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Consolidated Balance Sheets - CAD ($)
$ in Thousands
May 31, 2024
May 31, 2023
Current assets:    
Cash and cash equivalents $ 1,816 $ 228
Prepaid expenses 2,431 3
Other receivables 417 15
Total current assets 4,664 246
Finance lease assets 21
Operating lease assets 75 121
Property and equipment, net 205 52
Total Assets 4,944 440
Current liabilities:    
Accounts payable 715 172
Accrued liabilities 574 48
Finance lease liabilities 3
Operating lease liabilities 44 46
Term loan 40
Promissory note payable 37
Convertible debentures 1,142
Total current liabilities 1,333 1,488
Warrant liabilities 576
Promissory note payable 263
Operating lease liabilities 30 74
Total Liabilities 22,877 1,825
Shareholders’ Equity (Deficit):    
Class A ordinary shares, no par value; 100,000,000 shares authorized; 18,607,931 issued and outstanding (5,075,420 as of May 31, 2023) 74,406 5,083
Additional paid-in capital (77,656) 55
Accumulated deficit (14,683) (6,523)
Total Shareholders’ Deficit (17,933) (1,385)
Total Liabilities and Shareholders’ (Deficit) 4,944 440
Forward Purchase Agreement    
Current liabilities:    
Forward Purchase Agreement $ 20,938