Biotricity (BTCY) 10-Q 20 Feb 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Dec. 31, 2023	Feb. 20, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--03-31
Entity File Number	001-40761
Entity Registrant Name	BIOTRICITY INC.
Entity Central Index Key	0001630113
Entity Tax Identification Number	30-0983531
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	203 Redwood Shores Parkway
Entity Address, Address Line Two	Suite 600
Entity Address, City or Town	Redwood City
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94065
City Area Code	(800)
Local Phone Number	590 4155
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	BTCY
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		9,258,957

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Dec. 31, 2023	Mar. 31, 2023
CURRENT ASSETS
Cash	$ 85,094	$ 570,460
Accounts receivable, net	1,573,583	1,224,137
Inventories [Note 3]	2,048,910	2,337,006
Deposits and other receivables	224,895	588,599
Total current assets	3,932,482	4,720,202
Deposits [Note 10]	85,000	85,000
Long-term accounts receivable	135,560	96,344
Property and equipment [Note 12]	17,041	21,506
Operating right of use assets [Note 10]	1,316,135	1,587,492
TOTAL ASSETS	5,486,218	6,510,544
CURRENT LIABILITIES
Accounts payable and accrued liabilities [Note 4]	7,558,745	5,042,476
Convertible promissory notes and short term loans [Note 5]	7,922,097	4,774,468
Term loan, current [Note 6]	1,800,000
Derivative liabilities [Note 8]	928,333	1,008,216
Operating lease obligations, current [Note 10]	409,702	335,608
Total current liabilities	18,618,877	11,160,768
Federally guaranteed loans [Note 7]	870,800	870,800
Term loan [Note 6]	10,533,425	12,178,809
Derivative liabilities [Note 8]	1,139,293	759,065
Operating lease obligations [Note 10]	1,051,321	1,386,487
TOTAL LIABILITIES	32,213,716	26,355,929
STOCKHOLDERS’ DEFICIENCY
Common stock, $0.001 par value, 125,000,000 shares authorized as of December 31, 2023 and March 31, 2023. Issued and outstanding common shares: 9,258,957 and 8,508,052 as of December 31, 2023 and March 31, 2023, respectively, and exchangeable shares of 160,672 and 244,458 outstanding as at December 31, 2023 and March 31, 2023, respectively [Note 9]	9,420	8,753
Shares to be issued, 3,955 shares of common stock as of December 31, 2023 and March 31, 2023 [Note 9]	24,999	24,999
Additional paid-in-capital	95,560,789	92,844,478
Accumulated other comprehensive income/(loss)	(251,888)	(152,797)
Accumulated deficit	(123,099,681)	(112,570,825)
TOTAL STOCKHOLDERS’ DEFICIENCY	(27,756,354)	(19,845,385)
TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS’ DEFICIENCY	5,486,218	6,510,544
Serie B Convertible Redeemable Preferred Stock [Member]
Mezzanine Equity
Series B Convertible Redeemable preferred stock, $0.001 par value, 600 and no shares authorized as of December 31, 2023 and March 31, 2023, respectively, 220 and no shares issued and outstanding as of December 31, 2023 and March 31, 2023, respectively [Note 9]	1,028,856
Preferred Stock [Member]
STOCKHOLDERS’ DEFICIENCY
Preferred stock, value	1	1
Series A Preferred Stock [Member]
STOCKHOLDERS’ DEFICIENCY
Preferred stock, value	$ 6	$ 6

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2023	Mar. 31, 2023
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	125,000,000	125,000,000
Common stock, shares issued	9,258,957	8,508,052
Common stock, shares outstanding	9,258,957	8,508,052
Common stock, other shares outstanding	160,672	244,458
Common stock shares to be issued	3,955	3,955
Serie B Convertible Redeemable Preferred Stock [Member]
Series B converible redeemable preferred stock, par value	$ 0.001	$ 0.001
Series B converible redeemable preferred stock, authorized	600	0
Series B converible redeemable preferred stock, shares issued	220	0
Series B converible redeemable preferred stock, shares outstanding	220	0
Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	9,979,400	9,980,000
Preferred stock, shares issued	1	1
Preferred stock, shares outstanding	1	1
Series A Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	20,000	20,000
Preferred stock, shares issued	6,304	6,304
Preferred stock, shares outstanding	6,304	6,304

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
REVENUE	$ 2,972,972	$ 2,459,181	$ 8,885,034	$ 6,896,622
Cost of Revenue	804,986	1,057,215	2,801,066	2,989,290
NET REVENUE	2,167,986	1,401,966	6,083,968	3,907,332
EXPENSES
Selling. general and administrative expenses	2,996,804	4,363,964	10,004,350	13,336,888
Research and development expenses	452,956	876,460	1,863,551	2,526,550
TOTAL OPERATING EXPENSES	3,449,760	5,240,424	11,867,901	15,863,438
LOSS FROM OPERATIONS	(1,281,774)	(3,838,458)	(5,783,933)	(11,956,106)
Interest expense [Note 5, 6 and 9]	(790,080)	(413,402)	(2,203,860)	(1,205,342)
Accretion and amortization expenses [Note 5,6]	(422,706)	(51,061)	(1,576,345)	(151,970)
Change in fair value of derivative liabilities [Note 8]	(326,683)	(99,705)	(244,014)	(469,971)
Gain (loss) upon convertible promissory notes conversion and redemption	2,148	5,391	15,280	(85,537)
Other (expense) income [Note 13]	11,004	(119,880)	(118,941)	(116,989)
NET LOSS BEFORE INCOME TAXES	(2,808,091)	(4,517,115)	(9,911,813)	(13,985,915)
Income taxes
NET LOSS BEFORE DIVIDENDS	(2,808,091)	(4,517,115)	(9,911,813)	(13,985,915)
Adjustment: Preferred Stock Dividends	(237,904)	(230,374)	(617,043)	(690,330)
NET LOSS ATTRIBUTABLE TO COMMON STOCKLHOLDERS	(3,045,995)	(4,747,489)	(10,528,856)	(14,676,245)
Translation adjustment	(204,501)	(72,823)	(99,091)	625,698
COMPREHENSIVE LOSS	$ (3,250,496)	$ (4,820,312)	$ (10,627,947)	$ (14,050,547)
LOSS PER SHARE, BASIC	$ (0.339)	$ (0.546)	$ (1.191)	$ (1.699)
LOSS PER SHARE, DILUTED	$ (0.339)	$ (0.546)	$ (1.191)	$ (1.699)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC	8,979,430	8,690,506	8,842,890	8,635,900
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - DILUTED	8,979,430	8,690,506	8,842,890	8,635,900

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Deficiency (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Balance	$ (26,729,036)	$ (10,623,636)	$ (19,845,385)	$ (2,144,736)
Issuance of warrants for private placement holders [Note 9]	1,524,719		1,524,719
Issuance of warrants for brokers [Note 9]	127,853		127,853
Conversion of convertible notes into common shares [Note 9]	354,519	211,602	354,519	843,922
Issuance of shares for services [Note 9]	45,947	112,631	45,947	150,418
Stock based compensation - ESOP [Note 9]	170,140	63,125	544,655	365,653
Translation adjustment	(204,501)	(72,823)	(99,091)	625,698
Net loss before dividends for the period	(2,808,091)	(4,517,115)	(9,911,813)	(13,985,915)
Preferred stock dividends	(237,904)	(230,374)	(617,043)	(690,330)
Issuance of common stock			119,285
Preferred stock purchased back via cash		(431,129)		(777,175)
Issuance of warrants for services [Note 9]		77,780		232,526
Exchange of warrants for promissory notes		(71,768)		(71,768)
Exercise of warrants for cash [Note 9]				$ (30,000)
Exercise of warrants for cash [Note 9], shares				17,544
Balance	(27,756,354)	(15,481,707)	(27,756,354)	$ (15,481,707)
Preferred Stock [Member]
Balance	$ 7	$ 8	$ 7	$ 8
Balance, shares	6,305	6,802	6,305	7,201
Conversion of convertible notes into common shares [Note 9]
Issuance of shares for services [Note 9]
Stock based compensation - ESOP [Note 9]
Translation adjustment
Net loss before dividends for the period
Preferred stock dividends
Issuance of common stock
Preferred stock purchased back via cash		$ (1)		$ (1)
Preferred stock purchased back via cash, shares		(497)		(896)
Issuance of warrants for services [Note 9]
Exchange of warrants for promissory notes
Exercise of warrants for cash [Note 9]
Balance	$ 7	$ 7	$ 7	$ 7
Balance, shares	6,305	6,305	6,305	6,305
Common Stock [Member]
Balance	$ 8,811	$ 8,650	$ 8,753	$ 8,546
Balance, shares	8,810,253	8,649,721	8,752,510	8,546,261
Conversion of convertible notes into common shares [Note 9]	$ 562	$ 40	$ 562	$ 127
Conversion of convertible notes into common shares [Note 9], shares	562,251	39,830	562,251	126,833
Issuance of shares for services [Note 9]	$ 47	$ 17	$ 47	$ 22
Issuance of shares for services [Note 9], shares	47,125	17,544	47,125	22,035
Stock based compensation - ESOP [Note 9]
Translation adjustment
Net loss before dividends for the period
Preferred stock dividends
Issuance of common stock			$ 58
Issuance of common stock, shares			57,743
Preferred stock purchased back via cash
Issuance of warrants for services [Note 9]
Exchange of warrants for promissory notes
Exercise of warrants for cash [Note 9]				$ 12
Exercise of warrants for cash [Note 9], shares				11,966
Balance	$ 9,420	$ 8,707	$ 9,420	$ 8,707
Balance, shares	9,419,629	8,707,095	9,419,629	8,707,095
Shares to be Issued [Member]
Balance	$ 24,999	$ 24,999	$ 24,999	$ 102,299
Balance, shares	3,955	3,955	3,955	20,638
Conversion of convertible notes into common shares [Note 9]
Issuance of shares for services [Note 9]
Stock based compensation - ESOP [Note 9]
Translation adjustment
Net loss before dividends for the period
Preferred stock dividends
Issuance of common stock
Preferred stock purchased back via cash
Issuance of warrants for services [Note 9]
Exchange of warrants for promissory notes
Exercise of warrants for cash [Note 9]				$ (77,300)
Exercise of warrants for cash [Note 9], shares				(16,683)
Balance	$ 24,999	$ 24,999	$ 24,999	$ 24,999
Balance, shares	3,955	3,955	3,955	3,955
Additional Paid-in Capital [Member]
Balance	$ 93,338,220	$ 92,378,740	$ 92,844,478	$ 91,550,209
Issuance of warrants for private placement holders [Note 9]	1,524,719		1,524,719
Issuance of warrants for brokers [Note 9]	127,853		127,853
Conversion of convertible notes into common shares [Note 9]	353,957	211,562	353,957	843,795
Issuance of shares for services [Note 9]	45,900	112,614	45,900	150,396
Stock based compensation - ESOP [Note 9]	170,140	63,125	544,655	365,653
Translation adjustment
Net loss before dividends for the period
Preferred stock dividends
Issuance of common stock			119,227
Preferred stock purchased back via cash		(431,128)		(777,174)
Issuance of warrants for services [Note 9]		77,780		232,526
Exchange of warrants for promissory notes		(71,768)		(71,768)
Exercise of warrants for cash [Note 9]				47,288
Balance	95,560,789	92,340,925	95,560,789	92,340,925
AOCI Attributable to Parent [Member]
Balance	(47,387)	(70,135)	(152,797)	(768,656)
Conversion of convertible notes into common shares [Note 9]
Issuance of shares for services [Note 9]
Stock based compensation - ESOP [Note 9]
Translation adjustment	(204,501)	(72,823)	(99,091)	625,698
Net loss before dividends for the period
Preferred stock dividends
Issuance of common stock
Preferred stock purchased back via cash
Issuance of warrants for services [Note 9]
Exchange of warrants for promissory notes
Exercise of warrants for cash [Note 9]
Balance	(251,888)	(142,958)	(251,888)	(142,958)
Retained Earnings [Member]
Balance	(120,053,686)	(102,965,898)	(112,570,825)	(93,037,142)
Conversion of convertible notes into common shares [Note 9]
Issuance of shares for services [Note 9]
Stock based compensation - ESOP [Note 9]
Translation adjustment
Net loss before dividends for the period	(2,808,091)	(4,517,115)	(9,911,813)	(13,985,915)
Preferred stock dividends	(237,904)	(230,374)	(617,043)	(690,330)
Issuance of common stock
Preferred stock purchased back via cash
Issuance of warrants for services [Note 9]
Exchange of warrants for promissory notes
Exercise of warrants for cash [Note 9]
Balance	$ (123,099,681)	$ (107,713,387)	$ (123,099,681)	$ (107,713,387)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss				$ (9,911,813)	$ (13,985,915)
Adjustments to reconcile net loss to net cash used in operations:
Stock based compensation				544,655	365,653
Issuance of shares for services				45,947	150,418
Issuance of warrants for services					232,526
Accretion and amortization expenses		$ 422,706	$ 51,061	1,576,345	151,970
Change in fair value of derivative liabilities		326,683	99,705	244,014	469,971
(Gain) loss upon convertible promissory notes conversion				(15,280)	85,537
Other expense regarding loss on debt modification				59,161	126,158
Non-cash lease expense				271,357
Property and equipment depreciation		1,489	1,489	4,465	4,465
Changes in operating assets and liabilities:
Accounts receivable, net	$ (891,111)			(377,579)	(40,799)
Inventories				288,096	(1,088,970)
Deposits and other receivables				363,704	(71,877)
Accounts payable and accrued liabilities				1,378,808	1,931,196
Net cash used in operating activities				(5,528,120)	(11,669,667)
CASH FLOWS FROM FINANCING ACTIVITIES
Redemption of preferred shares					(895,556)
Issuance of common shares, net of issuance costs				119,285
Issuance of preferred shares, net of issuance costs				1,900,000
Exercise of warrants for cash					12,500
Proceeds from (repayments of) convertible notes, net				2,207,579	(61,238)
Proceeds from short term loan and promissory notes, net				744,333	1,889,144	$ 1,476,121
Preferred Stock Dividend				(18,016)	(940,731)
Net cash provided by financing activities				4,953,181	4,119
Net change in cash during the period				(574,939)	(11,665,548)
Effect of foreign currency translation				89,573	50,040
Cash, beginning of period				570,460	12,066,929	12,066,929
Cash, end of period	$ 85,094	$ 85,094	$ 451,421	85,094	451,421	$ 570,460
Supplemental disclosure of cash flow information:
Interest paid				1,638,991	771,273
Taxes

NATURE OF OPERATIONS

NATURE OF OPERATIONS	9 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS	1. NATURE OF OPERATIONS Biotricity Inc. (the “Company”) was incorporated under the laws of the State of Nevada on August 29, 2012. iMedical Innovations Inc. (“iMedical”) was incorporated on July 3, 2014, under the laws of the Province of Ontario, Canada and became a wholly-owned subsidiary of Biotricity through reverse take-over on February 2, 2016. Both the Company and iMedical are engaged in research and development activities within the remote monitoring segment of preventative care. They are focused on a realizable healthcare business model that has an existing market and commercialization pathway. As such, its efforts to date have been devoted to building and commercializing an ecosystem of technologies that enable access to this market.

BASIS OF PRESENTATION, MEASUREM

BASIS OF PRESENTATION, MEASUREMENT AND CONSOLIDATION	9 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
BASIS OF PRESENTATION, MEASUREMENT AND CONSOLIDATION	2. BASIS OF PRESENTATION, MEASUREMENT AND CONSOLIDATION The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) for interim financial information and the Securities and Exchange Commission (“SEC”) instructions to Form 10-Q and Article 8 of SEC Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete consolidated financial statements and should be read in conjunction with Biotricity’s audited consolidated financial statements for the years ended March 31, 2023 and 2022 and their accompanying notes. The accompanying unaudited condensed consolidated financial statements are expressed in United States dollars (“USD”). In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of financial position and results of operations for the interim periods presented have been reflected herein. Operating results for the interim periods presented herein are not necessarily indicative of the results that may be expected for the year ending March 31, 2024. The Company’s fiscal year-end is March 31. The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. Significant intercompany accounts and transactions have been eliminated. Reclassifications Certain amounts presented in the prior year period have been reclassified to conform to current period condensed consolidated financial statement presentation. Interest expense related to debt principal, previously recorded as a selling, general and administrative expense in the condensed consolidated statements of operations and comprehensive loss in the prior year, was reclassified as a non-operating expense. Reverse Stock Split On June 29, 2023, the Company filed a Certificate of Amendment to its Amended and Restated Articles of Incorporation to effect a one-for-six ( 1-for-6 20,846 All issued and outstanding common stock, common stock per share amounts and corresponding balance sheet accounts contained in the financial statements have been retroactively adjusted to reflect this Reverse Split for all periods presented. In addition, a proportionate adjustment was made to the per share exercise and conversion price and the number of shares issuable upon the exercise or conversion of all outstanding stock options, warrants, convertible debt and equity instruments to purchase shares of common stock. BIOTRICITY INC. DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) Going Concern, Liquidity and Basis of Presentation The accompanying condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The Company is in the early stages of commercializing its first product and is concurrently in development mode, operating a research and development program in order to develop, obtain regulatory clearance for, and commercialize other proposed products. The Company has incurred recurring losses from operations, and as of December 31, 2023, had an accumulated deficit of $ 123.1 14.69 Management anticipates the Company will continue on its revenue growth trajectory and improve its liquidity through continued business development and after additional equity or debt capitalization of the Company. During fiscal year ended March 31, 2022, the Company raised $ 499,900 14,545,805 11,756,563 1,476,121 2,355,318 1.9 2.2 0.7 As we proceed with the commercialization of the Bioflux, Biotres, and Biocare product development, we expect to continue to devote significant resources on capital expenditures, as well as research and development costs and operations, marketing and sales expenditures. Based on the above facts and assumptions, we believe our existing cash, along with anticipated near-term financings, will be sufficient to continue to meet our needs for the next twelve months from the filing date of this report. However, we will need to seek additional debt or equity capital to respond to business opportunities and challenges, including our ongoing operating expenses, protecting our intellectual property, developing or acquiring new lines of business and enhancing our operating infrastructure. The terms of our future financings may be dilutive to, or otherwise adversely affect, holders of our common stock. We may also seek additional funds through arrangements with collaborators or other third parties. There can be no assurance we will be able to raise this additional capital on acceptable terms, or at all. If we are unable to obtain additional funding on a timely basis, we may be required to modify our operating plan and otherwise curtail or slow the pace of development and commercialization of our proposed product lines. In December 2019, a novel strain of coronavirus (COVID-19) emerged in Wuhan, Hubei Province, China and spread globally, causing significant disruption to the global and US economy. On March 20, 2020, the Company announced the precautionary measures taken as well as announcing the business impact related to the coronavirus (COVID-19) pandemic. Though its operations have since returned to a normal state, the extent to which the COVID-19 pandemic may continue to affect the economy and the Company’s operations may depend on future developments. BIOTRICITY INC. DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars)

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Revenue Recognition The Company adopted Accounting Standards Codification Topic 606, “ Revenue from Contracts with Customers Both the Bioflux cardiac outpatient monitoring device, and the Biotres device are wearable devices. The cardiac data that the devices monitor and collect is curated and analyzed by the Company’s proprietary algorithms and then securely communicated to a remote monitoring facility for electronic reporting and conveyance to the patient’s prescribing physician or other certified cardiac medical professional. Revenues earned are comprised of device sales revenues and technology fee revenues (technology as a service). The devices, together with their licensed software, are available for sale to the medical center or physician, who is responsible for the delivery of clinical diagnosis and therapy. The remote monitoring, data collection and reporting services performed by the technology culminate in a patient study that is generally billable when it is complete and is issued to the physician. In order to recognize revenue, management considers whether or not the following criteria are met: persuasive evidence of a commercial arrangement exists, and delivery has occurred, or services have been rendered. For sales of devices, which are invoiced directly, additional revenue recognition criteria include that the price is fixed and determinable and collectability is reasonably assured; for device sales contracts with terms of more than one year, the Company recognizes any significant financing component as revenue over the contractual period using the effective interest method, and the associated interest income is reflected accordingly on the statement of operations and included in other income; for revenue that is earned based on customer usage of the proprietary software to render a patient’s cardiac study, the Company recognizes revenue when the study ends based on a fixed billing rate. Costs associated with providing the services are recorded as the service is provided regardless of whether or when revenue is recognized. The Company may also, from time to time, earn service-related revenue from contracts with other counterparties with which it consults. This contract work is separate and distinct from services provided to clinical customers but may be with a reseller or other counterparties that are working to establish their operations in foreign jurisdictions or ancillary products or market segments in which the Company has expertise and may eventually conduct business. The Company recognized the following forms of revenue for the three and nine months ended December 31, 2023 and 2022: SCHEDULE OF REVENUE RECOGNITION 2023 2022 2023 2022 Three Months Ended Nine Months Ended December 31, December 31, 2023 2022 2023 2022 $ $ $ $ Technology fee sales 2,780,094 2,253,187 8,280,473 6,240,042 Device sales 192,878 205,994 604,561 656,580 Total 2,972,972 2,459,181 8,885,034 6,896,622 BIOTRICITY INC. DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) Inventories Inventory is stated at the lower of cost and market value, cost being determined on a weighted average cost basis. Market value of our finished goods inventory and raw material inventory is determined based on its estimated net realizable value, which is generally the selling price less normally predictable costs of disposal and transportation. The Company records write-downs of inventory that is obsolete or in excess of anticipated demand or market value based on consideration of product lifecycle stage, technology trends, product development plans and assumptions about future demand and market conditions. Actual demand may differ from forecasted demand, and such differences may have a material effect on recorded inventory values. Inventory write-downs are charged to cost of revenue and establish a new cost basis for the inventory. SCHEDULE OF INVENTORIES As of December 31, 2023 As of March 31, 2023 $ $ Raw material 1,175,790 1,186,735 Finished goods 873,120 1,150,271 Inventories 2,048,910 2,337,006 Significant accounting estimates and assumptions The preparation of the condensed consolidated financial statements requires the use of estimates and assumptions to be made in applying the accounting policies that affect the reported amounts of assets, liabilities, revenue and expenses and the disclosure of contingent assets and liabilities. The estimates and related assumptions are based on previous experiences and other factors considered reasonable under the circumstances, the results of which form the basis for making the assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. Significant accounts that require estimates as the basis for determining the stated amounts include share-based compensation, impairment analysis and fair value of warrants, promissory notes, convertible notes and derivative liabilities. ● Fair value of stock options The Company measures the cost of equity-settled transactions with employees by reference to the fair value of equity instruments at the date at which they are granted. Estimating fair value for share-based payments requires determining the most appropriate valuation model for a grant of such instruments, which is dependent on the terms and conditions of the grant. The estimate also requires determining the most appropriate inputs to the Black-Scholes option pricing model, including the expected life of the instrument, risk-free rate, volatility, and dividend yield. ● Fair value of warrants In determining the fair value of the warrant issued for services and issue pursuant to financing transactions, the Company used the Black-Scholes option pricing model with the following assumptions: volatility rate, risk-free rate, and the remaining expected life of the warrants that are classified under equity. BIOTRICITY INC. DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) ● Fair value of derivative liabilities In determining the fair values of the derivative liabilities from the conversion and redemption features, the Company used Monte-Carlo and lattice models with the following assumptions: dividend yields, volatility, risk-free rate and the remaining expected life. Changes in those assumptions and inputs could in turn impact the fair value of the derivative liabilities and can have a material impact on the reported loss and comprehensive loss for the applicable reporting period. ● Functional currency Determining the appropriate functional currencies for entities in the Company requires analysis of various factors, including the currencies and country-specific factors that mainly influence labor, materials, and other operating expenses. ● Useful life of property and equipment The Company employs significant estimates to determine the estimated useful lives of property and equipment, considering industry trends such as technological advancements, past experience, expected use and review of asset useful lives. The Company makes estimates when determining depreciation methods, depreciation rates and asset useful lives, which requires considering industry trends and company-specific factors. The Company reviews depreciation methods, useful lives and residual values annually or when circumstances change and adjusts its depreciation methods and assumptions prospectively. ● Provisions Provisions are recognized when the Company has a present obligation, legal or constructive, as a result of a previous event, if it is probable that the Company will be required to settle the obligation and a reliable estimate can be made of the obligation. The amount recognized is the best estimate of the expenditure required to settle the present obligation at the end of the reporting period, considering the risks and uncertainties surrounding the obligations. Provisions are reviewed at the end of each reporting period and adjusted to reflect the current best estimate of the expected future cash flows. ● Contingencies Contingencies can be either possible assets or possible liabilities arising from past events, which, by their nature, will be resolved only when one or more uncertain future events occur or fail to occur. The assessment of the existence and potential impact of contingencies inherently involves the exercise of significant judgment and the use of estimates regarding the outcome of future events. ● Inventory obsolescence Inventories are stated at the lower of cost and market value. Market value of our inventory, which is all purchased finished goods, is determined based on its estimated net realizable value, which is generally the selling price less normally predictable costs of disposal and transportation. The Company estimates net realizable value as the amount at which inventories are expected to be sold, taking into consideration fluctuations in retail prices less estimated costs necessary to make the sale. Inventories are written down to net realizable value when the cost of inventories is estimated to be unrecoverable due to obsolescence, damage, or declining selling prices. ● Incremental borrowing rate for lease The determination of the Company’s lease obligation and right-of-use asset depends on certain assumptions, which include the selection of the discount rate. The discount rate is set by reference to the Company’s incremental borrowing rate. Significant assumptions are required to be made when determining which borrowing rates to apply in this determination. Changes in the assumptions used may have a significant effect on the Company’s consolidated financial statements. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) Earnings (Loss) Per Share The Company has adopted the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 260-10 which provides for calculation of “basic” and “diluted” earnings per share. Basic loss per share of common stock is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted earnings or loss per share of common stock is computed similarly to basic earnings or loss per share except the weighted average shares outstanding are increased to include additional shares from the assumed exercise of any common stock equivalents, if dilutive. The Company’s warrants, options, convertible promissory notes, convertible preferred stock, shares to be issued and restricted stock awards while outstanding are considered common stock equivalents for this purpose. Diluted earnings are computed utilizing the treasury method for the warrants, stock options, shares to be issued and restricted stock awards. Diluted earnings with respect to the convertible promissory notes and convertible preferred stock utilizing the if-converted method was applied during the periods presented when conditions required for conversion had occurred. No incremental common stock equivalents were included in calculating diluted loss per share because such inclusion would be anti-dilutive given the net loss reported for the periods presented. Cash Cash includes cash on hand and balances with banks. Foreign Currency Translation The functional currency of the Company’s Canadian-based subsidiary is the Canadian dollar, and the US-based parent is the U.S. dollar. Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the exchange rate prevailing at the consolidated balance sheet date. Non-monetary assets and liabilities are translated using the historical rate on the date of the transaction. All exchange gains or losses arising from translation of these foreign currency transactions are included in net income (loss) for the year. In translating the financial statements of the Company’s Canadian subsidiaries from their functional currency into the Company’s reporting currency of United States dollars, consolidated balance sheet accounts are translated using the closing exchange rate in effect at the balance sheet date and income and expense accounts are translated using an average exchange rate prevailing during the reporting period. Adjustments resulting from the translation, if any, are included in accumulated other comprehensive loss in stockholders’ deficiency. The Company has not, to the date of these consolidated financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations. Accounts Receivable Accounts receivable consists of amounts due to the Company from medical facilities, which receive reimbursement from institutions and third-party government and commercial payors and their related patients, as a result of the Company’s normal business activities. Accounts receivable is reported on the consolidated balance sheets net of an estimated allowance for doubtful accounts. The Company establishes an allowance for doubtful accounts for estimated uncollectible receivables based on historical experience, assessment of specific risk, review of outstanding invoices, and various assumptions and estimates that are believed to be reasonable under the circumstances, and recognizes the provision as a component of selling, general and administrative expenses. Uncollectible accounts are written off against the allowance after appropriate collection efforts have been exhausted and when it is deemed that a balance is uncollectible. BIOTRICITY INC. DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) Fair Value of Financial Instruments ASC 820 defines fair value, establishes a framework for measuring fair value and expands required disclosure about fair value measurements of assets and liabilities. ASC 820-10 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820-10 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: ● Level 1 – Valuation based on quoted market prices in active markets for identical assets or liabilities. ● Level 2 – Valuation based on quoted market prices for similar assets and liabilities in active markets. ● Level 3 – Valuation based on unobservable inputs that are supported by little or no market activity, therefore requiring management’s best estimate of what market participants would use as fair value. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments or interest rates that are comparable to market rates. These financial instruments include cash, accounts receivable, deposits and other receivables, convertible promissory notes and short term loans, federally-guaranteed loans, term loans, accounts payable and accrued liabilities. The Company’s derivative liabilities are carried at fair values and are classified as Level 3 financial instruments. The Company’s bank accounts are maintained with financial institutions of reputable credit, therefore, bear minimal credit risk. The fair value of financial instruments measured on a recurring basis is as follows: SCHEDULE OF FAIR VALUE OF FINANCIAL INSTRUMENTS As of December 31, 2023 Description Total Level 1 Level 2 Level 3 Liabilities: Derivative liabilities, short-term $ 928,333 $ — $ — $ 928,333 Derivative liabilities, long-term 1,139,293 — — 1,139,293 Total liabilities at fair value $ 2,067,626 $ — $ — $ 2,067,626 As of March 31, 2023 Description Total Level 1 Level 2 Level 3 Liabilities: Derivative liabilities, short-term $ 1,008,216 $ — $ — $ 1,008,216 Derivative liabilities, long-term 759,065 — — 759,065 Total liabilities at fair value $ 1,767,281 $ — $ — $ 1,767,281 There were no transfers between fair value hierarchy levels during the three and nine months ended December 31, 2023 and 2022. BIOTRICITY INC. DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized over the shorter of the lease term or the estimated useful lives of the assets. Maintenance and repairs are charged to expense as incurred, and improvements and betterments are capitalized. Depreciation of property and equipment is provided using the straight-line method for substantially all assets with estimated lives as follow: SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES Office equipment 5 Leasehold improvement 5 Impairment for Long-Lived Assets The Company applies the provisions of ASC Topic 360, Property, Plant, and Equipment Leases The Company is the lessee in a lease contract when the Company obtains the right to use the asset. Operating leases are included in the line items right-of-use asset, lease liabilities, current, and lease liabilities, long-term in the consolidated balance sheet. Right-of-use (“ROU”) asset represents the Company’s right to use an underlying asset for the lease term and lease obligations represent the Company’s obligations to make lease payments arising from the lease, both of which are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. Leases with a lease term of 12 months or less at inception are not recorded on the consolidated balance sheets and are expensed on a straight-line basis over the lease term in the consolidated statements of operations and comprehensive loss. The Company determines the lease term by agreement with lessor. As the Company’s lease does not provide implicit interest rate, the Company uses the Company’s incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. Refer to Note 10 for further discussion. Income Taxes The Company accounts for income taxes in accordance with ASC 740. The Company provides for Federal, State and Provincial income taxes payable, as well as for those deferred because of the timing differences between reporting income and expenses for consolidated financial statement purposes versus tax purposes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recoverable or settled. The effect of a change in tax rates is recognized as income or expense in the period of the change. A valuation allowance is established, when necessary, to reduce deferred income tax assets to the amount that is more likely than not to be realized. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) Research and Development Research and development costs, which relate primarily to product and software development, are charged to operations as incurred. Under certain research and development arrangements with third parties, the Company may be required to make payments that are contingent on the achievement of specific developmental, regulatory and/or commercial milestones. Before a product receives regulatory approval, milestone payments made to third parties are expensed when the milestone is achieved . Selling, General and Administrative Selling, general and administrative expenses consist primarily of personnel-related costs including stock-based compensation for personnel in functions not directly associated with research and development activities. Other significant costs include sales and marketing costs, investor relations and legal costs relating to corporate matters, professional fees for consultants assisting with business development and financial matters, and office and administrative expenses. Stock Based Compensation The Company accounts for share-based payments in accordance with the provision of ASC 718, which requires that all share-based payments issued to acquire goods or services, including grants of employee stock options, be recognized in the consolidated statements of operations and comprehensive loss based on their fair values, net of estimated forfeitures. ASC 718 requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Compensation expenses related to share-based awards is recognized over the requisite service period, which is generally the vesting period. The Company accounts for stock based compensation awards issued to non-employees for services, as prescribed by ASC 718-10, at either the fair value of the services rendered or the instruments issued in exchange for such services, whichever is more readily determinable, using the guidelines in ASC 505-50. The Company issues compensatory shares for services including, but not limited to, executive, management, accounting, operations, corporate communication, financial and administrative consulting services. Convertible Notes Payable and Derivative Instruments The Company has adopted the provisions of ASU 2017-11 to account for the down round features of warrants issued with private placements effective as of April 1, 2017. In doing so, warrants with a down round feature previously treated as derivative liabilities in the consolidated balance sheet and measured at fair value are henceforth treated as equity, with no adjustment for changes in fair value at each reporting period. The Company also accounts for conversion options embedded in convertible notes in accordance with ASC 815. ASC 815 generally requires companies to bifurcate conversion options embedded in convertible notes from their host instruments and to account for them as free-standing derivative financial instruments. ASC 815 provides for an exception to this rule when convertible notes, as host instruments, are deemed to be conventional, as defined by ASC 815-40. The Company accounts for convertible notes deemed conventional and conversion options embedded in non-conventional convertible notes which qualify as equity under ASC 815. Accordingly, the Company records, as a discount to convertible notes, the amount bifurcated from the convertible notes attributed to any derivatives. Debt discounts under these arrangements are amortized over the term of the related debt. Series B Convertible Preferred Stock The Series B convertible preferred stock (“Series B Preferred Stock”) was accounted for as mezzanine equity and the embedded conversion and redemption features was accounted for as derivative liabilities with change in fair value at each reporting period end charged to consolidated statement of operation in accordance with ASC 480 and ASC 815. Preferred Share Redemption and Conversions The Company accounted for preferred stock redemptions and conversions in accordance to ASU-260-10-S99. For Series A preferred stock redemptions, the difference between the fair value of consideration transferred to the holders of the preferred stock and the carrying amount of the preferred stock is accounted as deemed dividend distribution and subtracted from net loss. For Series B preferred stock conversions, no gain or loss is recognized upon Series B preferred stock conversion except for the fair value adjustment for the conversion and redemption feature derivative liabilities on the conversion date. BIOTRICITY INC. DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments.” This pronouncement, along with subsequent ASUs issued to clarify provisions of ASU 2016-13, changes the impairment model for most financial assets and will require the use of an “expected loss” model for instruments measured at amortized cost. Under this model, entities will be required to estimate the lifetime expected credit loss on such instruments and record an allowance to offset the amortized cost basis of the financial asset, resulting in a net presentation of the amount expected to be collected on the financial asset. In developing the estimate for lifetime expected credit loss, entities must incorporate historical experience, current conditions, and reasonable and supportable forecasts. This pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2019. On November 19, 2019, the FASB issued ASU No. 2019-10, Financial Instruments—Credit Losses (Topic 326), finalized various effective date delays for private companies, not-for-profit organizations, and certain smaller reporting companies applying the credit losses (CECL), the revised effective for fiscal years beginning after December 15, 2022. The Company adopted this guidance on April 1, 2023 and it did not have a significant impact on the Company’s consolidated financial statements.

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	9 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	4. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED LIABILITIES As of December 31, As of March 31, $ $ Trade and other payables 4,656,265 3,435,123 Accrued liabilities 2,891,440 1,607,353 Deferred revenue 11,040 — Total 7,558,745 5,042,476 Trade and other payables and accrued liabilities as at December 31, 2023 and March 31, 2023 included $ 725,649 446,771

CONVERTIBLE PROMISSORY NOTES AN

CONVERTIBLE PROMISSORY NOTES AND SHORT TERM LOANS	9 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
CONVERTIBLE PROMISSORY NOTES AND SHORT TERM LOANS	5. CONVERTIBLE PROMISSORY NOTES AND SHORT TERM LOANS Series A Convertible Promissory Notes : During the year ended March 31, 2021, the Company issued $ 11,275,500 12 For the first series of Series A Notes, commencing six months following the Issuance Date, and at any time thereafter (provided the Holder has not received notice of the Company’s intent to prepay the note), at the sole election of the Holder, any amount of the outstanding principal and accrued interest of this note (the “Outstanding Balance”) could be converted into that number of shares of Common Stock equal to: (i) the Outstanding Balance divided by (ii) 75% of the volume weighted average price of the Common Stock for the 5 trading days prior to the Conversion Date (the conversion price) For the first series of Series A Notes, the notes would automatically convert into common stock (in each case, subject to the trading volume of the Company’s common stock being a minimum of $500,000 for each trading day in the 20 consecutive trading days immediately preceding the conversion date), upon the earlier to occur of (i) the Company’s common stock being listed on a national securities exchange, in which event the conversion price would be equal to 75% of the volume weighted average price of the common stock for the 20 trading days prior to the conversion date, or (ii) upon the closing of the Company’s next equity round of financing for gross proceeds of greater than $5,000,000, in which event the conversion price would be equal to 75% of the price per share of the common stock (or of the conversion price in the event of the sale of securities convertible into common stock) sold in such financing. The Company could, at its discretion, redeem the notes for 115% of their face value plus accrued interest BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) For the second series of Series A Notes, the notes could be converted into shares of common stock, at the option of the holder, commencing six months from issuance, at a conversion price equal to the lower of $ 24.00 75 For the second series of Series A Notes, the notes would automatically convert into common stock (in each case, subject to the trading volume of the Company’s common stock being a minimum of $500,000 for each trading day in the 20 consecutive trading days immediately preceding the conversion date), upon the earlier to occur of (i) the Company’s common stock being listed on a national securities exchange, in which event the conversion price would be equal to the lower of $24.00 per share or 75% of the volume weighted average price of the common stock for the 20 trading days prior to the conversion date, or (ii) upon the closing of the Company’s next equity round of financing for gross proceeds of greater than $5,000,000, in which event the conversion price would be equal to the lower of $24.00 per share or 75% of the price per share of the common stock (or of the conversion price in the event of the sale of securities convertible into common stock) sold in such financing. The Company could, at its discretion, redeem the notes for 115% of their face value plus accrued interest The Company was obligated to issue warrants that accompany the convertible notes and provide 50% warrant coverage. The warrants have a 3-year term from date of issuance and an exercise price that is 120% of the 20-day volume weighted average price of the Company’s common shares at the time final closing The Company was obligated to pay the placement agent of the first series of Series A Notes a 12% cash fee for $8,925,500 (face value) of the notes and 2.5% cash fee and other sundry expenses for the remaining $2,350,000 (face value) of the notes. The Company was also obligated to issue warrants to the placement agent that have a 10-year term and cover 12% of funds raised for $8,925,550 (face value) of the notes (first series) and 2.5% of funds raised for the remaining $2,350,000 (face value) of notes (second series), with an exercise price that is 120% of the 20-day volume weighted average price of the Company’s common shares at the time final closing. On final closing, which occurred on January 8, 2021, the warrants’ exercise price was struck at $6.36 per share. Prior to January 8, 2021 (final closing date), the Company determined that the conversion and redemption features contained in those Notes represented a single compound derivative liability that meets the requirements for liability classification under ASC 815. The Company accounted for these obligations by determining the fair value of the related derivative liabilities associated with the embedded conversion and redemption features. For the Series A Notes, The Company recognized debt issuance costs in the amount of $ 2,301,854 8,088,003 On December 30, 2022, the Company exchanged $ 500,000 121,500 621,500 12 75 During the three and nine months ended December 31, 2023, the Company recognized discount amortization of $ 17,102 49,393 As of December 31, 2023, the Company recorded $ 149,184 BIOTRICITY INC. DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) Series B Convertible Notes During the year ended March 31, 2021, the Company also issued $ 1,312,500 Commencing six months following the issuance date, and at any time thereafter, subject to the Company’s Conversion Buyout clause, at the sole election of the holder, any amount of the outstanding principal and accrued interest of the note (the “outstanding balance”) could be converted into that number of shares of Common Stock equal to: (i) the outstanding balance divided by (ii) the Conversion Price. Partial conversions of the note shall have the effect of lowering the outstanding principal amount of the note. The holder may exercise such conversion right by providing written notice to the Company of such exercise in a form reasonably acceptable to the Company (a “conversion notice”). Conversion price means (subject in all cases to proportionate adjustment for stock splits, stock dividends, and similar transactions), seventy-five percent (75%) multiplied by the average of the three (3) lowest closing prices during the previous ten (10) trading days prior to the receipt of the conversion notice. The Series B Notes will automatically convert into common stock upon a merger, consolidation, exchange of shares, recapitalization, reorganization, as a result of which the Company’s common stock shall be changed into another class or classes of stock of the Company or another entity, or in the case of the sale of all or substantially all of the assets of the Company other than a complete liquidation of the Company. Within the first 180 days after the issuance date, the Company may, at its discretion, redeem the notes for 115% of their face value plus accrued interest. The Company is obligated to issue warrants that accompany the convertible notes and provide 50% warrant coverage. 3 6.36 100,000 9.0 35,417 Net proceeds to the Company from convertible note issuances to March 31, 2021 amounted to $ 1,240,000 The Company recognized debt issuance costs in the amount of $ 10,000 1,312,500 As of December 31, 2023, the Company recorded accrued interest in the amount of $ 88,263 During the three and nine months ended December 31, 2023, the Company redeemed $ 16,667 119,043 20,000 142,851 2,149 15,281 5,482 39,089 In total, as at December 31, 2023, the Company had $ 200,000 38,677 BIOTRICITY INC. DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) Series C Convertible Notes During the three months ended June 30, 2023, the Company issued $ 1,017,700 590,000 During the three months ended September 30, 2023, the Company issued additional Series C Notes in the amount of $ 205,000 15 In total, $ 1,812,700 The Series C Notes were sold under subscription agreements to accredited investors. The Notes mature one year from the final closing date of the offering and accrue interest at 15 For Series C Notes, commencing six months following the Issuance Date, and at any time thereafter, at the sole election of the Holder, any amount of the outstanding principal and accrued interest of this note (the “Conversion Amount”) could be converted into that number of shares of Common Stock equal to: the Conversion Amount divided by the “Optional Conversion Price”, which is defined as lower of (i) seventy-five percent (75%) of the VWAP for the five (5) Trading Days prior to the Conversion Date, or (ii) eighty percent (80%) of the gross sale price per share of Common Stock (or conversion or exercise price per share of Common Stock of any Common Stock Equivalents) sold in a Qualified Financing For Series C Notes, “Mandatory Conversion” of the notes would convert into common stock at the applicable “Mandatory Conversion Price”, if either (i) on each of any twenty (20) consecutive Trading Days (the “Measurement Period”) (A) the closing price of the Common Stock on the applicable Trading Market is at least $18.00 per share and (B) the dollar value of average daily trades of the Common Stock on the applicable Trading Market is at least $400,000 per Trading Day; or (ii) upon the closing of a Qualified Financing, provided that the dollar value of average daily trades of the Common Stock on the applicable National Exchange on each of the ten (10) consecutive Trading Days following such closing is at least $400,000 per Trading Day. Mandatory Conversion Price means, in the case of a Mandatory Conversion under situation (i) above, seventy percent (70%) of the VWAP over the Measurement Period, or in the case of a Mandatory Conversion under situation (ii) above, eighty percent (80%) of the gross sale price per share of Common Stock (or conversion or exercise price per share of Common Stock of any Common Stock Equivalents) sold in a Qualified Financing The Company was obligated to issue warrants that accompany the convertible notes and provide 100% warrant coverage. The warrants have a 4-year term from date of issuance and an exercise price that is 200% of the 5-day volume weighted average price of the Company’s common shares at the time of final closing. The Company was obligated to pay the placement agent of the first series of Series C Notes a 10% cash fee for the face value of the notes The Company was also obligated to issue warrants to the placement agent that have a 10-year term and cover 8% of face value of the notes, with an exercise price that equals to the 5-day volume weighted average price of the Company’s common shares at the time final closing Net proceeds to the Company from Series C Notes issuance during the nine months ended December 31, 2023 amounted to $ 1,100,430 BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) Prior to the final closing date (October 23, 2023), the Company determined that the conversion features contained in those Note, as well as the obligations to issue investor warrants and placement agent warrants represented a single compound derivative liability that meets the requirements for liability classification under ASC 815. The Company accounted for these obligations by determining the fair value of the related derivative liabilities associated with the embedded conversion features, as well as the obligations related to investor warrant and placement agent warrant issuance. Subsequently, the exercise price of all warrants was concluded and locked to $ 4.18 2.09 For the Series C Notes, the Company recognized debt issuance costs of $ Nil 207,361 Nil 1,005,829 Nil 134,013 During the three and nine months ended December 31, 2023, the Company recognized discount amortization of $ 139,568 320,434 1,471,345 As of December 31, 2023, the Company recorded accrued interest in the amount of $ 184,911 Convertible Preferred Notes The Company entered into a convertible preferred note financing on September 25, 2023 and issued a convertible note (“Preferred Note”) for a principal amount of $ 1.0 12 The Company also entered into a convertible preferred note financing on October 25, 2023 and issued a convertible note (“Preferred Note”) for a principal amount of $ 250,000 12 The conversion of the Preferred Notes is automatic upon a Qualified Financing which is in the control of the Company, or at maturity of the notes, upon mutual agreement by the noteholder and the Company. Since the conversion is not in control of the holder of the note, the Company did not recognize a derivative liability in connection with the conversion option of the Other Convertible Notes. The Company may prepay the Preferred Note in whole or in part, after providing fifteen (15) days written notice to the holder, either in cash or by the mutually consented conversion of the Preferred Note and any accrued interest thereon at a 15 As of December 31, 2023, the Company recorded accrued interest in the amount of $ 36,460 Other Convertible Preferred Notes On January 23, 2023, the Company issued $ 2,000,000 10 45,045 221,621 The conversion of the Notes is automatic upon a Qualified Financing which is in the control of the Company, or at maturity of the notes, upon mutual agreement by the noteholder and the Company. Since the conversion is not in control of the holder of the note, the Company did not recognize a derivative liability in connection with the conversion option of the Notes. During the three and nine months ended December 31, 2023, the Company recognized discount amortization of $ 55,861 166,975 19,428 Other Short-Term Loans, Promissory Notes and Financing Facilities In December 2022, the Company entered into a short-term bridge loan agreement with a collateralized merchant finance company that advanced gross proceeds of $ 400,000 9,999 40 13,995 560,000 nil 6,142 Nil 66,213 In December 2022, the Company also entered into a short-term collateralized bridge loan agreement with a finance company that advanced gross proceeds of $ 800,000 32,000 29,556 13,999 1,120,000 800 11,200 481 150,760 BIOTRICITY INC. DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) In December 2022, the Company entered into a promissory note agreement with an individual investor that resulted in gross proceeds of $ 600,000 25 December 15, 2023 3 600,000 12,825 On December 30, 2022, the Company extinguished 51,101 270,000 December 31, 2023 248,479 21,521 270,000 Nil Nil 7,304 On March 29, 2023, the Company entered into an additional collateralized bridge loan agreement with a finance company that advanced gross proceeds of $ 300,000 12,000 5,250 11,083 420,000 700,000 28,000 24,500 980,000 59,161 357,445 11,900 9,100 16,100 108,245 300,651 In June 2023, the Company entered into a secured revolving account purchase credit and inventory financing facility (the “Revolving Facility”) with a revolving loan lender, pursuant to which the lender may from time to time purchase certain discrete account receivables from the Company (with full recourse) or may make loans and provide other financial accommodations, the payment of which are guaranteed and secured by certain assets of the Company. In assigning the selling accounts receivables to the revolving loan lender, the Company is receiving 85% of their value as an advance of its regular collection of those receivables 1.2 0.3 891,111 300,000 1,191,111 On July 13, 2023, the Company entered into another short-term bridge loan agreement with a collateralized merchant finance company that advanced gross proceeds of $ 400,000 24,000 14 38,705 540,000 5,143 24,000 10,949 141,870 On August 11, 2023, the Company issued two short term promissory notes (“August 2023 Notes”), each for a principal amount of $ 250,000 500,000 75,000 250,000 25,000 250,000 50,000 500,000 62,500 On December 8, 2023, the Company entered into a short-term bridge loan agreement with a collateralized merchant finance company that advanced gross proceeds of $ 630,000 15,750 44 19,195 844,200 598,014 14,676 1,074 1,074 25,599 25,599 BIOTRICITY INC. DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) Total interest expense on the above convertible notes, short-term loan and promissory notes was $ 284,898 69,930 689,493 126,574 Total accretion expenses on the above convertible notes, short-term loan and promissory notes were $ 370,755 Nil 1,421,729 Nil

TERM LOAN AND CREDIT AGREEMENT

TERM LOAN AND CREDIT AGREEMENT	9 Months Ended
	Dec. 31, 2023
Term Loan And Credit Agreement
TERM LOAN AND CREDIT AGREEMENT	6. TERM LOAN AND CREDIT AGREEMENT Term Loan On December 21, 2021, the Company entered into a Credit Agreement (“Credit Agreement”) with SWK Funding LLC (“Lender’); as part of this, the Company has borrowed $ 12.4 December 21, 2026 10.5 February 15, 2022 Pursuant to the Credit Agreement, the Company will be required to make interest only payments for the first 24 months (which may be extended to 36 months under prescribed circumstances), after which payments will include principal amortization that accommodates a 40% balloon principal payment at maturity. Prepayment of amounts owing under the Credit Agreement are allowed under prescribed circumstances. 120,000 600,000 As part of the loan transaction, the Company paid legal and professional costs directly in connection to the debt financing in the amount of $ 50,000 Total costs directly in connection to the debt financing in the amount of $ 193,437 48,484 144,953 12,000,000 The Company also repaid $ 1,574,068 Total costs directly in connection to the loan and fair value of warrants were in the amount of $ 1,042,149 51,950 51,061 154,616 151,971 Total interest expense on the term loan for the three months ended December 31, 2023 and 2022 was $ 496,952 389,662 1,489,764 1,054,166 364,000 The Company had accrued interest payable of $ 455,620 239,614 The Company and Lender also entered into a Guarantee and Collateral Agreement (“Collateral Agreement”) wherein the Company agreed to secure the Credit Agreement with all of the Company’s assets. The Company and Lender also entered into an Intellectual Property Security Agreement dated December 21, 2021 (the “IP Security Agreement”) wherein the Credit Agreement is also secured by the Company’s right title and interest in the Company’s Intellectual Property. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) In connection with the Credit Agreement, the Company issued 9,590 198,713 At December 31, 2023, the Company was not in compliance with certain covenants of the term loan, for which it sought and received relief from the term loan lender.

FEDERALLY GUARANTEED LOAN

FEDERALLY GUARANTEED LOAN	9 Months Ended
	Dec. 31, 2023
Federally Guaranteed Loan
FEDERALLY GUARANTEED LOAN	7. FEDERALLY GUARANTEED LOAN Economic Injury Disaster Loan (“EIDL”) In April 2020, the Company received $ 370,900 The loan has a term of 30 years 3.75 In May 2021, the Company received an additional $ 499,900 As of December 31, 2023, the Company recorded accrued interest of $ 35,846 65,247 Interest expense on the above loan was $ 8,231 8,230 24,603 24,602

DERIVATIVE LIABILITIES

DERIVATIVE LIABILITIES	9 Months Ended
	Dec. 31, 2023
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 series A and series B preferred shares instruments, 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. A roll-forward of activity is presented below for the nine months ended December 31, 2023 and 2022: SCHEDULE OF DERIVATIVE LIABILITIES 2023 2022 $ $ Derivative liabilities, beginning of period 759,065 352,402 Derivative liabilities recognized pursuant to issuance of Series B preferred shares (Note 9) 642,417 — Change in fair value of derivatives during period (142,830 ) 442,309 Reduction due to preferred shares converted (119,359 ) (53,036 ) Conversion to common shares Convertible note modification Convertible note redemption Derivative liabilities, end of period 1,139,293 741,675 The lattice methodology was used to value the derivative components, using the following assumptions during the nine months ended December 31, 2023 and 2022: SCHEDULE OF DERIVATIVE COMPONENTS VALUATION ASSUMPTIONS 2023 2022 Dividend yield (%) 12 12 Risk-free rate for term (%) 4.7 13.7 2.1 4.4 Volatility (%) 71.9 119.1 85.4 102 Remaining terms (Years) 0.25 2.01 1 – 3.01 Stock price ($ per share) 0.64 3.82 0.45 10.62 BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) 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. A roll-forward of activity is presented below for the nine months ended December 31, 2023 and 2022: SCHEDULE OF DERIVATIVE LIABILITIES 2023 2022 $ $ Balance beginning of period – March 31 1,008,216 520,747 New Issuance 1,224,933 — Conversion to common shares (39,089 ) (192,794 ) Change in fair value of derivative liabilities 386,845 27,662 End of derivative treatment (1,652,572 ) (17,979 ) Convertible note modification — (53,402 ) Balance end of period – December 31 928,333 351,719 The Monte-Carlo methodology was used to value the convertible note and warrant derivative components during the six months ended December 31, 2023 and 2022, using the following assumptions: SCHEDULE OF DERIVATIVE COMPONENTS VALUATION ASSUMPTIONS 2023 2022 Risk-free rate for term (%) 4.2 5.3 4.4 4.4 Volatility (%) 76.2 126.6 94 102 Remaining terms (Years) 0.25 1.49 1 1 Stock price ($ per share) 0.46 3.04 0.45 0.45

STOCKHOLDERS_ DEFICIENCY AND ME

STOCKHOLDERS’ DEFICIENCY AND MEZZANINE EQUITY	9 Months Ended
	Dec. 31, 2023
Equity [Abstract]
STOCKHOLDERS’ DEFICIENCY AND MEZZANINE EQUITY	9. STOCKHOLDERS’ DEFICIENCY AND MEZZANINE EQUITY (a) Authorized and Issued Stock As at December 31, 2023, the Company is authorized to issue 125,000,000 125,000,000 0.001 10,000,000 10,000,000 0.001 20,000 20,000 0.001 600 nil 0.001 At December 31, 2023, common shares and shares directly exchangeable into equivalent common shares that were issued and outstanding totaled 9,419,629 8,752,505 9,258,957 8,508,052 160,672 244,458 6,304 6,304 180 nil Lastly, there is also one share of the Special Voting Preferred Stock issued and outstanding held by one holder of record, which is the Trustee in accordance with the terms of the Trust Agreement and outstanding as at December 31, 2023 and March 31, 2023. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) (b ) Series A Preferred Stock The number of Series A Preferred Stock issued and outstanding as of December 31, 2023 and March 31, 2023 was 6,304 The Series A Preferred Stock is junior to the Company’s existing undesignated preferred stock, and unless otherwise set forth in the applicable certificate of designations, shall be junior to any future issuance of preferred stock. The purchase price (the “Purchase Price”) for the Series A Preferred Stock to date has been $ 1,000 Preferred Stock Dividends Dividends shall be paid at the rate of 12 Conversion The Series A Preferred Stock is convertible into shares of common stock commencing 24 months after the issuance date of the Series A Preferred Stock. Upon which, on a monthly basis, up to 5 0.001 15 Other Adjustments and Rights ● The Conversion Rate (and shares issuable upon conversion of the Series A Preferred Stock) will be appropriately adjusted to reflect stock splits, stock dividends business combinations and similar recapitalization. ● The Holders shall be entitled to a proportionate share of certain qualifying distributions on the same basis as if they were holders of the Company’s common stock on an as converted basis. Company Redemption The Company may redeem all or part of the outstanding Series A Preferred Stock after one year from the date of issuance by paying an amount equal to the aggregate Purchase Price paid, adjusted for any reduction in Series A Preferred Stock holding, multiplied by 110 (c) Series B Preferred Stock and Mezzanine Equity On September 19, 2023, the Company entered into a security purchase agreement (the “Purchase Agreement”) with an institutional investor (the “Investor”) for the issuance and sale of 220 0.001 9,091 1,900,000 Shares of Series B Preferred Stock and shares of Common Stock of the Company that are issuable upon conversion of, or as dividends on, the Series B Preferred Stock were offered and were issued pursuant to the Prospectus Supplement, filed September 19, 2023, to the Prospectus included in the Company’s Registration Statement on Form S-3 (Registration No. 333-255544) filed with the Securities and Exchange Commission on April 27, 2021, and declared effective May 4, 2021. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) Pursuant to the Purchase Agreement, on September 19, 2023, the Company filed a certificate of designations of Series B Convertible Preferred Stock (the “Certificate of Designations”) with the Nevada Secretary of State designating 600 10,000 The Series B Preferred Stock, with respect to the payment of dividends, distributions and payments upon the liquidation, dissolution and winding up of the Company, ranks senior to all capital stock of the Company unless the holders of the majority of the outstanding shares of Series B Preferred Stock consent to the creation of other capital stock of the Company that is senior or equal in rank to the Series B Preferred Stock. Holders of Series B Preferred Stock will be entitled to receive cumulative dividends (“Dividends”), in shares of common stock or cash on the stated value at an annual rate of 8 Holders of Series B Preferred Stock will be entitled to convert shares of Series B Preferred Stock into a number of shares of common stock determined by dividing the stated value (plus any accrued but unpaid dividends and other amounts due) by the conversion price. The initial conversion price is $ 3.50 4.99 19.9 Holders may elect to convert shares of Series B Preferred Stock to common stock at an alternate conversion price equal to 80% (or 70% if the Company’s common stock is suspended from trading on or delisted from a principal trading market or if the Company has effected a reverse split of the common stock) of the lowest daily volume weighed average price of the common stock during the Alternate Conversion Measuring Period (as defined in the Certificate of Designations). In the event the Company receives a conversion notice that elects an alternate conversion price, the Company may, at its option, elect to satisfy its obligation under such conversion with payment in cash in an amount equal to 110% of the conversion amount. The Series B Preferred Stock will automatically convert to common stock upon the 24-month anniversary of the initial issuance date of the Series B Preferred Stock. At any time after the earlier of a holder’s receipt of a Triggering Event notice and such holder becoming aware of a Triggering Event and ending on the 20th trading day after the later of (x) the date such Triggering Event is cured and (y) such holder’s receipt of a Triggering Event notice, such holder may require the Company to redeem such holder’s shares of Series B Preferred Stock. Upon any Bankruptcy Triggering Event (as defined in the Certificate of Designations), the Company will be required to immediately redeem all of the outstanding shares of Series B Preferred Stock. The Company will have the right at any time to redeem all or any portion of the Series B Preferred Stock then outstanding at a price equal to 110 Holders of the Series B Preferred Stock will have the right to vote on an as-converted basis with the common stock, subject to the beneficial ownership limitation set forth in the Certificate of Designations. The Series B Preferred Stock was accounted for as Mezzanine Equity in accordance with ASC 480 - Distinguishing Liabilities from Equity During the three months ended December 31, 2023, 40 562,251 228,727 119,359 A roll-forward of activity is presented below for the nine months ended December 31, 2023: SCHEDULE OF SERIES B PREFERRED STOCK FOR MEZZANINE EQUITY 2023 $ Balance beginning of period – March 31 — Net proceeds received pursuant to the issuance of preferred shares 1,900,000 Recognition of derivative liabilities (Note 8) (642,417 ) Conversion into common shares (228,727 ) Balance end of period – December 31 1,028,856 BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) (d) Common share issuances Issuances during the nine months ended December 31, 2023 The Company sold 36,897 common shares through use of its registration statement, for gross proceeds of $ 123,347 , raising a net amount of $ 119,285 after paying a 3% placement fee and other issuance expenses. In addition, 20,846 shares of common stock were issued to existing holders as a result In addition, the Company issued 47,125 45,947 Issuances during the nine months ended December 31, 2022 During the three months ended June 30, 2022, the Company issued 67,395 406,118 302,000 104,118 457,025 50,908 In addition, during the three months ended June 30, 2022, the Company removed 6,683 1,966 42,500 12,500 Lastly, during the three months ended June 30, 2022, the Company issued 695 7,500 During the three months ended September 30, 2022, the Company issued 19,608 135,274 100,000 35,274 175,294 40,020 During the three months ended September 30, 2022, the Company issued 3,796 30,287 During the three months ended December 31, 2022, the Company issued 39,808 207,002 153,600 53,402 211,602 4,600 In addition, the Company issued 17,544 112,631 (e) Common shares to be issued Activity during the nine months ended December 31, 2023 None. Activity during the nine months ended December 31, 2022 During the nine months ended December 31, 2022, the Company issued 17,544 77,300 BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) (f) Warrant issuances, exercises and other activity Warrant exercises and issuances during the nine months ended December 31, 2023 During the three months ended December 31, 2023, the Company issued 868,098 69,062 4.18 2.09 1,652,572 Warrant exercises and issuances during the nine months ended December 31, 2022 During the three months ended June 30, 2022, the Company issued 8,972 77,414 During the three months ended September 30, 2022, the Company issued 19,714 77,332 During the three months ended December 31, 2022, the Company issued 36,464 77,780 52,083 51,101 warrants for promissory notes [Note 5] that resulted in an adjustment to additional paid-in capital in the amount of $ 71,768 Warrant activity during the nine months ended December 31, 2023 is indicated below: SCHEDULE OF WARRANTS OUTSTANDING Broker Warrants Consultant and Noteholder Warrants Warrants Issued on Convertible Notes Total As at March 31, 2023 139,865 279,341 888,277 1,307,483 Expired/cancelled — (25,347 ) — (25,347 ) Exercised — — — — Issued 69,062 — 868,029 937,091 As at December 31, 2023 208,927 253,994 1,756,306 2,219,227 Exercise Price $ 2.09 37.56 $ 2.69 14.40 $ 6.36 9.00 Expiration Date August 2026 to October 2033 December 2028 to December 2032 January 2024 to October 2024 (g) Stock-based compensation 2016 Equity Incentive Plan On February 2, 2016, the Board of Directors of the Company approved the Company’s 2016 Equity Incentive Plan (the “Plan”). The purpose of the Plan is to advance the interests of the Company and its stockholders by providing an incentive to attract, retain and reward persons performing services for the Company and by motivating such persons to contribute to the growth and profitability of the Company. The Plan seeks to achieve this purpose by providing for awards in the form of options, stock appreciation rights, restricted stock purchase rights, restricted stock bonuses, restricted stock units, performance shares, performance units and other stock-based awards. The Plan shall continue in effect until its termination by the board of directors or committee formed by the board; provided, however, that all awards shall be granted, if at all, on or before the day immediately preceding the tenth (10th) anniversary of the effective date. The maximum number of shares of stock that may be issued under the Plan shall be equal to 3,750,000 BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) During the three months ended December 31, 2023 and 2022, the Company granted no 3,585 2,325 170,140 63,125 544,655 363,372 1,043,488 960,521 The following table summarizes the stock option activities during the nine months ended December 31, 2023: SCHEDULE OF STOCK OPTION ACTIVITIES Number of Options Weighted Average Exercise Price Outstanding at March 31, 2023 1,264,890 $ 9.29 Granted 3,585 $ 2.79 Exercised — $ — Expired/Forfeited (28,214 ) $ 7.80 Outstanding at December 31, 2023 1,240,261 $ 9.32 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 nine month periods ended December 31: SCHEDULE OF FAIR VALUE OF OPTION GRANTED USING VALUATION ASSUMPTIONS 2023 2022 Exercise price ($) 2.79 4.80 Risk free interest rate (%) 3.85 4.06 Expected term (Years) 10.0 5.00 Expected volatility (%) 117.1 113.9 Expected dividend yield (%) 0.00 0.00 Fair value of option ($) 2.30 3.92 Expected forfeiture (attrition) rate (%) 0.00 0.00 2023 Equity Incentive Plan and the Employee Stock Purchase Plans On March 31, 2023, the Company adopted the 2023 Equity Incentive Plan (the “2023 Plan”). The 2023 Plan authorizes grants of equity-based and incentive cash awards to eligible participants designated by the 2023 Plan’s administrator. The 2023 Plan will be administered by the Compensation Committee of the Company’s Board of Directors (the “Board”). An aggregate of 5,000,000 The Company also adopted the Employee Stock Purchase Plan (the “ESPP”). The ESPP allows eligible employees of the Company and the Company’s designated subsidiaries the ability to purchase shares of the Company’s Common Stock at a discount, subject to various limitations. Under the ESPP, employees will be granted the right to purchase Common Stock at a discount during a series of successive offerings, the duration and timing of which will be determined by the ESPP administrator (the “Administrator”). In no event can any single offering period be longer than 27 months. The purchase price (the “Purchase Price”) for each offering will be established by the Administrator. With respect to an offering under Section 423 of the Internal Revenue Code of 1986 (“Section 423 Offering”), in no case may such Purchase Price be less than the lesser of (i) an amount equal to 85 percent of the fair market value on the commencement date, or (ii) an amount not less than 85 percent of the fair market value the on the purchase date. In the event of financial hardship, an employee may withdraw from the ESPP by providing a request at least 20 Business Days before the end of the offering period (the “Offering Period”). Otherwise, the employee will be deemed to have exercised the purchase right in full as of such exercise date. Upon exercise, the employee will purchase the number of whole shares that the participant’s accumulated payroll deductions will buy at the Purchase Price. If an employee wants to decrease the rate of contribution, the employee must make a request at least 20 Business Days before the end of an Offering Period (or such earlier date as determined by the Administrator). An employee may not transfer any rights under the ESPP other than by will or the laws of descent and distribution. During a participant’s lifetime, purchase rights under the ESPP shall be exercisable only by the participant. There were no issuances under either the 2023 Plan or the ESPP as of December 31, 2023. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars)

OPERATING LEASE RIGHT-OF-USE AS

OPERATING LEASE RIGHT-OF-USE ASSETS AND LEASE OBLIGATIONS	9 Months Ended
	Dec. 31, 2023
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 an $ 85,000 When measuring the lease obligations, the Company discounted lease payments using its incremental borrowing rate. The weighted-average-rate applied was 11.4 2.9 2.5 SCHEDULE OF OPERATING LEASES OBLIGATIONS 2023 2022 Right of Use Asset $ $ Beginning balance at March 31 1,587,492 1,242,700 New leases — 685,099 Amortization (271,357 ) (255,146 ) Ending balance at December 31 1,316,135 1,672,653 2023 2022 Lease Liability $ $ Beginning balance at March 31 1,722,095 1,330,338 New leases — 685,099 Repayment and interest accretion, net (261,072 ) (231,533 ) Ending balance at December 31 1,461,023 1,783,904 December 31, 2023 March 31, 2023 Lease Liability $ $ Current portion of operating lease liability 409,702 335,608 Noncurrent portion of operating lease liability 1,051,321 1,386,487 The operating lease expense was $ 140,759 53,286 420,251 264,738 394,214 230,076 The following table represents the contractual undiscounted cash flows for lease obligations as of December 31, 2023: SCHEDULE OF CONTRACTUAL UNDISCOUNTED CASH FLOWS FOR LEASE OBLIGATION Calendar year $ 2024 552,293 2025 600,288 2026 565,359 Total undiscounted lease liability 1,717,940 Less imputed interest (256,917 ) Total 1,461,023 BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars)

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	11. COMMITMENTS AND CONTINGENCIES There are no claims against the Company that were assessed as significant, which were outstanding as at December 31, 2023 or March 31, 2023 and, consequently, no provision for such has been recognized in the condensed consolidated financial statements.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	9 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	12. PROPERTY AND EQUIPMENT During the three and nine months ended December 31, 2023 and 2022, the Company did not purchase any property and equipment. The Company recognized depreciation expense for these assets in the amount of $ 1,489 4,465 SCHEDULE OF PROPERTY AND EQUIPMENT Cost Office Leasehold improvement Total $ $ $ Balance at March 31, 2023 16,839 12,928 29,767 Additions — — — Disposals — — — Balance at December 31, 2023 16,839 12,928 29,767 Accumulated depreciation Office equipment Leasehold improvement Total $ $ $ Balance at March 31, 2023 4,675 3,586 8,261 Depreciation for the period 2,526 1,939 4,465 Disposals — — — Balance at December 31, 2023 7,201 5,525 12,726 Net book value Balance at March 31, 2023 12,164 9,342 21,506 Balance at December 31, 2023 9,638 7,403 17,041

OTHER (EXPENSE) INCOME

OTHER (EXPENSE) INCOME	9 Months Ended
	Dec. 31, 2023
Other Income and Expenses [Abstract]
OTHER (EXPENSE) INCOME	13. OTHER (EXPENSE) INCOME During the three months ended December 31, 2023 and 2022, we recognized $ 11,004 119,880 During the nine months ended December 31, 2023 and 2022, we recognized $ 118,941 116,989 During the three and nine months ended December 31, Other (expense) income is comprised of the following: SCHEDULE OF OTHER EXPENSE INCOME 2023 2022 2023 2022 Three Months Ended Nine Months Ended December 31, December 31, 2023 2022 2023 2022 $ $ $ $ Financing income contained in our revenue contracts 11,004 6,278 40,220 9,169 Expense from note modifications — (126,158 ) (59,161 ) (126,158 ) Transaction expense on the Series B preferred share issuance — — (100,000 ) — Other (expense) income 11,004 (119,880 ) (118,941 ) (116,989 )

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	14. SUBSEQUENT EVENTS The Company’s management has evaluated subsequent events during the period from January 1 to February 20, 2024, the date the condensed consolidated financial statements were issued, pursuant to the requirements of ASC 855, and has determined the following material subsequent events: ● During January 2024, the Company issued a further $ 114,303 one year 10 ● During February 2024, the Company borrowed $ 665,000 844,200 ● During February 2024, the Company borrowed $ 205,000 one 10

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Revenue Recognition	Revenue Recognition The Company adopted Accounting Standards Codification Topic 606, “ Revenue from Contracts with Customers Both the Bioflux cardiac outpatient monitoring device, and the Biotres device are wearable devices. The cardiac data that the devices monitor and collect is curated and analyzed by the Company’s proprietary algorithms and then securely communicated to a remote monitoring facility for electronic reporting and conveyance to the patient’s prescribing physician or other certified cardiac medical professional. Revenues earned are comprised of device sales revenues and technology fee revenues (technology as a service). The devices, together with their licensed software, are available for sale to the medical center or physician, who is responsible for the delivery of clinical diagnosis and therapy. The remote monitoring, data collection and reporting services performed by the technology culminate in a patient study that is generally billable when it is complete and is issued to the physician. In order to recognize revenue, management considers whether or not the following criteria are met: persuasive evidence of a commercial arrangement exists, and delivery has occurred, or services have been rendered. For sales of devices, which are invoiced directly, additional revenue recognition criteria include that the price is fixed and determinable and collectability is reasonably assured; for device sales contracts with terms of more than one year, the Company recognizes any significant financing component as revenue over the contractual period using the effective interest method, and the associated interest income is reflected accordingly on the statement of operations and included in other income; for revenue that is earned based on customer usage of the proprietary software to render a patient’s cardiac study, the Company recognizes revenue when the study ends based on a fixed billing rate. Costs associated with providing the services are recorded as the service is provided regardless of whether or when revenue is recognized. The Company may also, from time to time, earn service-related revenue from contracts with other counterparties with which it consults. This contract work is separate and distinct from services provided to clinical customers but may be with a reseller or other counterparties that are working to establish their operations in foreign jurisdictions or ancillary products or market segments in which the Company has expertise and may eventually conduct business. The Company recognized the following forms of revenue for the three and nine months ended December 31, 2023 and 2022: SCHEDULE OF REVENUE RECOGNITION 2023 2022 2023 2022 Three Months Ended Nine Months Ended December 31, December 31, 2023 2022 2023 2022 $ $ $ $ Technology fee sales 2,780,094 2,253,187 8,280,473 6,240,042 Device sales 192,878 205,994 604,561 656,580 Total 2,972,972 2,459,181 8,885,034 6,896,622 BIOTRICITY INC. DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars)
Inventories	Inventories Inventory is stated at the lower of cost and market value, cost being determined on a weighted average cost basis. Market value of our finished goods inventory and raw material inventory is determined based on its estimated net realizable value, which is generally the selling price less normally predictable costs of disposal and transportation. The Company records write-downs of inventory that is obsolete or in excess of anticipated demand or market value based on consideration of product lifecycle stage, technology trends, product development plans and assumptions about future demand and market conditions. Actual demand may differ from forecasted demand, and such differences may have a material effect on recorded inventory values. Inventory write-downs are charged to cost of revenue and establish a new cost basis for the inventory. SCHEDULE OF INVENTORIES As of December 31, 2023 As of March 31, 2023 $ $ Raw material 1,175,790 1,186,735 Finished goods 873,120 1,150,271 Inventories 2,048,910 2,337,006
Significant accounting estimates and assumptions	Significant accounting estimates and assumptions The preparation of the condensed consolidated financial statements requires the use of estimates and assumptions to be made in applying the accounting policies that affect the reported amounts of assets, liabilities, revenue and expenses and the disclosure of contingent assets and liabilities. The estimates and related assumptions are based on previous experiences and other factors considered reasonable under the circumstances, the results of which form the basis for making the assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. Significant accounts that require estimates as the basis for determining the stated amounts include share-based compensation, impairment analysis and fair value of warrants, promissory notes, convertible notes and derivative liabilities. ● Fair value of stock options The Company measures the cost of equity-settled transactions with employees by reference to the fair value of equity instruments at the date at which they are granted. Estimating fair value for share-based payments requires determining the most appropriate valuation model for a grant of such instruments, which is dependent on the terms and conditions of the grant. The estimate also requires determining the most appropriate inputs to the Black-Scholes option pricing model, including the expected life of the instrument, risk-free rate, volatility, and dividend yield. ● Fair value of warrants In determining the fair value of the warrant issued for services and issue pursuant to financing transactions, the Company used the Black-Scholes option pricing model with the following assumptions: volatility rate, risk-free rate, and the remaining expected life of the warrants that are classified under equity. BIOTRICITY INC. DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars) ● Fair value of derivative liabilities In determining the fair values of the derivative liabilities from the conversion and redemption features, the Company used Monte-Carlo and lattice models with the following assumptions: dividend yields, volatility, risk-free rate and the remaining expected life. Changes in those assumptions and inputs could in turn impact the fair value of the derivative liabilities and can have a material impact on the reported loss and comprehensive loss for the applicable reporting period. ● Functional currency Determining the appropriate functional currencies for entities in the Company requires analysis of various factors, including the currencies and country-specific factors that mainly influence labor, materials, and other operating expenses. ● Useful life of property and equipment The Company employs significant estimates to determine the estimated useful lives of property and equipment, considering industry trends such as technological advancements, past experience, expected use and review of asset useful lives. The Company makes estimates when determining depreciation methods, depreciation rates and asset useful lives, which requires considering industry trends and company-specific factors. The Company reviews depreciation methods, useful lives and residual values annually or when circumstances change and adjusts its depreciation methods and assumptions prospectively. ● Provisions Provisions are recognized when the Company has a present obligation, legal or constructive, as a result of a previous event, if it is probable that the Company will be required to settle the obligation and a reliable estimate can be made of the obligation. The amount recognized is the best estimate of the expenditure required to settle the present obligation at the end of the reporting period, considering the risks and uncertainties surrounding the obligations. Provisions are reviewed at the end of each reporting period and adjusted to reflect the current best estimate of the expected future cash flows. ● Contingencies Contingencies can be either possible assets or possible liabilities arising from past events, which, by their nature, will be resolved only when one or more uncertain future events occur or fail to occur. The assessment of the existence and potential impact of contingencies inherently involves the exercise of significant judgment and the use of estimates regarding the outcome of future events. ● Inventory obsolescence Inventories are stated at the lower of cost and market value. Market value of our inventory, which is all purchased finished goods, is determined based on its estimated net realizable value, which is generally the selling price less normally predictable costs of disposal and transportation. The Company estimates net realizable value as the amount at which inventories are expected to be sold, taking into consideration fluctuations in retail prices less estimated costs necessary to make the sale. Inventories are written down to net realizable value when the cost of inventories is estimated to be unrecoverable due to obsolescence, damage, or declining selling prices. ● Incremental borrowing rate for lease The determination of the Company’s lease obligation and right-of-use asset depends on certain assumptions, which include the selection of the discount rate. The discount rate is set by reference to the Company’s incremental borrowing rate. Significant assumptions are required to be made when determining which borrowing rates to apply in this determination. Changes in the assumptions used may have a significant effect on the Company’s consolidated financial statements. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars)
Earnings (Loss) Per Share	Earnings (Loss) Per Share The Company has adopted the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 260-10 which provides for calculation of “basic” and “diluted” earnings per share. Basic loss per share of common stock is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted earnings or loss per share of common stock is computed similarly to basic earnings or loss per share except the weighted average shares outstanding are increased to include additional shares from the assumed exercise of any common stock equivalents, if dilutive. The Company’s warrants, options, convertible promissory notes, convertible preferred stock, shares to be issued and restricted stock awards while outstanding are considered common stock equivalents for this purpose. Diluted earnings are computed utilizing the treasury method for the warrants, stock options, shares to be issued and restricted stock awards. Diluted earnings with respect to the convertible promissory notes and convertible preferred stock utilizing the if-converted method was applied during the periods presented when conditions required for conversion had occurred. No incremental common stock equivalents were included in calculating diluted loss per share because such inclusion would be anti-dilutive given the net loss reported for the periods presented.
Cash	Cash Cash includes cash on hand and balances with banks.
Foreign Currency Translation	Foreign Currency Translation The functional currency of the Company’s Canadian-based subsidiary is the Canadian dollar, and the US-based parent is the U.S. dollar. Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the exchange rate prevailing at the consolidated balance sheet date. Non-monetary assets and liabilities are translated using the historical rate on the date of the transaction. All exchange gains or losses arising from translation of these foreign currency transactions are included in net income (loss) for the year. In translating the financial statements of the Company’s Canadian subsidiaries from their functional currency into the Company’s reporting currency of United States dollars, consolidated balance sheet accounts are translated using the closing exchange rate in effect at the balance sheet date and income and expense accounts are translated using an average exchange rate prevailing during the reporting period. Adjustments resulting from the translation, if any, are included in accumulated other comprehensive loss in stockholders’ deficiency. The Company has not, to the date of these consolidated financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations.
Accounts Receivable	Accounts Receivable Accounts receivable consists of amounts due to the Company from medical facilities, which receive reimbursement from institutions and third-party government and commercial payors and their related patients, as a result of the Company’s normal business activities. Accounts receivable is reported on the consolidated balance sheets net of an estimated allowance for doubtful accounts. The Company establishes an allowance for doubtful accounts for estimated uncollectible receivables based on historical experience, assessment of specific risk, review of outstanding invoices, and various assumptions and estimates that are believed to be reasonable under the circumstances, and recognizes the provision as a component of selling, general and administrative expenses. Uncollectible accounts are written off against the allowance after appropriate collection efforts have been exhausted and when it is deemed that a balance is uncollectible. BIOTRICITY INC. DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars)
Fair Value of Financial Instruments	Fair Value of Financial Instruments ASC 820 defines fair value, establishes a framework for measuring fair value and expands required disclosure about fair value measurements of assets and liabilities. ASC 820-10 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820-10 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: ● Level 1 – Valuation based on quoted market prices in active markets for identical assets or liabilities. ● Level 2 – Valuation based on quoted market prices for similar assets and liabilities in active markets. ● Level 3 – Valuation based on unobservable inputs that are supported by little or no market activity, therefore requiring management’s best estimate of what market participants would use as fair value. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments or interest rates that are comparable to market rates. These financial instruments include cash, accounts receivable, deposits and other receivables, convertible promissory notes and short term loans, federally-guaranteed loans, term loans, accounts payable and accrued liabilities. The Company’s derivative liabilities are carried at fair values and are classified as Level 3 financial instruments. The Company’s bank accounts are maintained with financial institutions of reputable credit, therefore, bear minimal credit risk. The fair value of financial instruments measured on a recurring basis is as follows: SCHEDULE OF FAIR VALUE OF FINANCIAL INSTRUMENTS As of December 31, 2023 Description Total Level 1 Level 2 Level 3 Liabilities: Derivative liabilities, short-term $ 928,333 $ — $ — $ 928,333 Derivative liabilities, long-term 1,139,293 — — 1,139,293 Total liabilities at fair value $ 2,067,626 $ — $ — $ 2,067,626 As of March 31, 2023 Description Total Level 1 Level 2 Level 3 Liabilities: Derivative liabilities, short-term $ 1,008,216 $ — $ — $ 1,008,216 Derivative liabilities, long-term 759,065 — — 759,065 Total liabilities at fair value $ 1,767,281 $ — $ — $ 1,767,281 There were no transfers between fair value hierarchy levels during the three and nine months ended December 31, 2023 and 2022. BIOTRICITY INC. DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars)
Property and Equipment	Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized over the shorter of the lease term or the estimated useful lives of the assets. Maintenance and repairs are charged to expense as incurred, and improvements and betterments are capitalized. Depreciation of property and equipment is provided using the straight-line method for substantially all assets with estimated lives as follow: SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES Office equipment 5 Leasehold improvement 5
Impairment for Long-Lived Assets	Impairment for Long-Lived Assets The Company applies the provisions of ASC Topic 360, Property, Plant, and Equipment
Leases	Leases The Company is the lessee in a lease contract when the Company obtains the right to use the asset. Operating leases are included in the line items right-of-use asset, lease liabilities, current, and lease liabilities, long-term in the consolidated balance sheet. Right-of-use (“ROU”) asset represents the Company’s right to use an underlying asset for the lease term and lease obligations represent the Company’s obligations to make lease payments arising from the lease, both of which are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. Leases with a lease term of 12 months or less at inception are not recorded on the consolidated balance sheets and are expensed on a straight-line basis over the lease term in the consolidated statements of operations and comprehensive loss. The Company determines the lease term by agreement with lessor. As the Company’s lease does not provide implicit interest rate, the Company uses the Company’s incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. Refer to Note 10 for further discussion.
Income Taxes	Income Taxes The Company accounts for income taxes in accordance with ASC 740. The Company provides for Federal, State and Provincial income taxes payable, as well as for those deferred because of the timing differences between reporting income and expenses for consolidated financial statement purposes versus tax purposes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recoverable or settled. The effect of a change in tax rates is recognized as income or expense in the period of the change. A valuation allowance is established, when necessary, to reduce deferred income tax assets to the amount that is more likely than not to be realized. BIOTRICITY INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars)
Research and Development	Research and Development Research and development costs, which relate primarily to product and software development, are charged to operations as incurred. Under certain research and development arrangements with third parties, the Company may be required to make payments that are contingent on the achievement of specific developmental, regulatory and/or commercial milestones. Before a product receives regulatory approval, milestone payments made to third parties are expensed when the milestone is achieved .
Selling, General and Administrative	Selling, General and Administrative Selling, general and administrative expenses consist primarily of personnel-related costs including stock-based compensation for personnel in functions not directly associated with research and development activities. Other significant costs include sales and marketing costs, investor relations and legal costs relating to corporate matters, professional fees for consultants assisting with business development and financial matters, and office and administrative expenses.
Stock Based Compensation	Stock Based Compensation The Company accounts for share-based payments in accordance with the provision of ASC 718, which requires that all share-based payments issued to acquire goods or services, including grants of employee stock options, be recognized in the consolidated statements of operations and comprehensive loss based on their fair values, net of estimated forfeitures. ASC 718 requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Compensation expenses related to share-based awards is recognized over the requisite service period, which is generally the vesting period. The Company accounts for stock based compensation awards issued to non-employees for services, as prescribed by ASC 718-10, at either the fair value of the services rendered or the instruments issued in exchange for such services, whichever is more readily determinable, using the guidelines in ASC 505-50. The Company issues compensatory shares for services including, but not limited to, executive, management, accounting, operations, corporate communication, financial and administrative consulting services.
Convertible Notes Payable and Derivative Instruments	Convertible Notes Payable and Derivative Instruments The Company has adopted the provisions of ASU 2017-11 to account for the down round features of warrants issued with private placements effective as of April 1, 2017. In doing so, warrants with a down round feature previously treated as derivative liabilities in the consolidated balance sheet and measured at fair value are henceforth treated as equity, with no adjustment for changes in fair value at each reporting period. The Company also accounts for conversion options embedded in convertible notes in accordance with ASC 815. ASC 815 generally requires companies to bifurcate conversion options embedded in convertible notes from their host instruments and to account for them as free-standing derivative financial instruments. ASC 815 provides for an exception to this rule when convertible notes, as host instruments, are deemed to be conventional, as defined by ASC 815-40. The Company accounts for convertible notes deemed conventional and conversion options embedded in non-conventional convertible notes which qualify as equity under ASC 815. Accordingly, the Company records, as a discount to convertible notes, the amount bifurcated from the convertible notes attributed to any derivatives. Debt discounts under these arrangements are amortized over the term of the related debt.
Series B Convertible Preferred Stock	Series B Convertible Preferred Stock The Series B convertible preferred stock (“Series B Preferred Stock”) was accounted for as mezzanine equity and the embedded conversion and redemption features was accounted for as derivative liabilities with change in fair value at each reporting period end charged to consolidated statement of operation in accordance with ASC 480 and ASC 815.
Preferred Share Redemption and Conversions	Preferred Share Redemption and Conversions The Company accounted for preferred stock redemptions and conversions in accordance to ASU-260-10-S99. For Series A preferred stock redemptions, the difference between the fair value of consideration transferred to the holders of the preferred stock and the carrying amount of the preferred stock is accounted as deemed dividend distribution and subtracted from net loss. For Series B preferred stock conversions, no gain or loss is recognized upon Series B preferred stock conversion except for the fair value adjustment for the conversion and redemption feature derivative liabilities on the conversion date. BIOTRICITY INC. DECEMBER 31, 2023 (Unaudited) (Expressed in US dollars)
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments.” This pronouncement, along with subsequent ASUs issued to clarify provisions of ASU 2016-13, changes the impairment model for most financial assets and will require the use of an “expected loss” model for instruments measured at amortized cost. Under this model, entities will be required to estimate the lifetime expected credit loss on such instruments and record an allowance to offset the amortized cost basis of the financial asset, resulting in a net presentation of the amount expected to be collected on the financial asset. In developing the estimate for lifetime expected credit loss, entities must incorporate historical experience, current conditions, and reasonable and supportable forecasts. This pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2019. On November 19, 2019, the FASB issued ASU No. 2019-10, Financial Instruments—Credit Losses (Topic 326), finalized various effective date delays for private companies, not-for-profit organizations, and certain smaller reporting companies applying the credit losses (CECL), the revised effective for fiscal years beginning after December 15, 2022. The Company adopted this guidance on April 1, 2023 and it did not have a significant impact on the Company’s consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
SCHEDULE OF REVENUE RECOGNITION	The Company recognized the following forms of revenue for the three and nine months ended December 31, 2023 and 2022: SCHEDULE OF REVENUE RECOGNITION 2023 2022 2023 2022 Three Months Ended Nine Months Ended December 31, December 31, 2023 2022 2023 2022 $ $ $ $ Technology fee sales 2,780,094 2,253,187 8,280,473 6,240,042 Device sales 192,878 205,994 604,561 656,580 Total 2,972,972 2,459,181 8,885,034 6,896,622
SCHEDULE OF INVENTORIES	SCHEDULE OF INVENTORIES As of December 31, 2023 As of March 31, 2023 $ $ Raw material 1,175,790 1,186,735 Finished goods 873,120 1,150,271 Inventories 2,048,910 2,337,006
SCHEDULE OF FAIR VALUE OF FINANCIAL INSTRUMENTS	The fair value of financial instruments measured on a recurring basis is as follows: SCHEDULE OF FAIR VALUE OF FINANCIAL INSTRUMENTS As of December 31, 2023 Description Total Level 1 Level 2 Level 3 Liabilities: Derivative liabilities, short-term $ 928,333 $ — $ — $ 928,333 Derivative liabilities, long-term 1,139,293 — — 1,139,293 Total liabilities at fair value $ 2,067,626 $ — $ — $ 2,067,626 As of March 31, 2023 Description Total Level 1 Level 2 Level 3 Liabilities: Derivative liabilities, short-term $ 1,008,216 $ — $ — $ 1,008,216 Derivative liabilities, long-term 759,065 — — 759,065 Total liabilities at fair value $ 1,767,281 $ — $ — $ 1,767,281
SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES	SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES Office equipment 5 Leasehold improvement 5

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	9 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED LIABILITIES As of December 31, As of March 31, $ $ Trade and other payables 4,656,265 3,435,123 Accrued liabilities 2,891,440 1,607,353 Deferred revenue 11,040 — Total 7,558,745 5,042,476

DERIVATIVE LIABILITIES (Tables)

DERIVATIVE LIABILITIES (Tables)	9 Months Ended
	Dec. 31, 2023
Debt Instrument [Line Items]
SCHEDULE OF DERIVATIVE LIABILITIES	SCHEDULE OF DERIVATIVE LIABILITIES 2023 2022 $ $ Derivative liabilities, beginning of period 759,065 352,402 Derivative liabilities recognized pursuant to issuance of Series B preferred shares (Note 9) 642,417 — Change in fair value of derivatives during period (142,830 ) 442,309 Reduction due to preferred shares converted (119,359 ) (53,036 ) Conversion to common shares Convertible note modification Convertible note redemption Derivative liabilities, end of period 1,139,293 741,675
SCHEDULE OF DERIVATIVE COMPONENTS VALUATION ASSUMPTIONS	The lattice methodology was used to value the derivative components, using the following assumptions during the nine months ended December 31, 2023 and 2022: SCHEDULE OF DERIVATIVE COMPONENTS VALUATION ASSUMPTIONS 2023 2022 Dividend yield (%) 12 12 Risk-free rate for term (%) 4.7 13.7 2.1 4.4 Volatility (%) 71.9 119.1 85.4 102 Remaining terms (Years) 0.25 2.01 1 – 3.01 Stock price ($ per share) 0.64 3.82 0.45 10.62
Convertible Debt [Member]
Debt Instrument [Line Items]
SCHEDULE OF DERIVATIVE LIABILITIES	SCHEDULE OF DERIVATIVE LIABILITIES 2023 2022 $ $ Balance beginning of period – March 31 1,008,216 520,747 New Issuance 1,224,933 — Conversion to common shares (39,089 ) (192,794 ) Change in fair value of derivative liabilities 386,845 27,662 End of derivative treatment (1,652,572 ) (17,979 ) Convertible note modification — (53,402 ) Balance end of period – December 31 928,333 351,719
SCHEDULE OF DERIVATIVE COMPONENTS VALUATION ASSUMPTIONS	The Monte-Carlo methodology was used to value the convertible note and warrant derivative components during the six months ended December 31, 2023 and 2022, using the following assumptions: SCHEDULE OF DERIVATIVE COMPONENTS VALUATION ASSUMPTIONS 2023 2022 Risk-free rate for term (%) 4.2 5.3 4.4 4.4 Volatility (%) 76.2 126.6 94 102 Remaining terms (Years) 0.25 1.49 1 1 Stock price ($ per share) 0.46 3.04 0.45 0.45

STOCKHOLDERS_ DEFICIENCY AND _2

STOCKHOLDERS’ DEFICIENCY AND MEZZANINE EQUITY (Tables)	9 Months Ended
	Dec. 31, 2023
Equity [Abstract]
SCHEDULE OF SERIES B PREFERRED STOCK FOR MEZZANINE EQUITY	SCHEDULE OF SERIES B PREFERRED STOCK FOR MEZZANINE EQUITY 2023 $ Balance beginning of period – March 31 — Net proceeds received pursuant to the issuance of preferred shares 1,900,000 Recognition of derivative liabilities (Note 8) (642,417 ) Conversion into common shares (228,727 ) Balance end of period – December 31 1,028,856
SCHEDULE OF WARRANTS OUTSTANDING	Warrant activity during the nine months ended December 31, 2023 is indicated below: SCHEDULE OF WARRANTS OUTSTANDING Broker Warrants Consultant and Noteholder Warrants Warrants Issued on Convertible Notes Total As at March 31, 2023 139,865 279,341 888,277 1,307,483 Expired/cancelled — (25,347 ) — (25,347 ) Exercised — — — — Issued 69,062 — 868,029 937,091 As at December 31, 2023 208,927 253,994 1,756,306 2,219,227 Exercise Price $ 2.09 37.56 $ 2.69 14.40 $ 6.36 9.00 Expiration Date August 2026 to October 2033 December 2028 to December 2032 January 2024 to October 2024
SCHEDULE OF STOCK OPTION ACTIVITIES	The following table summarizes the stock option activities during the nine months ended December 31, 2023: SCHEDULE OF STOCK OPTION ACTIVITIES Number of Options Weighted Average Exercise Price Outstanding at March 31, 2023 1,264,890 $ 9.29 Granted 3,585 $ 2.79 Exercised — $ — Expired/Forfeited (28,214 ) $ 7.80 Outstanding at December 31, 2023 1,240,261 $ 9.32
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 nine month periods ended December 31: SCHEDULE OF FAIR VALUE OF OPTION GRANTED USING VALUATION ASSUMPTIONS 2023 2022 Exercise price ($) 2.79 4.80 Risk free interest rate (%) 3.85 4.06 Expected term (Years) 10.0 5.00 Expected volatility (%) 117.1 113.9 Expected dividend yield (%) 0.00 0.00 Fair value of option ($) 2.30 3.92 Expected forfeiture (attrition) rate (%) 0.00 0.00

OPERATING LEASE RIGHT-OF-USE _2

OPERATING LEASE RIGHT-OF-USE ASSETS AND LEASE OBLIGATIONS (Tables)	9 Months Ended
	Dec. 31, 2023
Operating Lease Right-of-use Assets And Lease Obligations
SCHEDULE OF OPERATING LEASES OBLIGATIONS	SCHEDULE OF OPERATING LEASES OBLIGATIONS 2023 2022 Right of Use Asset $ $ Beginning balance at March 31 1,587,492 1,242,700 New leases — 685,099 Amortization (271,357 ) (255,146 ) Ending balance at December 31 1,316,135 1,672,653 2023 2022 Lease Liability $ $ Beginning balance at March 31 1,722,095 1,330,338 New leases — 685,099 Repayment and interest accretion, net (261,072 ) (231,533 ) Ending balance at December 31 1,461,023 1,783,904 December 31, 2023 March 31, 2023 Lease Liability $ $ Current portion of operating lease liability 409,702 335,608 Noncurrent portion of operating lease liability 1,051,321 1,386,487
SCHEDULE OF CONTRACTUAL UNDISCOUNTED CASH FLOWS FOR LEASE OBLIGATION	The following table represents the contractual undiscounted cash flows for lease obligations as of December 31, 2023: SCHEDULE OF CONTRACTUAL UNDISCOUNTED CASH FLOWS FOR LEASE OBLIGATION Calendar year $ 2024 552,293 2025 600,288 2026 565,359 Total undiscounted lease liability 1,717,940 Less imputed interest (256,917 ) Total 1,461,023

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	9 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
SCHEDULE OF PROPERTY AND EQUIPMENT	SCHEDULE OF PROPERTY AND EQUIPMENT Cost Office Leasehold improvement Total $ $ $ Balance at March 31, 2023 16,839 12,928 29,767 Additions — — — Disposals — — — Balance at December 31, 2023 16,839 12,928 29,767 Accumulated depreciation Office equipment Leasehold improvement Total $ $ $ Balance at March 31, 2023 4,675 3,586 8,261 Depreciation for the period 2,526 1,939 4,465 Disposals — — — Balance at December 31, 2023 7,201 5,525 12,726 Net book value Balance at March 31, 2023 12,164 9,342 21,506 Balance at December 31, 2023 9,638 7,403 17,041

OTHER (EXPENSE) INCOME (Tables)

OTHER (EXPENSE) INCOME (Tables)	9 Months Ended
	Dec. 31, 2023
Other Income and Expenses [Abstract]
SCHEDULE OF OTHER EXPENSE INCOME	SCHEDULE OF OTHER EXPENSE INCOME 2023 2022 2023 2022 Three Months Ended Nine Months Ended December 31, December 31, 2023 2022 2023 2022 $ $ $ $ Financing income contained in our revenue contracts 11,004 6,278 40,220 9,169 Expense from note modifications — (126,158 ) (59,161 ) (126,158 ) Transaction expense on the Series B preferred share issuance — — (100,000 ) — Other (expense) income 11,004 (119,880 ) (118,941 ) (116,989 )

SCHEDULE OF REVENUE RECOGNITION

SCHEDULE OF REVENUE RECOGNITION (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Product Information [Line Items]
Total	$ 2,972,972	$ 2,459,181	$ 8,885,034	$ 6,896,622
Technology Fees [Member]
Product Information [Line Items]
Total	2,780,094	2,253,187	8,280,473	6,240,042
Device Sales [Member]
Product Information [Line Items]
Total	$ 192,878	$ 205,994	$ 604,561	$ 656,580

SCHEDULE OF INVENTORIES (Detail

SCHEDULE OF INVENTORIES (Details) - USD ($)	Dec. 31, 2023	Mar. 31, 2023
Accounting Policies [Abstract]
Raw material	$ 1,175,790	$ 1,186,735
Finished goods	873,120	1,150,271
Inventories	$ 2,048,910	$ 2,337,006

SCHEDULE OF FAIR VALUE OF FINAN

SCHEDULE OF FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($)	Dec. 31, 2023	Mar. 31, 2023
Platform Operator, Crypto-Asset [Line Items]
Derivative liabilities, short-term	$ 928,333	$ 1,008,216
Derivative liabilities, long-term	1,139,293	759,065
Total liabilities at fair value	2,067,626	1,767,281
Fair Value, Inputs, Level 1 [Member]
Platform Operator, Crypto-Asset [Line Items]
Derivative liabilities, short-term
Derivative liabilities, long-term
Total liabilities at fair value
Fair Value, Inputs, Level 2 [Member]
Platform Operator, Crypto-Asset [Line Items]
Derivative liabilities, short-term
Derivative liabilities, long-term
Total liabilities at fair value
Fair Value, Inputs, Level 3 [Member]
Platform Operator, Crypto-Asset [Line Items]
Derivative liabilities, short-term	928,333	1,008,216
Derivative liabilities, long-term	1,139,293	759,065
Total liabilities at fair value	$ 2,067,626	$ 1,767,281

SCHEDULE OF PROPERTY AND EQUIPM

SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES (Details)	Dec. 31, 2023
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Office equipment	5 years
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Office equipment	5 years

BASIS OF PRESENTATION, MEASUR_2

BASIS OF PRESENTATION, MEASUREMENT AND CONSOLIDATION (Details Narrative) - USD ($)			9 Months Ended		12 Months Ended
	Oct. 25, 2023	Jun. 29, 2023	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021	Jun. 19, 2023
Reverse stock, shares split		1-for-6
Accumulated deficit			$ 123,099,681		$ 112,570,825
Working capital deficiency			14,690,000
Proceeds from issuance of debt							$ 11,756,563
Proceeds from issuance initial public offering						$ 14,545,805
Proceeds from short term debt			744,333	$ 1,889,144	1,476,121
Debt conversion converted instrument amount	$ 250,000				$ 2,355,318
Net proceeds from additional convertible notes			36,460
Series B Preferred Stock [Member]
Debt conversion converted instrument amount			2,200,000
Net proceeds from additional convertible notes			1,900,000
Repayment of short term loans and promissory notes, net			$ 700,000
Economic Injury Disaster Loan [Member]
Proceeds from issuance of debt						$ 499,900
Common Stock [Member]
Issuance of common stock			20,846					20,846

SCHEDULE OF ACCOUNTS PAYABLE AN

SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details) - USD ($)	Dec. 31, 2023	Mar. 31, 2023
Payables and Accruals [Abstract]
Trade and other payables	$ 4,656,265	$ 3,435,123
Accrued liabilities	2,891,440	1,607,353
Deferred revenue	11,040
Total	$ 7,558,745	$ 5,042,476

ACCOUNTS PAYABLE AND ACCRUED _3

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details Narrative) - USD ($)	Dec. 31, 2023	Mar. 31, 2023
Payables and Accruals [Abstract]
Trade and other payables and accrued liabilities	$ 725,649	$ 446,771

CONVERTIBLE PROMISSORY NOTES _2

CONVERTIBLE PROMISSORY NOTES AND SHORT TERM LOANS (Details Narrative 1) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2021	Mar. 31, 2023	Nov. 30, 2022	Mar. 31, 2022	Dec. 21, 2021
Short-Term Debt [Line Items]
Face value							$ 364,000		$ 12,400,000
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right	9,590		9,590
Convertible note issuances			$ 36,460
Debt issuance costs									$ 193,437
Gains losses on extinguishment of debt	$ 2,148	$ 5,391	15,280	$ (85,537)
Derivative liabilities	2,067,626		2,067,626			$ 1,767,281
Series A Preferred Stock [Member]
Short-Term Debt [Line Items]
Convertible notes payable remaining	200,000		$ 200,000
Series B Preferred Stock [Member]
Short-Term Debt [Line Items]
Debt Conversion, Description			Holders may elect to convert shares of Series B Preferred Stock to common stock at an alternate conversion price equal to 80% (or 70% if the Company’s common stock is suspended from trading on or delisted from a principal trading market or if the Company has effected a reverse split of the common stock) of the lowest daily volume weighed average price of the common stock during the Alternate Conversion Measuring Period (as defined in the Certificate of Designations). In the event the Company receives a conversion notice that elects an alternate conversion price, the Company may, at its option, elect to satisfy its obligation under such conversion with payment in cash in an amount equal to 110% of the conversion amount.
Convertible note issuances			$ 1,900,000
Convertible notes payable remaining	38,677		38,677
Series B Notes [Member]
Short-Term Debt [Line Items]
Debt Conversion, Description					The Series B Notes will automatically convert into common stock upon a merger, consolidation, exchange of shares, recapitalization, reorganization, as a result of which the Company’s common stock shall be changed into another class or classes of stock of the Company or another entity, or in the case of the sale of all or substantially all of the assets of the Company other than a complete liquidation of the Company. Within the first 180 days after the issuance date, the Company may, at its discretion, redeem the notes for 115% of their face value plus accrued interest. The Company is obligated to issue warrants that accompany the convertible notes and provide 50% warrant coverage.
Convertible note issuances					$ 1,240,000
Debt issuance costs								$ 10,000
Initial debt discount								$ 1,312,500
Series B Notes [Member] | Warrant [Member]
Short-Term Debt [Line Items]
Warrants and Rights Outstanding, Term					3 years
Series B Notes [Member] | Warrant One [Member]
Short-Term Debt [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights					$ 6.36
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right					100,000
Series B Notes [Member] | Warrant Two [Member]
Short-Term Debt [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights					$ 9
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right					35,417
Series B Notes [Member] | Accredited Investors [Member]
Short-Term Debt [Line Items]
Face value					$ 1,312,500
Series B Note [Member]
Short-Term Debt [Line Items]
Face value	5,482		5,482
Interest accruals	88,263		88,263
Redemption of convertible notes	16,667		119,043
Payment redeemed cash	20,000		142,851
Gains losses on extinguishment of debt	2,149		15,281
Derivative liabilities	$ 39,089		$ 39,089

CONVERTIBLE PROMISSORY NOTES _3

CONVERTIBLE PROMISSORY NOTES AND SHORT TERM LOANS (Details Narrative 2) - USD ($)	3 Months Ended			6 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2023	Dec. 31, 2023	Mar. 31, 2021	Oct. 23, 2023	Mar. 31, 2023	Nov. 30, 2022	Dec. 21, 2021
Short-Term Debt [Line Items]
Issuance of debt						$ 11,756,563
Face amount									$ 364,000	$ 12,400,000
Proceeds from convertible debt					$ 36,460
Accretion expense					134,013
Adjustment for amortization	17,102				49,393
Series C Preferred Stock [Member]
Short-Term Debt [Line Items]
Interest payable	184,911				184,911
Warrant [Member] | Placement Agent [Member]
Short-Term Debt [Line Items]
Placement agent fees description						The Company was also obligated to issue warrants to the placement agent that have a 10-year term and cover 12% of funds raised for $8,925,550 (face value) of the notes (first series) and 2.5% of funds raised for the remaining $2,350,000 (face value) of notes (second series), with an exercise price that is 120% of the 20-day volume weighted average price of the Company’s common shares at the time final closing. On final closing, which occurred on January 8, 2021, the warrants’ exercise price was struck at $6.36 per share.
Series C Notes [Member]
Short-Term Debt [Line Items]
Issuance of debt		$ 205,000	$ 1,017,700
Accrue interest		15%		15%
Description of conversion terms for debt instrument				(i) seventy-five percent (75%) of the VWAP for the five (5) Trading Days prior to the Conversion Date, or (ii) eighty percent (80%) of the gross sale price per share of Common Stock (or conversion or exercise price per share of Common Stock of any Common Stock Equivalents) sold in a Qualified Financing
Debt conversion description				the notes would convert into common stock at the applicable “Mandatory Conversion Price”, if either (i) on each of any twenty (20) consecutive Trading Days (the “Measurement Period”) (A) the closing price of the Common Stock on the applicable Trading Market is at least $18.00 per share and (B) the dollar value of average daily trades of the Common Stock on the applicable Trading Market is at least $400,000 per Trading Day; or (ii) upon the closing of a Qualified Financing, provided that the dollar value of average daily trades of the Common Stock on the applicable National Exchange on each of the ten (10) consecutive Trading Days following such closing is at least $400,000 per Trading Day. Mandatory Conversion Price means, in the case of a Mandatory Conversion under situation (i) above, seventy percent (70%) of the VWAP over the Measurement Period, or in the case of a Mandatory Conversion under situation (ii) above, eighty percent (80%) of the gross sale price per share of Common Stock (or conversion or exercise price per share of Common Stock of any Common Stock Equivalents) sold in a Qualified Financing
Proceeds from convertible debt					1,100,430
Debt issuance costs					207,361
Debt instrument derivative liabilities					1,005,829
Adjustment for amortization	139,568				320,434
Debt instrument unamortized discount	1,471,345				$ 1,471,345
Series C Notes [Member] | Note Holders [Member]
Short-Term Debt [Line Items]
Exercise price							$ 4.18
Series C Notes [Member] | Placement Agents Warrants [Member]
Short-Term Debt [Line Items]
Exercise price							$ 2.09
Series C Notes [Member] | Placement Agent [Member]
Short-Term Debt [Line Items]
Placement agent fees description					The Company was obligated to pay the placement agent of the first series of Series C Notes a 10% cash fee for the face value of the notes
Series C Notes [Member] | Warrant [Member]
Short-Term Debt [Line Items]
Placement agent fees description					The Company was obligated to issue warrants that accompany the convertible notes and provide 100% warrant coverage. The warrants have a 4-year term from date of issuance and an exercise price that is 200% of the 5-day volume weighted average price of the Company’s common shares at the time of final closing.
Series C Notes [Member] | Warrant [Member] | Placement Agent [Member]
Short-Term Debt [Line Items]
Placement agent fees description				The Company was also obligated to issue warrants to the placement agent that have a 10-year term and cover 8% of face value of the notes, with an exercise price that equals to the 5-day volume weighted average price of the Company’s common shares at the time final closing
Series C Notes [Member] | Accredited Investors [Member]
Short-Term Debt [Line Items]
Face amount	$ 1,812,700				$ 1,812,700			$ 590,000

CONVERTIBLE PROMISSORY NOTES _4

CONVERTIBLE PROMISSORY NOTES AND SHORT TERM LOANS (Details Narrative 3) - USD ($)					1 Months Ended	3 Months Ended	9 Months Ended		12 Months Ended
	Dec. 08, 2023	Oct. 25, 2023	Jul. 13, 2023	Jan. 23, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023	Sep. 25, 2023	Nov. 30, 2022	Dec. 21, 2021
Short-Term Debt [Line Items]
Principal amount											$ 364,000	$ 12,400,000
Debt converted amount		$ 250,000							$ 2,355,318
Convertible note issuances							$ 36,460
Adjustment for amortization						$ 17,102	49,393
Gross proceeds							744,333	$ 1,889,144	$ 1,476,121
Deferred finance costs												$ 193,437
Accretion expense							134,013
Short-term Bridge Loan Agreement [Member]
Short-Term Debt [Line Items]
Adjustment for amortization							6,142
Accretion expense							66,213
Short-term Bridge Loan Agreement [Member] | Collateralized Merchant Finance Company [Member]
Short-Term Debt [Line Items]
Adjustment for amortization						5,143	24,000
Gross proceeds	$ 630,000		$ 400,000		$ 400,000
Deferred finance costs	$ 15,750		$ 24,000		$ 9,999			9,999
Debt instrument term	308 days		98 days		280 days
Debt instrument payments	$ 19,195		$ 38,705		$ 13,995
Debt instrument carrying value	844,200		$ 540,000		560,000			560,000
Accretion expense						10,949	141,870
Short-term Bridge Loan Agreement [Member] | Finance Company [Member]
Short-Term Debt [Line Items]
Gross proceeds					800,000
Deferred finance costs					32,000			32,000
Debt instrument carrying value	$ 598,014
Short-term Collateralized Bridge Loan Agreement [Member] | Finance Company [Member]
Short-Term Debt [Line Items]
Adjustment for amortization						800	11,200
Debt instrument payments					29,556
Debt instrument carrying value					1,120,000			$ 1,120,000
Accretion expense						481	150,760
Short-term Collateralized Bridge Loan Agreement [Member] | Finance Company [Member] | First Four Weeks [Member]
Short-Term Debt [Line Items]
Debt instrument payments					$ 13,999
Other Convertible Notes Payable [Member]
Short-Term Debt [Line Items]
Debt instrument interest rate stated percentage				10%
Convertible notes payable				$ 2,000,000
Convertible notes payable				45,045
Convertible notes payable				$ 221,621
Notes Payable, Other Payables [Member]
Short-Term Debt [Line Items]
Adjustment for amortization						55,861	166,975
Debt instrument unamortized discount						$ 19,428	$ 19,428
Preferred Stock [Member]
Short-Term Debt [Line Items]
Debt instrument interest rate stated percentage										15%
Eighteen Month Anniversary [Member]
Short-Term Debt [Line Items]
Principal amount										$ 1,000,000
Debt instrument interest rate stated percentage										12%

CONVERTIBLE PROMISSORY NOTES _5

CONVERTIBLE PROMISSORY NOTES AND SHORT TERM LOANS (Details Narrative 4) - USD ($)								1 Months Ended			3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 08, 2023	Aug. 11, 2023	Jul. 18, 2023	Jul. 13, 2023	Mar. 29, 2023	Dec. 30, 2022	Dec. 21, 2021	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023	Nov. 30, 2022	Mar. 31, 2022
Short-Term Debt [Line Items]
Maturity date							Dec. 21, 2026
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right								9,590			9,590		9,590
Face value							$ 12,400,000									$ 364,000
Adjustment for amortization											$ 17,102		$ 49,393
Gross proceeds													744,333	$ 1,889,144	$ 1,476,121
Deferred finance costs							$ 193,437
Accretion Expense													134,013
Line of Credit Facility, Revolving Credit Conversion to Term Loan, Description									In assigning the selling accounts receivables to the revolving loan lender, the Company is receiving 85% of their value as an advance of its regular collection of those receivables
Financing Receivable, Revolving, Converted to Term Loan									$ 1,200,000
Line of credit								$ 300,000	$ 300,000		300,000		300,000
Increase decrease accounts receivable								891,111					377,579	40,799
Line of credit, principal payment								1,191,111
Convertible debt								284,898		$ 69,930	284,898		284,898	69,930
Interest expense													689,493	126,574
Series A Convertible Note Holders [Member]
Short-Term Debt [Line Items]
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right						51,101
Promissory Note Agreement [Member] | Individual Investor [Member]
Short-Term Debt [Line Items]
Debt instrument carrying value								600,000		$ 600,000	600,000		600,000	600,000
Debt instrument interest rate during period										25%
Maturity date										Dec. 15, 2023
Early payment penalty provision percentage										3%
Debt instrument interest and debt expense													12,825
New Promissory Note [Member]
Short-Term Debt [Line Items]
Debt instrument carrying value								270,000			270,000		270,000
Maturity date						Dec. 31, 2023
Face value						$ 270,000
Debt instrument, fair value disclosure						248,479
Adjustment carrying value and principal amount						$ 21,521
Unamortized issuance cost discount
Adjustment for amortization													7,304
Collateralized Bridge Loan Agreement [Member] | Finance Company [Member]
Short-Term Debt [Line Items]
Debt instrument carrying value					$ 420,000
Gross proceeds					300,000
Deferred finance costs					12,000
Collateralized Bridge Loan Agreement [Member] | Finance Company [Member] | First Four Weeks [Member]
Short-Term Debt [Line Items]
Debt instrument periodic payment					5,250
Collateralized Bridge Loan Agreement [Member] | Finance Company [Member] | Remaining Thirty Six Weeks [Member]
Short-Term Debt [Line Items]
Debt instrument periodic payment					$ 11,083
Short-term Bridge Loan Agreement [Member]
Short-Term Debt [Line Items]
Adjustment for amortization													6,142
Accretion Expense													66,213
Short-term Bridge Loan Agreement [Member] | Finance Company [Member]
Short-Term Debt [Line Items]
Debt instrument carrying value	$ 598,014
Gross proceeds										$ 800,000
Deferred finance costs										32,000				32,000
Short-term Bridge Loan Agreement [Member] | Additional Collateralized Bridge Loan Agreement [Member]
Short-Term Debt [Line Items]
Gross proceeds			$ 700,000
Short-term Bridge Loan Agreement [Member] | Collateralized Merchant Finance Company [Member]
Short-Term Debt [Line Items]
Debt instrument carrying value	844,200			$ 540,000						560,000				560,000
Adjustment for amortization											5,143		24,000
Gross proceeds	630,000			400,000						400,000
Deferred finance costs	15,750			24,000						9,999				$ 9,999
Debt instrument periodic payment	$ 19,195			$ 38,705						$ 13,995
Accretion Expense											10,949		141,870
Debt instrument term	308 days			98 days						280 days
Series A Notes [Member]
Short-Term Debt [Line Items]
Unamortized issuance cost discount																	$ 8,088,003
Deferred finance costs																	$ 2,301,854
Series A Notes [Member] | Additional Collateralized Bridge Loan Agreement [Member]
Short-Term Debt [Line Items]
Deferred finance costs			28,000
Additional Collateralized Bridge Loan Agreement [Member]
Short-Term Debt [Line Items]
Adjustment for amortization											1,074		1,074
Accretion Expense											25,599		25,599
Additional Collateralized Bridge Loan Agreement [Member] | Finance Company [Member]
Short-Term Debt [Line Items]
Debt instrument carrying value			980,000					357,445			357,445		357,445
Unamortized issuance cost discount	$ 14,676							11,900			11,900		11,900
Adjustment for amortization												$ 9,100	16,100
Debt instrument periodic payment			24,500
Loss on amendment of debt			$ 59,161
Accretion Expense												$ 108,245	300,651
Two Short Term Promissory Notes [Member]
Short-Term Debt [Line Items]
Debt instrument carrying value								500,000			500,000		500,000
Face value		$ 250,000						250,000			250,000		250,000
Administrative fees		75,000
Administrative fees											25,000
Administrative fees											50,000
Accrued interest								$ 62,500			62,500		62,500
Two Short Term Promissory Notes [Member] | One Investor [Member]
Short-Term Debt [Line Items]
Debt instrument carrying value		$ 500,000
Promissory Note [Member]
Short-Term Debt [Line Items]
Accretion expense											$ 370,755		$ 1,421,729

CONVERTIBLE PROMISSORY NOTES _6

CONVERTIBLE PROMISSORY NOTES AND SHORT TERM LOANS (Details Narrative) - USD ($)		3 Months Ended	9 Months Ended	12 Months Ended
	Dec. 30, 2022	Dec. 31, 2023	Dec. 31, 2023	Mar. 31, 2021	Mar. 31, 2022	Dec. 21, 2021
Short-Term Debt [Line Items]
Issuance of debt				$ 11,756,563
Debt issuance costs in the amount						$ 193,437
Amortized discount		$ 17,102	$ 49,393
Notes Payable, Other Payables [Member]
Short-Term Debt [Line Items]
Initial debt discount		19,428	19,428
Amortized discount		55,861	166,975
Warrant [Member] | Placement Agent [Member]
Short-Term Debt [Line Items]
Placement agent fees description				The Company was also obligated to issue warrants to the placement agent that have a 10-year term and cover 12% of funds raised for $8,925,550 (face value) of the notes (first series) and 2.5% of funds raised for the remaining $2,350,000 (face value) of notes (second series), with an exercise price that is 120% of the 20-day volume weighted average price of the Company’s common shares at the time final closing. On final closing, which occurred on January 8, 2021, the warrants’ exercise price was struck at $6.36 per share.
Two Series A Notes [Member]
Short-Term Debt [Line Items]
Issuance of debt				$ 11,275,500
Interest rate				12%
Two Series A Notes [Member] | Warrant [Member]
Short-Term Debt [Line Items]
Placement agent fees description				The Company was obligated to issue warrants that accompany the convertible notes and provide 50% warrant coverage. The warrants have a 3-year term from date of issuance and an exercise price that is 120% of the 20-day volume weighted average price of the Company’s common shares at the time final closing
Series A Notes One [Member]
Short-Term Debt [Line Items]
Description of conversion terms for debt instrument				(i) the Outstanding Balance divided by (ii) 75% of the volume weighted average price of the Common Stock for the 5 trading days prior to the Conversion Date (the conversion price)
Debt conversion description				the notes would automatically convert into common stock (in each case, subject to the trading volume of the Company’s common stock being a minimum of $500,000 for each trading day in the 20 consecutive trading days immediately preceding the conversion date), upon the earlier to occur of (i) the Company’s common stock being listed on a national securities exchange, in which event the conversion price would be equal to 75% of the volume weighted average price of the common stock for the 20 trading days prior to the conversion date, or (ii) upon the closing of the Company’s next equity round of financing for gross proceeds of greater than $5,000,000, in which event the conversion price would be equal to 75% of the price per share of the common stock (or of the conversion price in the event of the sale of securities convertible into common stock) sold in such financing. The Company could, at its discretion, redeem the notes for 115% of their face value plus accrued interest
Series A Notes One [Member] | Placement Agent [Member]
Short-Term Debt [Line Items]
Placement agent fees description				The Company was obligated to pay the placement agent of the first series of Series A Notes a 12% cash fee for $8,925,500 (face value) of the notes and 2.5% cash fee and other sundry expenses for the remaining $2,350,000 (face value) of the notes.
Series A Notes Two [Member]
Short-Term Debt [Line Items]
Description of conversion terms for debt instrument				75
Debt conversion description				the notes would automatically convert into common stock (in each case, subject to the trading volume of the Company’s common stock being a minimum of $500,000 for each trading day in the 20 consecutive trading days immediately preceding the conversion date), upon the earlier to occur of (i) the Company’s common stock being listed on a national securities exchange, in which event the conversion price would be equal to the lower of $24.00 per share or 75% of the volume weighted average price of the common stock for the 20 trading days prior to the conversion date, or (ii) upon the closing of the Company’s next equity round of financing for gross proceeds of greater than $5,000,000, in which event the conversion price would be equal to the lower of $24.00 per share or 75% of the price per share of the common stock (or of the conversion price in the event of the sale of securities convertible into common stock) sold in such financing. The Company could, at its discretion, redeem the notes for 115% of their face value plus accrued interest
Conversion price				$ 24
Series A Notes [Member]
Short-Term Debt [Line Items]
Debt issuance costs in the amount					$ 2,301,854
Initial debt discount					$ 8,088,003
Series A Note [Member]
Short-Term Debt [Line Items]
Carrying amount	$ 500,000
Interest accruals		$ 149,184	$ 149,184
New Convertible Note [Member]
Short-Term Debt [Line Items]
Interest rate	12%
Carrying amount	$ 621,500
Debt instrument accrued interest	$ 121,500
Debt instrument interest rate	75%

TERM LOAN AND CREDIT AGREEMENT

TERM LOAN AND CREDIT AGREEMENT (Details Narrative) - USD ($)		3 Months Ended		9 Months Ended
	Dec. 21, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023	Nov. 30, 2022
Cash and Cash Equivalents [Line Items]
Face amount	$ 12,400,000						$ 364,000
Maturity date	Dec. 21, 2026
Accrue interest	10.50%
Debt instrument date	Feb. 15, 2022
Debt instrument payment terms	Pursuant to the Credit Agreement, the Company will be required to make interest only payments for the first 24 months (which may be extended to 36 months under prescribed circumstances), after which payments will include principal amortization that accommodates a 40% balloon principal payment at maturity. Prepayment of amounts owing under the Credit Agreement are allowed under prescribed circumstances.
Origination fee	$ 120,000
Exit fees	600,000
Debt issuance costs	193,437
Professional fee	48,484
Fee amount	144,953
Gross proceeds	12,000,000
Repayment of short term debt	1,574,068
Fair value of warrants	1,042,149
Amortization of debt discount expense		$ 51,950	$ 51,061	$ 154,616	$ 151,971
Interest expense		790,080	413,402	2,203,860	1,205,342
Interest payable current		$ 455,620		$ 455,620		$ 239,614
Warrants issued		9,590		9,590
Issuance of warrants	198,713
Term Loan [Member]
Cash and Cash Equivalents [Line Items]
Interest expense		$ 496,952	$ 389,662	$ 1,489,764	$ 1,054,166
Cash [Member]
Cash and Cash Equivalents [Line Items]
Debt issuance costs	$ 50,000

FEDERALLY GUARANTEED LOAN (Deta

FEDERALLY GUARANTEED LOAN (Details Narrative) - USD ($)		1 Months Ended		3 Months Ended		9 Months Ended
	Dec. 21, 2021	May 31, 2021	Apr. 30, 2020	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023
Short-Term Debt [Line Items]
Proceeds from loan	$ 12,000,000
Interest expense				$ 790,080	$ 413,402	$ 2,203,860	$ 1,205,342
Economic Injury Disaster Loan [Member]
Short-Term Debt [Line Items]
Proceeds from loan		$ 499,900	$ 370,900
Debt instrument description			The loan has a term of 30 years and an interest rate of 3.75% per annum, without the requirement for payment in the first 12 months.
Debt instrument term			30 years
Accrue interest			3.75%
Accrued interest				35,846		35,846		$ 65,247
Interest expense				$ 8,231	$ 8,230	$ 24,603	$ 24,602

SCHEDULE OF DERIVATIVE LIABILIT

SCHEDULE OF DERIVATIVE LIABILITIES (Details) - USD ($)	9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Balance beginning of period – March 31	$ 759,065	$ 352,402
Derivative liabilities recognized pursuant to issuance of Series B preferred shares (Note 9)	642,417
Change in fair value of derivative liabilities	(142,830)	442,309
Reduction due to preferred shares converted	(119,359)	(53,036)
Balance end of period – December 31	1,139,293	741,675
Convertible Debt [Member]
Debt Instrument [Line Items]
Balance beginning of period – March 31	1,008,216	520,747
Change in fair value of derivative liabilities	386,845	27,662
Conversion to common shares	39,089	192,794
Convertible note modification		(53,402)
Balance end of period – December 31	928,333	351,719
New Issuance	1,224,933
Conversion to common shares	(39,089)	(192,794)
End of derivative treatment	$ (1,652,572)	$ (17,979)

SCHEDULE OF DERIVATIVE COMPONEN

SCHEDULE OF DERIVATIVE COMPONENTS VALUATION ASSUMPTIONS (Details)	9 Months Ended
	Dec. 31, 2023 $ / shares	Dec. 31, 2022 $ / shares
Minimum [Member]
Derivative [Line Items]
Stock price	$ 0.64	$ 0.45
Minimum [Member] | Convertible Note and Warrant Derivative [Member]
Derivative [Line Items]
Stock price	0.46	0.45
Maximum [Member]
Derivative [Line Items]
Stock price	3.82	10.62
Maximum [Member] | Convertible Note and Warrant Derivative [Member]
Derivative [Line Items]
Stock price	$ 3.04	$ 0.45
Measurement Input, Expected Dividend Rate [Member]
Derivative [Line Items]
Derivative liability, measurement input	12	12
Measurement Input, Risk Free Interest Rate [Member] | Minimum [Member]
Derivative [Line Items]
Derivative liability, measurement input	4.7	2.1
Measurement Input, Risk Free Interest Rate [Member] | Minimum [Member] | Convertible Note and Warrant Derivative [Member]
Derivative [Line Items]
Derivative liability, measurement input	4.2	4.4
Measurement Input, Risk Free Interest Rate [Member] | Maximum [Member]
Derivative [Line Items]
Derivative liability, measurement input	13.7	4.4
Measurement Input, Risk Free Interest Rate [Member] | Maximum [Member] | Convertible Note and Warrant Derivative [Member]
Derivative [Line Items]
Derivative liability, measurement input	5.3	4.4
Measurement Input, Price Volatility [Member] | Minimum [Member]
Derivative [Line Items]
Derivative liability, measurement input	71.9	85.4
Measurement Input, Price Volatility [Member] | Minimum [Member] | Convertible Note and Warrant Derivative [Member]
Derivative [Line Items]
Derivative liability, measurement input	76.2	94
Measurement Input, Price Volatility [Member] | Maximum [Member]
Derivative [Line Items]
Derivative liability, measurement input	119.1	102
Measurement Input, Price Volatility [Member] | Maximum [Member] | Convertible Note and Warrant Derivative [Member]
Derivative [Line Items]
Derivative liability, measurement input	126.6	102
Measurement Input, Expected Term [Member] | Minimum [Member]
Derivative [Line Items]
Remaining terms	3 months	1 year
Measurement Input, Expected Term [Member] | Minimum [Member] | Convertible Note and Warrant Derivative [Member]
Derivative [Line Items]
Remaining terms	3 months	1 year
Measurement Input, Expected Term [Member] | Maximum [Member]
Derivative [Line Items]
Remaining terms	2 years 3 days	3 years 3 days
Measurement Input, Expected Term [Member] | Maximum [Member] | Convertible Note and Warrant Derivative [Member]
Derivative [Line Items]
Remaining terms	1 year 5 months 26 days	1 year

SCHEDULE OF SERIES B PREFERRED

SCHEDULE OF SERIES B PREFERRED STOCK FOR MEZZANINE EQUITY (Details) - USD ($)	9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Equity [Abstract]
Balance beginning of period – March 31
Net proceeds received pursuant to the issuance of preferred shares	1,900,000
Recognition of derivative liabilities (Note 8)	(642,417)
Conversion into common shares	(228,727)
Balance end of period – December 31	$ 1,028,856

SCHEDULE OF WARRANTS OUTSTANDIN

SCHEDULE OF WARRANTS OUTSTANDING (Details)	9 Months Ended
	Dec. 31, 2023 $ / shares shares
Accumulated Other Comprehensive Income (Loss) [Line Items]
As at March 31, 2023	1,307,483
Expired/cancelled	(25,347)
Exercised
Issued	937,091
As at December 31, 2023	2,219,227
Broker Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
As at March 31, 2023	139,865
Expired/cancelled
Exercised
Issued	69,062
As at December 31, 2023	208,927
Expiration Date	August 2026 to October 2033
Broker Warrants [Member] | Minimum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Exercise Price | $ / shares	$ 2.09
Broker Warrants [Member] | Maximum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Exercise Price | $ / shares	$ 37.56
Consultant Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
As at March 31, 2023	279,341
Expired/cancelled	(25,347)
Exercised
Issued
As at December 31, 2023	253,994
Expiration Date	December 2028 to December 2032
Consultant Warrants [Member] | Minimum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Exercise Price | $ / shares	$ 2.69
Consultant Warrants [Member] | Maximum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Exercise Price | $ / shares	$ 14.40
Warrants Issued on Conversion of Convertible Notes [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
As at March 31, 2023	888,277
Expired/cancelled
Exercised
Issued	868,029
As at December 31, 2023	1,756,306
Expiration Date	January 2024 to October 2024
Warrants Issued on Conversion of Convertible Notes [Member] | Minimum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Exercise Price | $ / shares	$ 6.36
Warrants Issued on Conversion of Convertible Notes [Member] | Maximum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Exercise Price | $ / shares	$ 9

SCHEDULE OF STOCK OPTION ACTIVI

SCHEDULE OF STOCK OPTION ACTIVITIES (Details) - $ / shares	3 Months Ended	9 Months Ended
	Dec. 31, 2022	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average exercise price, ending outstanding	$ 3.92	$ 2.30
Equity Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of options, beginning outstanding		1,264,890
Weighted average exercise price, beginning outstanding		$ 9.29
Number of options, granted		3,585
Weighted average exercise price, granted		$ 2.79
Number of options, exercised
Number of options, expired/forfeited		(28,214)
Weighted average exercise price, expired/forfeited		$ 7.80
Number of options, ending outstanding		1,240,261
Weighted average exercise price, ending outstanding		$ 9.32

SCHEDULE OF FAIR VALUE OF OPTIO

SCHEDULE OF FAIR VALUE OF OPTION GRANTED USING VALUATION ASSUMPTIONS (Details) - $ / shares	9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Equity [Abstract]
Exercise price	$ 2.79	$ 4.80
Risk free interest rate	3.85%	4.06%
Expected term	10 years	5 years
Expected volatility	117.10%	113.90%
Expected dividend yield	0%	0%
Fair value of option	$ 2.30	$ 3.92
Expected forfeiture (attrition) rate	0%	0%

STOCKHOLDERS_ DEFICIENCY AND _3

STOCKHOLDERS’ DEFICIENCY AND MEZZANINE EQUITY (Details Narrative) - USD ($)			3 Months Ended				9 Months Ended		12 Months Ended
	Sep. 19, 2023	Dec. 21, 2021	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Sep. 30, 2023	Jun. 19, 2023	Mar. 31, 2023	Mar. 31, 2022	Feb. 02, 2016
Class of Stock [Line Items]
Common stock shares authorized			125,000,000				125,000,000		125,000,000			125,000,000
Common stock, par value			$ 0.001				$ 0.001		$ 0.001			$ 0.001
Preferred stock, shares authorized			10,000,000				10,000,000		10,000,000			10,000,000
Preferred stock convertible conversion price			$ 0.001				$ 0.001		$ 0.001			$ 0.001
Common stock, shares issued			9,258,957				9,258,957		9,258,957			8,508,052
Common stock, other shares, outstanding			160,672				160,672		160,672			244,458
Special voting rights							Lastly, there is also one share of the Special Voting Preferred Stock issued and outstanding held by one holder of record, which is the Trustee in accordance with the terms of the Trust Agreement and outstanding as at December 31, 2023 and March 31, 2023.
Debt instrument redemption price percentage							110%
Gross proceeds							$ 1,900,000
Conversion of common shares							$ (228,727)
Stock issued during period share conversion of convertible securities							36,897
[custom:GrossProceedsFromIssuanceOfCommonStock]							$ 123,347
Proceeds from Issuance of Common Stock							119,285
Issuance of warrants		$ 198,713
Stock issued during period shares								17,544
Common shares for services received					3,796	695
Common shares for services received, value					$ 30,287	$ 7,500
Additional paid warrants exercised								77,300
Derivative liabilities			$ 2,067,626				2,067,626		$ 2,067,626			$ 1,767,281
Fair Value Adjustment of Warrants		$ 1,042,149
Stock-based compensation							$ 544,655	$ 365,653
Vested			1,043,488				1,043,488		1,043,488			960,521
2016 Equity Incentive Plan [Member]
Class of Stock [Line Items]
Share based payment award number of shares authorized														3,750,000
Stock options granted			0	0			3,585	2,325
Stock-based compensation			$ 170,140	$ 63,125			$ 544,655	$ 363,372
2023 Equity Incentive Plan [Member]
Class of Stock [Line Items]
Share based payment award number of shares available for issuance												5,000,000
Issuance of Common Shares [Member]
Class of Stock [Line Items]
Number shares removed previously to be issued						6,683
Issuance of Common Shares [Member] | Minimum [Member]
Class of Stock [Line Items]
Cancellation of to be issued shares						$ 42,500
Convertible Promissory Notes [Member]
Class of Stock [Line Items]
Stock issued during period share conversion of convertible securities				39,808	19,608	67,395
Debts instrument settlement amount				$ 207,002	$ 135,274			406,118
Convertible notes payable				153,600	100,000	$ 302,000		153,600
Carrying amount of conversion and redemption				53,402	35,274	104,118
Debt instrument fair value				211,602	175,294	457,025		$ 211,602
Loss on conversion of convertible promissory notes				$ 4,600	40,020	50,908
General and Administrative Expense [Member]
Class of Stock [Line Items]
Common shares services				17,544			47,125
Issuance of warrants				$ 112,631			$ 45,947
Selling, General and Administrative Expenses [Member]
Class of Stock [Line Items]
Warrants and rights outstanding					$ 77,332	$ 77,414
Common Stock [Member]
Class of Stock [Line Items]
Shares outstanding			9,419,629	8,707,095	8,649,721		9,419,629	8,707,095	9,419,629	8,810,253		8,752,510	8,546,261
Number of shares convertible securities			562,251	39,830			562,251	126,833
Conversion of common shares									$ 228,727
Fair value of derivative liabilities									$ 119,359
Shares, Issued			20,846				20,846		20,846		20,846
Common shares services			47,125	17,544			47,125	22,035
Stock issued during period shares								11,966
Stock issued during period shares new issues							57,743
Warrant [Member]
Class of Stock [Line Items]
Stock issued during period shares						1,966
Stock issued during period value warrants exercise						$ 12,500
Purchase Agreement [Member]
Class of Stock [Line Items]
Debt instrument redemption price percentage							110%
Purchase Agreement [Member] | Beneficiary [Member]
Class of Stock [Line Items]
Ownership percentage	4.99%
Shareholders [Member] | Exchange Agreement [Member]
Class of Stock [Line Items]
Shares outstanding			9,419,629				9,419,629		9,419,629			8,752,505
Executive [Member] | Warrant [Member]
Class of Stock [Line Items]
Convertible notes payable				$ 71,768				$ 71,768
Stock issued during period shares new issues			868,098	36,464	19,714	8,972
Placement warrants			69,062				69,062		69,062
Derivative liabilities			$ 1,652,572				$ 1,652,572		$ 1,652,572
Fair Value Adjustment of Warrants				$ 77,780
Class of Warrant or Right, Outstanding				52,083				52,083
Note Holder [Member]
Class of Stock [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 4.18				$ 4.18		$ 4.18
Placement Agent Warrants [Member]
Class of Stock [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 2.09				$ 2.09		$ 2.09
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized			20,000				20,000		20,000			20,000
Preferred stock convertible conversion price			$ 0.001				$ 0.001		$ 0.001			$ 0.001
Preferred stock, shares issued			6,304				6,304		6,304			6,304
Preferred stock, shares outstanding			6,304				6,304		6,304			6,304
Preferred stock, liquidation preference			$ 1,000				$ 1,000		$ 1,000
Preferred stock dividend rate percentage							12%
Debt instrument redemption price percentage							5%
Preferred stock convertible conversion price			0.001				$ 0.001		0.001
Volume weighted average price percentage							15%
Initial conversion price			$ 3.50				$ 3.50		$ 3.50
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized			600				600		600
Preferred stock convertible conversion price	$ 0.001		$ 0.001				$ 0.001		$ 0.001			$ 0.001
Preferred stock, shares issued	220		180				180		180
Preferred stock, shares outstanding			180				180		180
Preferred stock convertible purchase price	$ 9,091
Gross proceeds	$ 1,900,000
Debt conversion description							Holders may elect to convert shares of Series B Preferred Stock to common stock at an alternate conversion price equal to 80% (or 70% if the Company’s common stock is suspended from trading on or delisted from a principal trading market or if the Company has effected a reverse split of the common stock) of the lowest daily volume weighed average price of the common stock during the Alternate Conversion Measuring Period (as defined in the Certificate of Designations). In the event the Company receives a conversion notice that elects an alternate conversion price, the Company may, at its option, elect to satisfy its obligation under such conversion with payment in cash in an amount equal to 110% of the conversion amount.
Number of shares convertible securities			40
Series B Preferred Stock [Member] | Purchase Agreement [Member]
Class of Stock [Line Items]
Preferred stock convertible conversion price	$ 10,000
Preferred stock, shares issued	600
Stated value percentage	8%
Series B Preferred Stock [Member] | Purchase Agreement [Member] | Beneficiary [Member]
Class of Stock [Line Items]
Ownership percentage	19.90%

SCHEDULE OF OPERATING LEASES OB

SCHEDULE OF OPERATING LEASES OBLIGATIONS (Details) - USD ($)	9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023
Operating Lease Right-of-use Assets And Lease Obligations
Operating lease right-of-use asset, beginning balance	$ 1,587,492	$ 1,242,700
Right of use asset, new leases		685,099
Right of use asset, amortization	(271,357)	(255,146)
Operating lease right-of-use asset, ending balance	1,316,135	1,672,653
Operating lease liability, beginning balance	1,722,095	1,330,338
Lease liability, new leases		685,099
Lease liability, repayment and interest accretion, net	(261,072)	(231,533)
Operating lease liability, ending balance	1,461,023	$ 1,783,904
Current portion of operating lease liability	409,702		$ 335,608
Noncurrent portion of operating lease liability	$ 1,051,321		$ 1,386,487

SCHEDULE OF CONTRACTUAL UNDISCO

SCHEDULE OF CONTRACTUAL UNDISCOUNTED CASH FLOWS FOR LEASE OBLIGATION (Details) - USD ($)	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Operating Lease Right-of-use Assets And Lease Obligations
2024	$ 552,293
2025	600,288
2026	565,359
Total undiscounted lease liability	1,717,940
Less imputed interest	(256,917)
Total	$ 1,461,023	$ 1,722,095	$ 1,783,904	$ 1,330,338

OPERATING LEASE RIGHT-OF-USE _3

OPERATING LEASE RIGHT-OF-USE ASSETS AND LEASE OBLIGATIONS (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023	Dec. 31, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Weighted average rate	11.40%		11.40%		11.40%
Weighted average remaining lease term	2 years 10 months 24 days		2 years 10 months 24 days		2 years 6 months
Operating cash flows from operating leases			$ 394,214	$ 230,076
Selling, General and Administrative Expenses [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Operating lease expense	$ 140,759	$ 53,286	$ 420,251	$ 264,738
New Lease Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Lease deposit liability						$ 85,000

SCHEDULE OF PROPERTY AND EQUI_2

SCHEDULE OF PROPERTY AND EQUIPMENT (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Cost, beginning balance			$ 29,767
Additions
Disposals
Cost, ending balance	$ 29,767		29,767
Accumulated depreciation, beginning balance			8,261
Depreciation	1,489	$ 1,489	4,465	$ 4,465
Disposals
Accumulated depreciation, ending balance	12,726		12,726
Net book value, beginning balance			21,506
Net book value, ending balance	17,041		17,041
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Cost, beginning balance			16,839
Additions
Disposals
Cost, ending balance	16,839		16,839
Accumulated depreciation, beginning balance			4,675
Depreciation			2,526
Disposals
Accumulated depreciation, ending balance	7,201		7,201
Net book value, beginning balance			12,164
Net book value, ending balance	9,638		9,638
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Cost, beginning balance			12,928
Additions
Disposals
Cost, ending balance	12,928		12,928
Accumulated depreciation, beginning balance			3,586
Depreciation			1,939
Disposals
Accumulated depreciation, ending balance	5,525		5,525
Net book value, beginning balance			9,342
Net book value, ending balance	$ 7,403		$ 7,403

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation expenses	$ 1,489	$ 1,489	$ 4,465	$ 4,465

SCHEDULE OF OTHER EXPENSE INCOM

SCHEDULE OF OTHER EXPENSE INCOME (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Other Income and Expenses [Abstract]
Financing income contained in our revenue contracts	$ 11,004	$ 6,278	$ 40,220	$ 9,169
Expense from note modifications		(126,158)	(59,161)	(126,158)
Transaction expense on the Series B preferred share issuance			(100,000)
Other (expense) income	$ 11,004	$ (119,880)	$ (118,941)	$ (116,989)

OTHER (EXPENSE) INCOME (Details

OTHER (EXPENSE) INCOME (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Other Income and Expenses [Abstract]
Other income expense	$ 11,004	$ (119,880)	$ (118,941)	$ (116,989)
Other income expense	$ (11,004)	$ 119,880	$ 118,941	$ 116,989

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)			1 Months Ended
	Dec. 08, 2023	Jul. 13, 2023	Feb. 29, 2024	Jan. 31, 2024	Dec. 31, 2022	Nov. 30, 2022	Dec. 21, 2021
Subsequent Event [Line Items]
Face value						$ 364,000	$ 12,400,000
Short-term Bridge Loan Agreement [Member] | Collateralized Merchant Finance Company [Member]
Subsequent Event [Line Items]
Term	308 days	98 days			280 days
Subsequent Event [Member]
Subsequent Event [Line Items]
Term			1 year
Unsecured promissory notes, borrowings			$ 205,000
Interest rate			10%
Subsequent Event [Member] | Short-term Bridge Loan Agreement [Member] | Collateralized Merchant Finance Company [Member]
Subsequent Event [Line Items]
Borrowings			$ 665,000
Future receipts			$ 844,200
Subsequent Event [Member] | Convertible Notes Payable [Member]
Subsequent Event [Line Items]
Face value				$ 114,303
Term				1 year
Debt instrument interest rate				10%