DERIVATIVE LIABILITIES

12 Months Ended

Mar. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE LIABILITIES

8. DERIVATIVE LIABILITIES

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.

	Fiscal Year 2024 $			Fiscal Year 2023 $
Derivative liabilities, beginning of year		759,065			352,402
New issuance [Note 9]		964,446			-
Change in fair value of derivatives during the year		(92,961	)		459,699
Reduction due to preferred shares redeemed [Note 9]		(194,882	)		(53,036	)
Derivative liabilities, end of year		1,435,668			759,065

BIOTRICITY INC.

Notes to Consolidated Financial Statements

Years ended March 31, 2024 and 2023

(Expressed in US Dollars)

The lattice methodology was used to value the derivative components, using the following assumptions:

	Fiscal Year		Fiscal Year
	2024		2023
Dividend yield (%)		12		12
Risk-free rate for term (%)		4.7 – 13.7		1.90 – 4.40
Volatility (%)		71.9 – 119.1		82.2 – 108.2
Remaining terms (Years)		0.25 – 2.01		0.5 – 1.12
Stock price ($ per share)		0.98 – 3.82		2.76 – 10.62

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.

	Fiscal Year 2024 $			Fiscal Year 2023 $
Balance beginning of year		1,008,216			520,747
New Issuance		1,224,932			685,417
Conversion to common shares		(45,680	)		(192,794	)
Change in fair value of derivative liabilities		83,184			24,174
End of derivative treatment of warrants		(1,278,786	)		-
Convertible note modification		-			14,082
Convertible note redemption		-			(43,410	)
Balance end of year		991,866			1,008,216

The Monte-Carlo methodology was used to value the convertible note and warrant derivative components, using the following assumptions:

	Fiscal Year		Fiscal Year
	2024		2023
Risk-free rate for term (%)		4.2 – 5.3		4.10 – 4.70
Volatility (%)		76.2 – 126.6		92.2 – 94.5
Remaining terms (Years)		0.25 – 1.49		1.34 – 1.59
Stock price ($ per share)		1.08 – 4.20		2.76 – 4.68