfUseAsset_iS_c20220401__20221231_zQPcMvIleTVd" style="width: 16%; text-align: right" title="Operating lease right-of-use asset, beginning balance">1,242,700</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">New leases</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--OperatingLeaseRightOfUseAssetNewLeases_c20230401__20231231_z80AgnBBp8wf" style="text-align: right" title="Right of use asset, new leases">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--OperatingLeaseRightOfUseAssetNewLeases_c20220401__20221231_zpS44HMzYKTd" style="text-align: right" title="Right of use asset, new leases">685,099</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Amortization</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--OperatingLeaseRightOfUseAssetAmortizationExpense_iN_di_c20230401__20231231_zX5BWiR1QaA1" style="border-bottom: Black 1.5pt solid; text-align: right" title="Right of use asset, amortization">(271,357</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--OperatingLeaseRightOfUseAssetAmortizationExpense_iN_di_c20220401__20221231_z2Ym9hLPEcUb" style="border-bottom: Black 1.5pt solid; text-align: right" title="Right of use asset, amortization">(255,146</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Ending balance at December 31</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_eus-gaap--OperatingLeaseRightOfUseAsset_iE_c20230401__20231231_zRtRzADIb9s1" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease right-of-use asset, ending balance">1,316,135</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_987_eus-gaap--OperatingLeaseRightOfUseAsset_iE_c20220401__20221231_zaV5vDHh7Cyb" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease right-of-use asset, ending balance">1,672,653</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Lease Liability</td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Beginning balance at March 31</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--OperatingLeaseLiability_iS_c20230401__20231231_zpUHZc3HCJJ1" style="width: 16%; text-align: right" title="Operating lease liability, beginning balance">1,722,095</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--OperatingLeaseLiability_iS_c20220401__20221231_zNraUzINZCB" style="width: 16%; text-align: right" title="Operating lease liability, beginning balance">1,330,338</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">New leases</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--OperatingLeaseNewLeases_c20230401__20231231_zdOzBQMPptU5" style="text-align: right" title="Lease liability, new leases">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--OperatingLeaseNewLeases_c20220401__20221231_zHXgTk2NEyU9" style="text-align: right" title="Lease liability, new leases">685,099</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Repayment and interest accretion, net</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_ecustom--OperatingLeaseRepaymentAndInterestAccretion_iN_di_c20230401__20231231_znTspb7ILAP3" style="border-bottom: Black 1.5pt solid; text-align: right" title="Lease liability, repayment and interest accretion, net">(261,072</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98B_ecustom--OperatingLeaseRepaymentAndInterestAccretion_iN_di_c20220401__20221231_zbN5F6SRAxa2" style="border-bottom: Black 1.5pt solid; text-align: right" title="Lease liability, repayment and interest accretion, net">(231,533</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Ending balance at December 31</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--OperatingLeaseLiability_iE_c20230401__20231231_zGHavzo0BrJc" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease liability, ending balance">1,461,023</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_eus-gaap--OperatingLeaseLiability_iE_c20220401__20221231_zjsG5HIRElZk" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease liability, ending balance">1,783,904</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">December 31, 2023</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">March 31, 2023</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Lease Liability</td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Current portion of operating lease liability</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--OperatingLeaseLiabilityCurrent_iI_c20231231_z6r4QPQz0kea" style="width: 16%; text-align: right" title="Current portion of operating lease liability">409,702</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--OperatingLeaseLiabilityCurrent_iI_c20230331_z7YRShPYos3k" style="width: 16%; text-align: right" title="Current portion of operating lease liability">335,608</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Noncurrent portion of operating lease liability</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_c20231231_zCfMBYrt9yY9" style="text-align: right" title="Noncurrent portion of operating lease liability">1,051,321</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_c20230331_zE6qOo6lR3qc" style="text-align: right" title="Noncurrent portion of operating lease liability">1,386,487</td><td style="text-align: left"> </td></tr> </table>

1587492

1242700

685099

271357

255146

1316135

1672653

1722095

1330338

685099 261072 231533

1461023

1783904

409702

335608

1051321

1386487

140759

53286

420251

264738

394214

230076

<p id="xdx_89B_ecustom--ScheduleOfContractualUndiscountedCashFlowsForLeaseObligationTableTextBlock_z904qyWG3nh8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following table represents the contractual undiscounted cash flows for lease obligations as of December 31, 2023: SCHEDULE OF CONTRACTUAL UNDISCOUNTED CASH FLOWS FOR LEASE OBLIGATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Calendar year</td><td> </td> <td colspan="2" id="xdx_490_20231231_zd583LVs98M3" style="border-bottom: Black 1.5pt solid; text-align: center">$</td><td> </td></tr> <tr id="xdx_404_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_maLOLLPzTPy_zOEPdXtsitec" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">552,293</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maLOLLPzTPy_zErpqtqlKAyd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">600,288</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_maLOLLPzTPy_z4cMSy6sHszd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2026</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">565,359</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_mtLOLLPzTPy_zcOorNfj59C7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total undiscounted lease liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,717,940</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_z6wpBEDtqc5d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Less imputed interest</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(256,917</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiability_iTI_zuzM1gKJiHG3" style="vertical-align: bottom; background-color: White"> <td>Total</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,461,023</td><td style="text-align: left"> </td></tr> </table>

552293

600288

565359

1717940

256917

1461023

11. COMMITMENTS AND CONTINGENCIES There are no claims against the Company that were assessed as significant, which were outstanding as at December 31, 2023 or March 31, 2023 and, consequently, no provision for such has been recognized in the condensed consolidated financial statements.

12. PROPERTY AND EQUIPMENT During the three and nine months ended December 31, 2023 and 2022, the Company did not purchase any property and equipment. The Company recognized depreciation expense for these assets in the amount of $1,489 during the three months ended December 31, 2023 and 2022, and $4,465 during the nine months ended December 2023 and 2022. SCHEDULE OF PROPERTY AND EQUIPMENT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Cost</td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Office equipment</td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Leasehold improvement</td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Total</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">$</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">$</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">$</td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Balance at March 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentGross_iS_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zUHJZTW7vI1" style="width: 14%; text-align: right" title="Cost, beginning balance">16,839</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentGross_iS_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_z7l0d3UgBCS7" style="width: 14%; text-align: right" title="Cost, beginning balance">12,928</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--PropertyPlantAndEquipmentGross_iS_c20230401__20231231_z7ASvicmHTyf" style="width: 14%; text-align: right" title="Cost, beginning balance">29,767</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--PropertyPlantAndEquipmentAdditions_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zpZB6WsHI5n" style="text-align: right" title="Office equipment, additions">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentAdditions_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zj7RgYDgRMZg" style="text-align: right" title="Leasehold improvement, additions">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentAdditions_c20230401__20231231_zCzB7ajySjOc" style="text-align: right" title="Additions">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Disposals</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentDisposals_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_z6FsxQNmiNkg" style="border-bottom: Black 1.5pt solid; text-align: right" title="Office equipment, disposals">—</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td id="xdx_987_eus-gaap--PropertyPlantAndEquipmentDisposals_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zDuXh7X03ORg" style="border-bottom: Black 1.5pt solid; text-align: right" title="Leasehold improvement, disposals">—</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td id="xdx_98E_eus-gaap--PropertyPlantAndEquipmentDisposals_c20230401__20231231_zQ9QOmbQtDEl" style="border-bottom: Black 1.5pt solid; text-align: right" title="Cost,Disposals">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Balance at December 31, 2023</td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentGross_iE_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zKXTTTz9iD2l" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right" title="Cost, ending balance">16,839</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentGross_iE_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zbLSE6FXISi8" style="border-bottom: Black 1.5pt solid; text-align: right" title="Cost, ending balance">12,928</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td id="xdx_988_eus-gaap--PropertyPlantAndEquipmentGross_iE_c20230401__20231231_zCXCASwPsFSh" style="border-bottom: Black 1.5pt solid; text-align: right" title="Cost, ending balance">29,767</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Accumulated depreciation</td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Office equipment</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Leasehold improvement</td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Balance at March 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iS_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zhw63uD8cZBc" style="width: 14%; text-align: right" title="Accumulated depreciation, beginning balance">4,675</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iS_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zKbznMjtQB6c" style="width: 14%; text-align: right" title="Accumulated depreciation, beginning balance">3,586</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iS_c20230401__20231231_zqhVSvQgcVCf" style="width: 14%; text-align: right" title="Accumulated depreciation, beginning balance">8,261</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Depreciation for the period</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--Depreciation_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zHvUQ7SjGgKd" style="text-align: right" title="Office equipment, depreciation">2,526</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--Depreciation_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zBlFsy6YxTL4" style="text-align: right" title="Leasehold improvement, depreciation">1,939</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--Depreciation_c20230401__20231231_zd26i2PhPieg" style="text-align: right" title="Depreciation">4,465</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Disposals</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationSaleOfPropertyPlantAndEquipment1_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_z9J7NehwmlB" style="border-bottom: Black 1.5pt solid; text-align: right" title="Office equipment, disposals">—</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationSaleOfPropertyPlantAndEquipment1_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zL4ponkrQRCf" style="border-bottom: Black 1.5pt solid; text-align: right" title="Leasehold improvement, disposals">—</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationSaleOfPropertyPlantAndEquipment1_c20230401__20231231_zKx18rS8Rm86" style="border-bottom: Black 1.5pt solid; text-align: right" title="Accumulated depreciation, Disposals">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Balance at December 31, 2023</td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_985_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iE_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zTmjnziBzfW7" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right" title="Accumulated depreciation, ending balance">7,201</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iE_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zHjjTLe0Mydc" style="border-bottom: Black 1.5pt solid; text-align: right" title="Accumulated depreciation, ending balance">5,525</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_982_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iE_c20230401__20231231_zArk2aePRux9" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right" title="Accumulated depreciation, ending balance">12,726</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Net book value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance at March 31, 2023</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentNet_iS_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zdGDC8ry7Qt6" style="border-bottom: Black 1.5pt solid; text-align: right" title="Net book value, beginning balance">12,164</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentNet_iS_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zpc9LkL5lBg3" style="border-bottom: Black 1.5pt solid; text-align: right" title="Net book value, beginning balance">9,342</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentNet_iS_c20230401__20231231_zeGB8VkhrDsd" style="border-bottom: Black 1.5pt solid; text-align: right" title="Net book value, beginning balance">21,506</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Balance at December 31, 2023</td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_98E_eus-gaap--PropertyPlantAndEquipmentNet_iE_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_ziUlaFuxDjog" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right" title="Net book value, ending balance">9,638</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentNet_iE_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zFlBrRhxSHrd" style="border-bottom: Black 1.5pt solid; text-align: right" title="Net book value, ending balance">7,403</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_98C_eus-gaap--PropertyPlantAndEquipmentNet_iE_c20230401__20231231_zQv2PQXAZzZ6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right" title="Net book value, ending balance">17,041</td><td style="font-weight: bold; text-align: left"> </td></tr> </table>

1489

4465

SCHEDULE OF PROPERTY AND EQUIPMENT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Cost</td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Office equipment</td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Leasehold improvement</td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Total</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">$</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">$</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">$</td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Balance at March 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentGross_iS_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zUHJZTW7vI1" style="width: 14%; text-align: right" title="Cost, beginning balance">16,839</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentGross_iS_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_z7l0d3UgBCS7" style="width: 14%; text-align: right" title="Cost, beginning balance">12,928</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--PropertyPlantAndEquipmentGross_iS_c20230401__20231231_z7ASvicmHTyf" style="width: 14%; text-align: right" title="Cost, beginning balance">29,767</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--PropertyPlantAndEquipmentAdditions_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zpZB6WsHI5n" style="text-align: right" title="Office equipment, additions">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentAdditions_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zj7RgYDgRMZg" style="text-align: right" title="Leasehold improvement, additions">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentAdditions_c20230401__20231231_zCzB7ajySjOc" style="text-align: right" title="Additions">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Disposals</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentDisposals_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_z6FsxQNmiNkg" style="border-bottom: Black 1.5pt solid; text-align: right" title="Office equipment, disposals">—</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td id="xdx_987_eus-gaap--PropertyPlantAndEquipmentDisposals_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zDuXh7X03ORg" style="border-bottom: Black 1.5pt solid; text-align: right" title="Leasehold improvement, disposals">—</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td id="xdx_98E_eus-gaap--PropertyPlantAndEquipmentDisposals_c20230401__20231231_zQ9QOmbQtDEl" style="border-bottom: Black 1.5pt solid; text-align: right" title="Cost,Disposals">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Balance at December 31, 2023</td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentGross_iE_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zKXTTTz9iD2l" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right" title="Cost, ending balance">16,839</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentGross_iE_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zbLSE6FXISi8" style="border-bottom: Black 1.5pt solid; text-align: right" title="Cost, ending balance">12,928</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td id="xdx_988_eus-gaap--PropertyPlantAndEquipmentGross_iE_c20230401__20231231_zCXCASwPsFSh" style="border-bottom: Black 1.5pt solid; text-align: right" title="Cost, ending balance">29,767</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Accumulated depreciation</td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Office equipment</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Leasehold improvement</td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Balance at March 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iS_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zhw63uD8cZBc" style="width: 14%; text-align: right" title="Accumulated depreciation, beginning balance">4,675</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iS_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zKbznMjtQB6c" style="width: 14%; text-align: right" title="Accumulated depreciation, beginning balance">3,586</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iS_c20230401__20231231_zqhVSvQgcVCf" style="width: 14%; text-align: right" title="Accumulated depreciation, beginning balance">8,261</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Depreciation for the period</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--Depreciation_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zHvUQ7SjGgKd" style="text-align: right" title="Office equipment, depreciation">2,526</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--Depreciation_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zBlFsy6YxTL4" style="text-align: right" title="Leasehold improvement, depreciation">1,939</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--Depreciation_c20230401__20231231_zd26i2PhPieg" style="text-align: right" title="Depreciation">4,465</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Disposals</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationSaleOfPropertyPlantAndEquipment1_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_z9J7NehwmlB" style="border-bottom: Black 1.5pt solid; text-align: right" title="Office equipment, disposals">—</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationSaleOfPropertyPlantAndEquipment1_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zL4ponkrQRCf" style="border-bottom: Black 1.5pt solid; text-align: right" title="Leasehold improvement, disposals">—</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationSaleOfPropertyPlantAndEquipment1_c20230401__20231231_zKx18rS8Rm86" style="border-bottom: Black 1.5pt solid; text-align: right" title="Accumulated depreciation, Disposals">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Balance at December 31, 2023</td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_985_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iE_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zTmjnziBzfW7" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right" title="Accumulated depreciation, ending balance">7,201</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iE_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zHjjTLe0Mydc" style="border-bottom: Black 1.5pt solid; text-align: right" title="Accumulated depreciation, ending balance">5,525</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_982_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iE_c20230401__20231231_zArk2aePRux9" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right" title="Accumulated depreciation, ending balance">12,726</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Net book value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance at March 31, 2023</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentNet_iS_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zdGDC8ry7Qt6" style="border-bottom: Black 1.5pt solid; text-align: right" title="Net book value, beginning balance">12,164</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentNet_iS_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zpc9LkL5lBg3" style="border-bottom: Black 1.5pt solid; text-align: right" title="Net book value, beginning balance">9,342</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentNet_iS_c20230401__20231231_zeGB8VkhrDsd" style="border-bottom: Black 1.5pt solid; text-align: right" title="Net book value, beginning balance">21,506</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Balance at December 31, 2023</td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_98E_eus-gaap--PropertyPlantAndEquipmentNet_iE_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_ziUlaFuxDjog" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right" title="Net book value, ending balance">9,638</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentNet_iE_c20230401__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zFlBrRhxSHrd" style="border-bottom: Black 1.5pt solid; text-align: right" title="Net book value, ending balance">7,403</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_98C_eus-gaap--PropertyPlantAndEquipmentNet_iE_c20230401__20231231_zQv2PQXAZzZ6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right" title="Net book value, ending balance">17,041</td><td style="font-weight: bold; text-align: left"> </td></tr> </table>

16839

12928

29767

16839

12928

29767

4675

3586

8261

2526

1939

4465

7201

5525

12726

12164

9342

21506

9638

7403

17041

13. OTHER (EXPENSE) INCOME During the three months ended December 31, 2023 and 2022, we recognized $11,004 of other income compared to $119,880 other expense, respectively. During the nine months ended December 31, 2023 and 2022, we recognized $118,941 other expense compared to $116,989 other expense, respectively. During the three and nine months ended December 31, Other (expense) income is comprised of the following: SCHEDULE OF OTHER EXPENSE INCOME <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20231001__20231231_zh3LigpTJksh" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_498_20221001__20221231_zfqRoM7ovpJk" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_497_20230401__20231231_zhxu3U7zQGn9" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20220401__20221231_z9sRsYWr6YRe" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Three Months Ended</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Nine Months Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">$</td><td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">$</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--FinancingIncomeContainedInOurRevenueContracts_zxBTPBkgEpNf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 32%; text-align: left">Financing income contained in our revenue contracts</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right">11,004</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right">6,278</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right">40,220</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right">9,169</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--ExpenseFromNoteModifications_zWDh2XyMSrwi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expense from note modifications</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(126,158</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(59,161</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(126,158</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_ecustom--TransactionExpenseOnSeriesBPreferredShareIssuance_zyTwmruIAZU5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Transaction expense on the Series B preferred share issuance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(100,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OtherNonoperatingIncomeExpense_zoS1QOnzvMXl" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Other (expense) income</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">11,004</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(119,880</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(118,941</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(116,989</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td></tr> </table>

11004

-119880

-118941

-116989

SCHEDULE OF OTHER EXPENSE INCOME <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20231001__20231231_zh3LigpTJksh" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_498_20221001__20221231_zfqRoM7ovpJk" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_497_20230401__20231231_zhxu3U7zQGn9" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20220401__20221231_z9sRsYWr6YRe" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Three Months Ended</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Nine Months Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">$</td><td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">$</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--FinancingIncomeContainedInOurRevenueContracts_zxBTPBkgEpNf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 32%; text-align: left">Financing income contained in our revenue contracts</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right">11,004</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right">6,278</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right">40,220</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right">9,169</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--ExpenseFromNoteModifications_zWDh2XyMSrwi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expense from note modifications</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(126,158</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(59,161</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(126,158</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_ecustom--TransactionExpenseOnSeriesBPreferredShareIssuance_zyTwmruIAZU5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Transaction expense on the Series B preferred share issuance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(100,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OtherNonoperatingIncomeExpense_zoS1QOnzvMXl" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Other (expense) income</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">11,004</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(119,880</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(118,941</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(116,989</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td></tr> </table>

11004 6278 40220 9169 -126158 -59161 -126158 -100000

11004

-119880

-118941

-116989

14. SUBSEQUENT EVENTS The Company’s management has evaluated subsequent events during the period from January 1 to February 20, 2024, the date the condensed consolidated financial statements were issued, pursuant to the requirements of ASC 855, and has determined the following material subsequent events: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">During January 2024, the Company issued a further $<span id="xdx_906_eus-gaap--DebtInstrumentFaceAmount_iI_c20240131__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zgsV22oYUGv5" title="Debt face value">114,303 (face value) convertible notes to an investor. The notes mature <span id="xdx_906_eus-gaap--DebtInstrumentTerm_dc_c20240101__20240131__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zDBwFJ1s4vf2" title="Debt mature issuance">one year from the issue date of and accrue interest at <span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20240131__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_z8cCKkVisROe" title="Debt instrument interest rate">10% per annum.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">During February 2024, the Company borrowed $<span id="xdx_905_eus-gaap--ShortTermBorrowings_iI_c20240229__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember_zZlyUfKfOxwk" title="Borrowings">665,000 against $<span id="xdx_900_ecustom--RemainingBorrowingDebt_iI_c20240229__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--DebtInstrumentAxis__custom--ShortTermBridgeLoanAgreementMember__dei--LegalEntityAxis__custom--CollateralizedMerchantFinanceCompanyMember_zwCBL4VGvbC8" title="Future receipts">844,200 in future receipts, as a a short-term bridge loan with a collateralized merchant finance company.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">During February 2024, the Company borrowed $<span id="xdx_906_eus-gaap--ProceedsFromUnsecuredNotesPayable_c20240201__20240229__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z5vUogwcVRU" title="Unsecured promissory notes, borrowings">205,000 in unsecured promissory notes, with a one-year term and an interest rate of 10%.</td></tr> </table>

114303

P1Y

0.10

665000

844200

205000

0.10

The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying options and the fair value of our common stock as of March 31, 2023 and 2022 of $0.47 and $2.27 per share, respectively.