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Consolidated Statements of Cash Flows - CAD ($)
$ in Thousands
12 Months Ended
May 31, 2024
May 31, 2023
Cash Flows used in Operating Activities:    
Net Loss $ (8,160) $ (1,247)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 56 27
Non-cash lease expense 56
Stock-based compensation 66 55
Non-cash interest 196 57
Change in fair value of Forward Purchase Agreement 4,342
Change in Warrant liability (394)
Changes in operating assets and liabilities:    
Prepaid expenses 278
Other receivables (402) (15)
Accounts payable 184 36
Accrued liabilities 526 (2)
Operating leases (54)
Net cash used in operating activities (3,308) (1,087)
Cash Flows used in Investing Activities:    
Purchase of property and equipment (209)
Net cash used in investing activities (209)
Cash Flows from Financing Activities:    
Finance lease payments 18 (19)
Proceeds from issuance of Convertible debentures 6,700 1,035
Outflow from Business Combination (1,573)
Proceeds from issuance of note payable 300
Repayment of Shareholder loans (5)
Repayment of Term loan (40)
Net cash provided by financing activities 5,105 1,311
Net Change in Cash and Cash Equivalents 1,588 224
Cash and Cash Equivalents - Beginning of year 228 4
Cash and Cash Equivalents - End of year 1,816 228
Supplemental cash flow information    
Conversion of Convertible debentures 1,496
Taxes paid
Interest paid 23 14
Settlement of Shareholder Advances $ 1,979