STOCKHOLDERS’ DEFICIENCY AND MEZZANINE EQUITY (Tables)

12 Months Ended

Mar. 31, 2024

Equity [Abstract]

SCHEDULE OF SERIES B PREFERRED STOCK FOR MEZZANINE EQUITY

A roll-forward of activity is presented below for the year ended March 31, 2024:

	2024
	$
Balance beginning of year – March 31		—
Net proceeds received pursuant to the issuance of preferred shares		2,825,000
Recognition of derivative liabilities (Note 8)		(964,446	)
Conversion into common shares		(371,634	)
Balance end of year – March 31		1,488,920

SCHEDULE OF WARRANTS OUTSTANDING

Warrant activity during the years ended March 31, 2024 and 2023 is indicated below:

	Broker Warrants			Consultant and Noteholder Warrants			Warrants Issued on Convertible Notes			Total
As at March 31, 2022		146,054			300,456			1,202,006			1,648,516
Expired/cancelled		(6,189	)		(86,264	)		(260,663	)		(353,116	)
Exercised		—			—			(53,066	)		(53,066	)
Issued		—			65,149			—			65,149
As at March 31, 2023		139,865			279,341			888,277			1,307,483
Expired/cancelled		—			(25,347	)		(888,277	)		(913,624	)
Issued		69,062			—			868,098			937,160
As at March 31, 2024		208,927			253,994			868,098			1,331,019
Exercise Price		$ 2.09 to $22.50			$ 2.69 to $14.40		$	4.18
Expiration Date		August 2026 to October 2033			March 2029 to Dec 2032			October 2027

SCHEDULE OF STOCK OPTION ACTIVITIES

The following table summarizes the stock option activities during the fiscal year ended March 31, 2024:

	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value(1)
Outstanding at March 31, 2023		1,264,890		$	9.29		6.30	$	8,185,321
Adjustment for rounding effect of Reverse Split		12,655			-		-		-
Granted		7,210		$	2.77		9.01		-
Expired		(39,520	)	$	3.89		3.76		-
Forfeited		(5,362	)	$	12.30		8.85		-
Outstanding at March 31, 2024		1,239,873		$	9.39		5.35	$	9,705,937
Vested and expected to vest at March 31, 2024		1,239,873		$	9.32		5.35	$	9,806,024
Vested and exercisable at March 31, 2024		1,134,642		$	9.62		5.10	$	9,320,582

⁽¹⁾ 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, 2024 and fair value of common stock adjusted for the Reverse Split as of March 31, 2023 of $1.48 and $2.81 per share, respectively.

The following table summarizes the stock option activities during the fiscal year ended March 31, 2023:

	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value(1)
Outstanding at March 31, 2022		1,235,192		$	14.08		5.75	$	567,694
Granted		285,657		$	6.60		9.95		-
Exercised		(374	)		4.44		-
Expired		(222,331	)	$	30.69		4.83		-
Forfeited		(33,254	)	$	6.50		6.86		-
Outstanding at March 31, 2023		1,264,890		$	9.29		6.30	$	8,185,321
Vested and expected to vest at March 31, 2023		1,264,890		$	9.29		6.30	$	8,185,321
Vested and exercisable at March 31, 2023		960,521		$	10.10		5.54	$	1,165,124

⁽¹⁾ 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 fair value of common stock adjusted for the Reverse Split as of March 31, 2022 of $2.81 and $13.62 per share, respectively.

SCHEDULE OF FAIR VALUE OF OPTION GRANTED USING VALUATION ASSUMPTIONS

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:

	2024		2023
Exercise price ($)		2.78		2.7 – 13.62
Risk free interest rate (%)		3.85		2.20 – 4.40
Expected term (Years)		10.0		10.0
Expected volatility (%)		117.1		71 – 121.2
Expected dividend yield (%)		0.00		0.00
Fair value of option ($)		2.3		2.16 – 11.97
Expected forfeiture (attrition) rate (%)		0.00		0.00