OPERATING LEASE RIGHT-OF-USE ASSETS AND LEASE OBLIGATIONS

6 Months Ended

Sep. 30, 2024

Operating Lease Right-of-use Assets And Lease Obligations

OPERATING LEASE RIGHT-OF-USE ASSETS AND LEASE OBLIGATIONS

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 $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%.

	Fiscal Year 2024			Fiscal Year 2023
Right of Use Asset	$			$
Beginning balance at March 31		1,221,593			1,587,492
New leases		—			—
Amortization		(198,275	)		(178,320	)
Ending balance at September 30		1,023,318			1,409,172

	2024			2023
Lease Liability	$			$
Beginning balance at March 31		1,386,486			1,722,095
New leases		—			—
Repayment and interest accretion, net		(219,283	)		(190,864	)
Ending balance at September 30		1,167,203			1,531,231

BIOTRICITY INC.

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2024 (Unaudited)

(Expressed in US dollars)

	September 30, 2024		March 31, 2024
Lease Liability	$		$
Current portion of operating lease liability		493,190		457,371
Noncurrent portion of operating lease liability		674,013		929,115

The operating lease expense was $292,787 for the six months ended September 30, 2024 (2023: $140,759) and included in the selling, general and administrative expenses. Operating cash flows from operating leases amounted to $218,448 and $282,209 during the six months ended September 30, 2024 and September 30, 2023, respectively.

The following table represents the contractual undiscounted cash flows for lease obligations as at September 30, 2024:

Calendar year	$
2024		552,293
2025		600,288
2026		565,359
Total undiscounted lease liability		1,717,940
Less imputed interest		(550,737	)
Total		1,167,203