Document And Entity Information
Document And Entity Information | 12 Months Ended |
Sep. 30, 2023 | |
Document Information Line Items | |
Entity Registrant Name | LEDDARTECH HOLDINGS INC. |
Document Type | F-1/A |
Amendment Flag | true |
Amendment Description | Amendment No. 2 |
Entity Central Index Key | 0001981462 |
Entity Emerging Growth Company | true |
Entity Ex Transition Period | false |
Entity Incorporation, State or Country Code | Z4 |
Entity Address, Address Line One | 4535, boulevard Wilfrid-Hamel |
Entity Address, Address Line Two | Suite 240 |
Entity Address, State or Province | QC |
Entity Address, Postal Zip Code | G1P 2J7 |
Entity Address, City or Town | Canada |
City Area Code | (418) |
Local Phone Number | 653-9000 |
Business Contact | |
Document Information Line Items | |
Entity Address, Address Line One | 1209 Orange Street |
Entity Address, State or Province | DE |
Entity Address, Postal Zip Code | 19801 |
Entity Address, City or Town | Wilmington |
City Area Code | (418) |
Local Phone Number | 653-9000 |
Contact Personnel Name | c/o The Corporation Trust Company |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - CAD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Current assets | ||
Cash | $ 5,056,040 | $ 32,025,899 |
Trade receivable and other receivables | 3,689,475 | 3,786,281 |
Government assistance and R&D tax credits receivable | 2,179,423 | 2,558,670 |
Inventories | 1,246,946 | 2,937,149 |
Prepaid expenses | 1,325,991 | 1,052,494 |
Total current assets | 13,497,875 | 42,360,493 |
Property and equipment | 2,071,457 | 3,623,009 |
Right-of-use assets | 3,180,318 | 5,892,374 |
Intangible assets | 45,838,108 | 34,761,189 |
Prepaid financing fees | 264,523 | |
Goodwill | 7,318,126 | 7,318,126 |
Total non-current assets | 58,672,532 | 51,594,698 |
Total assets | 72,170,407 | 93,955,191 |
Current liabilities | ||
Accounts payable and accrued liabilities | 13,570,905 | 10,988,362 |
Provisions | 878,144 | |
Conversion option | 737,974 | |
Current portion of lease liabilities | 722,675 | 673,605 |
Current portion of government grant liabilities | 568,807 | |
Current portion of long-term debt | 30,342,675 | |
Total current liabilities | 16,478,505 | 42,004,642 |
Long-term debt | 47,725,583 | 11,274,618 |
Redeemable stock options | 6,102,496 | 6,102,496 |
Lease liabilities | 3,058,558 | 5,905,498 |
Government grant liabilities | 899,489 | 1,409,694 |
Total non-current liabilities | 57,786,126 | 24,692,306 |
Total liabilities | 74,264,631 | 66,696,948 |
Shareholders’ equity (deficiency) | ||
Capital stock | 452,246,204 | 433,689,768 |
Reserve – warrants | 670,703 | 670,703 |
Reserve – stock options | 31,659,392 | 28,708,766 |
Other component of equity | 2,869,188 | 2,431,688 |
Deficit | (480,333,695) | (432,341,598) |
Equity (deficiency) attributable to owners of the capital stock of the parent | 7,111,792 | 33,159,327 |
Non-controlling interests | (9,206,016) | (5,901,084) |
Total shareholders’ equity (deficiency) | (2,094,224) | 27,258,243 |
Total liabilities and shareholders’ equity (deficiency) | $ 72,170,407 | $ 93,955,191 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders’ Equity (Deficiency) - CAD ($) | Capital stock | Reserve – warrants | Reserve – stock options | Other component of equity | Deficit | Equity (deficiency) attributable to owners of the capital stock of the parent | Non- controlling interests | Total |
Balance at Sep. 30, 2020 | $ 280,933,299 | $ 13,438,814 | $ 2,431,688 | $ (316,063,712) | $ (19,259,911) | $ (157,992) | $ (19,417,903) | |
Business combination | 5,253,635 | 5,253,635 | 5,253,635 | |||||
Stock-based compensation | 10,624,628 | 10,624,628 | 10,624,628 | |||||
Warrant issuance | 670,703 | 670,703 | 670,703 | |||||
Options exercised | 37,883 | (12,074) | 25,809 | 25,809 | ||||
Vesting of Vayavision’s shares | (127,380) | (127,380) | 127,380 | |||||
Net loss and comprehensive loss | (46,959,038) | (46,959,038) | (1,897,955) | (48,856,993) | ||||
Balance at Sep. 30, 2021 | 286,224,817 | 670,703 | 23,923,988 | 2,431,688 | (363,022,750) | (49,771,554) | (1,928,567) | (51,700,121) |
Business combination | 2,215,739 | 2,215,739 | 2,215,739 | |||||
Share issuances, net | 145,235,091 | 145,235,091 | 145,235,091 | |||||
Stock-based compensation | 4,917,057 | 4,917,057 | 4,917,057 | |||||
Options exercised | 14,121 | (4,899) | 9,222 | 9,222 | ||||
Vesting of Vayavision’s shares | (127,380) | (127,380) | 127,380 | |||||
Net loss and comprehensive loss | (69,318,848) | (69,318,848) | (4,099,897) | (73,418,745) | ||||
Balance at Sep. 30, 2022 | 433,689,768 | 670,703 | 28,708,766 | 2,431,688 | (432,341,598) | 33,159,327 | (5,901,084) | 27,258,243 |
Share issuances, net | 18,556,436 | 18,556,436 | 18,556,436 | |||||
Stock-based compensation | 3,078,006 | 437,500 | 3,515,506 | 3,515,506 | ||||
Vesting of Vayavision’s shares | (127,380) | (127,380) | 127,380 | |||||
Net loss and comprehensive loss | (47,992,097) | (47,992,097) | (3,432,312) | (51,424,409) | ||||
Balance at Sep. 30, 2023 | $ 452,246,204 | $ 670,703 | $ 31,659,392 | $ 2,869,188 | $ (480,333,695) | $ 7,111,792 | $ (9,206,016) | $ (2,094,224) |
Consolidated Statements of Loss
Consolidated Statements of Loss and Comprehensive Loss - CAD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Revenue | |||
Revenues | $ 7,447,177 | $ 8,766,121 | $ 8,231,326 |
Cost of sales | 7,521,845 | 5,310,718 | 5,258,390 |
Gross profit | (74,668) | 3,455,403 | 2,972,936 |
Operating expenses | |||
Marketing and product management | 4,097,931 | 3,280,864 | 3,174,555 |
Selling | 3,126,324 | 3,976,733 | 3,762,397 |
General and administrative | 18,990,598 | 15,548,293 | 11,941,855 |
Research and development costs (net of R&D tax credits of $225,609 in 2023, $70,191 in 2022 and $237,364 in 2021) | 12,719,093 | 22,057,911 | 11,226,737 |
Stock-based compensation | 2,436,974 | 4,272,673 | 12,193,618 |
Transaction costs | 3,506,630 | ||
Restructuring costs | 1,756,433 | ||
Impairment loss related to intangible assets | 5,791,439 | 38,207,503 | |
Total, operating expenses | 52,425,422 | 87,343,977 | 42,299,162 |
Loss from operations | (52,500,090) | (83,888,574) | (39,326,226) |
Other (income) costs | |||
Grant revenue | (377,080) | (435,448) | (2,164,794) |
Finance costs, net | (698,601) | (10,034,381) | 11,695,561 |
Loss before income taxes | (51,424,409) | (73,418,745) | (48,856,993) |
Income taxes | |||
Net loss and comprehensive loss | (51,424,409) | (73,418,745) | (48,856,993) |
Net loss and comprehensive loss attributable to: | |||
Non-controlling interests | (3,432,312) | (4,099,897) | (1,897,955) |
Equity holders of the parent | $ (47,992,097) | $ (69,318,848) | $ (46,959,038) |
Net loss per common share, basic (in Dollars per share) | $ (286.33) | $ (513.8) | $ (723.05) |
Weighted average common shares outstanding, basic (in Shares) | 167,610 | 134,913 | 64,946 |
Products | |||
Revenue | |||
Revenues | $ 7,151,450 | $ 8,145,606 | $ 7,968,000 |
Services | |||
Revenue | |||
Revenues | 251,464 | 543,409 | 194,929 |
Others | |||
Revenue | |||
Revenues | $ 44,263 | $ 77,106 | $ 68,397 |
Consolidated Statements of Lo_2
Consolidated Statements of Loss and Comprehensive Loss (Parentheticals) - CAD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Profit or loss [abstract] | |||
Research and development costs, Net of R&D tax credits | $ 225,609 | $ 70,191 | $ 237,364 |
Net loss per common share, diluted | $ (286.33) | $ (513.80) | $ (723.05) |
Weighted average common shares outstanding, diluted | 167,610 | 134,913 | 64,946 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - CAD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Operating activities | |||
Net loss | $ (51,424,409) | $ (73,418,745) | $ (48,856,993) |
Adjustments to reconcile net loss to net cash flows: | |||
Write-down (write-down reversal) of inventories | 2,299,866 | 19,859 | (17,115) |
Depreciation of property and equipment | 1,274,597 | 1,448,867 | 1,132,833 |
Depreciation of right-of-use assets | 581,936 | 610,941 | 393,585 |
Amortization of intangible assets | 286,494 | 257,064 | 463,784 |
Impairment loss related to intangible assets | 5,791,439 | 38,207,503 | |
Finance costs, net | (986,824) | (7,376,716) | 11,547,217 |
Transaction costs | 437,500 | ||
Stock-based compensation | 2,436,974 | 4,590,336 | 9,308,105 |
Grant revenue on term loan | (1,192,741) | ||
Redeemable stock options | (317,663) | 2,885,513 | |
Loss (gain) on lease liability cancellation | (78,607) | ||
Other costs | 145,933 | ||
Foreign exchange gain | 308,854 | (1,756,535) | (99,296) |
Adjustments to reconcile net loss to net cash flows, Total | (39,072,180) | (37,735,089) | (24,289,175) |
Net change in non-cash working capital items | 2,421,056 | (391,808) | 3,499,828 |
Net cash flows related to operating activities | (36,651,124) | (38,126,897) | (20,789,347) |
Investing activities | |||
Additions to property and equipment | (188,775) | (2,173,529) | (1,947,321) |
Dispositions of property and equipment | 45,000 | ||
Additions to intangible assets | (12,356,950) | (10,853,759) | (15,763,223) |
Grants received related to intangible assets and property and equipment | 268,460 | 986,295 | 641,033 |
R&D tax credit received | 836,171 | 706,000 | |
Finance income received | 223,594 | 40,251 | 3,454 |
Other costs | (145,933) | ||
Net cash flows related to investing activities | (11,172,500) | (12,000,742) | (16,505,990) |
Financing activities | |||
Debt issuance | 29,406,425 | 46,561,223 | |
Convertible loan reimbursed | (837,963) | ||
Other loan settlement/reimbursed | (134,189) | (768,850) | |
Interest paid on credit facility and other loan | (4,773,512) | (3,620,539) | (2,788,034) |
Exercise of warrants | 7,992 | ||
Debt issuance costs | (2,119,392) | ||
Bridge loans issuance proceed | 6,250,000 | ||
Bridge loans settlement | (6,250,000) | ||
Issuance and modification costs of convertible loans | (124,717) | (124,022) | |
Exercise of stock options | 9,221 | 25,809 | |
Share issuance proceed | 85,236,002 | ||
Share issuance cost | (6,094,621) | (571,116) | |
Government grant liability issuance | 178,857 | 191,412 | |
Repayment principal amount of lease liabilities | (687,150) | (316,472) | (415,251) |
Interest paid on lease liability | (451,894) | (551,291) | (303,390) |
Net cash flows related to financing activities | 21,248,280 | 73,947,590 | 41,738,668 |
Effect of foreign exchange on cash | (394,515) | 2,005,632 | |
Net increase (decrease) in cash | (26,969,859) | 25,825,583 | 4,443,331 |
Cash, beginning of year | 32,025,899 | 6,200,316 | 1,756,985 |
Cash, end of year | $ 5,056,040 | $ 32,025,899 | $ 6,200,316 |
Nature of Operations and Going
Nature of Operations and Going Concern Uncertainty | 12 Months Ended |
Sep. 30, 2023 | |
Nature of Operations and Going Concern Uncertainty [Abstract] | |
Nature of operations and going concern uncertainty | 1. LeddarTech Inc. (the “Company” or “LeddarTech”) was incorporated under the Canada Business Corporations Act -4535 -Hamel The Company develops services and products targeted at the Advanced Driver Assistance Systems (“ADAS”) market and manufactures and commercializes advanced detection and ranging systems and solutions based on light (“LIDAR”) for the mobility market. The Company operates under one operating segment. These consolidated financial statements were prepared on a going concern basis, which presumes the Company will continue its operations for the foreseeable future and will be able to realize its assets and discharge its liabilities in the normal course of operations. In its assessment to determine if the going concern assumption is appropriate, management considers all data available regarding the future for at least, without limiting to, the next twelve months from the date of the consolidated financial statements. The Company has an accumulated deficit of $480,333,695 as at September 30, 2023, and, for the year ended September 30, 2023, incurred a net loss of $51,424,409 and net cash outflows related to operating and investing activities amounting to $36,651,124 and $11,172,500, respectively. As at September 30, 2023, the Company had a cash balance of $5,056,040 and an outstanding credit facility of $30,000,000 with a maturity date of January 31, 2026. Based on cash flow projections, the Company does not expect to have sufficient cash resources in the coming year ending September 30, 2024, to develop its technology, to fund its operations and to comply with its credit facility covenants as renewed. The ability of the Company to fulfill its obligations and finance its future activities depends on its ability to raise capital and the continuous support of its creditors. The Company has historically been successful in raising capital through issuances of equity and debt and refinancing its credit facilities (refer to Note 31). Consequently, the Company believes its effort to raise sufficient funds to support its activities will be successful. However, there can be no certainty as to the ability of the Company to achieve successful outcomes to these matters. This indicates the existence of a material uncertainty that raises substantial doubt about the ability of the Company to continue as a going concern. The accompanying consolidated financial statements do not purport to give effect to adjustments, if any, to the amounts and classifications of assets and liabilities that might be necessary should the Company be unable to continue as a going concern and be required to realize its assets and liquidate its liabilities in other than normal course of business. These consolidated financial statements were approved for issue by the Board of Directors (the “Board”) of the Company on January 29, 2024. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Sep. 30, 2023 | |
Summary of Significant Accounting Policies [Abstract] | |
Summary of significant accounting policies | 2. Statement of compliance These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) issued by the International Accounting Standards Board (“IASB”) . Basis of presentation The consolidated financial statements are prepared on a historical cost basis, except for some financial instruments and share -based Adjustments to comparative figures — correction of errors For the year ended September 30, 2022 and 2021, the Company identified material misstatements in measurement and recognition of certain items to the consolidated financial statements related to the following subjects. • Grant liability: -United -controlling • Development costs: • Other: Accordingly, the consolidated financial statements for the years ended September 30, 2022 and 2021 were restated to reflect adjustments made as a result of these corrections of errors, as disclosed as follow: As at September 30, 2022 Adjustments Consolidated statements of financial position As previously reported Government grant liability Development costs Others Total As restated Assets Government assistance and research and development tax credits receivable 2,845,728 (287,058 ) — — (287,058 ) 2,558,670 Intangible assets, net 34,798,844 (137,173 ) 99,518 — (37,655 ) 34,761,189 Goodwill 7,416,126 — — (98,000 ) (98,000 ) 7,318,126 Liabilities Accounts payable and accrued liabilities 10,652,362 — — 336,000 336,000 10,988,362 Government grant liabilities 979,105 430,589 — — 430,589 1,409,694 Shareholders’ equity (deficiency) Deficit (431,492,229 ) (514,887 ) 99,518 (434,000 ) (849,369 ) (432,341,598 ) Non-controlling interests (5,561,151 ) (339,933 ) — — (339,933 ) (5,901,084 ) Consolidated statements of loss for the year ended September 30, 2022 Adjustments As previously reported Government grant liability Development costs Others Total As restated Cost of sales 5,241,718 — — 69,000 69,000 5,310,718 General and administrative expenses 15,358,226 — — 190,067 190,067 15,548,293 Research and development 21,673,205 403,656 32,050 (51,000 ) 384,706 22,057,911 Finance costs, net (1) (9,945,296 ) 50,915 (140,000 ) — (89,085 ) (10,034,381 ) Net loss and comprehensive (72,864,057 ) (454,571 ) 107,950 (208,067 ) (554,688 ) (73,418,745 ) Net loss attributable to the equity holder of the parent (68,943,994 ) (274,737 ) 107,950 (208,067 ) (374,854 ) (69,318,848 ) Net loss attributable to non-controlling interests (3,920,063 ) (179,834 ) — — (179,834 ) (4,099,897 ) Net loss per common share, basic and diluted, attributable to the equity holder of the parent (511.03 ) — — — (2.78 ) (513.80 ) (1) Consolidated statements of loss for the year ended September 30, 2021 As previously reported Adjustments Government grant liability Development costs Others Total As restated Cost of sales 5,261,390 — — (3,000 ) (3,000 ) 5,258,390 General and administrative expenses 11,700,922 — 95,000 145,933 240,933 11,941,855 Research and development 10,206,764 397,607 571,367 51,000 1,019,974 11,226,737 Finance costs, net (2) 11,694,852 2,643 112,066 (114,000 ) 709 11,695,561 Net loss and comprehensive (47,598,378 ) (400,249 ) (778,433 ) (79,933 ) (1,258,615 ) (48,856,993 ) Net loss attributable to the equity holder of the parent (45,860,522 ) (240,150 ) (778,433 ) (79,933 ) (1,098,516 ) (46,959,038 ) Net loss attributable to non-controlling interests (1,737,856 ) (160,099 ) — — (160,099 ) (1,897,955 ) Net loss per common share, basic and diluted, attributable to the equity holder of the parent (706.13 ) — — — (16.91 ) (723.05 ) (2) Consolidated statements of cash flows for the year ended September 30, 2022 As previously reported Adjustments As restated Operating activities Loss before income taxes (72,864,057 ) (554,688 ) (73,418,745 ) Amortization of intangible assets 308,064 (51,000 ) 257,064 Finance costs, net (7,236,716 ) (140,000 ) (7,376,716 ) Other costs 145,933 (145,933 ) — Foreign exchange gain (1,807,450 ) 50,915 (1,756,535 ) Net change in non-cash working capital items (1,016,971 ) 625,163 (391,808 ) Net cash flows related to operating activities (37,911,354 ) (215,543 ) (38,126,897 ) Investing Activities Grants received related to intangible assets and property and equipment 949,609 36,686 986,295 Net cash flows related to investing activities (12,037,428 ) 36,686 (12,000,742 ) Financing activities Government grant liability issuance — 178,857 178,857 Net cash flows related to financing activities 73,768,733 178,857 73,947,590 Consolidated statement of cash flows for the year ended September 30, 2021 As previously reported Adjustments As restated Operating activities Net loss (47,598,378 ) (1,258,615 ) (48,856,993 ) Amortization of intangible assets 412,784 51,000 463,784 Finance costs, net 11,549,151 (1,934 ) 11,547,217 Other costs — 145,933 145,933 Foreign exchange gain (101,939 ) 2,643 (99,296 ) Net change in non-cash working capital items 2,755,712 744,116 3,499,828 Net cash flows related to operating activities (20,472,490 ) (316,857 ) (20,789,347 ) Investing Activities Grants received related to intangible assets and property and equipment 515,588 125,445 641,033 Net cash flows related to investing activities (16,631,435 ) 125,445 (16,505,990 ) Financing activities Government grant liability issuance — 191,412 191,412 Net cash flows related to financing activities 41,547,256 191,412 41,738,668 Basis of consolidation These consolidated financial statements include the accounts of the Company and those of its subsidiaries. The Company’s subsidiaries are as follows: Name of subsidiary Place of incorporation and operation Proportion of ownership interest held by the Company 2023 2022 LeddarTech USA Inc U.S. 100 % 100 % LeddarTech (Shenzhen) Sensing Technology Co., Ltd China 100 % 100 % Vayavision Sensing, Ltd. (“Vayavision”) Israel 60 % 60 % LeddarTech Germany GmbH Germany 100 % 100 % LeddarTech Holdings Inc. Canada 100 % N.A. The Company consolidates investees when, based on the evaluation of the substance of the relationship with the Company, it concludes that it controls the investees. The Company controls an investee when it is exposed, or has rights, to variable returns from its involvement with the investee, has power over the investee (i.e., existing rights that give it the current ability to direct the relevant activities of the investee), and has the ability to affect those returns through its power over the investee. When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies in line with the Company’s accounting policies. All intercompany balances and transactions are eliminated upon consolidation. When a subsidiary is not wholly owned, the Company recognizes the non -controlling Foreign currency translation a) Functional and presentation currency These consolidated financial statements are presented in Canadian dollars, which is also the Company’s functional currency. The Company determines the functional currency of each foreign operation and items included in the financial statements of each foreign operation are measured using that functional currency. The Canadian dollar is the functional currency of all foreign operations. b) Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the transaction date. Foreign exchange gains and losses resulting from the settlement of foreign currency transactions and from the translation at the year -end Financial instruments a) Recognition and derecognition Financial instruments are recognized in the consolidated statement of financial position when the Company becomes a party to the contractual obligations of the instrument. On initial recognition, financial instruments are recognized at their fair value, and in the case of financial liabilities not at fair value through profit or loss (“FVTPL”), net of transaction costs that are directly attributable to the issue of such financial liabilities. Financial assets are subsequently derecognized when payment is received in cash or other financial assets or if the debtor is discharged of its liability. A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. When the terms of the liability are substantially modified, such modification is treated as a debt extinguishment and results in the derecognition of the original liability and the recognition of a new liability at fair value. The difference in the respective carrying amounts is recognized in the consolidated statement of loss. If an exchange of debt instruments or modification of terms is accounted for as an extinguishment, any costs or fees incurred are recognised as part of the gain or loss on the extinguishment. If the exchange or modification is not accounted for as an extinguishment, any costs or fees incurred adjust the carrying amount of the liability and are amortised over the remaining term of the modified liability. b) Classification Subsequent to initial recognition, financial instruments are measured according to the category to which they are classified. Financial instruments are classified and measured at amortized cost, or classified at FVTPL or designated at FVTPL, in which case they are subsequently measured at fair value. The classification of financial assets and liabilities is driven by the Company’s business model for managing the assets or liabilities and their contractual cash flow characteristics. Financial assets that are held to collect contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortized cost. Financial liabilities are measured at amortized cost, unless the Company has opted to measure them at FVTPL. The Company classifies cash and trade receivable and other receivables (excluding commodity taxes receivable) as financial assets measured at amortized cost and accounts payable and accrued liabilities (excluding deferred revenue), term loan, credit facility, convertible notes, other loan and the government grant liabilities as financial liabilities measured at amortized cost. The call options (note 18a) held by the Company are classified as a derivative financial asset measured at FVTPL. The put option (note 18a) is classified as a non -derivative c) Impairment of financial instruments The expected credit losses associated with debt instruments carried at amortized cost is assessed on a forward -looking Inventories Raw materials and finished goods are recorded at the lower of cost and net realizable value. Cost is determined using the first -in -out 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. If a decline in the price of raw materials indicates that the cost of the finished goods exceeds net realizable value, the raw materials are written down to the replacement cost of the materials, which is the best available measure of the net realizable value. When circumstances that previously caused inventories to be written down below cost no longer exist or when there is a clear evidence of an increase in selling prices, the amount of the previously recorded write -down Property and equipment Property and equipment are initially recorded at cost and subsequently measured at cost, less accumulated depreciation and impairment. Depreciation is calculated using the straight -line Computer equipment 3 years Office furniture and equipment 5 years R&D equipment and tools 5 years Stands and moulds 4 and 10 years Leasehold improvements Term of lease Vehicles 5 years Estimated useful life and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimates being accounted for on a prospective basis. The depreciation of property and equipment is recognized in the consolidated statement of loss in the expense category that is consistent with the function of the property and equipment or capitalized as development costs. Leases The Company assesses at contract inception whether a contract is, or contains, a lease; that is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Company applies a single recognition and measurement approach for all leases, except for short -term -value -of-use -of-use -of-use -of-use -line Office premises 3 to 15 years Other equipment 3 to 5 years The depreciation of right -of-use -of-use At the commencement date of the lease, the Company recognizes lease liabilities measured at the present value of lease payments to be made over the lease term, which includes the net present value of fixed payments and the value of any options to extend a lease where the Company is reasonably certain to do so. In calculating the present value of lease payments, the Company uses the interest rate implicit in the lease or, if that rate cannot be readily determined, the Company’s incremental borrowing rate. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. Lease payments on short -term -value -line Business combinations and goodwill Business combinations are accounted for using the acquisition method. Acquisition -related The Company determines that it has acquired a business when the acquired set of activities and assets include at least an input and a substantive process that together significantly contribute to the ability to create outputs. The acquired process is considered substantive if it is critical to the ability to continue producing outputs, and the inputs acquired include an organized workforce with the necessary skills, knowledge, or experience to perform that process or it significantly contributes to the ability to continue producing outputs and is considered unique or scarce or cannot be replaced without significant cost, effort, or delay in the ability to continue producing outputs. When the Company acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as at the acquisition date. This includes the separation of embedded derivatives in host contracts by the acquiree. Goodwill is initially measured at cost (being the excess of the aggregate of the consideration transferred and the amount recognized for non -controlling Intangible assets Intangible assets consist of patents, licenses, software, others and development costs with finite useful lives. Intangible assets are initially recorded at cost and subsequently measured at cost, less accumulated amortization and impairment. In regard to patents, costs are capitalized during the application period and are being amortized from the grant date over the residual life of the patent, which does not exceed 20 years from the application date. Amortization is calculated using the straight -line Patents Life of the patent Licenses 10 and 18 years Software 3 years Others 10 years Development costs Period of expected future sales from the related project (1) (1) Estimated useful life and the amortization method are reviewed at the end of each reporting period, with the effect of any changes in estimates being accounted for on a prospective basis. The amortization expense on intangible assets with finite useful lives is recognized in the consolidated statement of loss in the expense category that is consistent with the function of the intangible assets or capitalized as development costs. Borrowing costs directly attributable to the acquisition, construction or production of an asset that take a substantial period of time to get ready for its intended use or sale are capitalized as part of the cost of the asset. Developments costs related to the Company’s projects to develop and enhance the technology and capabilities of autonomous driving applications and advanced driver assistance systems (“ADAS”) are considered to be qualified assets eligible for borrowing costs capitalization. Borrowing costs consist of interest expense calculated using the effective interest method (this includes the effective interest on term loans and other debts including an implicit interest on convertible loans and credit facilities at FVTPL), interest on lease liabilities and other issuance costs that are incurred in connection with the borrowing of funds. Borrowing costs do not include gain or loss on revaluation of instruments carried at fair value. When the Company borrows funds specifically to obtain a particular qualifying asset, the borrowing costs that are directly related to that qualifying asset during the period are capitalized. When the Company borrows funds generally and uses them for the purpose of obtaining a qualifying asset, the Company determines the amount of borrowing costs eligible for capitalization by applying a capitalization rate to the expenditures on that asset. Expenditure on qualifying assets includes only the expenditure resulting in the payment of cash, the transfer of other assets or the assumption of interest -bearing Research and development costs Research costs are expensed as incurred. Development costs on an individual project are recognized as an intangible asset when the Company can demonstrate: • • • • • Impairment of non-financial assets For the purposes of assessing impairment, assets are grouped in cash -generating -of-use -tax An impairment loss is recognized in the amount by which the carrying amount of an asset or CGU exceeds its recoverable amount. When the recoverable amount of a CGU to which goodwill has been allocated is lower than the CGU’s carrying amount, the related goodwill is first impaired. Any excess amount of impairment is recognized and attributed to assets in the CGU, prorated to the carrying amount of each asset in the CGU. In allocating an impairment loss, the Company shall not reduce the carrying amount of an asset below the highest of its fair value less costs of disposal (if measurable), its value in use (if determinable) and zero. The Company evaluates impairment losses for potential reversals when events or circumstances require such considerations, except for goodwill. Government grants and Research and development (“R&D”) tax credits Government grants and Research and development (“R&D”) tax credits are recognized when there is reasonable assurance that the grant will be received and all attached conditions will be complied and will continue to comply with all the conditions related to such assistance. The Company recognizes the grants as other income or as a reduction of capital expenditures in the period that the related expenses or expenditures are incurred. Provisions Provisions are recognized when the Company has a present obligation (legal or constructive) 1) as a result of a past event; 2) when it is more probable than not that an outflow of resources embodying economic benefits will be required to settle the obligation; and, 3) when a reliable estimate can be made of the amount of the obligation. The expense relating to any provision is accounted for in the consolidated statements of loss. If the known expected settlement date exceeds twelve months from the date of recognition, provisions are discounted using a current pre -tax The provisions are related to onerous contracts. These represent firm customer purchase orders in which the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to be received under it. The unavoidable costs are the cost of fulfilling the contracts. Government grant liabilities Government grants that include a reimbursement clause based on the Company sales of a specific program are accounted for as a financial liability. At initial recognition, the government grant is estimated at the present value of all future cash disbursements. After the initial recognition, the government grant is measured at amortized cost using the effective interest method. Assumptions underlying expected sales are reviewed annually and are used to derive expected repayment schedules. When the expected repayment schedule changes, the Company recalculates the carrying value of the government grant liability using the original effective interest rate, with the corresponding gain or loss accounted for in financial expenses. Capital stock The Company classifies a financial instrument, or its component part, as a financial liability, a financial asset or an equity instrument in accordance with the substance of the contractual arrangement and the definitions of a financial liability, a financial asset and an equity instrument. In order to determine whether a financial instrument is an equity instrument rather than a financial liability, the instrument is an equity instrument if, and only if: a) the instrument includes no contractual obligation to deliver cash or another financial asset to another entity or to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the Company and b) if the instrument will or may be settled in the Company’s own equity instruments, it is i) a non -derivative The Company determined that its preferred shares containing conversion features as a whole are a non -derivative Share-based compensation For equity -settled -based The Company also offers equity -settled -settled -based -based -based a) Equity -settled The fair value of stock options is determined at the date of the grant using the Black -Scholes The cumulative expense recognized for equity -settled -market b) Cash -settled A liability is recognized for the fair value of cash -settled Defined contribution pension plans The Company offers a defined contribution pension plan to its Canadian employees. The Company pays an annual contribution amounting to 3% of employee eligible salary on a civil year basis and has no legal or constructive obligation to pay further amounts. As a result, no related liability appears on the consolidated statement of financial position, except for the expense recognized for contributions due but not yet paid at the end of the reporting period. Contributions paid and payable to the defined contribution plan are expensed as incurred. The Company’s contribution related to the defined contribution plan for the year ended September 30, 2023, amounted to $283,545 ($400,658 in 2022), a portion of which was capitalized as intangible assets. Additionally, the Company offers a defined contribution pension plan to employees of its Israeli subsidiary, which complies with the local laws in that country. The Company pays an annual contribution amounting to 8.33% of the employee eligible salary towards the severance pay component. The Company pays an annual contribution amounting to 6.5% of the employee eligible salary towards the pension component. The Company’s contribution related to the Israeli subsidiary defined contribution plan for the year ended September 30, 2023, amounted to $1,057,881 ($1,101,890 in 2022), a portion of which was capitalized as intangible assets. Revenue recognition Revenue from contracts with customers is recognized for each performance obligation, either over a period of time or at a point of time, depending on which method reflects the transfer of controls of the services underlying the particular performance obligation to the customer. Revenue from sales of products in the consolidated statement of loss is recognized at the point in time when the Company has transferred control of the products to the buyer, which is generally on delivery of the product. The Company generally has a right to payment at the time of delivery, which is the same time that the Company has satisfied its performance obligation under the arrangement, as such a receivable is recognized as the consideration is unconditional and only the passage of time is required before the payment is due. Consideration received from customers for which the Company has an obligation to transfer products or services is recorded as a deferred revenue. Income taxes a) Current income taxes Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted at the reporting date in the countries where the Company operates and generates taxable income. Current income tax relating to items recognized directly in equity is recognized in equity and not in the consolidated statement of loss and comprehensive loss. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate. b) Deferred income taxes The Company accounts for deferred income taxes using the liability method. Under this method, deferred income tax assets and liabilities are determined based on deductible or taxable temporary differences between the carrying amounts and tax bases of the assets and liabilities, using enacted or substantively enacted income tax rates expected to be in effect for the year in which differences are expected to reverse. Deferred income tax assets are recorded only to the extent that it is probable that they will be recovered. Fair value measurement The fair value of a financial instrument is equal to the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as at the measurement date. Fair value is based on the presumption that the transaction takes place in the principal market for the asset or liability. The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. Fair value requires the use of valuation techniques and assumptions. Fair value amounts disclosed in these consolidated financial statements represent the Company’s estimate of the price at which a financial instrument could be sold or transferred between market participants. They are point -in-time All assets and liabilities for which fair value is measured in the consolidated financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole: Level 1 — Valuation based on quoted prices in active markets (unadjusted) for identical assets or liabilities. Level 2 — Valuation techniques based on inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices). Level 3 — Valuation techniques for which a significant input for the asset or liability is not based on observable market data (unobservable inputs). |
Significant Accounting Judgment
Significant Accounting Judgments, Estimates and Assumptions | 12 Months Ended |
Sep. 30, 2023 | |
Significant Accounting Judgments, Estimates and Assumptions [Abstract] | |
Significant accounting judgments, estimates and assumptions | 3. The preparation of consolidated financial statements requires management to make judgments, estimates and assumptions that affect the amounts of revenue, expenses, assets and liabilities and the accompanying disclosures. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods. These estimates and assumptions also affect the disclosure of contingencies at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the year. Judgments Development costs The Company capitalizes costs for product development projects. Initial capitalization of costs is based on management’s judgment that the Company can demonstrate the existence of a market for the product developed and that it will have the technical and financial capacity to complete the project until commercialization. Estimates and assumptions Government grant liabilities The Company has government grants that include reimbursement clauses based on the sales of a specific program. In order to account for the present value under the effective interest method, or upon initial recognition, management must estimate the future sales over the expected duration of reimbursement. These forecasts are used to determine the expected repayment schedule. Refer to note 15. Share-based payments The Company initially measures at fair value the cost of equity -settled -Scholes The assumptions used to estimate fair value for share -based Recoverable amount of a group of assets or a CGU When an impairment test is performed on an asset or a CGU, management estimates the recoverable amount of the asset or CGU based on its fair value less costs of disposal or its value in use. These estimates are based on valuation models requiring the use of a number of assumptions such as forecasts of future cash flows, pre -tax Significant Estimates for debt, including bifurcation The Company holds certain financial instruments, including convertible loan, which requires management to make significant estimates and assumptions that affect the reported amounts in the consolidated financial statements. The following provides information about the key estimates associated with the valuation of debt instruments, specifically those that involve bifurcation. i. Bifurcation of debt instruments: The Company has debt instruments with embedded features that may require bifurcation for accounting purposes. Bifurcation separates the host contract and the embedded features to be accounted for separately. The valuation of the embedded features, such as conversion options or detachable warrants, is a significant estimate that involves subjective judgment and market -based ii. Valuation methodology: The fair value of the bifurcated embedded features is determined using a combination of valuation techniques, including option pricing models and market -based -free iii. Assumptions and uncertainties: Company’s estimates of fair value involve inherent uncertainties due to the subjective nature of certain inputs. Changes in assumptions related to volatility, credit spreads, or other market conditions could materially impact the fair value measurement. Additionally, the Company considers the possibility of changes in the terms of the debt instrument that may trigger reassessment of the bifurcation. |
Restructuring Costs and Others
Restructuring Costs and Others | 12 Months Ended |
Sep. 30, 2023 | |
Restructuring Costs and Others [Abstract] | |
Restructuring costs and others | 4. Restructuring Restructuring mainly involves two components of the Company, referred to as “Components” and “Modules”. In 2023, LeddarTech announced restructuring initiatives driven by a change in the focus of the Company’s operations, now focused on services and products targeted at the ADAS and AD markets. These initiatives, consisting of the reduction of the workforce, have mostly been completed over the fiscal year ending September 30, 2023. In 2023, restructuring costs of $1,756,433 were incurred and paid. Although our Modules business has been actively commercialized for many months, no potential buyer has been identified and the underlying assets have not shown to be attractive on the current market. There is no Letter of Intention or any other indication that the sale of our Modules business or of any of the underlying asset could be highly probable. Thus, we determined that it is not highly probable that a sale will be completed within the next 12 months. For the Components business, LeddarTech originally had the intention of selling the business; however, in September 2022, it was determined that Components business would be wound down. All assets related to the Components business were deemed impaired as of September 30, 2022, except for $4.3 million related to one contract under negotiation at that time, which did not culminate in a project and were subsequently deemed impaired in 2023 (note 11). Other On June 15, 2023, the Company announced that it was abandoning Modules over the coming months. The Company launched with its customers the last time buy process in June 2023. Following a review of its revenues forecasts for certain programs, a write -down |
Segments
Segments | 12 Months Ended |
Sep. 30, 2023 | |
Segments [Abstract] | |
Segments | 5. The Company operates as one operating and reportable segment. The Company’s Chief Operating Decision Maker is its Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance and allocating resources. The following table presents revenue by location based on the primary billing address of the customer: Year ended September 30, 2023 2022 2021 $ $ $ United States 2,863,154 4,609,147 2,909,415 France 2,433,571 775,891 1,606,589 South Korea 744,466 502,461 787,026 Hong Kong 646,696 296,838 195,038 Germany 182,351 266,662 293,104 Canada 131,675 709,172 425,521 Japan 124,384 263,752 182,840 Poland 116,810 — — Columbia 54,767 — — United Kingdom — 300,211 612,456 Italy — 171,237 — Turkey — 156,420 505,189 China — 125,441 — New Zealand — 71,015 158,115 Vietnam — — 167,436 Other 149,303 517,874 388,597 7,447,177 8,766,121 8,231,326 For the year ended September 30, 2023, two customers accounted for 34% and 31% (34% and 8% in 2022), respectively, of the Company’s revenue. The following table presents non -current -of-use -term As restated As at September 30, 2023 2022 $ $ Canada 20,480,112 20,587,675 Israel 37,688,596 31,007,023 58,168,708 51,594,698 |
Revenue
Revenue | 12 Months Ended |
Sep. 30, 2023 | |
Revenue [Abstract] | |
Revenue | 6. For the year ended September 30, 2023 and 2022, the Company generated only point -in-time Contract balances The Company’s contract balances primarily consist of trade accounts receivable (note 7) and contract liabilities related to payments received from customers in advance of shipping goods. The Company recorded the following activity related to customer prepayments, which are recorded as deferred revenue within “Accounts payable and accrued liabilities” (note 12): As at September 30, 2023 2022 2021 Balance, beginning of year 311,516 5,845 100,271 Additions to prepayments received in the year 2,862,150 2,178,427 2,046,289 Customer fulfillments from accrual (2,069,437 ) (1,872,756 ) (2,140,715 ) Balance, end of year 1,104,229 311,516 5,845 |
Trade Receivable and Other Rece
Trade Receivable and Other Receivables | 12 Months Ended |
Sep. 30, 2023 | |
Trade Receivable and Other Receivables [Abstract] | |
Trade receivable and other receivables | 7. As at September 30, 2023 2022 Trade accounts receivable 1,663,495 2,483,083 Commodity taxes receivable 1,407,560 693,250 Others 618,420 609,948 3,689,475 3,786,281 Trade accounts receivable are non -interest nil |
Inventories
Inventories | 12 Months Ended |
Sep. 30, 2023 | |
Inventories [Abstract] | |
Inventories | 8. As at September 30, 2023 2022 Raw materials 942,860 2,546,853 Finished goods 304,086 390,296 1,246,946 2,937,149 Inventories recognized as an expense in cost of sales during the year amount to $7,521,845 ($5,241,718 in 2022). The Company recognized $2,299,866 of write -down |
Property and Equipment
Property and Equipment | 12 Months Ended |
Sep. 30, 2023 | |
Property and Equipment [Abstract] | |
Property and equipment | 9. Computer $ Office $ R&D $ Stands and $ Leasehold $ Vehicles $ Total $ Cost October 1, 2022 4,867,724 1,108,834 1,166,561 898,697 1,133,617 192,205 9,367,638 Additions 147,799 — 49,554 — (8,578 ) — 188,775 Disposals — (35,000 ) (10,000 ) — — — (45,000 ) September 30, 2023 5,015,523 1,073,834 1,206,115 898,697 1,125,039 192,205 9,511,413 Accumulated depreciation October 1, 2022 3,376,015 856,301 657,734 497,133 259,710 97,736 5,744,629 Depreciation (1) 916,022 104,296 336,380 132,598 156,690 49,341 1,695,327 September 30, 2023 4,292,037 960,597 994,114 629,731 416,400 147,077 7,439,956 Net book value September 30, 2023 723,486 113,237 212,001 268,966 708,639 45,128 2,071,457 (1) Computer equipment $ Office furniture and equipment $ R&D equipment and tools $ Stands and $ Leasehold $ Vehicles $ Total $ Cost October 1, 2021 3,706,414 1,019,548 1,057,757 878,553 403,070 129,405 7,194,747 Additions 1,161,310 89,286 108,804 20,144 730,547 62,800 2,172,891 September 30, 2022 4,867,724 1,108,834 1,166,561 898,697 1,133,617 192,205 9,367,638 Accumulated depreciation October 1, 2021 2,340,938 648,503 501,916 438,391 162,541 50,322 4,142,611 Depreciation (1) 1,035,077 207,798 155,818 58,742 97,169 47,414 1,602,018 September 30, 2022 3,376,015 856,301 657,734 497,133 259,710 97,736 5,744,629 Net book value September 30, 2022 1,491,709 252,533 508,827 401,564 873,907 94,469 3,623,009 (1) Computer $ Office $ R&D $ Stands and $ Leasehold $ Vehicles $ Total $ Cost October 1, 2020 2,578,827 1,003,451 905,695 704,565 386,641 73,562 5,652,741 Additions 1,322,463 18,334 177,728 213,377 17,245 67,720 1,816,867 Grants (note 23) (194,876 ) (2,237 ) (25,666 ) (39,389 ) (816 ) (11,877 ) (274,861 ) September 30, 2021 3,706,414 1,019,548 1,057,757 878,553 403,070 129,405 7,194,747 Accumulated depreciation October 1, 2020 1,445,903 469,404 316,258 367,041 98,345 23,976 2,720,927 Depreciation (1) 895,035 179,099 185,658 71,350 64,196 26,346 1,421,684 September 30, 2021 2,340,938 648,503 501,916 438,391 162,541 50,322 4,142,611 Net book value September 30, 2021 1,365,476 371,045 555,841 440,162 240,529 79,083 3,052,136 (1) Depreciation is included in the consolidated statement of loss as follows: Year ended September 30, 2023 2022 2021 Cost of sales 214,828 157,819 142,870 Marketing and product management 1,686 624 18,338 General and administrative expenses 794,273 1,108,835 926,354 Research and development costs 263,810 181,589 45,271 1,274,597 1,448,867 1,132,833 |
Leases
Leases | 12 Months Ended |
Sep. 30, 2023 | |
Leases [Abstract] | |
Leases | 10. The Company has lease contracts for office premises and other equipment. The Company’s obligations under its leases are secured by the lessor’s title to the leased assets. Set out below are the carrying amounts of right -of-use Office premises Other equipment Total October 1, 2020 4,434,654 25,087 4,459,741 Additions 6,951 — 6,951 Depreciation 1 (522,323 ) (7,262 ) (529,585 ) September 30, 2021 3,919,282 17,825 3,937,107 Additions 2,686,444 — 2,686,444 Depreciation (1) (723,915 ) (7,262 ) (731,177 ) September 30, 2022 5,881,811 10,563 5,892,374 Lease modification (879,689 ) (879,689 ) Reassessment of the right-of-use assets (888,426 ) — (888,426 ) Depreciation (1) (938,071 ) (5,870 ) (943,941 ) September 30, 2023 3,175,625 4,693 3,180,318 (1) -of-use Set out below are the carrying amounts of lease liabilities and the movements during the year ended September 30: 2023 2022 2021 Balance, beginning of year 6,579,103 4,264,983 4,673,283 Additions — 2,686,444 6,951 Lease modification (958,296 ) — — Reassessment of the lease liability (888,426 ) — — Accretion of interest 401,229 551,291 303,390 Gain on foreign exchange (213,333 ) (55,852 ) — Lease payments (1,139,044 ) (867,763 ) (718,641 ) Balance, end of year 3,781,233 6,579,103 4,264,983 Current 722,675 673,605 320,488 Non-current 3,058,558 5,905,498 3,944,495 Depreciation of right -of-use Year ended September 30, 2023 2022 2021 Cost of sales 48,542 50,071 43,752 Marketing and product management 5,778 11,303 24,885 Selling expenses 5,526 11,247 13,319 General and administrative expenses 455,932 237,596 53,626 Research and development costs 66,158 300,724 258,003 581,936 610,941 393,585 The maturity analysis of lease liabilities based on contractual undiscounted payments is as follows: $ Less than 1 year 1,082,230 1 to 5 years 3,490,733 More than 5 years 99,388 4,672,351 The following are the amounts recognized in net loss: Year ended September 30, 2023 2022 2021 Depreciation expense of right-of-use assets 581,936 610,941 393,585 Interest expense on lease liabilities 401,229 551,291 303,390 Expense relating to short-term leases — 16,649 56,614 Expense relating to leases of low-value assets — 37,477 852 Variable lease payments — 2,805 150,130 Gain on foreign exchange (213,333 ) (55,852 ) — 769,832 1,163,311 904,571 |
Intangible Assets
Intangible Assets | 12 Months Ended |
Sep. 30, 2023 | |
Intangible Assets [Abstract] | |
Intangible assets | 11. Patents $ Licenses $ Software $ Development costs (2) $ Others $ Total $ Cost October 1, 2022 2,321,660 2,610,533 575,719 69,926,228 94,810 75,528,950 Additions 1,128,795 — — 12,769,457 — 13,898,252 Borrowing costs (1) — — — 3,898,829 — 3,898,829 Write-offs (3) — (1,424,196 ) — (40,993,947 ) — (42,418,143 ) R&D tax credits (note 23) — — — (256,234 ) — (256,234 ) Grants (note 23) — — — (268,460 ) — (268,460 ) September 30, 2023 3,450,455 1,186,337 575,719 45,075,873 94,810 50,383,194 Accumulated amortization and impairment October 1, 2022 798,878 1,147,272 476,003 38,278,286 67,322 40,767,761 Amortization 260,129 36,489 44,995 56,682 5,734 404,029 Impairment — 1,424,196 — 4,367,243 — 5,791,439 Write-offs (3) — (1,424,196 ) — (40,993,947 ) — (42,418,143 ) September 30, 2023 1,059,007 1,183,761 520,998 1,708,264 73,056 4,545,086 Net book value September 30, 2023 2,391,448 2,576 54,721 43,367,609 21,754 45,838,108 (1) (2) (3) i. -off ii. The recoverable amount of the CGU is determined based on the higher of its value -in-use -in-use The recoverable amount of the CGU, including goodwill and intangible assets not yet available for use, exceeds its carrying amount. The model is particularly sensitive to the future expected cash flows in the upcoming periods, should these not be realized, an impairment loss may be needed in future periods. Patents $ Licenses $ Software $ Development costs $ Others $ Total $ (Restated – (Restated – Cost October 1, 2021 1,966,646 2,595,473 494,149 49,764,539 94,810 54,915,617 Additions 355,014 15,060 81,570 14,894,330 (1)(2) — 15,345,974 Borrowing costs — — — 6,994,197 (3) — 6,994,197 R&D tax credits (note 23) — — — (776,050 ) — (776,050 ) Grants (note 23) — — — (950,788 ) — (950,788 ) September 30, 2022 2,321,660 2,610,533 575,719 69,926,228 94,810 75,528,950 Accumulated amortization and impairment October 1, 2021 678,067 910,756 399,808 28,374 61,316 2,078,321 Amortization 120,811 236,516 76,195 42,409 6,006 481,937 Impairment — — — 38,207,503 (5) — 38,207,503 September 30, 2022 798,878 1,147,272 476,003 38,278,286 67,322 40,767,761 Net book value September 30, 2022 1,522,782 1,463,261 99,716 31,647,942 (4) 27,488 34,761,189 (1) -settled IFRS 3, Business Combinations (2) (3) (4) (5) -financial i. -off ii. Patents $ Licenses $ Software $ Development $ Others $ Total $ (Restated – (Restated – Cost October 1, 2020 1,658,213 2,592,589 457,382 29,453,730 94,810 34,256,724 Additions 348,073 2,884 44,025 16,667,043 (1) — 17,062,025 Borrowing costs — — — 6,304,340 (2) — 6,304,340 R&D tax credits (note 23) — — — (995,506 ) — (995,506 ) Grants (note 23) (39,640 ) — (7,258 ) (1,665,068 ) — (1,711,966 ) September 30, 2021 1,966,646 2,595,473 494,149 49,764,539 94,810 54,915,617 Accumulated amortization October 1, 2020 512,852 538,907 269,323 14,186 54,396 1,389,664 Amortization 165,215 371,849 (1) 130,485 14,188 6,920 688,657 September 30, 2021 678,067 910,756 399,808 28,374 61,316 2,078,321 Net book value September 30, 2021 1,288,579 1,684,717 94,341 49,736,165 (3) 33,494 52,837,296 (1) (2) (3) Amortization is included in the consolidated statement of loss as follows: Year ended September 30, 2023 2022 2021 General and administrative expenses 52,160 127,764 207,318 Research and development costs 234,334 129,300 256,466 286,494 257,064 463,784 |
Accounts Payable and Accrued Li
Accounts Payable and Accrued Liabilities | 12 Months Ended |
Sep. 30, 2023 | |
Accounts Payable and Accrued Liabilities [Abstract] | |
Accounts payable and accrued liabilities | 12. As restated (note 2) 2023 2022 Trade payables and accrued liabilities 6,466,196 3,626,462 Salaries and fringe benefits 5,757,652 6,584,878 Interest payable on credit facility 221,247 353,014 Deferred revenue (note 6) 1,104,229 311,516 Others 21,581 112,492 13,570,905 10,988,362 |
Provisions
Provisions | 12 Months Ended |
Sep. 30, 2023 | |
Provisions [Abstract] | |
Provisions | 13. The following table details the changes in provisions between September 30, 2022 and 2023: Onerous contracts Balance, as at September 30, 2022 — New provisions 1,652,216 Revision of estimations (287,021 ) Provisions utilized (487,051 ) Balance, as at September 30, 2023 878,144 |
Long-Term Debt
Long-Term Debt | 12 Months Ended |
Sep. 30, 2023 | |
Long Term Debt Abstract | |
Long-term debt | 14. The following table details the maturities and weighted average interest rates related to long -term Final Weighted average effective interest rate 2023 2022 Convertible loan (a) 2028 33.65 11,258,950 — Credit facility (b) 2026 17.58 28,747,705 30,000,000 Term loan (c) 2030 33.65 7,718,928 10,034,513 Other loan (e) 2023 N/A — 1,582,780 Long-term debt 23.96 47,725,583 41,617,293 Current portion of long-term debt — 30,342,675 Long-term debt 47,725,583 11,274,618 In April and June 2023, the Company’s long -term a) Convertible loan Company refinancing — Business Combination and Subscription Agreement On June 12, 2023, the Company entered into a Business Combination Agreement (the “BCA”) with Prospector Capital Corp. (“Prospector”) (Refer to note 31). Concurrently with the execution of the BCA, LeddarTech entered into subscription agreements (the “Subscription Agreements”) with certain investors (the “PIPE Investors”), pursuant to which the PIPE Investors agreed to subscribe an aggregate principal amount of at least US$43,000,000 in two Tranches. On June 13, 2023, the PIPE Investors paid US$21,660,000 in cash ($28,957,266) for Tranche A -1 -1 -outstanding The Agreement contains customary covenants that provide for, among other things, limitations on indebtedness and fundamental changes, and reporting requirements. On June 13, 2023, upon initial recognition, the $28,957,266 of Tranche A -1 • -1 • -Scholes • -1 -Scholes The fair value of the conversion option and the warrants at initial recognition were determined using the Black -Scholes Conversion option Warrants Fair value of the underlying share US$ US$ Exercise price US$ US$ Risk-free interest rate 4 % 5 % Expected volatility 60 % 60 % Expected life 5.00 years 0.04 years Dividend yield 0 % 0 % The transaction fees of $529,047 were incurred in relation to the Subscription Agreement. The fees were allocated to Tranche A and B in proportion of the amount of each tranche. The Tranche A fee was allocated based on the relative value of each component and $92,583 was recognised as a reduction of the Convertible Note and $171,940 was recognised in net loss under Transaction costs. The fees attributable to Tranche B have been recognised as a long -term In June 2023, the warrants were exercised, thus 595,650 D -1 In July 2023, PIPE investors paid US$340,530 in cash ($449,159) for an additional Tranche A subscription (Tranche A -2 -1 -2 • -2 • -Scholes • -1 -Scholes The fair value of the conversion option and the warrants at initial recognition were determined using the Black -Scholes In August 2023, the warrants were exercised, thus 9,354 D -1 b) Credit facility On January 23, 2020, the Company contracted a term loan for a maximum authorized amount of $30,000,000 (“2020 credit facility”) bearing interest based on the Canadian prime rate or US base rate plus 6.05% or 10% for the first 12 months, with an extension at the option of the Company for a period of nine months bearing interest at 10.5%, to refinance the 2018 credit facility and support research and development. The loan will become due and payable upon the first of the two following scenarios: (1) upon the reception of a financing round; and (2) December 31, 2020, unless the option to extend is exercised by the Company. The facility was renewed and modified in 2021. The Credit facility, composed of a term loan, an operating loan and a derivative risk facility were coming to maturity on April 30, 2023. On April 5, 2023, 25 days before maturity of the term loan, the Company entered into an Amended and Restated Financing Offer and the term loan under the credit facility was renewed for a period of 30 months. The operating loan and the derivative risk facilities were terminated. Concurrently, the Company secured a bridge loan with the same lender (note 14d). The existing $30,000,000 facility was extinguished through the issuance of this new instrument. The principal remaining at $30,000,000 bare interest at floating interest rate based on the Canadian prime rate or US base rate plus 9.00%. No gain or loss is recognised as a result of this renewal of the credit facility. Transaction costs of $1,412,286 are included in the initial measurement of financial liabilities at the time of renewal, resulting in an effective interest rate of 17.6%. The new credit facility’s maturity date is January 31, 2026. The operating conditions of the Credit facility provided for is similar to the preceding agreement, except that it provides for accelerated reimbursement for any amount in excess of US$15.0 million contributed by Prospector in the Business Combination Agreement referred to above as well as 25% of any net cash proceeds from the sale of equity securities in excess of US$43.0 million (including from the PIPE Financing, but excluding amounts contributed by Prospector in the Business Combination Agreement referred to above). Furthermore, upon the receipt of net cash proceeds from the sale of the Modules Business Unit and/or the components assets related to the Components Business Unit, 100% of such net cash proceeds shall be used to make a repayment on the outstanding loans. Under the Credit facility, the Company must maintain an unencumbered cash balance equal to or greater than (i) $2.5 million through completion of the Business Combination, (ii) $10 million from completion of the Business Combination through October 31, 2024, (iii) $7.5 million from November 1, 2024 through December 31, 2024, (iv) $5.0 million from January 1, 2025 through September 30, 2025, and (iv) $3.5 million at all times thereafter. As at September 30, this financial covenant was respected. As at September 30, 2023, the Company has drawn $30,000,000 from the credit facility ($30,000,000 as at September 30, 2022). c) Term loan On January 23, 2020, the Company signed a non -interest-bearing -year In conjunction with the term loan agreement, the Company committed to issue warrants (the “Warrants”) to the lender. During the year ended September 30, 2021, as per the term loan agreement, the Company issued 13,890 warrants to the lender with a strike price of $138.68. The number of warrants represents 10% of the total amount drawn as at September 30, 2021, of $19,262,586 divided by the strike price. These warrants met the definition of a derivative liability and were therefore recorded at fair value. Once the warrants were issued to the lender, they met the fixed -for-fixed During the year ended September 30, 2023 and 2022, no warrant was issued by the Company and no gain or loss on revaluation of the derivative warrant liability was recognized since all warrants were previously reclassified as equity. As part of the BCA and Subscription agreement negotiations, the conditions of the Term loan were revised, effective June 12, 2023. The original interest free loan now bears an interest rate of 12%. Capital and capitalized interests will be reimbursable over a period of 42 months starting October 31, 2026. The modification was deemed to be substantial and the existing loan with book value of $11,315,767 was derecognised and a new instrument recognised based on its fair value. On the date of modification, the fair value of the Term loan was estimated at $6,983,592 based on a 33.65% discount rate. The difference between the carrying value of the existing loan and the new loan of $4,332,175 with the carrying value at that date was recorded in the Consolidated statements of loss under Finance income (note 24). d) Bridge loans Bridge loans were secured from the Credit facility and the Term loan lenders on April 5, 2023 and May 1, 2023, respectively. Those loans, totalling $6,250,000, were fully re -imbursed e) Other loan On June 6, 2023, the Company negotiated a termination agreement in relation with a licence agreement for the worldwide exclusive use by the Company of an intellectual property owned by the licensor for the Company’s use in the development of its Components technology projects. Per the agreement, the related loan (other loan on the Consolidated statements of financial position) valued at $1,739,750 on that date was settled for US$100,000 ($134,189) and a net gain of $1,605,561 was recorded in the Consolidated statements of loss under Finance income as a result of this settlement (note 24). The net carrying amount of the license was completely written off as of December 31, 2022 for the amount of $1,424,196 (note 11). |
Government Grant Liabilities
Government Grant Liabilities | 12 Months Ended |
Sep. 30, 2023 | |
Government Grant Liabilities [Abstract] | |
Government grant liabilities | 15. As at the acquisition date of Vayavision, a government grant liability of $420,000 was recognized at its fair value and related to the repayment of the grant received by Vayavision from the Israeli Innovation Authority (“IIA”) prior to the acquisition to support the development of the technology. Prior to the acquisition, Vayavision obtained the grant for the total amount of NIS 4 million (CAD$1.5 million) from the IIA to be repaid through royalties of 3% of sales of Vayavision products developed through the funds provided by the IIA. The grant bears an annual interest rate based on SOFR as published by the Bank of Israel. After initial recognition, the liabilities are measured at amortized cost using the effective interest method. The effective interest rate is 30.3%. Assumptions underlying grant repayments are reviewed at least annually. As at September 30, 2023, the Company revised the estimated repayment schedule, taking into account updated assumptions and data. This resulted in an accretion loss of $74,335 (2022 — accretion gain of $78,567), which was included in Financial costs, net (note 24). As at September 30, 2023, the Company also has a government grant liability of $568,807 (US$420,715) related to the repayment of a grant received by Vayavision from Israel -United -interest As a result of a default event occurred during the first quarter of 2023, the Company reclassified, as of December 31, 2022, the Bird government grant liability as a short -term Government grant liabilities 2023 2022 2021 (Restated – (Restated – Balance, beginning of year 1,409,694 1,159,487 420,000 Grants received — 178,856 191,902 Accretion interest expense 323,250 384,985 157,202 Loss (gain) on remeasurement due to changes in forecasts (248,915 ) (463,552 ) 410,740 Foreign exchange loss (gain) (15,733 ) 149,918 (20,357 ) Balance, end of year 1,468,296 1,409,694 1,159,487 Current 568,807 — — Non-current 899,489 1,409,694 1,159,487 |
Capital Stock
Capital Stock | 12 Months Ended |
Sep. 30, 2023 | |
Capital Stock [Abstract] | |
Capital stock | 16. Authorized, unlimited number of shares, without par value, of the following classes: Common shares, voting and participating. Class A, preferred shares, voting, convertible at the holder’s option into a fixed or variable number of common shares depending on certain events, entitled to receive dividends when declared by the Company, retractable with priority over common shares upon a Liquidation event 1 Class B, preferred shares, voting, convertible at the holder’s option into a fixed or variable number of common shares depending on certain events, entitled to receive dividends when declared by the Company, retractable with priority over common shares, Class A and Class M shares upon a Liquidation event 1 Class C, preferred shares, voting, convertible at the holder’s option into a fixed or variable number of common shares depending on certain events, entitled to receive dividends when declared by the Company, retractable with priority over all other classes of shares, except Class D preferred shares, upon a Liquidation event 1 The holders of common shares are entitled to dividends, pari passu All Class A, B and C shares shall automatically be converted into common shares of the Company immediately prior to the closing of a Qualified IPO 2 Class D -1 -2 2 1 1 -1 Class M Series, non -voting -participating 1 1 Liquidation event -Converted -Converted -Converted -Converted -Converted 2 Qualified IPO United States Securities Act of 1933 -money “Class M Redemption value”), automatically convertible prior to the closing of an IPO or prior to the closing of a Special Purpose Acquisition Company (“SPAC”) transaction into common shares by dividing the applicable Class M Redemption value by the applicable exit price in connection with such IPO or SPAC transaction. Issued and paid As at September 30, 2023 2022 Number $ Number $ Common shares 167,610 9,894,326 167,610 9,894,326 Class A preferred shares 1,230,291 79,056,406 1,230,291 79,056,406 Class B preferred shares 1,296,922 82,626,031 1,296,922 82,626,031 Class C preferred shares 2,069,741 116,877,914 2,069,741 116,877,914 Class D-1 preferred shares 1,349,111 100,830,621 744,107 82,274,185 Class D-2 preferred shares 635,327 62,960,906 635,327 62,960,906 6,749,002 452,246,204 6,143,998 433,689,768 On November 1, 2021, the Company entered into a Share Subscription Agreement (the “Agreement”). Under the terms of the Agreement, the investors purchased 635,005 Class D -1 -term -settled On January 19, 2022, the Company issued 109,102 Class D -1 In June 2023, the Company issued 595,650 Class D -1 In July 2023, the Company issued 9,354 Class D -1 The following table summarizes common share activity during the year: Number $ Common shares as at September 30, 2021 124,793 7,664,466 Shares issued related to Vayavision acquisition 42,594 2,215,739 Shares issued related to option exercises (note 19) 223 14,121 Common shares as at September 30, 2022 167,610 9,894,326 Common shares as at September 30, 2023 167,610 9,894,326 |
Warrants
Warrants | 12 Months Ended |
Sep. 30, 2023 | |
Warrants [Abstract] | |
Warrants | 17. The following table summarizes warrants activity: Year ended Year ended Number weighted Number weighted Outstanding, beginning of year 13,890 138.68 13,890 138.68 Issued 605,004 30.66 — — Exercised (605,004 ) (30.66 ) — — Outstanding, end of year 13,890 138.68 13,890 138.68 Exercisable, end of year 13,890 138.68 13,890 138.68 As part of the Company refinancing, 605,004 warrants were issued and exercised, at a weighted average exercise price of $30.66, during the year ended September 30, 2023. Refer to note 14a for further details. The warrants outstanding and exercisable as at September 30, 2023 and 2022 are under the term loan agreement as described in Note 14c. Under the terms of the warrant, the lender has the right to acquire one Class C preferred share for an exercise price of $138.68 per warrant. The warrants are exercisable until March 31, 2026. As at September 30, 2023, none |
Other Component of Equity
Other Component of Equity | 12 Months Ended |
Sep. 30, 2023 | |
Other Component of Equity [Abstract] | |
Other component of equity | 18. a) In connection with the Company’s acquisition of a 60% controlling interest in Vayavision on July 6, 2020, the Company obtained call options and wrote a put option for the remaining 40% NCI. The Company has the right to purchase the NCI and the NCI holder has the right to sell its interest to the Company. The Company’s right under the call options is either: (1) exercisable in exchange of shares within 10 years following the transaction closing on July 6, 2020, and that right is exercisable in full or in part at any time after delivering a written notice to the NCI holder (referred to as the “Share Call Option” or (2) exercisable in exchange of cash subject to some conditions including service conditions until July 6, 2023 (referred to as the “Cash Call Option”) (collectively referred to as the “Call Options”). The NCI holder’s right under the put option is exercisable within seven years following the transaction closing, and that right is exercisable to exchange all, but not less than all of the NCI, only immediately prior to and subject to the consummation of (i) a Liquidity Event, as defined in Note 14; (ii) a Qualified IPO as defined in Note 14; or (iii) a Qualified Secondary Sale, defined as a secondary sale of common shares to one or more investors for cash following a primary financing transaction, which closes no later than June 30, 2021. If the Share Call Option or the put option is exercised, the NCI holder will sell to the Company the NCI shares; and in exchange, the Company will issue to the NCI holder that aggregate number of newly issued common shares of the Company, equal to such number obtained by the pre -established If the Cash Call Option is exercised, the NCI holder will sell to the Company the NCI shares; and in exchange, the Company will deliver cash based on a price per share of NIS of 0.01 ($0.026 CAD as at July 6, 2020). Out of the 1,021,462 common shares of Vayavision subject to the Share Call and Cash Call Options and put option, 750,000 common shares are accounted as share -based The put option held by the NCI is classified as a non -derivative IFRS 2 The Share Call Option and Cash Call Option are interdependent as they apply to the same shares held by the non -controlling nil nil b) On May 1 st |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Sep. 30, 2023 | |
Stock-Based Compensation [Abstract] | |
Stock-based compensation | 19. a) In July 2023 and in connection with the contemplated transaction discussed in note 14a, the Company decided to (i) accelerate the vesting period of all unvested outstanding ESOP options such that the outstanding ESOP options shall be fully vested and (ii) amend the period during which the outstanding ESOP options may be exercised (10 business days after modification notification was provided to the ESOP option holders). Following that date, all unexercised outstanding ESOP options shall immediately terminate and expire at that time. The amount to be recognised when a share -based As a result of this acceleration event, during the fourth quarter of 2023, the Company recognised a stock -based -based Before forfeiture, options granted under the ESOP expired after a maximum period of 10 years following the date of grant. Options granted under the ESOP generally vested over a four -year Changes in the number of stock options outstanding were as follows: Year ended Year ended Number $ Number $ Outstanding, beginning of year 1,268,360 58.64 1,057,913 47.97 Granted — — 366,420 102.50 Exercised — — (223 ) 41.35 Forfeited (200,421 ) 69.01 (155,750 ) 87.29 Cancelled (1,067,939 ) 56.69 — — Outstanding, end of year — — 1,268,360 58.64 Exercisable, end of year — — 759,740 35.41 Outstanding options as at Outstanding options as at Exercise price Number weighted Number weighted $ 2.75 — — 142,094 2.1 $ 5.50 — — 182,515 2.9 $ 32.27 — — — — $ 38.26 — — 11,827 8.2 $ 45.20 — — 406,779 6.4 $ 101.64 — — 56,050 8.2 $ 102.50 — — 454,295 9.0 $ 106.67 — — 4,800 8.7 $ 136.47 — — 10,000 8.6 — — 1,268,360 6.5 Exercisable options as at September 30, 2023 Exercisable options as at September 30, 2022 Exercise price Number weighted Number weighted $ 2.75 — — 142,094 2.1 $ 5.50 — — 182,515 2.9 $ 32.27 — — — 0.0 $ 38.26 — — 11,272 8.2 $ 45.20 — — 321,848 6.4 $ 101.64 — — 16,345 8.2 $ 102.50 — — 81,966 8.0 $ 106.67 — — 1,200 8.7 $ 136.47 — — 2,500 8.6 — — 759,740 5.0 During the year, the Company granted nil nil -Options nil -Options -Options -Options -Options -Options nil -Scholes 2023 2022 2021 Fair value of the underlying share N/A $ 72.88 $ 111.81 Exercise price N/A $ 102.50 $ 99.22 Risk-free interest rate N/A 2.20% 0.20% Expected volatility N/A 81% 45% Expected life N/A 2.41 years 3 years Dividend yield N/A 0% 0% b) In 2015, the Company implemented a MSOP under which the Company can issue options to buy Class M shares (the “M -Options -Options This MSOP expired as at September 30, 2017, and the Company adopted a new plan from October 1, 2017, to September 30, 2020 (“MSOP II”). The MSOP II has the same purpose and characteristics than the former MSOP and includes a new series of shares (“Class M Series 2017”) and is opened to employees and management. The former MSOP was only accessible to management. On September 30, 2020, the Company adopted a new plan from October 1, 2020, to September 30, 2021 (“MSOP III”). MSOP III has the same purpose and characteristics of the former MSOP plans except that C -Options -Options -Options MSOP Options vest differently whether they are time -based -Based -based -Based -Based -end -Based -Based -line -Based -end The vested M -Options -Options th For the M -Options -Options -Option -Options -Option -Options As additional consideration, for each MSOP Option, one stock option (the ESOP Option) is granted, and the ESOP Option vests concurrently with its corresponding M -Option -Option The expected life of the stock options is based on current expectations and the expected volatility reflects the assumption that the historical or implied volatility of similar listed entities over a period similar to the life of the options is indicative of future trends. These assumptions may not necessarily be the actual outcome. Changes in the number of M -Options -Options Year ended Number weighted M-Options Outstanding, beginning of year 223,692 0.001 Granted — — Forfeited — — Outstanding, end of year 223,692 0.001 Exercisable, end of year — — C-Options Outstanding, beginning of year 217,970 27.85 Granted — — Forfeited — — Outstanding, end of year 217,970 27.85 Exercisable, end of year — — Year ended Number weighted M-Options Outstanding, beginning of year 227,017 0.001 Granted — — Forfeited (3,325 ) 0.001 Outstanding, end of year 223,692 0.001 Exercisable, end of year — — C-Options Outstanding, beginning of year 221,295 28.87 Granted — — Forfeited (3,325 ) 95.54 Outstanding, end of year 217,970 27.85 Exercisable, end of year — — Year ended Number weighted M-Options Outstanding, beginning of year 197,757 0.001 Granted 29,755 0.001 Forfeited (495 ) 0.001 Outstanding, end of year 227,017 0.001 Exercisable, end of year — — C-Options Outstanding, beginning of year 192,035 17.50 Granted 29,755 102.50 Forfeited (495 ) 102.50 Outstanding, end of year 221,295 28.87 Exercisable, end of year — — The following table summarizes information relating to the M -Options -Options Outstanding options as at Outstanding options as at Outstanding options as at Exercise price Number weighted Number weighted Number weighted M-Options $0.001 223,692 2.90 223,692 3.90 227,017 4.81 C-Options $5.50 133,975 1.81 133,975 2.81 133,975 3.01 $45.20 57,161 4.10 57,161 5.10 57,565 6.01 $102.50 26,834 7.22 26,834 8.22 29,755 9.01 217,970 3.07 217,970 4.07 221,295 4.60 The fair value recognized for redeemable stock options in the consolidated statement of financial position as at September 30, 2023, 2022 and 2021 was $5.50 for options granted on Class M Series 2014 During the years ended September 30, 2023 and 2022, the Company did not grant M -Options -Options -Options -Options nil -Options nil -Options -Option -Scholes Year ended September 30, 2023 2022 2021 C-Options Weighted average fair value of the underlying share — — $ 106.26 Exercise price — — $ 102.50 Risk-free interest rate — — 0.20% Expected volatility — — 45% Expected life — — 3 years Dividend yield — — 0% The expected life of the stock options is based on current expectations and the expected volatility reflects the assumption that the historical or implied volatility of similar listed entities over a period similar to the life of the options is indicative of future trends. These assumptions may not necessarily be the actual outcome. The following table reconciles the redeemable stock options recorded in the consolidated statement of financial position: Years ended Number of stock options Weighted Total fair Class M series 2014 139,697 5.50 768,334 Class M series 2017 57,161 45.20 2,583,677 Class M series 2020 26,834 102.50 2,750,485 Total redeemable stock options 223,692 6,102,496 c) Call Option recorded as share-based compensation expenses As disclosed in Note 16, 750,000 common shares of Vayavision held by non -controlling -based The cumulative stock -based -controlling d) The total stock -based Year ended September 30, 2023 2022 2021 Stock-based compensation ESOP, equity-settled 2,474,955 3,223,540 6,139,661 C-Options, equity-settled — — 703,463 Vayavision call option, equity-settled 603,051 1,693,517 3,781,504 Reserve stock options movement 3,078,006 4,917,057 10,624,628 M-Options, cash-settled — (317,663 ) 3,027,513 Capitalized as development costs (641,032 ) (326,721 ) (1,458,523 ) Total stock-based compensation expenses 2,436,974 4,272,673 12,193,618 |
Operating Expenses
Operating Expenses | 12 Months Ended |
Sep. 30, 2023 | |
Operating Expenses [Abstract] | |
Operating expenses | 20. Operating expenses by nature include the following: As restated As restated Year ended September 30, 2023 2022 2021 Employee benefit expenses 23,250,847 30,802,594 17,290,669 Stock-based compensation 2,436,974 4,272,673 12,193,618 Research costs 624,866 2,074,830 2,732,403 Impairment loss related to intangible assets 5,791,439 38,207,503 — Marketing expenses 2,950,052 917,223 756,199 Selling expenses 143,394 299,382 615,763 Depreciation of property and equipment 1,059,769 1,291,048 989,963 Product line management expenses 38,293 47,965 45,640 Recruitment fees 369,482 791,788 522,434 Professional fees 6,795,731 3,852,140 3,252,743 Other expenses 2,331,738 1,176,515 1,082,619 Subcontractor services 1,632,311 2,006,904 1,757,828 Travel expenses 527,826 482,358 34,253 Amortization of intangible assets 286,494 257,064 463,784 Insurance 371,791 373,311 448,777 Research and development tax credits (225,609 ) (70,191 ) (237,364 ) Depreciation expense on right of use assets 533,394 560,870 349,833 Business acquisition costs 3,506,630 — — 52,425,422 87,343,977 42,299,162 |
Loss Per Share
Loss Per Share | 12 Months Ended |
Sep. 30, 2023 | |
Loss Per Share [Abstract] | |
Loss per share | 21. Basic loss per share is calculated by dividing the loss attributable to equity holders of the parent by the weighted average number of common shares outstanding. The following table reflects the calculation of net loss attributable to equity holders of the parent and the computation of basic and diluted loss per share for the periods indicated: As restated As restated Year ended September 30, 2023 2022 2021 Loss attributable to equity holders of the parent (47,992,097 ) (69,318,848 ) (46,959,038 ) Weighted average number of common shares basic and diluted 167,610 134,913 64,946 Basic and diluted loss per common share (286.33 ) (513.80 ) (723.05 ) The effect of dilution from outstanding stock options, convertible preferred stocks, credit facility, convertible loans, warrants, put and call options and contingent consideration payable were excluded from the calculation of the weighted average number of common shares for diluted loss per common share for the years ended September 30, 2023 and 2022 as they are antidilutive. Year ended September 30, 2023 2022 Outstanding employee stock option 441,662 1,710,022 Convertible preferred stock 6,581,392 5,976,388 Warrants 13,890 13,890 Put and call options recognized as other component of equity 94,931 94,931 Conversion options 2,200,053 — |
Additional Information Included
Additional Information Included in the Consolidated Statement of Cash Flows | 12 Months Ended |
Sep. 30, 2023 | |
Additional Information Included in the Consolidated Statement of Cash Flows [Abstract] | |
Additional information included in the consolidated statement of cash flows | 22. Changes in non -cash As restated As restated As at September 30, 2023 2022 2021 Trade receivable and other receivables 96,806 (2,219,607 ) (896,440 ) Government assistance and R&D tax credits receivable (205,042 ) 553,097 1,517,744 Inventories (609,663 ) (541,093 ) 272,309 Prepaid expenses (273,497 ) 95,795 (178,516 ) Accounts payable and accrued liabilities 2,534,308 1,720,000 2,784,731 Provisions 878,144 — — 2,421,056 (391,808 ) 3,499,828 |
Government Grants
Government Grants | 12 Months Ended |
Sep. 30, 2023 | |
Government Grants [Abstract] | |
Government grants | 23. Year ended September 30, 2023 Grant Grant recorded Total Other grants 377,080 268,460 645,540 Total grants 377,080 268,460 645,540 R&D tax credit 225,609 256,234 481,843 Total grants and R&D tax credits 602,689 524,694 1,127,383 Year ended September 30, 2022 Grant Grant recorded Total (Restated – (Restated – (Restated – Canada Emergency Wage Subsidy 83,735 33,684 117,419 Other grants 351,713 917,104 1,268,817 Total grants 435,448 950,788 1,386,236 R&D tax credit 70,191 776,050 846,241 Total grants and R&D tax credits 505,639 1,726,838 2,232,477 Year ended September 30, 2021 Grant recognized in statement of loss Grant recorded against carrying amount of property and equipment and intangible assets (notes 9, 11) Total (Restated – (Restated – (Restated – Canada Emergency Wage Subsidy 876,434 391,886 1,268,320 Interest free loan 1,192,741 1,109,904 2,302,645 Other grants 95,619 485,037 580,656 Total grants 2,164,794 1,986,827 4,151,621 R&D tax credit 237,364 995,506 1,232,870 Total grants and R&D tax credits 2,402,158 2,982,333 5,384,491 The amounts recorded in reduction of property and equipment and intangible assets were nil nil Within Canada, the Company participated in the Canada Emergency Wage Subsidy (“CEWS”), a grant measure of the Canadian government as a response to the COVID -19 -over-year -by-month Within Canada, the Company participated in the Industrial Research Assistance Program (“IRAP”) with the National Research Council of Canada. IRAP provides fundings for eligible projects to companies, to increase their innovation capacity and take ideas to market. Within Israel, the Company participated in the Israeli National Authority for Technological Innovation (“IIA”). IIA provides fundings for eligible projects to companies, to effectively address the dynamic and changing needs of the local and international innovation ecosystems. There are no unfulfilled conditions or contingencies attached to the above grants. |
Finance Costs, Net
Finance Costs, Net | 12 Months Ended |
Sep. 30, 2023 | |
Finance Costs, Net [Abstract] | |
Finance costs, net | 24. As restated As restated Year ended September 30, 2023 2022 2021 Finance income Interest income (223,594 ) (40,251 ) (3,454 ) Gain on debt modification (note 14c) (4,332,173 ) — — Gain on debt settlement (note 14e) (1,605,561 ) — — Premium and discount amortization — — — (6,161,328 ) (40,251 ) (3,454 ) Finance costs Interest expense on term loan (note 14c) 2,016,587 1,830,360 1,225,861 Interest expense on lease liabilities (note 10) 401,229 551,291 303,390 Interest expense on credit facility (note 14b) 4,843,390 3,630,814 974,903 Interest expense on convertible notes (note 14a) 1,067,932 — — Interest expense on bridge loans (note 14d) 138,347 — — Interest expense on other loan (note 14e) 160,413 274,263 319,258 Issuance and modification costs of convertible loans — 124,717 124,022 Transaction costs related to company refinancing 350,000 — — Net loss on debt extinguishments — 454,092 458,593 Accretion and remeasurement of government grant liability (note 15) 74,335 (78,567 ) 567,942 Bank charges 64,166 91,840 81,261 9,116,399 6,878,810 4,055,230 As restated As restated Year ended September 30, 2023 2022 2021 Loss (gain) on revaluation of instruments carried at fair value Conversion option 21,100 — — Convertible loans — (6,089,300 ) 17,813,766 Credit facility — 225,105 1,700,923 Derivative warrant liability — — 66,613 Contingent consideration payable — (1,265,043 ) (5,700,260 ) 21,100 (7,129,238 ) 13,881,042 Capitalized borrowing costs (note 11) (3,898,829 ) (6,994,197 ) (6,304,340 ) Foreign exchange loss (gain) 224,057 (2,749,505 ) 67,083 Finance costs, net (698,601 ) (10,034,381 ) 11,695,561 |
Income Taxes
Income Taxes | 12 Months Ended |
Sep. 30, 2023 | |
Income Taxes [Abstract] | |
Income taxes | 25. The reconciliation of the income tax provision (recovery) calculated using the combined Canadian federal and provincial statutory income tax rate with the income tax provision (recovery) in the consolidated financial statements is as follows: As restated As restated Year ended September 30, 2023 2022 2021 Loss before income taxes (51,424,409 ) (73,418,745 ) (48,856,993 ) Income taxes at the Canadian statutory tax rate of 26.50% (26.50% in 2022 and 26,50% in 2021) (13,760,987 ) (19,455,967 ) (12,947,103 ) Tax effect from: Effect of differences in tax rates in other jurisdictions 903,064 659,121 497,913 Non-deductible items 574,922 8,131,886 1,980,532 Tax losses and deductible temporary differences for which no deferred income tax assets is recognized 11,436,187 10,696,915 10,643,020 Adjustment in respect of prior years 846,814 (31,954 ) (172,895 ) Other — — (1,467 ) Income tax expense (recovery) — — — Deferred income tax assets and liabilities on temporary differences and unused tax losses are as follows: Balance as at October 1, Credited Credited Balance as at Financing fees 1,970,593 154,336 — 2,124,929 Provision and accruals 519,550 (453 ) — 519,097 Research and development cost 4,700,695 660,343 — 5,361,039 Losses carried forward 43,648,546 12,030,648 — 55,679,194 Convertible loan — 12,175 — 12,175 Lease liabilities 1,520,988 (596,044 ) — 924,944 Government grant liability 140,547 11,527 — 152,074 Deferred income grants 120,573 — — 120,573 Other debt discount 420,004 (420,004 ) — — Total deferred tax assets 53,041,496 11,852,529 — 64,894,025 Property and equipment (326,154 ) 273,159 — (52,996 ) Intangible assets (5,036,692 ) 828,977 — (4,207,715 ) Right-of-use assets (1,347,385 ) 602,045 — (745,340 ) Debt discount-Grant/warrants (2,309,719 ) (686,102 ) — (2,995,821 ) Grant receivable (38,156 ) 14,967 — (23,189 ) Conversion option liability — 5,592 — 5,592 Total deferred tax liabilities (9,058,106 ) 1,038,637 — (8,019,469 ) Net deferred tax assets (liabilities) 43,983,390 12,891,166 — 56,874,556 Unrecognized net deferred tax assets (43,983,390 ) (12,891,166 ) — (56,874,556 ) Recognized net deferred tax (liabilities) — — — — Balance as at Credited Credited Balance as at Financing fees 358,581 (154,408 ) 1,766,420 1,970,593 Provision and accruals 381,341 138,209 — 519,550 Research and development cost 5,361,422 (660,727 ) — 4,700,695 Losses carried forward 31,951,781 11,696,765 — 43,648,546 Convertible loan 7,152,109 (7,152,109 ) — — Lease liabilities 1,128,610 392,378 — 1,520,988 Government grant liability 96,044 44,503 — 140,547 Deferred income grants 120,573 — — 120,573 Other debt discount 514,938 (94,934 ) — 420,004 Total deferred tax assets 47,065,399 4,209,677 1,766,420 53,041,496 Property and equipment (251,862 ) (74,292 ) — (326,154 ) Intangible assets (11,535,305 ) 6,498,613 — (5,036,692 ) Right-of-use assets (1,041,824 ) (305,561 ) — (1,347,385 ) Debt discount-Grant/warrants (2,716,353 ) 406,634 — (2,309,719 ) Grant receivable — (38,156 ) — (38,156 ) Total deferred tax liabilities (15,545,344 ) 6,487,238 — (9,058,106 ) Net deferred tax assets (liabilities) 31,520,055 10,696,915 1,766,420 43,983,390 Unrecognized net deferred tax assets (31,520,055 ) (10,696,915 ) (1,766,420 ) (43,983,390 ) Recognized net deferred tax (liabilities) — — — — Balance as at Credited Balance as at Financing fees 396,398 (37,817 ) 358,581 Provision and accruals 56,011 325,330 381,341 Research and development cost 3,165,108 2,196,314 5,361,422 Losses carried forward 22,783,934 9,167,847 31,951,781 Convertible loan 1,950,507 5,201,602 7,152,109 Lease liabilities 1,224,274 (95,664 ) 1,128,610 Government grant liability 48,926 47,118 96,044 Deferred income grants 9,950 110,623 120,573 Other debt discount 501,215 13,723 514,938 Total deferred tax assets 30,136,323 16,929,076 47,065,399 Property and equipment (110,294 ) (141,568 ) (251,862 ) Intangible assets (5,573,931 ) (5,961,374 ) (11,535,305 ) Right-of-use assets (1,167,707 ) 125,883 (1,041,824 ) Debt discount-Grant/warrants (1,552,468 ) (1,163,885 ) (2,716,353 ) Grant receivable (854,888 ) 854,888 — Total deferred tax liabilities (9,259,288 ) (6,286,056 ) (15,545,344 ) Net deferred tax assets (liabilities) 20,877,035 10,643,020 31,520,055 Unrecognized net deferred tax assets (20,877,035 ) (10,643,020 ) (31,520,055 ) Recognized net deferred tax (liabilities) — — — As at September 30, 2023, the year of expiry of operating losses in the consolidated statement of financial position are as follows, presented by tax jurisdiction: Canada Year of expiry Federal Quebec USA Israel 2026 18,516 — — — 2027 175,149 160,253 — — 2028 896,504 872,674 — — 2029 2,101,838 2,077,374 — — 2030 1,365,399 1,311,824 — — 2031 2,303,130 2,280,459 — — 2032 1,375,780 1,306,718 — — 2033 3,482,936 3,482,936 — — 2034 3,266,503 3,275,941 — — 2035 3,408,474 3,444,648 — — 2036 885,475 885,963 — — 2037 — — — — 2038 15,542,450 15,638,499 — — 2039 22,974,686 22,727,051 — — 2040 28,727,803 28,444,120 — — 2041 33,860,655 33,548,568 — — 2042 29,975,342 29,600,226 — — 2043 39,538,267 39,718,809 — — Indefinite — — 657,789 33,393,753 189,898,907 188,776,063 657,789 33,393,753 As at September 30, 2023, deferred income tax assets of $4,644,561 (2022 - $4,839,145) are recognized in the consolidated statement of financial position in respect of these operating losses. As at September 30, 2023, the R&D tax credits accumulated, for which no tax credits receivable were recognized, that will be deductible against income taxes payable in the consolidated statement of financial position as well as their respective year of expiry, are as follows: Years of investment tax credits Federal Year of 2008 1,232 2025 2009 1,562 2026 2009 1,257 2027 2010 18,655 2028 2011 9,843 2029 2012 7,069 2030 2016 9,718 2034 2017 — 2032 2017 51,182 2036 2017 25,029 2037 2018 480,243 2038 2019 1,134,507 2039 2020 1,389,834 2040 2021 1,243,043 2041 2022 1,359,218 2042 2023 449,056 2043 6,181,448 In addition, the difference between the carrying value and tax basis of research and development costs amounts to $19,196,143 at the federal level and $21,579,272 at the provincial level. These costs can be carried forward indefinitely against future years’ taxable income in their respective tax jurisdiction. No deferred income tax assets have been accounted for in connection with these benefits. Upon recovery of the carrying amount of the investment in a subsidiary, the income taxes that would be payable were not recognized for tax purposes as the Company determined that it is not probable that the taxable temporary difference will reverse in a foreseeable future. As at September 30, 2023, the taxable temporary difference for which a deferred income tax liability was not recognized amounts to $2,334,066 ($2,334,066 in 2022). |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Sep. 30, 2023 | |
Related Party Transactions [Abstract] | |
Related party transactions | 26. Compensation of key management personnel The Company’s directors and members of the executive committee are the Company’s key management personnel. Compensation awarded to key management include the following: Year ended September 30, 2023 2022 2021 Salaries and short-term employee benefits 1,883,078 2,050,590 1,181,382 Stock-based compensation 850,271 1,134,006 2,628,320 2,733,349 3,184,596 3,809,702 Transactions with related parties Year ended September 30, Entity with significant influence over the Company 2023 2022 2021 Consolidated statement of loss Revenue – Services and products — — 115,698 Purchases – Cost of sales — — 6,540 Loss (gain) on revaluation of convertible loans — (704,912 ) 2,062,165 On November 1, 2021, the Company concluded a non -cash |
Capital Management
Capital Management | 12 Months Ended |
Sep. 30, 2023 | |
Capital Management [Abstract] | |
Capital management | 27. The Company views capital as the sum of credit facility, term loan, convertible loans, redeemable stock options, other loan, government grant liabilities, contingent consideration payable and equity (deficiency) attributable to owners of the capital stock of the parent, net of cash. The Company’s objectives, when managing capital, are to safeguard the Company’s ability to continue as a going concern, in order to provide an adequate return to shareholders and maintain sufficient level of funds to finance its commercialization activities, research and development activities, general and administrative expenses, working capital and overall capital expenditures, including those associated with intangible assets. To maintain or adjust the capital structure, the Company may issue new shares, issue new debt or dispose assets, all of which are subject to market conditions and the terms of the underlying third -party No changes were made to the objectives, policies and processes for managing capital during the years ended September 30, 2023 and 2022. The total capital is calculated as follows: As restated As at September 30, 2023 2022 Credit facility (28,747,705 ) (30,000,000 ) Term loan (7,718,928 ) (10,034,513 ) Convertible notes (11,258,950 ) — Other loan — (1,582,780 ) Redeemable stock options (6,102,496 ) (6,102,496 ) Government grant liabilities (1,468,296 ) (1,409,694 ) Contingent consideration payable — — Less: cash 5,056,040 32,025,899 Net debt (50,240,335 ) (17,103,584 ) Equity (deficiency) attributable to owners of the capital stock of the parent 7,111,792 33,159,327 (43,632,367 ) 16,055,743 |
Financial Instruments
Financial Instruments | 12 Months Ended |
Sep. 30, 2023 | |
Financial Instruments [Abstract] | |
Financial instruments | 28. The classification of financial instruments as well as their carrying amounts are presented in the table below: September 30, 2023 Amortized FVTPL Total Financial assets Cash 5,056,040 — 5,056,040 Accounts receivable (1) 2,281,915 — 2,281,915 Current financial assets 7,337,955 — 7,337,955 Financial liabilities Accounts payable and accrued liabilities (2) 12,466,676 — 12,466,676 Credit facility 28,747,705 — 28,747,705 Term loan 7,718,928 — 7,718,928 Convertible notes 11,258,950 — 11,258,950 Conversion option — 737,974 737,974 Government grant liabilities 1,468,296 — 1,468,296 Total 61,660,555 737,974 62,398,529 Current 13,035,483 737,974 13,773,457 Non-current 48,625,072 — 48,625,072 September 30, 2022 Amortized FVTPL Total Financial assets Cash 32,025,899 — 32,025,899 Accounts receivable (1) 3,093,031 — 3,093,031 Call option — Nil — Current financial assets 35,118,930 — 35,118,930 Financial liabilities Accounts payable and accrued liabilities (2) 10,676,846 — 10,676,846 Credit facility 30,000,000 — 30,000,000 Term loan 10,034,513 — 10,034,513 Government grant liabilities (restated – note 2) 1,409,694 — 1,409,694 Other loan 1,582,780 — 1,582,780 Total (restated – note 2) 53,703,833 — 53,703,833 Current 41,019,521 — 41,019,521 Non-current 12,684,312 — 12,684,312 (1) (2) The following table provides the fair value measurement hierarchy of the Company’s long -term September 30, 2023 Quoted Significant Significant Total Assets measured at fair value Call option — — Nil — September 30, 2022 Quoted Significant Significant Total Assets measured at fair value Call option — — Nil — Financial risk management The Company is exposed to various types of risks due to the nature of the business activities it carries on, including those related to the use of financial instruments. The Company does not use financial derivatives to manage those risks. Liquidity risk Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due or can only do so at excessive cost. The Company manages this risk by maintaining detailed cash forecasts and long -term The following table summarizes the maturity profile of the Company’s financial liabilities based on contractual undiscounted payments: September 30, 2023 Less than 1 to 5 years More than Total Accounts payable and accrued liabilities 12,466,676 — — 12,466,676 Redeemable stock options — 6,102,496 — 6,102,496 Credit facility 4,766,345 38,568,461 — 43,334,806 Convertible loan — 39,610,854 — 39,610,854 Term loan — 21,317,876 13,412,208 34,730,084 Government grant liabilities 568,807 1,209,857 — 1,778,664 Total 17,801,828 106,809,544 13,412,208 138,023,580 September 30, 2022 Less than 1 to 5 years More than Total Accounts payable and accrued liabilities 10,676,846 — — 10,676,846 Redeemable stock options — 6,102,496 — 6,102,496 Credit facility 32,528,750 — — 32,528,750 Term loan — 9,631,293 9,631,293 19,262,586 Government grant liabilities (restated – note 2) — 1,409,694 — 1,409,694 Other loan 342,675 1,370,700 1,370,700 3,084,075 Total (restated – note 2) 43,548,271 18,514,183 11,001,993 73,064,447 Credit risk Credit risk is the risk of a financial loss resulting from the counterparty’s inability or refusal to fully meet its contractual obligations. The Company’s maximum exposure to credit risk is equal to the amounts recorded as cash and trade accounts receivable. Cash is maintained with high -credit -performance As at September 30, 2023, the balance receivable from one client represents 69% of trade accounts receivable (two clients represented 64% as at September 30, 2022). An impairment analysis is performed at each reporting date on individual basis for major items. Generally, the Company does not require collateral or other security from customers for trade accounts receivable; credit is extended following an evaluation of creditworthiness. To manage credit risk, the Company insures 39% as at September 30, 2023 (51% in 2022), of its accounts receivable through Exportation and Development Canada. Interest rate risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company’s exposure to the risk of changes in market interest rates relates primarily to the Company’s long -term -to-be-drawn Interest rate sensitivity The following table demonstrates the sensitivity to a reasonably possible change in interest rates on that portion of loans and borrowings affected. With all other variables held constant, the Company’s net loss is affected through the impact on floating rate borrowings, as follows: Increase/ decrease in Effect on Credit facility, convertible notes and term loan +200 1,580,146 -200 (1,580,146 ) Government grant liability +200 31,713 -200 (30,148 ) The assumed movement in basis points for the interest rate sensitivity analysis is based on the currently observable market environment, showing a significantly higher volatility than in prior years. Foreign exchange risk Since the Company operates internationally, it is exposed to foreign exchange risk as a result of potential exchange rate fluctuations related to non -intragroup If these variations were to occur, the impact of +5% appreciation of the USD, EUR and NIS currencies on the Company’s consolidated net loss and deficit for financial instruments held would be an increase (decrease) of net loss and deficit as follows: Change Year ended September 30, 2023 2022 USD +5 % 592,954 (828,626 ) EUR (10,296 ) (6,033 ) NIS (As restated) 171,980 167,434 A 5% weakening of the exchange rate would have had an equal but opposite effect on the amount shown above, assuming that all other variables remain constant. |
Commitments
Commitments | 12 Months Ended |
Sep. 30, 2023 | |
Commitments [Abstract] | |
Commitments | 29. Other than commitments already disclosed in notes 10 for leases and notes 14 for long -term -term As at September 30, 2023, minimum commitments remaining under these agreements over the following years are as follows: Total 2024 2025 2026 License 127,412 122,422 4,990 — Telecommunications 114,259 100,949 13,310 — 241,671 223,371 18,300 — |
Comparative Figures
Comparative Figures | 12 Months Ended |
Sep. 30, 2023 | |
Comparative Figures [Abstract] | |
Comparative figures | 30. In the consolidated statement of loss and comprehensive loss and in the consolidated statement of cash flows, some comparative figures for the years ended September 30, 2022 and 2021 have been restated to conform to the presentation adopted for the year ended September 30, 2023. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Sep. 30, 2023 | |
Subsequent Events [Abstract] | |
Subsequent events | 31. a) A series of amendments were made to the Credit Facility on October 13, 2023 October 20, 2023, October 31, 2023 and December 8, 2023. These amendments modify the existing terms in order to (i) extend the latest date on which the Tranche B of the SPAC Offering must be funded to December 22, 2023, (ii) extend the date on which the payment of interest for the months of October and November 2023 may be made and (iii) reduce the Available Cash requirement for the period from the date of the disbursement of the Tranche A of the SPAC Offering until October 31, 2023 from $2,500,000 to $1,500,000, to $0 until the DE -SPAC -SPAC b) On October 31, 2023, the Company entered into a lease modification for its Québec city location, in order to reduce the rented square footage. As per the amendment, during the first quarter of 2024, a gain on lease modification of $159,263 will be recorded, and in 2024, total penalties of $259,229 will be paid to the lessor. c) As of November 1, 2023, the Company exercised its call option to acquire its remaining participation in Vayavision. Per the original Share Purchase Agreement conditions, the purchase of the Vayavision of Common shares was paid in exchange of Common Shares of the Company, based on a determined ratio and already detailed in the SPA. This transaction resulted in an increase in the Company’s interest in Vayavision from 60.0% to 100.0% and was accounted for as an equity transaction. The purchase price of $57,724 was equity -settled -controlling d) As previously disclosed, on June 12, 2023, the Company entered into a Business Combination Agreement, as amended on September 25, 2023 (the “BCA”), with LeddarTech Holdings Corp., a newly incorporated subsidiary of the Company (“Newco”) and Prospector Capital Corp., a Cayman Islands exempted company (“Prospector”). Prospector is a “blank check” company established for the purpose of effecting an acquisition of one or more businesses. On June 12, 2023, concurrently with the execution of the BCA, LeddarTech entered into a subscription agreement (the “Subscription Agreement”) with certain investors, including investors who subsequently joined the Subscription Agreement (the “PIPE Investors”), pursuant to which the PIPE Investors agreed to purchase secured convertible notes of LeddarTech (the “PIPE Convertible Notes”) in an aggregate principal amount of US$44.0 million (the “PIPE Financing”). The Tranche A subscription was completed in June 2023 and July 2023 (note 14a)). Tranche B -1 -2 PIPE Investors in certain tranches of the PIPE Convertible Notes received at the time of issuance of such notes warrants to acquire Class D -1 -1 -1 Accordingly, the PIPE Investors held approximately 42.8% of the 20 million LeddarTech common shares outstanding immediately prior to the Closing. The PIPE Convertible Notes are convertible into the number of Common Shares determined by dividing the then -outstanding On December 21, 2023 (the “Closing Date”), as contemplated in the BCA, the Company, Prospector, and Newco completed a series of transactions: • • • • • The Continuance, the Prospector Amalgamation, the Share Exchange, the Company Amalgamation and the other transactions contemplated by the BCA are hereinafter referred to as the “Business Combination”. Prior to the Closing Date, holders of an aggregate of 855,440 Prospector Class A ordinary shares, par value $0.0001 per share (the “Prospector Class A Shares”) representing approximately 39% of the total Prospector Class A Shares then outstanding, exercised their right to redeem those shares for approximately US$10.93 per share, or a total of approximately $9.3 million paid from Prospector’s trust account (the “SPAC Redemption”) in accordance with the terms of Prospector’s amended and restated memorandum and articles of association, as amended. Following the SPAC Redemption, and as part of a series of related steps in connection with the consummation of the Business Combination, Prospector distributed 1,338,616 Prospector Class A Shares to the holders on the Closing Date of the 1,338,616 Prospector Class A Shares that were not redeemed in connection with the Business Combination. Such distribution was not made with respect to any other Prospector or LeddarTech shares issued and outstanding prior to or upon consummation of the Business Combination. On the Closing Date, the following securities issuances were made by the Surviving Company to Prospector’s securityholders: (i) each outstanding Prospector Class A Share was exchanged for one Surviving Company Common Share, (ii) each outstanding non -voting -voting On the Closing Date immediately prior to the consummation of the Business Combination, LeddarTech’s shareholders, including investors in the PIPE Financing, received Company Common Shares pursuant to the BCA representing approximately 69.5% of the Company Common Shares outstanding immediately following consummation of the Business Combination. Upon closing of the series of transactions contemplated, the Business Combination will be accounted for as a reverse asset acquisition with the Company as the “acquiror” since Prospector does not meet the definition of a business in accordance with IFRS On closing, the Company will account for the fair value of the common shares issued to Prospector shareholders at the market price of Prospector’s publicly traded common shares on December 21, 2023. The fair value of the Class A non -voting -year -voting The following table reconciles the fair value of elements of the Transactions: Fair value of consideration transferred 8,770,982 common shares 55,257,187 2,031,250 Class A non-voting special shares 10,115,625 65,372,812 Fair value of assets acquired and liabilities assumed Cash 19,477,645 Accounts payable and accrued liabilities (11,497,830 ) Warrant liability (1) (1,746,575 ) 6,233,240 Listing expense 59,139,572 (1) On December 22, 2023, the Common Shares and Warrants became listed on The Nasdaq Global Market (“Nasdaq”) under the symbols “LDTC” and “LDTCW”, respectively. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
Statement of compliance | Statement of compliance These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) issued by the International Accounting Standards Board (“IASB”) . |
Basis of presentation | Basis of presentation The consolidated financial statements are prepared on a historical cost basis, except for some financial instruments and share -based |
Adjustments to comparative figures — correction of errors | Adjustments to comparative figures — correction of errors For the year ended September 30, 2022 and 2021, the Company identified material misstatements in measurement and recognition of certain items to the consolidated financial statements related to the following subjects. • Grant liability: -United -controlling • Development costs: • Other: Accordingly, the consolidated financial statements for the years ended September 30, 2022 and 2021 were restated to reflect adjustments made as a result of these corrections of errors, as disclosed as follow: As at September 30, 2022 Adjustments Consolidated statements of financial position As previously reported Government grant liability Development costs Others Total As restated Assets Government assistance and research and development tax credits receivable 2,845,728 (287,058 ) — — (287,058 ) 2,558,670 Intangible assets, net 34,798,844 (137,173 ) 99,518 — (37,655 ) 34,761,189 Goodwill 7,416,126 — — (98,000 ) (98,000 ) 7,318,126 Liabilities Accounts payable and accrued liabilities 10,652,362 — — 336,000 336,000 10,988,362 Government grant liabilities 979,105 430,589 — — 430,589 1,409,694 Shareholders’ equity (deficiency) Deficit (431,492,229 ) (514,887 ) 99,518 (434,000 ) (849,369 ) (432,341,598 ) Non-controlling interests (5,561,151 ) (339,933 ) — — (339,933 ) (5,901,084 ) Consolidated statements of loss for the year ended September 30, 2022 Adjustments As previously reported Government grant liability Development costs Others Total As restated Cost of sales 5,241,718 — — 69,000 69,000 5,310,718 General and administrative expenses 15,358,226 — — 190,067 190,067 15,548,293 Research and development 21,673,205 403,656 32,050 (51,000 ) 384,706 22,057,911 Finance costs, net (1) (9,945,296 ) 50,915 (140,000 ) — (89,085 ) (10,034,381 ) Net loss and comprehensive (72,864,057 ) (454,571 ) 107,950 (208,067 ) (554,688 ) (73,418,745 ) Net loss attributable to the equity holder of the parent (68,943,994 ) (274,737 ) 107,950 (208,067 ) (374,854 ) (69,318,848 ) Net loss attributable to non-controlling interests (3,920,063 ) (179,834 ) — — (179,834 ) (4,099,897 ) Net loss per common share, basic and diluted, attributable to the equity holder of the parent (511.03 ) — — — (2.78 ) (513.80 ) (1) Consolidated statements of loss for the year ended September 30, 2021 As previously reported Adjustments Government grant liability Development costs Others Total As restated Cost of sales 5,261,390 — — (3,000 ) (3,000 ) 5,258,390 General and administrative expenses 11,700,922 — 95,000 145,933 240,933 11,941,855 Research and development 10,206,764 397,607 571,367 51,000 1,019,974 11,226,737 Finance costs, net (2) 11,694,852 2,643 112,066 (114,000 ) 709 11,695,561 Net loss and comprehensive (47,598,378 ) (400,249 ) (778,433 ) (79,933 ) (1,258,615 ) (48,856,993 ) Net loss attributable to the equity holder of the parent (45,860,522 ) (240,150 ) (778,433 ) (79,933 ) (1,098,516 ) (46,959,038 ) Net loss attributable to non-controlling interests (1,737,856 ) (160,099 ) — — (160,099 ) (1,897,955 ) Net loss per common share, basic and diluted, attributable to the equity holder of the parent (706.13 ) — — — (16.91 ) (723.05 ) (2) Consolidated statements of cash flows for the year ended September 30, 2022 As previously reported Adjustments As restated Operating activities Loss before income taxes (72,864,057 ) (554,688 ) (73,418,745 ) Amortization of intangible assets 308,064 (51,000 ) 257,064 Finance costs, net (7,236,716 ) (140,000 ) (7,376,716 ) Other costs 145,933 (145,933 ) — Foreign exchange gain (1,807,450 ) 50,915 (1,756,535 ) Net change in non-cash working capital items (1,016,971 ) 625,163 (391,808 ) Net cash flows related to operating activities (37,911,354 ) (215,543 ) (38,126,897 ) Investing Activities Grants received related to intangible assets and property and equipment 949,609 36,686 986,295 Net cash flows related to investing activities (12,037,428 ) 36,686 (12,000,742 ) Financing activities Government grant liability issuance — 178,857 178,857 Net cash flows related to financing activities 73,768,733 178,857 73,947,590 Consolidated statement of cash flows for the year ended September 30, 2021 As previously reported Adjustments As restated Operating activities Net loss (47,598,378 ) (1,258,615 ) (48,856,993 ) Amortization of intangible assets 412,784 51,000 463,784 Finance costs, net 11,549,151 (1,934 ) 11,547,217 Other costs — 145,933 145,933 Foreign exchange gain (101,939 ) 2,643 (99,296 ) Net change in non-cash working capital items 2,755,712 744,116 3,499,828 Net cash flows related to operating activities (20,472,490 ) (316,857 ) (20,789,347 ) Investing Activities Grants received related to intangible assets and property and equipment 515,588 125,445 641,033 Net cash flows related to investing activities (16,631,435 ) 125,445 (16,505,990 ) Financing activities Government grant liability issuance — 191,412 191,412 Net cash flows related to financing activities 41,547,256 191,412 41,738,668 |
Basis of consolidation | Basis of consolidation These consolidated financial statements include the accounts of the Company and those of its subsidiaries. The Company’s subsidiaries are as follows: Name of subsidiary Place of incorporation and operation Proportion of ownership interest held by the Company 2023 2022 LeddarTech USA Inc U.S. 100 % 100 % LeddarTech (Shenzhen) Sensing Technology Co., Ltd China 100 % 100 % Vayavision Sensing, Ltd. (“Vayavision”) Israel 60 % 60 % LeddarTech Germany GmbH Germany 100 % 100 % LeddarTech Holdings Inc. Canada 100 % N.A. The Company consolidates investees when, based on the evaluation of the substance of the relationship with the Company, it concludes that it controls the investees. The Company controls an investee when it is exposed, or has rights, to variable returns from its involvement with the investee, has power over the investee (i.e., existing rights that give it the current ability to direct the relevant activities of the investee), and has the ability to affect those returns through its power over the investee. When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies in line with the Company’s accounting policies. All intercompany balances and transactions are eliminated upon consolidation. When a subsidiary is not wholly owned, the Company recognizes the non -controlling |
Foreign currency translation | Foreign currency translation a) Functional and presentation currency These consolidated financial statements are presented in Canadian dollars, which is also the Company’s functional currency. The Company determines the functional currency of each foreign operation and items included in the financial statements of each foreign operation are measured using that functional currency. The Canadian dollar is the functional currency of all foreign operations. b) Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the transaction date. Foreign exchange gains and losses resulting from the settlement of foreign currency transactions and from the translation at the year -end |
Financial instruments | Financial instruments a) Recognition and derecognition Financial instruments are recognized in the consolidated statement of financial position when the Company becomes a party to the contractual obligations of the instrument. On initial recognition, financial instruments are recognized at their fair value, and in the case of financial liabilities not at fair value through profit or loss (“FVTPL”), net of transaction costs that are directly attributable to the issue of such financial liabilities. Financial assets are subsequently derecognized when payment is received in cash or other financial assets or if the debtor is discharged of its liability. A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. When the terms of the liability are substantially modified, such modification is treated as a debt extinguishment and results in the derecognition of the original liability and the recognition of a new liability at fair value. The difference in the respective carrying amounts is recognized in the consolidated statement of loss. If an exchange of debt instruments or modification of terms is accounted for as an extinguishment, any costs or fees incurred are recognised as part of the gain or loss on the extinguishment. If the exchange or modification is not accounted for as an extinguishment, any costs or fees incurred adjust the carrying amount of the liability and are amortised over the remaining term of the modified liability. b) Classification Subsequent to initial recognition, financial instruments are measured according to the category to which they are classified. Financial instruments are classified and measured at amortized cost, or classified at FVTPL or designated at FVTPL, in which case they are subsequently measured at fair value. The classification of financial assets and liabilities is driven by the Company’s business model for managing the assets or liabilities and their contractual cash flow characteristics. Financial assets that are held to collect contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortized cost. Financial liabilities are measured at amortized cost, unless the Company has opted to measure them at FVTPL. The Company classifies cash and trade receivable and other receivables (excluding commodity taxes receivable) as financial assets measured at amortized cost and accounts payable and accrued liabilities (excluding deferred revenue), term loan, credit facility, convertible notes, other loan and the government grant liabilities as financial liabilities measured at amortized cost. The call options (note 18a) held by the Company are classified as a derivative financial asset measured at FVTPL. The put option (note 18a) is classified as a non -derivative c) Impairment of financial instruments The expected credit losses associated with debt instruments carried at amortized cost is assessed on a forward -looking |
Inventories | Inventories Raw materials and finished goods are recorded at the lower of cost and net realizable value. Cost is determined using the first -in -out 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. If a decline in the price of raw materials indicates that the cost of the finished goods exceeds net realizable value, the raw materials are written down to the replacement cost of the materials, which is the best available measure of the net realizable value. When circumstances that previously caused inventories to be written down below cost no longer exist or when there is a clear evidence of an increase in selling prices, the amount of the previously recorded write -down |
Property and equipment | Property and equipment Property and equipment are initially recorded at cost and subsequently measured at cost, less accumulated depreciation and impairment. Depreciation is calculated using the straight -line Computer equipment 3 years Office furniture and equipment 5 years R&D equipment and tools 5 years Stands and moulds 4 and 10 years Leasehold improvements Term of lease Vehicles 5 years Estimated useful life and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimates being accounted for on a prospective basis. The depreciation of property and equipment is recognized in the consolidated statement of loss in the expense category that is consistent with the function of the property and equipment or capitalized as development costs. |
Leases | Leases The Company assesses at contract inception whether a contract is, or contains, a lease; that is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Company applies a single recognition and measurement approach for all leases, except for short -term -value -of-use -of-use -of-use -of-use -line Office premises 3 to 15 years Other equipment 3 to 5 years The depreciation of right -of-use -of-use At the commencement date of the lease, the Company recognizes lease liabilities measured at the present value of lease payments to be made over the lease term, which includes the net present value of fixed payments and the value of any options to extend a lease where the Company is reasonably certain to do so. In calculating the present value of lease payments, the Company uses the interest rate implicit in the lease or, if that rate cannot be readily determined, the Company’s incremental borrowing rate. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. Lease payments on short -term -value -line |
Business combinations and goodwill | Business combinations and goodwill Business combinations are accounted for using the acquisition method. Acquisition -related The Company determines that it has acquired a business when the acquired set of activities and assets include at least an input and a substantive process that together significantly contribute to the ability to create outputs. The acquired process is considered substantive if it is critical to the ability to continue producing outputs, and the inputs acquired include an organized workforce with the necessary skills, knowledge, or experience to perform that process or it significantly contributes to the ability to continue producing outputs and is considered unique or scarce or cannot be replaced without significant cost, effort, or delay in the ability to continue producing outputs. When the Company acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as at the acquisition date. This includes the separation of embedded derivatives in host contracts by the acquiree. Goodwill is initially measured at cost (being the excess of the aggregate of the consideration transferred and the amount recognized for non -controlling |
Intangible assets | Intangible assets Intangible assets consist of patents, licenses, software, others and development costs with finite useful lives. Intangible assets are initially recorded at cost and subsequently measured at cost, less accumulated amortization and impairment. In regard to patents, costs are capitalized during the application period and are being amortized from the grant date over the residual life of the patent, which does not exceed 20 years from the application date. Amortization is calculated using the straight -line Patents Life of the patent Licenses 10 and 18 years Software 3 years Others 10 years Development costs Period of expected future sales from the related project (1) (1) Estimated useful life and the amortization method are reviewed at the end of each reporting period, with the effect of any changes in estimates being accounted for on a prospective basis. The amortization expense on intangible assets with finite useful lives is recognized in the consolidated statement of loss in the expense category that is consistent with the function of the intangible assets or capitalized as development costs. Borrowing costs directly attributable to the acquisition, construction or production of an asset that take a substantial period of time to get ready for its intended use or sale are capitalized as part of the cost of the asset. Developments costs related to the Company’s projects to develop and enhance the technology and capabilities of autonomous driving applications and advanced driver assistance systems (“ADAS”) are considered to be qualified assets eligible for borrowing costs capitalization. Borrowing costs consist of interest expense calculated using the effective interest method (this includes the effective interest on term loans and other debts including an implicit interest on convertible loans and credit facilities at FVTPL), interest on lease liabilities and other issuance costs that are incurred in connection with the borrowing of funds. Borrowing costs do not include gain or loss on revaluation of instruments carried at fair value. When the Company borrows funds specifically to obtain a particular qualifying asset, the borrowing costs that are directly related to that qualifying asset during the period are capitalized. When the Company borrows funds generally and uses them for the purpose of obtaining a qualifying asset, the Company determines the amount of borrowing costs eligible for capitalization by applying a capitalization rate to the expenditures on that asset. Expenditure on qualifying assets includes only the expenditure resulting in the payment of cash, the transfer of other assets or the assumption of interest -bearing |
Research and development costs | Research and development costs Research costs are expensed as incurred. Development costs on an individual project are recognized as an intangible asset when the Company can demonstrate: • • • • • |
Impairment of non-financial assets | Impairment of non-financial assets For the purposes of assessing impairment, assets are grouped in cash -generating -of-use -tax An impairment loss is recognized in the amount by which the carrying amount of an asset or CGU exceeds its recoverable amount. When the recoverable amount of a CGU to which goodwill has been allocated is lower than the CGU’s carrying amount, the related goodwill is first impaired. Any excess amount of impairment is recognized and attributed to assets in the CGU, prorated to the carrying amount of each asset in the CGU. In allocating an impairment loss, the Company shall not reduce the carrying amount of an asset below the highest of its fair value less costs of disposal (if measurable), its value in use (if determinable) and zero. The Company evaluates impairment losses for potential reversals when events or circumstances require such considerations, except for goodwill. |
Government grants and Research and development (“R&D”) tax credits | Government grants and Research and development (“R&D”) tax credits Government grants and Research and development (“R&D”) tax credits are recognized when there is reasonable assurance that the grant will be received and all attached conditions will be complied and will continue to comply with all the conditions related to such assistance. The Company recognizes the grants as other income or as a reduction of capital expenditures in the period that the related expenses or expenditures are incurred. |
Provisions | Provisions Provisions are recognized when the Company has a present obligation (legal or constructive) 1) as a result of a past event; 2) when it is more probable than not that an outflow of resources embodying economic benefits will be required to settle the obligation; and, 3) when a reliable estimate can be made of the amount of the obligation. The expense relating to any provision is accounted for in the consolidated statements of loss. If the known expected settlement date exceeds twelve months from the date of recognition, provisions are discounted using a current pre -tax The provisions are related to onerous contracts. These represent firm customer purchase orders in which the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to be received under it. The unavoidable costs are the cost of fulfilling the contracts. |
Government grant liabilities | Government grant liabilities Government grants that include a reimbursement clause based on the Company sales of a specific program are accounted for as a financial liability. At initial recognition, the government grant is estimated at the present value of all future cash disbursements. After the initial recognition, the government grant is measured at amortized cost using the effective interest method. Assumptions underlying expected sales are reviewed annually and are used to derive expected repayment schedules. When the expected repayment schedule changes, the Company recalculates the carrying value of the government grant liability using the original effective interest rate, with the corresponding gain or loss accounted for in financial expenses. |
Capital stock | Capital stock The Company classifies a financial instrument, or its component part, as a financial liability, a financial asset or an equity instrument in accordance with the substance of the contractual arrangement and the definitions of a financial liability, a financial asset and an equity instrument. In order to determine whether a financial instrument is an equity instrument rather than a financial liability, the instrument is an equity instrument if, and only if: a) the instrument includes no contractual obligation to deliver cash or another financial asset to another entity or to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the Company and b) if the instrument will or may be settled in the Company’s own equity instruments, it is i) a non -derivative The Company determined that its preferred shares containing conversion features as a whole are a non -derivative |
Share-based compensation | Share-based compensation For equity -settled -based The Company also offers equity -settled -settled -based -based -based a) Equity -settled The fair value of stock options is determined at the date of the grant using the Black -Scholes The cumulative expense recognized for equity -settled -market b) Cash -settled A liability is recognized for the fair value of cash -settled |
Defined contribution pension plans | Defined contribution pension plans The Company offers a defined contribution pension plan to its Canadian employees. The Company pays an annual contribution amounting to 3% of employee eligible salary on a civil year basis and has no legal or constructive obligation to pay further amounts. As a result, no related liability appears on the consolidated statement of financial position, except for the expense recognized for contributions due but not yet paid at the end of the reporting period. Contributions paid and payable to the defined contribution plan are expensed as incurred. The Company’s contribution related to the defined contribution plan for the year ended September 30, 2023, amounted to $283,545 ($400,658 in 2022), a portion of which was capitalized as intangible assets. Additionally, the Company offers a defined contribution pension plan to employees of its Israeli subsidiary, which complies with the local laws in that country. The Company pays an annual contribution amounting to 8.33% of the employee eligible salary towards the severance pay component. The Company pays an annual contribution amounting to 6.5% of the employee eligible salary towards the pension component. The Company’s contribution related to the Israeli subsidiary defined contribution plan for the year ended September 30, 2023, amounted to $1,057,881 ($1,101,890 in 2022), a portion of which was capitalized as intangible assets. |
Revenue recognition | Revenue recognition Revenue from contracts with customers is recognized for each performance obligation, either over a period of time or at a point of time, depending on which method reflects the transfer of controls of the services underlying the particular performance obligation to the customer. Revenue from sales of products in the consolidated statement of loss is recognized at the point in time when the Company has transferred control of the products to the buyer, which is generally on delivery of the product. The Company generally has a right to payment at the time of delivery, which is the same time that the Company has satisfied its performance obligation under the arrangement, as such a receivable is recognized as the consideration is unconditional and only the passage of time is required before the payment is due. Consideration received from customers for which the Company has an obligation to transfer products or services is recorded as a deferred revenue. |
Income taxes | Income taxes a) Current income taxes Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted at the reporting date in the countries where the Company operates and generates taxable income. Current income tax relating to items recognized directly in equity is recognized in equity and not in the consolidated statement of loss and comprehensive loss. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate. b) Deferred income taxes The Company accounts for deferred income taxes using the liability method. Under this method, deferred income tax assets and liabilities are determined based on deductible or taxable temporary differences between the carrying amounts and tax bases of the assets and liabilities, using enacted or substantively enacted income tax rates expected to be in effect for the year in which differences are expected to reverse. Deferred income tax assets are recorded only to the extent that it is probable that they will be recovered. |
Fair value measurement | Fair value measurement The fair value of a financial instrument is equal to the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as at the measurement date. Fair value is based on the presumption that the transaction takes place in the principal market for the asset or liability. The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. Fair value requires the use of valuation techniques and assumptions. Fair value amounts disclosed in these consolidated financial statements represent the Company’s estimate of the price at which a financial instrument could be sold or transferred between market participants. They are point -in-time All assets and liabilities for which fair value is measured in the consolidated financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole: Level 1 — Valuation based on quoted prices in active markets (unadjusted) for identical assets or liabilities. Level 2 — Valuation techniques based on inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices). Level 3 — Valuation techniques for which a significant input for the asset or liability is not based on observable market data (unobservable inputs). |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Summary of Significant Accounting Policies [Abstract] | |
Schedule of Consolidated Statements of Financial Position | Accordingly, the consolidated financial statements for the years ended September 30, 2022 and 2021 were restated to reflect adjustments made as a result of these corrections of errors, as disclosed as follow: As at September 30, 2022 Adjustments Consolidated statements of financial position As previously reported Government grant liability Development costs Others Total As restated Assets Government assistance and research and development tax credits receivable 2,845,728 (287,058 ) — — (287,058 ) 2,558,670 Intangible assets, net 34,798,844 (137,173 ) 99,518 — (37,655 ) 34,761,189 Goodwill 7,416,126 — — (98,000 ) (98,000 ) 7,318,126 Liabilities Accounts payable and accrued liabilities 10,652,362 — — 336,000 336,000 10,988,362 Government grant liabilities 979,105 430,589 — — 430,589 1,409,694 Shareholders’ equity (deficiency) Deficit (431,492,229 ) (514,887 ) 99,518 (434,000 ) (849,369 ) (432,341,598 ) Non-controlling interests (5,561,151 ) (339,933 ) — — (339,933 ) (5,901,084 ) |
Schedule of Consolidated Statements of Loss | Consolidated statements of loss for the year ended September 30, 2022 Adjustments As previously reported Government grant liability Development costs Others Total As restated Cost of sales 5,241,718 — — 69,000 69,000 5,310,718 General and administrative expenses 15,358,226 — — 190,067 190,067 15,548,293 Research and development 21,673,205 403,656 32,050 (51,000 ) 384,706 22,057,911 Finance costs, net (1) (9,945,296 ) 50,915 (140,000 ) — (89,085 ) (10,034,381 ) Net loss and comprehensive (72,864,057 ) (454,571 ) 107,950 (208,067 ) (554,688 ) (73,418,745 ) Net loss attributable to the equity holder of the parent (68,943,994 ) (274,737 ) 107,950 (208,067 ) (374,854 ) (69,318,848 ) Net loss attributable to non-controlling interests (3,920,063 ) (179,834 ) — — (179,834 ) (4,099,897 ) Net loss per common share, basic and diluted, attributable to the equity holder of the parent (511.03 ) — — — (2.78 ) (513.80 ) (1) Consolidated statements of loss for the year ended September 30, 2021 As previously reported Adjustments Government grant liability Development costs Others Total As restated Cost of sales 5,261,390 — — (3,000 ) (3,000 ) 5,258,390 General and administrative expenses 11,700,922 — 95,000 145,933 240,933 11,941,855 Research and development 10,206,764 397,607 571,367 51,000 1,019,974 11,226,737 Finance costs, net (2) 11,694,852 2,643 112,066 (114,000 ) 709 11,695,561 Net loss and comprehensive (47,598,378 ) (400,249 ) (778,433 ) (79,933 ) (1,258,615 ) (48,856,993 ) Net loss attributable to the equity holder of the parent (45,860,522 ) (240,150 ) (778,433 ) (79,933 ) (1,098,516 ) (46,959,038 ) Net loss attributable to non-controlling interests (1,737,856 ) (160,099 ) — — (160,099 ) (1,897,955 ) Net loss per common share, basic and diluted, attributable to the equity holder of the parent (706.13 ) — — — (16.91 ) (723.05 ) (2) |
Schedule of Consolidated Statements of Cash Flows | Consolidated statements of cash flows for the year ended September 30, 2022 As previously reported Adjustments As restated Operating activities Loss before income taxes (72,864,057 ) (554,688 ) (73,418,745 ) Amortization of intangible assets 308,064 (51,000 ) 257,064 Finance costs, net (7,236,716 ) (140,000 ) (7,376,716 ) Other costs 145,933 (145,933 ) — Foreign exchange gain (1,807,450 ) 50,915 (1,756,535 ) Net change in non-cash working capital items (1,016,971 ) 625,163 (391,808 ) Net cash flows related to operating activities (37,911,354 ) (215,543 ) (38,126,897 ) Investing Activities Grants received related to intangible assets and property and equipment 949,609 36,686 986,295 Net cash flows related to investing activities (12,037,428 ) 36,686 (12,000,742 ) Financing activities Government grant liability issuance — 178,857 178,857 Net cash flows related to financing activities 73,768,733 178,857 73,947,590 Consolidated statement of cash flows for the year ended September 30, 2021 As previously reported Adjustments As restated Operating activities Net loss (47,598,378 ) (1,258,615 ) (48,856,993 ) Amortization of intangible assets 412,784 51,000 463,784 Finance costs, net 11,549,151 (1,934 ) 11,547,217 Other costs — 145,933 145,933 Foreign exchange gain (101,939 ) 2,643 (99,296 ) Net change in non-cash working capital items 2,755,712 744,116 3,499,828 Net cash flows related to operating activities (20,472,490 ) (316,857 ) (20,789,347 ) Investing Activities Grants received related to intangible assets and property and equipment 515,588 125,445 641,033 Net cash flows related to investing activities (16,631,435 ) 125,445 (16,505,990 ) Financing activities Government grant liability issuance — 191,412 191,412 Net cash flows related to financing activities 41,547,256 191,412 41,738,668 |
Schedule of Company’s Subsidiaries | These consolidated financial statements include the accounts of the Company and those of its subsidiaries. The Company’s subsidiaries are as follows: Name of subsidiary Place of incorporation and operation Proportion of ownership interest held by the Company 2023 2022 LeddarTech USA Inc U.S. 100 % 100 % LeddarTech (Shenzhen) Sensing Technology Co., Ltd China 100 % 100 % Vayavision Sensing, Ltd. (“Vayavision”) Israel 60 % 60 % LeddarTech Germany GmbH Germany 100 % 100 % LeddarTech Holdings Inc. Canada 100 % N.A. |
Schedule of Assets' Estimated Useful Lives | Depreciation is calculated using the straight -line Computer equipment 3 years Office furniture and equipment 5 years R&D equipment and tools 5 years Stands and moulds 4 and 10 years Leasehold improvements Term of lease Vehicles 5 years Office premises 3 to 15 years Other equipment 3 to 5 years |
Schedule of Straight-Line Method Over the Assets’ Estimated Useful Lives | Amortization is calculated using the straight -line Patents Life of the patent Licenses 10 and 18 years Software 3 years Others 10 years Development costs Period of expected future sales from the related project (1) (1) |
Segments (Tables)
Segments (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Segments [Abstract] | |
Schedule of Revenue | The following table presents revenue by location based on the primary billing address of the customer: Year ended September 30, 2023 2022 2021 $ $ $ United States 2,863,154 4,609,147 2,909,415 France 2,433,571 775,891 1,606,589 South Korea 744,466 502,461 787,026 Hong Kong 646,696 296,838 195,038 Germany 182,351 266,662 293,104 Canada 131,675 709,172 425,521 Japan 124,384 263,752 182,840 Poland 116,810 — — Columbia 54,767 — — United Kingdom — 300,211 612,456 Italy — 171,237 — Turkey — 156,420 505,189 China — 125,441 — New Zealand — 71,015 158,115 Vietnam — — 167,436 Other 149,303 517,874 388,597 7,447,177 8,766,121 8,231,326 |
Schedule of Non-Current Assets | The following table presents non -current -of-use -term As restated As at September 30, 2023 2022 $ $ Canada 20,480,112 20,587,675 Israel 37,688,596 31,007,023 58,168,708 51,594,698 |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Revenue [Abstract] | |
Schedule of Deferred Revenue | The Company recorded the following activity related to customer prepayments, which are recorded as deferred revenue within “Accounts payable and accrued liabilities” (note 12): As at September 30, 2023 2022 2021 Balance, beginning of year 311,516 5,845 100,271 Additions to prepayments received in the year 2,862,150 2,178,427 2,046,289 Customer fulfillments from accrual (2,069,437 ) (1,872,756 ) (2,140,715 ) Balance, end of year 1,104,229 311,516 5,845 |
Trade Receivable and Other Re_2
Trade Receivable and Other Receivables (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Trade Receivable and Other Receivables [Abstract] | |
Schedule of Trade Receivable and Other Receivables | As at September 30, 2023 2022 Trade accounts receivable 1,663,495 2,483,083 Commodity taxes receivable 1,407,560 693,250 Others 618,420 609,948 3,689,475 3,786,281 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Inventories [Abstract] | |
Schedule of Inventories | As at September 30, 2023 2022 Raw materials 942,860 2,546,853 Finished goods 304,086 390,296 1,246,946 2,937,149 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Property and Equipment [Abstract] | |
Schedule of Property and Equipment | Computer $ Office $ R&D $ Stands and $ Leasehold $ Vehicles $ Total $ Cost October 1, 2022 4,867,724 1,108,834 1,166,561 898,697 1,133,617 192,205 9,367,638 Additions 147,799 — 49,554 — (8,578 ) — 188,775 Disposals — (35,000 ) (10,000 ) — — — (45,000 ) September 30, 2023 5,015,523 1,073,834 1,206,115 898,697 1,125,039 192,205 9,511,413 Accumulated depreciation October 1, 2022 3,376,015 856,301 657,734 497,133 259,710 97,736 5,744,629 Depreciation (1) 916,022 104,296 336,380 132,598 156,690 49,341 1,695,327 September 30, 2023 4,292,037 960,597 994,114 629,731 416,400 147,077 7,439,956 Net book value September 30, 2023 723,486 113,237 212,001 268,966 708,639 45,128 2,071,457 (1) Computer equipment $ Office furniture and equipment $ R&D equipment and tools $ Stands and $ Leasehold $ Vehicles $ Total $ Cost October 1, 2021 3,706,414 1,019,548 1,057,757 878,553 403,070 129,405 7,194,747 Additions 1,161,310 89,286 108,804 20,144 730,547 62,800 2,172,891 September 30, 2022 4,867,724 1,108,834 1,166,561 898,697 1,133,617 192,205 9,367,638 Accumulated depreciation October 1, 2021 2,340,938 648,503 501,916 438,391 162,541 50,322 4,142,611 Depreciation (1) 1,035,077 207,798 155,818 58,742 97,169 47,414 1,602,018 September 30, 2022 3,376,015 856,301 657,734 497,133 259,710 97,736 5,744,629 Net book value September 30, 2022 1,491,709 252,533 508,827 401,564 873,907 94,469 3,623,009 (1) Computer $ Office $ R&D $ Stands and $ Leasehold $ Vehicles $ Total $ Cost October 1, 2020 2,578,827 1,003,451 905,695 704,565 386,641 73,562 5,652,741 Additions 1,322,463 18,334 177,728 213,377 17,245 67,720 1,816,867 Grants (note 23) (194,876 ) (2,237 ) (25,666 ) (39,389 ) (816 ) (11,877 ) (274,861 ) September 30, 2021 3,706,414 1,019,548 1,057,757 878,553 403,070 129,405 7,194,747 Accumulated depreciation October 1, 2020 1,445,903 469,404 316,258 367,041 98,345 23,976 2,720,927 Depreciation (1) 895,035 179,099 185,658 71,350 64,196 26,346 1,421,684 September 30, 2021 2,340,938 648,503 501,916 438,391 162,541 50,322 4,142,611 Net book value September 30, 2021 1,365,476 371,045 555,841 440,162 240,529 79,083 3,052,136 (1) |
Schedule of Depreciation is Included in the Consolidated Statement of Loss | Depreciation is included in the consolidated statement of loss as follows: Year ended September 30, 2023 2022 2021 Cost of sales 214,828 157,819 142,870 Marketing and product management 1,686 624 18,338 General and administrative expenses 794,273 1,108,835 926,354 Research and development costs 263,810 181,589 45,271 1,274,597 1,448,867 1,132,833 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Leases [Abstract] | |
Schedule of Carrying Amounts of Rights of Use Assets Recognized | Set out below are the carrying amounts of right -of-use Office premises Other equipment Total October 1, 2020 4,434,654 25,087 4,459,741 Additions 6,951 — 6,951 Depreciation 1 (522,323 ) (7,262 ) (529,585 ) September 30, 2021 3,919,282 17,825 3,937,107 Additions 2,686,444 — 2,686,444 Depreciation (1) (723,915 ) (7,262 ) (731,177 ) September 30, 2022 5,881,811 10,563 5,892,374 Lease modification (879,689 ) (879,689 ) Reassessment of the right-of-use assets (888,426 ) — (888,426 ) Depreciation (1) (938,071 ) (5,870 ) (943,941 ) September 30, 2023 3,175,625 4,693 3,180,318 (1) -of-use |
Schedule of Carrying Amounts of Lease Liabilities | Set out below are the carrying amounts of lease liabilities and the movements during the year ended September 30: 2023 2022 2021 Balance, beginning of year 6,579,103 4,264,983 4,673,283 Additions — 2,686,444 6,951 Lease modification (958,296 ) — — Reassessment of the lease liability (888,426 ) — — Accretion of interest 401,229 551,291 303,390 Gain on foreign exchange (213,333 ) (55,852 ) — Lease payments (1,139,044 ) (867,763 ) (718,641 ) Balance, end of year 3,781,233 6,579,103 4,264,983 Current 722,675 673,605 320,488 Non-current 3,058,558 5,905,498 3,944,495 |
Schedule of Depreciation of Right of Use Assets | Depreciation of right -of-use Year ended September 30, 2023 2022 2021 Cost of sales 48,542 50,071 43,752 Marketing and product management 5,778 11,303 24,885 Selling expenses 5,526 11,247 13,319 General and administrative expenses 455,932 237,596 53,626 Research and development costs 66,158 300,724 258,003 581,936 610,941 393,585 |
Schedule of Maturity Analysis of Lease Liabilities Based on Contractual Undiscounted Payments | The maturity analysis of lease liabilities based on contractual undiscounted payments is as follows: $ Less than 1 year 1,082,230 1 to 5 years 3,490,733 More than 5 years 99,388 4,672,351 |
Schedule of Amounts Recognized in Net Loss | The following are the amounts recognized in net loss: Year ended September 30, 2023 2022 2021 Depreciation expense of right-of-use assets 581,936 610,941 393,585 Interest expense on lease liabilities 401,229 551,291 303,390 Expense relating to short-term leases — 16,649 56,614 Expense relating to leases of low-value assets — 37,477 852 Variable lease payments — 2,805 150,130 Gain on foreign exchange (213,333 ) (55,852 ) — 769,832 1,163,311 904,571 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Intangible Assets [Abstract] | |
Schedule of Intangible Assets | Intangible assets Patents $ Licenses $ Software $ Development costs (2) $ Others $ Total $ Cost October 1, 2022 2,321,660 2,610,533 575,719 69,926,228 94,810 75,528,950 Additions 1,128,795 — — 12,769,457 — 13,898,252 Borrowing costs (1) — — — 3,898,829 — 3,898,829 Write-offs (3) — (1,424,196 ) — (40,993,947 ) — (42,418,143 ) R&D tax credits (note 23) — — — (256,234 ) — (256,234 ) Grants (note 23) — — — (268,460 ) — (268,460 ) September 30, 2023 3,450,455 1,186,337 575,719 45,075,873 94,810 50,383,194 Accumulated amortization and impairment October 1, 2022 798,878 1,147,272 476,003 38,278,286 67,322 40,767,761 Amortization 260,129 36,489 44,995 56,682 5,734 404,029 Impairment — 1,424,196 — 4,367,243 — 5,791,439 Write-offs (3) — (1,424,196 ) — (40,993,947 ) — (42,418,143 ) September 30, 2023 1,059,007 1,183,761 520,998 1,708,264 73,056 4,545,086 Net book value September 30, 2023 2,391,448 2,576 54,721 43,367,609 21,754 45,838,108 (1) (2) (3) i. -off ii. The recoverable amount of the CGU is determined based on the higher of its value -in-use -in-use Patents $ Licenses $ Software $ Development costs $ Others $ Total $ (Restated – (Restated – Cost October 1, 2021 1,966,646 2,595,473 494,149 49,764,539 94,810 54,915,617 Additions 355,014 15,060 81,570 14,894,330 (1)(2) — 15,345,974 Borrowing costs — — — 6,994,197 (3) — 6,994,197 R&D tax credits (note 23) — — — (776,050 ) — (776,050 ) Grants (note 23) — — — (950,788 ) — (950,788 ) September 30, 2022 2,321,660 2,610,533 575,719 69,926,228 94,810 75,528,950 Accumulated amortization and impairment October 1, 2021 678,067 910,756 399,808 28,374 61,316 2,078,321 Amortization 120,811 236,516 76,195 42,409 6,006 481,937 Impairment — — — 38,207,503 (5) — 38,207,503 September 30, 2022 798,878 1,147,272 476,003 38,278,286 67,322 40,767,761 Net book value September 30, 2022 1,522,782 1,463,261 99,716 31,647,942 (4) 27,488 34,761,189 (1) -settled IFRS 3, Business Combinations (2) (3) (4) (5) -financial i. -off ii. Patents $ Licenses $ Software $ Development $ Others $ Total $ (Restated – (Restated – Cost October 1, 2020 1,658,213 2,592,589 457,382 29,453,730 94,810 34,256,724 Additions 348,073 2,884 44,025 16,667,043 (1) — 17,062,025 Borrowing costs — — — 6,304,340 (2) — 6,304,340 R&D tax credits (note 23) — — — (995,506 ) — (995,506 ) Grants (note 23) (39,640 ) — (7,258 ) (1,665,068 ) — (1,711,966 ) September 30, 2021 1,966,646 2,595,473 494,149 49,764,539 94,810 54,915,617 Accumulated amortization October 1, 2020 512,852 538,907 269,323 14,186 54,396 1,389,664 Amortization 165,215 371,849 (1) 130,485 14,188 6,920 688,657 September 30, 2021 678,067 910,756 399,808 28,374 61,316 2,078,321 Net book value September 30, 2021 1,288,579 1,684,717 94,341 49,736,165 (3) 33,494 52,837,296 (1) (2) (3) |
Schedule of Amortization in Consolidated Statement of Loss | Amortization is included in the consolidated statement of loss as follows: Year ended September 30, 2023 2022 2021 General and administrative expenses 52,160 127,764 207,318 Research and development costs 234,334 129,300 256,466 286,494 257,064 463,784 |
Accounts Payable and Accrued _2
Accounts Payable and Accrued Liabilities (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Accounts Payable and Accrued Liabilities [Abstract] | |
Schedule of Accounts Payable and Accrued Liabilities | As restated (note 2) 2023 2022 Trade payables and accrued liabilities 6,466,196 3,626,462 Salaries and fringe benefits 5,757,652 6,584,878 Interest payable on credit facility 221,247 353,014 Deferred revenue (note 6) 1,104,229 311,516 Others 21,581 112,492 13,570,905 10,988,362 |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Provisions [Abstract] | |
Schedule of Changes in Provisions | The following table details the changes in provisions between September 30, 2022 and 2023: Onerous contracts Balance, as at September 30, 2022 — New provisions 1,652,216 Revision of estimations (287,021 ) Provisions utilized (487,051 ) Balance, as at September 30, 2023 878,144 |
Long-Term Debt (Tables)
Long-Term Debt (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Long Term Debt Abstract | |
Schedule of Maturities and Weighted Average Interest Rates | The following table details the maturities and weighted average interest rates related to long -term Final Weighted average effective interest rate 2023 2022 Convertible loan (a) 2028 33.65 11,258,950 — Credit facility (b) 2026 17.58 28,747,705 30,000,000 Term loan (c) 2030 33.65 7,718,928 10,034,513 Other loan (e) 2023 N/A — 1,582,780 Long-term debt 23.96 47,725,583 41,617,293 Current portion of long-term debt — 30,342,675 Long-term debt 47,725,583 11,274,618 |
Schedule of Black-Scholes Option Pricing Model | The fair value of the conversion option and the warrants at initial recognition were determined using the Black -Scholes Conversion option Warrants Fair value of the underlying share US$ US$ Exercise price US$ US$ Risk-free interest rate 4 % 5 % Expected volatility 60 % 60 % Expected life 5.00 years 0.04 years Dividend yield 0 % 0 % |
Government Grant Liabilities (T
Government Grant Liabilities (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Government Grant Liabilities [Abstract] | |
Schedule of Government Grant Liabilities | Government grant liabilities 2023 2022 2021 (Restated – (Restated – Balance, beginning of year 1,409,694 1,159,487 420,000 Grants received — 178,856 191,902 Accretion interest expense 323,250 384,985 157,202 Loss (gain) on remeasurement due to changes in forecasts (248,915 ) (463,552 ) 410,740 Foreign exchange loss (gain) (15,733 ) 149,918 (20,357 ) Balance, end of year 1,468,296 1,409,694 1,159,487 Current 568,807 — — Non-current 899,489 1,409,694 1,159,487 |
Capital Stock (Tables)
Capital Stock (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Capital Stock [Abstract] | |
Schedule of Issued and Paid | Issued and paid As at September 30, 2023 2022 Number $ Number $ Common shares 167,610 9,894,326 167,610 9,894,326 Class A preferred shares 1,230,291 79,056,406 1,230,291 79,056,406 Class B preferred shares 1,296,922 82,626,031 1,296,922 82,626,031 Class C preferred shares 2,069,741 116,877,914 2,069,741 116,877,914 Class D-1 preferred shares 1,349,111 100,830,621 744,107 82,274,185 Class D-2 preferred shares 635,327 62,960,906 635,327 62,960,906 6,749,002 452,246,204 6,143,998 433,689,768 |
Schedule of Common Share Activity | The following table summarizes common share activity during the year: Number $ Common shares as at September 30, 2021 124,793 7,664,466 Shares issued related to Vayavision acquisition 42,594 2,215,739 Shares issued related to option exercises (note 19) 223 14,121 Common shares as at September 30, 2022 167,610 9,894,326 Common shares as at September 30, 2023 167,610 9,894,326 |
Warrants (Tables)
Warrants (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Warrants [Abstract] | |
Schedule of Warrants Activity | The following table summarizes warrants activity: Year ended Year ended Number weighted Number weighted Outstanding, beginning of year 13,890 138.68 13,890 138.68 Issued 605,004 30.66 — — Exercised (605,004 ) (30.66 ) — — Outstanding, end of year 13,890 138.68 13,890 138.68 Exercisable, end of year 13,890 138.68 13,890 138.68 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Stock-Based Compensation (Tables) [Line Items] | |
Schedule of Changes in the Number of M-Options and C-Options Outstanding | Changes in the number of stock options outstanding were as follows: Year ended Year ended Number $ Number $ Outstanding, beginning of year 1,268,360 58.64 1,057,913 47.97 Granted — — 366,420 102.50 Exercised — — (223 ) 41.35 Forfeited (200,421 ) 69.01 (155,750 ) 87.29 Cancelled (1,067,939 ) 56.69 — — Outstanding, end of year — — 1,268,360 58.64 Exercisable, end of year — — 759,740 35.41 |
Schedule of Options Weighted Average Remaining Life | Outstanding options as at Outstanding options as at Exercise price Number weighted Number weighted $ 2.75 — — 142,094 2.1 $ 5.50 — — 182,515 2.9 $ 32.27 — — — — $ 38.26 — — 11,827 8.2 $ 45.20 — — 406,779 6.4 $ 101.64 — — 56,050 8.2 $ 102.50 — — 454,295 9.0 $ 106.67 — — 4,800 8.7 $ 136.47 — — 10,000 8.6 — — 1,268,360 6.5 Exercisable options as at September 30, 2023 Exercisable options as at September 30, 2022 Exercise price Number weighted Number weighted $ 2.75 — — 142,094 2.1 $ 5.50 — — 182,515 2.9 $ 32.27 — — — 0.0 $ 38.26 — — 11,272 8.2 $ 45.20 — — 321,848 6.4 $ 101.64 — — 16,345 8.2 $ 102.50 — — 81,966 8.0 $ 106.67 — — 1,200 8.7 $ 136.47 — — 2,500 8.6 — — 759,740 5.0 |
Schedule of Weighted Average Fair Value of Stock Options Granted | The fair value of each granted option was determined using the Black -Scholes 2023 2022 2021 Fair value of the underlying share N/A $ 72.88 $ 111.81 Exercise price N/A $ 102.50 $ 99.22 Risk-free interest rate N/A 2.20% 0.20% Expected volatility N/A 81% 45% Expected life N/A 2.41 years 3 years Dividend yield N/A 0% 0% |
Schedule of Reconciles the Redeemable Stock Options | The following table reconciles the redeemable stock options recorded in the consolidated statement of financial position: Years ended Number of stock options Weighted Total fair Class M series 2014 139,697 5.50 768,334 Class M series 2017 57,161 45.20 2,583,677 Class M series 2020 26,834 102.50 2,750,485 Total redeemable stock options 223,692 6,102,496 |
Schedule of Total Stock-based Compensation Expense | Year ended September 30, 2023 2022 2021 Stock-based compensation ESOP, equity-settled 2,474,955 3,223,540 6,139,661 C-Options, equity-settled — — 703,463 Vayavision call option, equity-settled 603,051 1,693,517 3,781,504 Reserve stock options movement 3,078,006 4,917,057 10,624,628 M-Options, cash-settled — (317,663 ) 3,027,513 Capitalized as development costs (641,032 ) (326,721 ) (1,458,523 ) Total stock-based compensation expenses 2,436,974 4,272,673 12,193,618 |
Black-Scholes Option Pricing Model [Member] | |
Stock-Based Compensation (Tables) [Line Items] | |
Schedule of Weighted Average Fair Value of Stock Options Granted | The fair value of each granted C -Option -Scholes Year ended September 30, 2023 2022 2021 C-Options Weighted average fair value of the underlying share — — $ 106.26 Exercise price — — $ 102.50 Risk-free interest rate — — 0.20% Expected volatility — — 45% Expected life — — 3 years Dividend yield — — 0% |
Management Stock Option Plan [Member] | |
Stock-Based Compensation (Tables) [Line Items] | |
Schedule of Changes in the Number of M-Options and C-Options Outstanding | Changes in the number of M -Options -Options Year ended Number weighted M-Options Outstanding, beginning of year 223,692 0.001 Granted — — Forfeited — — Outstanding, end of year 223,692 0.001 Exercisable, end of year — — C-Options Outstanding, beginning of year 217,970 27.85 Granted — — Forfeited — — Outstanding, end of year 217,970 27.85 Exercisable, end of year — — Year ended Number weighted M-Options Outstanding, beginning of year 227,017 0.001 Granted — — Forfeited (3,325 ) 0.001 Outstanding, end of year 223,692 0.001 Exercisable, end of year — — C-Options Outstanding, beginning of year 221,295 28.87 Granted — — Forfeited (3,325 ) 95.54 Outstanding, end of year 217,970 27.85 Exercisable, end of year — — Year ended Number weighted M-Options Outstanding, beginning of year 197,757 0.001 Granted 29,755 0.001 Forfeited (495 ) 0.001 Outstanding, end of year 227,017 0.001 Exercisable, end of year — — C-Options Outstanding, beginning of year 192,035 17.50 Granted 29,755 102.50 Forfeited (495 ) 102.50 Outstanding, end of year 221,295 28.87 Exercisable, end of year — — |
Schedule of Options Weighted Average Remaining Life | The following table summarizes information relating to the M -Options -Options Outstanding options as at Outstanding options as at Outstanding options as at Exercise price Number weighted Number weighted Number weighted M-Options $0.001 223,692 2.90 223,692 3.90 227,017 4.81 C-Options $5.50 133,975 1.81 133,975 2.81 133,975 3.01 $45.20 57,161 4.10 57,161 5.10 57,565 6.01 $102.50 26,834 7.22 26,834 8.22 29,755 9.01 217,970 3.07 217,970 4.07 221,295 4.60 |
Operating Expenses (Tables)
Operating Expenses (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Operating Expenses [Abstract] | |
Schedule of Operating Expenses by Nature | Operating expenses by nature include the following: As restated As restated Year ended September 30, 2023 2022 2021 Employee benefit expenses 23,250,847 30,802,594 17,290,669 Stock-based compensation 2,436,974 4,272,673 12,193,618 Research costs 624,866 2,074,830 2,732,403 Impairment loss related to intangible assets 5,791,439 38,207,503 — Marketing expenses 2,950,052 917,223 756,199 Selling expenses 143,394 299,382 615,763 Depreciation of property and equipment 1,059,769 1,291,048 989,963 Product line management expenses 38,293 47,965 45,640 Recruitment fees 369,482 791,788 522,434 Professional fees 6,795,731 3,852,140 3,252,743 Other expenses 2,331,738 1,176,515 1,082,619 Subcontractor services 1,632,311 2,006,904 1,757,828 Travel expenses 527,826 482,358 34,253 Amortization of intangible assets 286,494 257,064 463,784 Insurance 371,791 373,311 448,777 Research and development tax credits (225,609 ) (70,191 ) (237,364 ) Depreciation expense on right of use assets 533,394 560,870 349,833 Business acquisition costs 3,506,630 — — 52,425,422 87,343,977 42,299,162 |
Loss Per Share (Tables)
Loss Per Share (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Loss Per Share [Abstract] | |
Schedule of Net Loss | The following table reflects the calculation of net loss attributable to equity holders of the parent and the computation of basic and diluted loss per share for the periods indicated: As restated As restated Year ended September 30, 2023 2022 2021 Loss attributable to equity holders of the parent (47,992,097 ) (69,318,848 ) (46,959,038 ) Weighted average number of common shares basic and diluted 167,610 134,913 64,946 Basic and diluted loss per common share (286.33 ) (513.80 ) (723.05 ) |
Schedule of Dilution from Outstanding Stock Options | The effect of dilution from outstanding stock options, convertible preferred stocks, credit facility, convertible loans, warrants, put and call options and contingent consideration payable were excluded from the calculation of the weighted average number of common shares for diluted loss per common share for the years ended September 30, 2023 and 2022 as they are antidilutive. Year ended September 30, 2023 2022 Outstanding employee stock option 441,662 1,710,022 Convertible preferred stock 6,581,392 5,976,388 Warrants 13,890 13,890 Put and call options recognized as other component of equity 94,931 94,931 Conversion options 2,200,053 — |
Additional Information Includ_2
Additional Information Included in the Consolidated Statement of Cash Flows (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Additional Information Included in the Consolidated Statement of Cash Flows [Abstract] | |
Schedule of Changes in Non-Cash Working Capital Items | Changes in non -cash As restated As restated As at September 30, 2023 2022 2021 Trade receivable and other receivables 96,806 (2,219,607 ) (896,440 ) Government assistance and R&D tax credits receivable (205,042 ) 553,097 1,517,744 Inventories (609,663 ) (541,093 ) 272,309 Prepaid expenses (273,497 ) 95,795 (178,516 ) Accounts payable and accrued liabilities 2,534,308 1,720,000 2,784,731 Provisions 878,144 — — 2,421,056 (391,808 ) 3,499,828 |
Government Grants (Tables)
Government Grants (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Government Grants [Abstract] | |
Schedule of Government Grants | Year ended September 30, 2023 Grant Grant recorded Total Other grants 377,080 268,460 645,540 Total grants 377,080 268,460 645,540 R&D tax credit 225,609 256,234 481,843 Total grants and R&D tax credits 602,689 524,694 1,127,383 Year ended September 30, 2022 Grant Grant recorded Total (Restated – (Restated – (Restated – Canada Emergency Wage Subsidy 83,735 33,684 117,419 Other grants 351,713 917,104 1,268,817 Total grants 435,448 950,788 1,386,236 R&D tax credit 70,191 776,050 846,241 Total grants and R&D tax credits 505,639 1,726,838 2,232,477 Year ended September 30, 2021 Grant recognized in statement of loss Grant recorded against carrying amount of property and equipment and intangible assets (notes 9, 11) Total (Restated – (Restated – (Restated – Canada Emergency Wage Subsidy 876,434 391,886 1,268,320 Interest free loan 1,192,741 1,109,904 2,302,645 Other grants 95,619 485,037 580,656 Total grants 2,164,794 1,986,827 4,151,621 R&D tax credit 237,364 995,506 1,232,870 Total grants and R&D tax credits 2,402,158 2,982,333 5,384,491 |
Finance Costs, Net (Tables)
Finance Costs, Net (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Finance Costs, Net [Abstract] | |
Schedule of Finance Costs, Net | As restated As restated Year ended September 30, 2023 2022 2021 Finance income Interest income (223,594 ) (40,251 ) (3,454 ) Gain on debt modification (note 14c) (4,332,173 ) — — Gain on debt settlement (note 14e) (1,605,561 ) — — Premium and discount amortization — — — (6,161,328 ) (40,251 ) (3,454 ) Finance costs Interest expense on term loan (note 14c) 2,016,587 1,830,360 1,225,861 Interest expense on lease liabilities (note 10) 401,229 551,291 303,390 Interest expense on credit facility (note 14b) 4,843,390 3,630,814 974,903 Interest expense on convertible notes (note 14a) 1,067,932 — — Interest expense on bridge loans (note 14d) 138,347 — — Interest expense on other loan (note 14e) 160,413 274,263 319,258 Issuance and modification costs of convertible loans — 124,717 124,022 Transaction costs related to company refinancing 350,000 — — Net loss on debt extinguishments — 454,092 458,593 Accretion and remeasurement of government grant liability (note 15) 74,335 (78,567 ) 567,942 Bank charges 64,166 91,840 81,261 9,116,399 6,878,810 4,055,230 As restated As restated Year ended September 30, 2023 2022 2021 Loss (gain) on revaluation of instruments carried at fair value Conversion option 21,100 — — Convertible loans — (6,089,300 ) 17,813,766 Credit facility — 225,105 1,700,923 Derivative warrant liability — — 66,613 Contingent consideration payable — (1,265,043 ) (5,700,260 ) 21,100 (7,129,238 ) 13,881,042 Capitalized borrowing costs (note 11) (3,898,829 ) (6,994,197 ) (6,304,340 ) Foreign exchange loss (gain) 224,057 (2,749,505 ) 67,083 Finance costs, net (698,601 ) (10,034,381 ) 11,695,561 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Income Taxes [Abstract] | |
Schedule of Reconciliation of the Income Tax Provision | The reconciliation of the income tax provision (recovery) calculated using the combined Canadian federal and provincial statutory income tax rate with the income tax provision (recovery) in the consolidated financial statements is as follows: As restated As restated Year ended September 30, 2023 2022 2021 Loss before income taxes (51,424,409 ) (73,418,745 ) (48,856,993 ) Income taxes at the Canadian statutory tax rate of 26.50% (26.50% in 2022 and 26,50% in 2021) (13,760,987 ) (19,455,967 ) (12,947,103 ) Tax effect from: Effect of differences in tax rates in other jurisdictions 903,064 659,121 497,913 Non-deductible items 574,922 8,131,886 1,980,532 Tax losses and deductible temporary differences for which no deferred income tax assets is recognized 11,436,187 10,696,915 10,643,020 Adjustment in respect of prior years 846,814 (31,954 ) (172,895 ) Other — — (1,467 ) Income tax expense (recovery) — — — |
Schedule of Deferred Tax Assets | Deferred income tax assets and liabilities on temporary differences and unused tax losses are as follows: Balance as at October 1, Credited Credited Balance as at Financing fees 1,970,593 154,336 — 2,124,929 Provision and accruals 519,550 (453 ) — 519,097 Research and development cost 4,700,695 660,343 — 5,361,039 Losses carried forward 43,648,546 12,030,648 — 55,679,194 Convertible loan — 12,175 — 12,175 Lease liabilities 1,520,988 (596,044 ) — 924,944 Government grant liability 140,547 11,527 — 152,074 Deferred income grants 120,573 — — 120,573 Other debt discount 420,004 (420,004 ) — — Total deferred tax assets 53,041,496 11,852,529 — 64,894,025 Property and equipment (326,154 ) 273,159 — (52,996 ) Intangible assets (5,036,692 ) 828,977 — (4,207,715 ) Right-of-use assets (1,347,385 ) 602,045 — (745,340 ) Debt discount-Grant/warrants (2,309,719 ) (686,102 ) — (2,995,821 ) Grant receivable (38,156 ) 14,967 — (23,189 ) Conversion option liability — 5,592 — 5,592 Total deferred tax liabilities (9,058,106 ) 1,038,637 — (8,019,469 ) Net deferred tax assets (liabilities) 43,983,390 12,891,166 — 56,874,556 Unrecognized net deferred tax assets (43,983,390 ) (12,891,166 ) — (56,874,556 ) Recognized net deferred tax (liabilities) — — — — Balance as at Credited Credited Balance as at Financing fees 358,581 (154,408 ) 1,766,420 1,970,593 Provision and accruals 381,341 138,209 — 519,550 Research and development cost 5,361,422 (660,727 ) — 4,700,695 Losses carried forward 31,951,781 11,696,765 — 43,648,546 Convertible loan 7,152,109 (7,152,109 ) — — Lease liabilities 1,128,610 392,378 — 1,520,988 Government grant liability 96,044 44,503 — 140,547 Deferred income grants 120,573 — — 120,573 Other debt discount 514,938 (94,934 ) — 420,004 Total deferred tax assets 47,065,399 4,209,677 1,766,420 53,041,496 Property and equipment (251,862 ) (74,292 ) — (326,154 ) Intangible assets (11,535,305 ) 6,498,613 — (5,036,692 ) Right-of-use assets (1,041,824 ) (305,561 ) — (1,347,385 ) Debt discount-Grant/warrants (2,716,353 ) 406,634 — (2,309,719 ) Grant receivable — (38,156 ) — (38,156 ) Total deferred tax liabilities (15,545,344 ) 6,487,238 — (9,058,106 ) Net deferred tax assets (liabilities) 31,520,055 10,696,915 1,766,420 43,983,390 Unrecognized net deferred tax assets (31,520,055 ) (10,696,915 ) (1,766,420 ) (43,983,390 ) Recognized net deferred tax (liabilities) — — — — Balance as at Credited Balance as at Financing fees 396,398 (37,817 ) 358,581 Provision and accruals 56,011 325,330 381,341 Research and development cost 3,165,108 2,196,314 5,361,422 Losses carried forward 22,783,934 9,167,847 31,951,781 Convertible loan 1,950,507 5,201,602 7,152,109 Lease liabilities 1,224,274 (95,664 ) 1,128,610 Government grant liability 48,926 47,118 96,044 Deferred income grants 9,950 110,623 120,573 Other debt discount 501,215 13,723 514,938 Total deferred tax assets 30,136,323 16,929,076 47,065,399 Property and equipment (110,294 ) (141,568 ) (251,862 ) Intangible assets (5,573,931 ) (5,961,374 ) (11,535,305 ) Right-of-use assets (1,167,707 ) 125,883 (1,041,824 ) Debt discount-Grant/warrants (1,552,468 ) (1,163,885 ) (2,716,353 ) Grant receivable (854,888 ) 854,888 — Total deferred tax liabilities (9,259,288 ) (6,286,056 ) (15,545,344 ) Net deferred tax assets (liabilities) 20,877,035 10,643,020 31,520,055 Unrecognized net deferred tax assets (20,877,035 ) (10,643,020 ) (31,520,055 ) Recognized net deferred tax (liabilities) — — — |
Schedule of Expiry of Operating Losses | As at September 30, 2023, the year of expiry of operating losses in the consolidated statement of financial position are as follows, presented by tax jurisdiction: Canada Year of expiry Federal Quebec USA Israel 2026 18,516 — — — 2027 175,149 160,253 — — 2028 896,504 872,674 — — 2029 2,101,838 2,077,374 — — 2030 1,365,399 1,311,824 — — 2031 2,303,130 2,280,459 — — 2032 1,375,780 1,306,718 — — 2033 3,482,936 3,482,936 — — 2034 3,266,503 3,275,941 — — 2035 3,408,474 3,444,648 — — 2036 885,475 885,963 — — 2037 — — — — 2038 15,542,450 15,638,499 — — 2039 22,974,686 22,727,051 — — 2040 28,727,803 28,444,120 — — 2041 33,860,655 33,548,568 — — 2042 29,975,342 29,600,226 — — 2043 39,538,267 39,718,809 — — Indefinite — — 657,789 33,393,753 189,898,907 188,776,063 657,789 33,393,753 |
Schedule of R&D Tax Credits Accumulated | As at September 30, 2023, the R&D tax credits accumulated, for which no tax credits receivable were recognized, that will be deductible against income taxes payable in the consolidated statement of financial position as well as their respective year of expiry, are as follows: Years of investment tax credits Federal Year of 2008 1,232 2025 2009 1,562 2026 2009 1,257 2027 2010 18,655 2028 2011 9,843 2029 2012 7,069 2030 2016 9,718 2034 2017 — 2032 2017 51,182 2036 2017 25,029 2037 2018 480,243 2038 2019 1,134,507 2039 2020 1,389,834 2040 2021 1,243,043 2041 2022 1,359,218 2042 2023 449,056 2043 6,181,448 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Related party transactions [Abstract] | |
Schedule of Compensation Awarded to Key Management | Compensation awarded to key management include the following: Year ended September 30, 2023 2022 2021 Salaries and short-term employee benefits 1,883,078 2,050,590 1,181,382 Stock-based compensation 850,271 1,134,006 2,628,320 2,733,349 3,184,596 3,809,702 |
Schedule of Transactions with Related Parties | Transactions with related parties Year ended September 30, Entity with significant influence over the Company 2023 2022 2021 Consolidated statement of loss Revenue – Services and products — — 115,698 Purchases – Cost of sales — — 6,540 Loss (gain) on revaluation of convertible loans — (704,912 ) 2,062,165 |
Capital Management (Tables)
Capital Management (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Capital Management [Abstract] | |
Schedule of Policies and Processes for Managing Capital | No changes were made to the objectives, policies and processes for managing capital during the years ended September 30, 2023 and 2022. The total capital is calculated as follows: As restated As at September 30, 2023 2022 Credit facility (28,747,705 ) (30,000,000 ) Term loan (7,718,928 ) (10,034,513 ) Convertible notes (11,258,950 ) — Other loan — (1,582,780 ) Redeemable stock options (6,102,496 ) (6,102,496 ) Government grant liabilities (1,468,296 ) (1,409,694 ) Contingent consideration payable — — Less: cash 5,056,040 32,025,899 Net debt (50,240,335 ) (17,103,584 ) Equity (deficiency) attributable to owners of the capital stock of the parent 7,111,792 33,159,327 (43,632,367 ) 16,055,743 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Financial Instruments [Abstract] | |
Schedule of Financial Instruments Carrying Amount | The classification of financial instruments as well as their carrying amounts are presented in the table below: September 30, 2023 Amortized FVTPL Total Financial assets Cash 5,056,040 — 5,056,040 Accounts receivable (1) 2,281,915 — 2,281,915 Current financial assets 7,337,955 — 7,337,955 Financial liabilities Accounts payable and accrued liabilities (2) 12,466,676 — 12,466,676 Credit facility 28,747,705 — 28,747,705 Term loan 7,718,928 — 7,718,928 Convertible notes 11,258,950 — 11,258,950 Conversion option — 737,974 737,974 Government grant liabilities 1,468,296 — 1,468,296 Total 61,660,555 737,974 62,398,529 Current 13,035,483 737,974 13,773,457 Non-current 48,625,072 — 48,625,072 September 30, 2022 Amortized FVTPL Total Financial assets Cash 32,025,899 — 32,025,899 Accounts receivable (1) 3,093,031 — 3,093,031 Call option — Nil — Current financial assets 35,118,930 — 35,118,930 Financial liabilities Accounts payable and accrued liabilities (2) 10,676,846 — 10,676,846 Credit facility 30,000,000 — 30,000,000 Term loan 10,034,513 — 10,034,513 Government grant liabilities (restated – note 2) 1,409,694 — 1,409,694 Other loan 1,582,780 — 1,582,780 Total (restated – note 2) 53,703,833 — 53,703,833 Current 41,019,521 — 41,019,521 Non-current 12,684,312 — 12,684,312 (1) (2) |
Schedule of Financial Assets and Liabilities Measured at Fair Value | The following table provides the fair value measurement hierarchy of the Company’s long -term September 30, 2023 Quoted Significant Significant Total Assets measured at fair value Call option — — Nil — September 30, 2022 Quoted Significant Significant Total Assets measured at fair value Call option — — Nil — |
Schedule of Financial Liabilities | The following table summarizes the maturity profile of the Company’s financial liabilities based on contractual undiscounted payments: September 30, 2023 Less than 1 to 5 years More than Total Accounts payable and accrued liabilities 12,466,676 — — 12,466,676 Redeemable stock options — 6,102,496 — 6,102,496 Credit facility 4,766,345 38,568,461 — 43,334,806 Convertible loan — 39,610,854 — 39,610,854 Term loan — 21,317,876 13,412,208 34,730,084 Government grant liabilities 568,807 1,209,857 — 1,778,664 Total 17,801,828 106,809,544 13,412,208 138,023,580 September 30, 2022 Less than 1 to 5 years More than Total Accounts payable and accrued liabilities 10,676,846 — — 10,676,846 Redeemable stock options — 6,102,496 — 6,102,496 Credit facility 32,528,750 — — 32,528,750 Term loan — 9,631,293 9,631,293 19,262,586 Government grant liabilities (restated – note 2) — 1,409,694 — 1,409,694 Other loan 342,675 1,370,700 1,370,700 3,084,075 Total (restated – note 2) 43,548,271 18,514,183 11,001,993 73,064,447 |
Schedule of Net Loss Affected Through Impact on Floating Rate Borrowings | With all other variables held constant, the Company’s net loss is affected through the impact on floating rate borrowings, as follows: Increase/ decrease in Effect on Credit facility, convertible notes and term loan +200 1,580,146 -200 (1,580,146 ) Government grant liability +200 31,713 -200 (30,148 ) |
Schedule of Financial Instrument Increase (Decrease) of Net Loss | If these variations were to occur, the impact of +5% appreciation of the USD, EUR and NIS currencies on the Company’s consolidated net loss and deficit for financial instruments held would be an increase (decrease) of net loss and deficit as follows: Change Year ended September 30, 2023 2022 USD +5 % 592,954 (828,626 ) EUR (10,296 ) (6,033 ) NIS (As restated) 171,980 167,434 |
Commitments (Tables)
Commitments (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Commitments [Abstract] | |
Schedule of Minimum Commitments Remaining under these Agreements | As at September 30, 2023, minimum commitments remaining under these agreements over the following years are as follows: Total 2024 2025 2026 License 127,412 122,422 4,990 — Telecommunications 114,259 100,949 13,310 — 241,671 223,371 18,300 — |
Subsequent Events (Tables)
Subsequent Events (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Subsequent Events [Abstract] | |
Schedule of Fair Value of the Elements Transactions | The following table reconciles the fair value of elements of the Transactions: Fair value of consideration transferred 8,770,982 common shares 55,257,187 2,031,250 Class A non-voting special shares 10,115,625 65,372,812 Fair value of assets acquired and liabilities assumed Cash 19,477,645 Accounts payable and accrued liabilities (11,497,830 ) Warrant liability (1) (1,746,575 ) 6,233,240 Listing expense 59,139,572 (1) |
Nature of Operations and Goin_2
Nature of Operations and Going Concern Uncertainty (Details) - CAD ($) | 12 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Nature of Operations and Going Concern Uncertainty [Abstract] | ||||
Accumulated deficit | $ (480,333,695) | $ (432,341,598) | ||
Net loss | (51,424,409) | (73,418,745) | $ (48,856,993) | |
Operating activities | (36,651,124) | (38,126,897) | (20,789,347) | |
Investing activities | (11,172,500) | (12,000,742) | (16,505,990) | |
Cash balance | 5,056,040 | $ 32,025,899 | $ 6,200,316 | $ 1,756,985 |
Outstanding credit facility | $ 30,000,000 | |||
Maturity date | Jan. 31, 2026 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details) - CAD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Summary of Significant Accounting Policies (Details) [Line Items] | |||
Liability, discount rate | 30.30% | ||
Interest expenses | $ 4,984 | $ 29,942 | |
Foreign exchange loss | 50,915 | $ 2,643 | |
Intangible assets , estimated life | 20 years | ||
Canadian Employees [Member] | |||
Summary of Significant Accounting Policies (Details) [Line Items] | |||
Employee contribution | $ 283,545 | 400,658 | |
Israeli Subsidiary [Member] | |||
Summary of Significant Accounting Policies (Details) [Line Items] | |||
Employee contribution | $ 1,057,881 | $ 1,101,890 | |
Constructive Obligation [Member] | |||
Summary of Significant Accounting Policies (Details) [Line Items] | |||
Contribution amount percentage | 3% | ||
Severance Pay [Member] | |||
Summary of Significant Accounting Policies (Details) [Line Items] | |||
Contribution amount percentage | 8.33% | ||
Pension Component [Member] | |||
Summary of Significant Accounting Policies (Details) [Line Items] | |||
Contribution amount percentage | 6.50% |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details) - Schedule of Consolidated Statements of Financial Position | Sep. 30, 2022 CAD ($) |
As previously reported [Member] | |
Assets | |
Government assistance and research and development tax credits receivable | $ 2,845,728 |
Intangible assets, net | 34,798,844 |
Goodwill | 7,416,126 |
Liabilities | |
Accounts payable and accrued liabilities | 10,652,362 |
Government grant liabilities | 979,105 |
Shareholders’ equity (deficiency) | |
Deficit | (431,492,229) |
Non-controlling interests | (5,561,151) |
Adjustments Government grant liability [Member] | |
Assets | |
Government assistance and research and development tax credits receivable | (287,058) |
Intangible assets, net | (137,173) |
Goodwill | |
Liabilities | |
Accounts payable and accrued liabilities | |
Government grant liabilities | 430,589 |
Shareholders’ equity (deficiency) | |
Deficit | (514,887) |
Non-controlling interests | (339,933) |
Adjustments Development costs [Member] | |
Assets | |
Government assistance and research and development tax credits receivable | |
Intangible assets, net | 99,518 |
Goodwill | |
Liabilities | |
Accounts payable and accrued liabilities | |
Government grant liabilities | |
Shareholders’ equity (deficiency) | |
Deficit | 99,518 |
Non-controlling interests | |
Adjustments Others [Member] | |
Assets | |
Government assistance and research and development tax credits receivable | |
Intangible assets, net | |
Goodwill | (98,000) |
Liabilities | |
Accounts payable and accrued liabilities | 336,000 |
Government grant liabilities | |
Shareholders’ equity (deficiency) | |
Deficit | (434,000) |
Non-controlling interests | |
Adjustments Total [Member] | |
Assets | |
Government assistance and research and development tax credits receivable | (287,058) |
Intangible assets, net | (37,655) |
Goodwill | (98,000) |
Liabilities | |
Accounts payable and accrued liabilities | 336,000 |
Government grant liabilities | 430,589 |
Shareholders’ equity (deficiency) | |
Deficit | (849,369) |
Non-controlling interests | (339,933) |
As restated [Member] | |
Assets | |
Government assistance and research and development tax credits receivable | 2,558,670 |
Intangible assets, net | 34,761,189 |
Goodwill | 7,318,126 |
Liabilities | |
Accounts payable and accrued liabilities | 10,988,362 |
Government grant liabilities | 1,409,694 |
Shareholders’ equity (deficiency) | |
Deficit | (432,341,598) |
Non-controlling interests | $ (5,901,084) |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies (Details) - Schedule of Consolidated Statements of Loss - CAD ($) | 12 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | |||
As previously reported [Member] | ||||
Summary of Significant Accounting Policies (Details) - Schedule of Consolidated Statements of Loss [Line Items] | ||||
Cost of sales | $ 5,241,718 | $ 5,261,390 | ||
General and administrative expenses | 15,358,226 | 11,700,922 | ||
Research and development costs | 21,673,205 | 10,206,764 | ||
Finance costs, net | (9,945,296) | [1] | 11,694,852 | [2] |
Net loss and comprehensive loss | (72,864,057) | (47,598,378) | ||
Net loss attributable to the equity holder of the parent | (68,943,994) | (45,860,522) | ||
Net loss attributable to non-controlling interests | $ (3,920,063) | $ (1,737,856) | ||
Net loss per common share, basic attributable to the equity holder of the parent (in Dollars per share) | $ (511.03) | $ (706.13) | ||
Adjustments Government grant liability [Member] | ||||
Summary of Significant Accounting Policies (Details) - Schedule of Consolidated Statements of Loss [Line Items] | ||||
Cost of sales | ||||
General and administrative expenses | ||||
Research and development costs | 403,656 | 397,607 | ||
Finance costs, net | 50,915 | [1] | 2,643 | [2] |
Net loss and comprehensive loss | (454,571) | (400,249) | ||
Net loss attributable to the equity holder of the parent | (274,737) | (240,150) | ||
Net loss attributable to non-controlling interests | $ (179,834) | $ (160,099) | ||
Net loss per common share, basic attributable to the equity holder of the parent (in Dollars per share) | ||||
Adjustments Development costs [Member] | ||||
Summary of Significant Accounting Policies (Details) - Schedule of Consolidated Statements of Loss [Line Items] | ||||
Cost of sales | ||||
General and administrative expenses | 95,000 | |||
Research and development costs | 32,050 | 571,367 | ||
Finance costs, net | (140,000) | [1] | 112,066 | [2] |
Net loss and comprehensive loss | 107,950 | (778,433) | ||
Net loss attributable to the equity holder of the parent | 107,950 | (778,433) | ||
Net loss attributable to non-controlling interests | ||||
Net loss per common share, basic attributable to the equity holder of the parent (in Dollars per share) | ||||
Adjustments Others [Member] | ||||
Summary of Significant Accounting Policies (Details) - Schedule of Consolidated Statements of Loss [Line Items] | ||||
Cost of sales | $ 69,000 | $ (3,000) | ||
General and administrative expenses | 190,067 | 145,933 | ||
Research and development costs | (51,000) | 51,000 | ||
Finance costs, net | [1] | (114,000) | [2] | |
Net loss and comprehensive loss | (208,067) | (79,933) | ||
Net loss attributable to the equity holder of the parent | (208,067) | (79,933) | ||
Net loss attributable to non-controlling interests | ||||
Net loss per common share, basic attributable to the equity holder of the parent (in Dollars per share) | ||||
Adjustments Total [Member] | ||||
Summary of Significant Accounting Policies (Details) - Schedule of Consolidated Statements of Loss [Line Items] | ||||
Cost of sales | $ 69,000 | $ (3,000) | ||
General and administrative expenses | 190,067 | 240,933 | ||
Research and development costs | 384,706 | 1,019,974 | ||
Finance costs, net | (89,085) | [1] | 709 | [2] |
Net loss and comprehensive loss | (554,688) | (1,258,615) | ||
Net loss attributable to the equity holder of the parent | (374,854) | (1,098,516) | ||
Net loss attributable to non-controlling interests | $ (179,834) | $ (160,099) | ||
Net loss per common share, basic attributable to the equity holder of the parent (in Dollars per share) | $ (2.78) | $ (16.91) | ||
As restated [Member] | ||||
Summary of Significant Accounting Policies (Details) - Schedule of Consolidated Statements of Loss [Line Items] | ||||
Cost of sales | $ 5,310,718 | $ 5,258,390 | ||
General and administrative expenses | 15,548,293 | 11,941,855 | ||
Research and development costs | 22,057,911 | 11,226,737 | ||
Finance costs, net | (10,034,381) | [1] | 11,695,561 | [2] |
Net loss and comprehensive loss | (73,418,745) | (48,856,993) | ||
Net loss attributable to the equity holder of the parent | (69,318,848) | (46,959,038) | ||
Net loss attributable to non-controlling interests | $ (4,099,897) | $ (1,897,955) | ||
Net loss per common share, basic attributable to the equity holder of the parent (in Dollars per share) | $ (513.8) | $ (723.05) | ||
[1]The adjustments to finance costs, net, resulted for fiscal year ended September 30, 2022, in an increase of accretion of government grant liability interest expenses of $4,984 and foreign exchange loss of $50,915.[2]The adjustments to finance costs, net, resulted for fiscal year ended September 30, 2021, in an increase of accretion of government grant liability interest expenses of $29,942 and foreign exchange loss of $2,643. |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies (Details) - Schedule of Consolidated Statements of Loss (Parentheticals) - $ / shares | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
As previously reported [Member] | ||
Summary of Significant Accounting Policies (Details) - Schedule of Consolidated Statements of Loss (Parentheticals) [Line Items] | ||
Net loss per common share, diluted, attributable to the equity holder of the parent (in Dollars per share) | $ (511.03) | $ (706.13) |
Adjustments Government grant liability [Member] | ||
Summary of Significant Accounting Policies (Details) - Schedule of Consolidated Statements of Loss (Parentheticals) [Line Items] | ||
Net loss per common share, diluted, attributable to the equity holder of the parent (in Dollars per share) | ||
Adjustments Development costs [Member] | ||
Summary of Significant Accounting Policies (Details) - Schedule of Consolidated Statements of Loss (Parentheticals) [Line Items] | ||
Net loss per common share, diluted, attributable to the equity holder of the parent (in Dollars per share) | ||
Adjustments Others [Member] | ||
Summary of Significant Accounting Policies (Details) - Schedule of Consolidated Statements of Loss (Parentheticals) [Line Items] | ||
Net loss per common share, diluted, attributable to the equity holder of the parent (in Dollars per share) | ||
Adjustments Total [Member] | ||
Summary of Significant Accounting Policies (Details) - Schedule of Consolidated Statements of Loss (Parentheticals) [Line Items] | ||
Net loss per common share, diluted, attributable to the equity holder of the parent (in Dollars per share) | (2.78) | (16.91) |
As restated [Member] | ||
Summary of Significant Accounting Policies (Details) - Schedule of Consolidated Statements of Loss (Parentheticals) [Line Items] | ||
Net loss per common share, diluted, attributable to the equity holder of the parent (in Dollars per share) | $ (513.80) | $ (723.05) |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies (Details) - Schedule of Consolidated Statements of Cash Flows - CAD ($) | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Previously Reported [Member] | ||
Operating activities | ||
Loss before income taxes | $ (72,864,057) | |
Net loss | (72,864,057) | $ (47,598,378) |
Amortization of intangible assets | 308,064 | 412,784 |
Finance costs, net | (7,236,716) | 11,549,151 |
Other costs | 145,933 | |
Foreign exchange gain | (1,807,450) | (101,939) |
Net change in non-cash working capital items | (1,016,971) | 2,755,712 |
Net cash flows related to operating activities | (37,911,354) | (20,472,490) |
Investing Activities | ||
Grants received related to intangible assets and property and equipment | 949,609 | 515,588 |
Net cash flows related to investing activities | (12,037,428) | (16,631,435) |
Financing activities | ||
Government grant liability issuance | ||
Net cash flows related to financing activities | 73,768,733 | 41,547,256 |
Adjustments [Member] | ||
Operating activities | ||
Loss before income taxes | (554,688) | |
Net loss | (1,258,615) | |
Amortization of intangible assets | (51,000) | 51,000 |
Finance costs, net | (140,000) | (1,934) |
Other costs | (145,933) | 145,933 |
Foreign exchange gain | 50,915 | 2,643 |
Net change in non-cash working capital items | 625,163 | 744,116 |
Net cash flows related to operating activities | (215,543) | (316,857) |
Investing Activities | ||
Grants received related to intangible assets and property and equipment | 36,686 | 125,445 |
Net cash flows related to investing activities | 36,686 | 125,445 |
Financing activities | ||
Government grant liability issuance | 178,857 | 191,412 |
Net cash flows related to financing activities | 178,857 | 191,412 |
As Restated [Member] | ||
Operating activities | ||
Loss before income taxes | (73,418,745) | |
Net loss | (73,418,745) | (48,856,993) |
Amortization of intangible assets | 257,064 | 463,784 |
Finance costs, net | (7,376,716) | 11,547,217 |
Other costs | 145,933 | |
Foreign exchange gain | (1,756,535) | (99,296) |
Net change in non-cash working capital items | (391,808) | 3,499,828 |
Net cash flows related to operating activities | (38,126,897) | (20,789,347) |
Investing Activities | ||
Grants received related to intangible assets and property and equipment | 986,295 | 641,033 |
Net cash flows related to investing activities | (12,000,742) | (16,505,990) |
Financing activities | ||
Government grant liability issuance | 178,857 | 191,412 |
Net cash flows related to financing activities | $ 73,947,590 | $ 41,738,668 |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies (Details) - Schedule of Company’s Subsidiaries | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
LeddarTech USA Inc [Member] | ||
Summary of Significant Accounting Policies (Details) - Schedule of Company’s Subsidiaries [Line Items] | ||
Place of incorporation and operation | U.S. | |
Proportion of ownership interest held by the Company | 100% | 100% |
LeddarTech (Shenzhen) Sensing Technology Co., Ltd [Member] | ||
Summary of Significant Accounting Policies (Details) - Schedule of Company’s Subsidiaries [Line Items] | ||
Place of incorporation and operation | China | |
Proportion of ownership interest held by the Company | 100% | 100% |
Vayavision Sensing, Ltd. (“Vayavision”) [Member] | ||
Summary of Significant Accounting Policies (Details) - Schedule of Company’s Subsidiaries [Line Items] | ||
Place of incorporation and operation | Israel | |
Proportion of ownership interest held by the Company | 60% | 60% |
LeddarTech Germany GmbH [Member] | ||
Summary of Significant Accounting Policies (Details) - Schedule of Company’s Subsidiaries [Line Items] | ||
Place of incorporation and operation | Germany | |
Proportion of ownership interest held by the Company | 100% | 100% |
LeddarTech Holdings Inc. [Member] | ||
Summary of Significant Accounting Policies (Details) - Schedule of Company’s Subsidiaries [Line Items] | ||
Place of incorporation and operation | Canada | |
Proportion of ownership interest held by the Company | 100% |
Summary of Significant Accoun_9
Summary of Significant Accounting Policies (Details) - Schedule of Assets' Estimated Useful Lives | 12 Months Ended |
Sep. 30, 2023 | |
Computer equipment [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of Assets' Estimated Useful Lives [Line Items] | |
Assets estimated useful lives | 3 years |
Office furniture and equipment [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of Assets' Estimated Useful Lives [Line Items] | |
Assets estimated useful lives | 5 years |
R&D equipment and tools [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of Assets' Estimated Useful Lives [Line Items] | |
Assets estimated useful lives | 5 years |
Stands and moulds [Member] | Minimum [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of Assets' Estimated Useful Lives [Line Items] | |
Assets estimated useful lives | 4 years |
Stands and moulds [Member] | Maximum [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of Assets' Estimated Useful Lives [Line Items] | |
Assets estimated useful lives | 10 years |
Leasehold improvements [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of Assets' Estimated Useful Lives [Line Items] | |
Assets estimated useful lives | Term of lease |
Vehicles [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of Assets' Estimated Useful Lives [Line Items] | |
Assets estimated useful lives | 5 years |
Office premises [Member] | Minimum [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of Assets' Estimated Useful Lives [Line Items] | |
Assets estimated useful lives | 3 years |
Office premises [Member] | Maximum [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of Assets' Estimated Useful Lives [Line Items] | |
Assets estimated useful lives | 15 years |
Other equipment [Member] | Minimum [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of Assets' Estimated Useful Lives [Line Items] | |
Assets estimated useful lives | 3 years |
Other equipment [Member] | Maximum [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of Assets' Estimated Useful Lives [Line Items] | |
Assets estimated useful lives | 5 years |
Summary of Significant Accou_10
Summary of Significant Accounting Policies (Details) - Schedule of Straight-Line Method Over the Assets’ Estimated Useful Lives | 12 Months Ended | |
Sep. 30, 2023 | ||
Patents [Member] | ||
Summary of Significant Accounting Policies (Details) - Schedule of Straight-Line Method Over the Assets’ Estimated Useful Lives [Line Items] | ||
Estimated useful lives, description | Life of the patent | |
Patents [Member] | Bottom of range [member] | ||
Summary of Significant Accounting Policies (Details) - Schedule of Straight-Line Method Over the Assets’ Estimated Useful Lives [Line Items] | ||
Estimated useful lives, description | Life of the patent | |
Licenses [Member] | ||
Summary of Significant Accounting Policies (Details) - Schedule of Straight-Line Method Over the Assets’ Estimated Useful Lives [Line Items] | ||
Estimated useful lives | 10 years | |
Licenses [Member] | Bottom of range [member] | ||
Summary of Significant Accounting Policies (Details) - Schedule of Straight-Line Method Over the Assets’ Estimated Useful Lives [Line Items] | ||
Estimated useful lives | 18 years | |
Software [Member] | ||
Summary of Significant Accounting Policies (Details) - Schedule of Straight-Line Method Over the Assets’ Estimated Useful Lives [Line Items] | ||
Estimated useful lives | 3 years | |
Software [Member] | Bottom of range [member] | ||
Summary of Significant Accounting Policies (Details) - Schedule of Straight-Line Method Over the Assets’ Estimated Useful Lives [Line Items] | ||
Estimated useful lives | 3 years | |
Others [Member] | ||
Summary of Significant Accounting Policies (Details) - Schedule of Straight-Line Method Over the Assets’ Estimated Useful Lives [Line Items] | ||
Estimated useful lives | 10 years | |
Others [Member] | Bottom of range [member] | ||
Summary of Significant Accounting Policies (Details) - Schedule of Straight-Line Method Over the Assets’ Estimated Useful Lives [Line Items] | ||
Estimated useful lives | 10 years | |
Development costs [Member] | ||
Summary of Significant Accounting Policies (Details) - Schedule of Straight-Line Method Over the Assets’ Estimated Useful Lives [Line Items] | ||
Estimated useful lives, description | (1) | |
Development costs [Member] | Bottom of range [member] | ||
Summary of Significant Accounting Policies (Details) - Schedule of Straight-Line Method Over the Assets’ Estimated Useful Lives [Line Items] | ||
Estimated useful lives, description | (1) | |
Development costs [Member] | Top of range [member] | ||
Summary of Significant Accounting Policies (Details) - Schedule of Straight-Line Method Over the Assets’ Estimated Useful Lives [Line Items] | ||
Estimated useful lives, description | Period of expected future sales from the related project | [1] |
[1]Amortization of the asset begins when development is completed, and the asset is available for use. |
Restructuring Costs and Others
Restructuring Costs and Others (Details) - CAD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Restructuring Costs and Others [Abstract] | |||
Restructuring costs | $ 1,756,433 | ||
Impaired cost | $ 4,300,000 | ||
Inventories write-down | 2,299,866 | ||
Contract loss | $ 1,365,195 |
Segments (Details)
Segments (Details) - Two Customers [Member] | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Top of range [member] | ||
Segments (Details) [Line Items] | ||
Revenue percentage | 34% | 34% |
Bottom of range [member] | ||
Segments (Details) [Line Items] | ||
Revenue percentage | 31% | 8% |
Segments (Details) - Schedule o
Segments (Details) - Schedule of Revenue - CAD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Segments (Details) - Schedule of Revenue [Line Items] | |||
Total Revenue | $ 7,447,177 | $ 8,766,121 | $ 8,231,326 |
United States [Member] | |||
Segments (Details) - Schedule of Revenue [Line Items] | |||
Total Revenue | 2,863,154 | 4,609,147 | 2,909,415 |
France [Member] | |||
Segments (Details) - Schedule of Revenue [Line Items] | |||
Total Revenue | 2,433,571 | 775,891 | 1,606,589 |
South Korea [Member] | |||
Segments (Details) - Schedule of Revenue [Line Items] | |||
Total Revenue | 744,466 | 502,461 | 787,026 |
Hong Kong [Member] | |||
Segments (Details) - Schedule of Revenue [Line Items] | |||
Total Revenue | 646,696 | 296,838 | 195,038 |
Germany [Member] | |||
Segments (Details) - Schedule of Revenue [Line Items] | |||
Total Revenue | 182,351 | 266,662 | 293,104 |
Canada [Member] | |||
Segments (Details) - Schedule of Revenue [Line Items] | |||
Total Revenue | 131,675 | 709,172 | 425,521 |
Japan [Member] | |||
Segments (Details) - Schedule of Revenue [Line Items] | |||
Total Revenue | 124,384 | 263,752 | 182,840 |
Poland [Member] | |||
Segments (Details) - Schedule of Revenue [Line Items] | |||
Total Revenue | 116,810 | ||
Columbia [Member] | |||
Segments (Details) - Schedule of Revenue [Line Items] | |||
Total Revenue | 54,767 | ||
United Kingdom [Member] | |||
Segments (Details) - Schedule of Revenue [Line Items] | |||
Total Revenue | 300,211 | 612,456 | |
Italy [Member] | |||
Segments (Details) - Schedule of Revenue [Line Items] | |||
Total Revenue | 171,237 | ||
Turkey [Member] | |||
Segments (Details) - Schedule of Revenue [Line Items] | |||
Total Revenue | 156,420 | 505,189 | |
China [Member] | |||
Segments (Details) - Schedule of Revenue [Line Items] | |||
Total Revenue | 125,441 | ||
New Zealand [Member] | |||
Segments (Details) - Schedule of Revenue [Line Items] | |||
Total Revenue | 71,015 | 158,115 | |
Vietnam [Member] | |||
Segments (Details) - Schedule of Revenue [Line Items] | |||
Total Revenue | 167,436 | ||
Other [Member] | |||
Segments (Details) - Schedule of Revenue [Line Items] | |||
Total Revenue | $ 149,303 | $ 517,874 | $ 388,597 |
Segments (Details) - Schedule_2
Segments (Details) - Schedule of Non-Current Assets - CAD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Segments (Details) - Schedule of Non-Current Assets [Line Items] | ||
Non-current assets | $ 58,168,708 | $ 51,594,698 |
Canada [Member] | ||
Segments (Details) - Schedule of Non-Current Assets [Line Items] | ||
Non-current assets | 20,480,112 | 20,587,675 |
Israel [Member] | ||
Segments (Details) - Schedule of Non-Current Assets [Line Items] | ||
Non-current assets | $ 37,688,596 | $ 31,007,023 |
Revenue (Details) - Schedule of
Revenue (Details) - Schedule of Deferred Revenue - CAD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Schedule of Deferred Revenue [Abstract] | |||
Balance, beginning of year | $ 311,516 | $ 5,845 | $ 100,271 |
Additions to prepayments received in the year | 2,862,150 | 2,178,427 | 2,046,289 |
Customer fulfillments from accrual | (2,069,437) | (1,872,756) | (2,140,715) |
Balance, end of year | $ 1,104,229 | $ 311,516 | $ 5,845 |
Trade Receivable and Other Re_3
Trade Receivable and Other Receivables (Details) - CAD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Trade Receivable and Other Receivables [Abstract] | ||
Bad debt expense | $ 24,466 |
Trade Receivable and Other Re_4
Trade Receivable and Other Receivables (Details) - Schedule of Trade Receivable and Other Receivables - CAD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Trade Receivable and Other Receivables (Details) - Schedule of Trade Receivable and Other Receivables [Line Items] | ||
Trade accounts receivable | $ 1,663,495 | $ 2,483,083 |
Commodity taxes receivable | 1,407,560 | 693,250 |
Others | 618,420 | 609,948 |
Total | $ 3,689,475 | $ 3,786,281 |
Inventories (Details)
Inventories (Details) - CAD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Inventories (Details) [Line Items] | |||
Cost of sales | $ 7,521,845 | $ 5,310,718 | $ 5,258,390 |
Written down value | $ 2,299,866 | 19,859 | $ 17,115 |
As previously reported [Member] | |||
Inventories (Details) [Line Items] | |||
Cost of sales | $ 5,241,718 |
Inventories (Details) - Schedul
Inventories (Details) - Schedule of Inventories - CAD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Schedule of Inventories [Abstract] | ||
Raw materials | $ 942,860 | $ 2,546,853 |
Finished goods | 304,086 | 390,296 |
Total Inventories | $ 1,246,946 | $ 2,937,149 |
Property and Equipment (Details
Property and Equipment (Details) - CAD ($) | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 |
Property and Equipment [Abstract] | |||
Depreciation of related to property and equipment | $ 420,730 | $ 153,151 | $ 288,851 |
Property and Equipment (Detai_2
Property and Equipment (Details) - Schedule of Property and Equipment - CAD ($) | 12 Months Ended | |||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | ||||
Cost | ||||||
Cost, Beginning Balance | $ 9,367,638 | $ 7,194,747 | $ 5,652,741 | |||
Cost, Additions | 188,775 | 2,172,891 | 1,816,867 | |||
Grants (note 23) | (274,861) | |||||
Cost, Disposals | (45,000) | |||||
Cost, Ending Balance | 9,511,413 | 9,367,638 | 7,194,747 | |||
Accumulated depreciation | ||||||
Accumulated depreciation, Beginning Balance | 5,744,629 | 4,142,611 | 2,720,927 | |||
Accumulated depreciation, Depreciation | 1,695,327 | [1] | 1,602,018 | [2] | 1,421,684 | [3] |
Accumulated depreciation, Ending Balance | 7,439,956 | 5,744,629 | 4,142,611 | |||
Net book value | ||||||
Net book value, Ending Balance | 2,071,457 | 3,623,009 | 3,052,136 | |||
Computer equipment [Member] | ||||||
Cost | ||||||
Cost, Beginning Balance | 4,867,724 | 3,706,414 | 2,578,827 | |||
Cost, Additions | 147,799 | 1,161,310 | 1,322,463 | |||
Grants (note 23) | (194,876) | |||||
Cost, Disposals | ||||||
Cost, Ending Balance | 5,015,523 | 4,867,724 | 3,706,414 | |||
Accumulated depreciation | ||||||
Accumulated depreciation, Beginning Balance | 3,376,015 | 2,340,938 | 1,445,903 | |||
Accumulated depreciation, Depreciation | 916,022 | [1] | 1,035,077 | [2] | 895,035 | [3] |
Accumulated depreciation, Ending Balance | 4,292,037 | 3,376,015 | 2,340,938 | |||
Net book value | ||||||
Net book value, Ending Balance | 723,486 | 1,491,709 | 1,365,476 | |||
Office furniture and equipment [Member] | ||||||
Cost | ||||||
Cost, Beginning Balance | 1,108,834 | 1,019,548 | 1,003,451 | |||
Cost, Additions | 89,286 | 18,334 | ||||
Grants (note 23) | (2,237) | |||||
Cost, Disposals | (35,000) | |||||
Cost, Ending Balance | 1,073,834 | 1,108,834 | 1,019,548 | |||
Accumulated depreciation | ||||||
Accumulated depreciation, Beginning Balance | 856,301 | 648,503 | 469,404 | |||
Accumulated depreciation, Depreciation | 104,296 | [1] | 207,798 | [2] | 179,099 | [3] |
Accumulated depreciation, Ending Balance | 960,597 | 856,301 | 648,503 | |||
Net book value | ||||||
Net book value, Ending Balance | 113,237 | 252,533 | 371,045 | |||
R&D equipment and tools [Member] | ||||||
Cost | ||||||
Cost, Beginning Balance | 1,166,561 | 1,057,757 | 905,695 | |||
Cost, Additions | 49,554 | 108,804 | 177,728 | |||
Grants (note 23) | (25,666) | |||||
Cost, Disposals | (10,000) | |||||
Cost, Ending Balance | 1,206,115 | 1,166,561 | 1,057,757 | |||
Accumulated depreciation | ||||||
Accumulated depreciation, Beginning Balance | 657,734 | 501,916 | 316,258 | |||
Accumulated depreciation, Depreciation | 336,380 | [1] | 155,818 | [2] | 185,658 | [3] |
Accumulated depreciation, Ending Balance | 994,114 | 657,734 | 501,916 | |||
Net book value | ||||||
Net book value, Ending Balance | 212,001 | 508,827 | 555,841 | |||
Stands and moulds [Member] | ||||||
Cost | ||||||
Cost, Beginning Balance | 898,697 | 878,553 | 704,565 | |||
Cost, Additions | 20,144 | 213,377 | ||||
Grants (note 23) | (39,389) | |||||
Cost, Disposals | ||||||
Cost, Ending Balance | 898,697 | 898,697 | 878,553 | |||
Accumulated depreciation | ||||||
Accumulated depreciation, Beginning Balance | 497,133 | 438,391 | 367,041 | |||
Accumulated depreciation, Depreciation | 132,598 | [1] | 58,742 | [2] | 71,350 | [3] |
Accumulated depreciation, Ending Balance | 629,731 | 497,133 | 438,391 | |||
Net book value | ||||||
Net book value, Ending Balance | 268,966 | 401,564 | 440,162 | |||
Leasehold improvements [Member] | ||||||
Cost | ||||||
Cost, Beginning Balance | 1,133,617 | 403,070 | 386,641 | |||
Cost, Additions | (8,578) | 730,547 | 17,245 | |||
Grants (note 23) | (816) | |||||
Cost, Disposals | ||||||
Cost, Ending Balance | 1,125,039 | 1,133,617 | 403,070 | |||
Accumulated depreciation | ||||||
Accumulated depreciation, Beginning Balance | 259,710 | 162,541 | 98,345 | |||
Accumulated depreciation, Depreciation | 156,690 | [1] | 97,169 | [2] | 64,196 | [3] |
Accumulated depreciation, Ending Balance | 416,400 | 259,710 | 162,541 | |||
Net book value | ||||||
Net book value, Ending Balance | 708,639 | 873,907 | 240,529 | |||
Vehicles [Member] | ||||||
Cost | ||||||
Cost, Beginning Balance | 192,205 | 129,405 | 73,562 | |||
Cost, Additions | 62,800 | 67,720 | ||||
Grants (note 23) | (11,877) | |||||
Cost, Disposals | ||||||
Cost, Ending Balance | 192,205 | 192,205 | 129,405 | |||
Accumulated depreciation | ||||||
Accumulated depreciation, Beginning Balance | 97,736 | 50,322 | 23,976 | |||
Accumulated depreciation, Depreciation | 49,341 | [1] | 47,414 | [2] | 26,346 | [3] |
Accumulated depreciation, Ending Balance | 147,077 | 97,736 | 50,322 | |||
Net book value | ||||||
Net book value, Ending Balance | $ 45,128 | $ 94,469 | $ 79,083 | |||
[1]Depreciation of $420,730 related to property and equipment is capitalized in development costs as they are used in development projects that are eligible for capitalization.[2]Depreciation of $153,151 related to property and equipment is capitalized in development costs as they are used in development projects that are eligible for capitalization.[3]Depreciation of $288,851 related to property and equipment is capitalized in development costs as they are used in development projects that are eligible for capitalization. |
Property and Equipment (Detai_3
Property and Equipment (Details) - Schedule of Depreciation is Included in the Consolidated Statement of Loss - Property and Equipment [Member] - CAD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Property and Equipment (Details) - Schedule of Depreciation is Included in the Consolidated Statement of Loss [Line Items] | |||
Cost of sales | $ 214,828 | $ 157,819 | $ 142,870 |
Marketing and product management | 1,686 | 624 | 18,338 |
General and administrative expenses | 794,273 | 1,108,835 | 926,354 |
Research and development costs | 263,810 | 181,589 | 45,271 |
Total | $ 1,274,597 | $ 1,448,867 | $ 1,132,833 |
Leases (Details)
Leases (Details) - CAD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Leases [Abstract] | |||
Depreciation expense | $ 362,005 | $ 120,236 | $ 136,000 |
Leases (Details) - Schedule of
Leases (Details) - Schedule of Carrying Amounts of Rights of Use Assets Recognized - CAD ($) | 12 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | ||
Schedule of Carrying Amounts of Rights of Use Assets Recognized [Line Items] | ||||
Balance at beginning | $ 5,892,374 | $ 3,937,107 | $ 4,459,741 | |
Additions | 2,686,444 | 6,951 | ||
Depreciation | [1] | (943,941) | (731,177) | (529,585) |
Balance at ending | 3,180,318 | 5,892,374 | 3,937,107 | |
Lease modification | (958,296) | |||
Reassessment of the right-of-use assets | (888,426) | |||
Lease Liabilities [Member] | ||||
Schedule of Carrying Amounts of Rights of Use Assets Recognized [Line Items] | ||||
Lease modification | (879,689) | |||
Office Premises [Member] | ||||
Schedule of Carrying Amounts of Rights of Use Assets Recognized [Line Items] | ||||
Balance at beginning | 5,881,811 | 3,919,282 | 4,434,654 | |
Additions | 2,686,444 | 6,951 | ||
Depreciation | [1] | (938,071) | (723,915) | (522,323) |
Balance at ending | 3,175,625 | 5,881,811 | 3,919,282 | |
Reassessment of the right-of-use assets | (888,426) | |||
Office Premises [Member] | Lease Liabilities [Member] | ||||
Schedule of Carrying Amounts of Rights of Use Assets Recognized [Line Items] | ||||
Lease modification | (879,689) | |||
Office Equipment [Member] | ||||
Schedule of Carrying Amounts of Rights of Use Assets Recognized [Line Items] | ||||
Balance at beginning | 10,563 | 17,825 | 25,087 | |
Additions | ||||
Depreciation | [1] | (5,870) | (7,262) | (7,262) |
Balance at ending | 4,693 | $ 10,563 | $ 17,825 | |
Reassessment of the right-of-use assets | ||||
[1]Depreciation of $362,005 ($120,236 in 2022 and $136,000 in 2021) related to right -of-use |
Leases (Details) - Schedule o_2
Leases (Details) - Schedule of Carrying Amounts of Lease Liabilities - CAD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Schedule of Carrying Amounts of Lease Liabilities [Abstract] | |||
Balance, beginning of year | $ 6,579,103 | $ 4,264,983 | $ 4,673,283 |
Balance, end of year | 3,781,233 | 6,579,103 | 4,264,983 |
Current | 722,675 | 673,605 | 320,488 |
Non-current | 3,058,558 | 5,905,498 | 3,944,495 |
Additions | 2,686,444 | 6,951 | |
Lease modification | (958,296) | ||
Reassessment of the lease liability | (888,426) | ||
Accretion of interest | 401,229 | 551,291 | 303,390 |
Gain on foreign exchange | (213,333) | (55,852) | |
Lease payments | $ (1,139,044) | $ (867,763) | $ (718,641) |
Leases (Details) - Schedule o_3
Leases (Details) - Schedule of Depreciation of Right of Use Assets - Right-of-use assets [member] - CAD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Schedule of Depreciation of Right of Use Assets [Line Items] | |||
Cost of sales | $ 48,542 | $ 50,071 | $ 43,752 |
Marketing and product management | 5,778 | 11,303 | 24,885 |
Selling expenses | 5,526 | 11,247 | 13,319 |
General and administrative expenses | 455,932 | 237,596 | 53,626 |
Research and development costs | 66,158 | 300,724 | 258,003 |
Depreciation of right-of-use assets | $ 581,936 | $ 610,941 | $ 393,585 |
Leases (Details) - Schedule o_4
Leases (Details) - Schedule of Maturity Analysis of Lease Liabilities Based on Contractual Undiscounted Payments | Dec. 31, 2008 CAD ($) |
Schedule of Maturity Analysis of Lease Liabilities Based on Contractual Undiscounted Payments [Line Items] | |
Contractual undiscounted payments | $ 4,672,351 |
Less than 1 year [Member] | |
Schedule of Maturity Analysis of Lease Liabilities Based on Contractual Undiscounted Payments [Line Items] | |
Contractual undiscounted payments | 1,082,230 |
1 to 5 years [Member] | |
Schedule of Maturity Analysis of Lease Liabilities Based on Contractual Undiscounted Payments [Line Items] | |
Contractual undiscounted payments | 3,490,733 |
More than 5 years [Member] | |
Schedule of Maturity Analysis of Lease Liabilities Based on Contractual Undiscounted Payments [Line Items] | |
Contractual undiscounted payments | $ 99,388 |
Leases (Details) - Schedule o_5
Leases (Details) - Schedule of Amounts Recognized in Net Loss - CAD ($) | 12 Months Ended | |||
Jun. 06, 2023 | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Schedule of Amounts Recognized in Net Loss [Abstract] | ||||
Depreciation expense of right-of-use assets | $ 581,936 | $ 610,941 | $ 393,585 | |
Interest expense on lease liabilities | 401,229 | 551,291 | 303,390 | |
Expense relating to short-term leases | 16,649 | 56,614 | ||
Expense relating to leases of low-value assets | 37,477 | 852 | ||
Variable lease payments | 2,805 | 150,130 | ||
Gain on foreign exchange | $ (1,605,561) | (213,333) | (55,852) | |
Total amounts recognized in net loss | $ 769,832 | $ 1,163,311 | $ 904,571 |
Intangible Assets (Details)
Intangible Assets (Details) - CAD ($) | 12 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | Jun. 06, 2023 | |
Intangible Assets [Line Items] | ||||
Capitalization rate | 17% | |||
Development of amortization costs | $ 43,267,013 | |||
Impairment expense recognized | 5,791,439 | |||
Carrying amount of assets | $ 5,791,439 | |||
Discount rate based on estimated weighted average cost of capital | 33.65% | |||
Development costs | $ 3,703,920 | |||
Related transactions costs | 798,778 | |||
Amortization related to specific license | 224,873 | |||
Capitalization rate | 16% | 21% | ||
Amortization development | 31,560,716 | |||
Assets carrying amount | 7,975,234 | $ 1,424,196 | ||
Recoverable amount | (2,233,781) | |||
Carrying value | (32,466,050) | |||
impairment loss | $ 30,232,269 | |||
Discount interest rate | 27.50% | |||
Development Cost [Member] | ||||
Intangible Assets [Line Items] | ||||
Amortization development | $ 49,695,492 | |||
Automotive Software [Member] | ||||
Intangible Assets [Line Items] | ||||
Impairment expense | $ 38,207,503 | |||
Licenses [Member] | ||||
Intangible Assets [Line Items] | ||||
Components of technology projects | 1,424,196 | |||
Amortization related to specific license | $ 224,873 |
Intangible Assets (Details) - S
Intangible Assets (Details) - Schedule of Intangible Assets - CAD ($) | 12 Months Ended | |||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | ||||
Cost | ||||||
Cost, Beginning balance | $ 75,528,950 | $ 54,915,617 | $ 34,256,724 | |||
Additions | 13,898,252 | 15,345,974 | 17,062,025 | |||
Borrowing costs | 3,898,829 | [1] | 6,994,197 | 6,304,340 | ||
Accumulated amortization and impairment, Begining balance | 40,767,761 | 2,078,321 | 1,389,664 | |||
Amortization | 404,029 | 481,937 | 688,657 | |||
Impairment | 5,791,439 | 38,207,503 | ||||
Write-offs | [2] | (42,418,143) | ||||
Accumulated amortization and impairment, Ending balance | 4,545,086 | 40,767,761 | 2,078,321 | |||
Net book value | 45,838,108 | 34,761,189 | 52,837,296 | |||
R&D tax credits (note 23) | (256,234) | (776,050) | (995,506) | |||
Grants (note 23) | (268,460) | (950,788) | (1,711,966) | |||
Cost, Ending balance | 50,383,194 | 75,528,950 | 54,915,617 | |||
Patents [Member] | ||||||
Cost | ||||||
Cost, Beginning balance | 2,321,660 | 1,966,646 | 1,658,213 | |||
Additions | 1,128,795 | 355,014 | 348,073 | |||
Borrowing costs | [1] | |||||
Accumulated amortization and impairment, Begining balance | 798,878 | 678,067 | 512,852 | |||
Amortization | 260,129 | 120,811 | 165,215 | |||
Impairment | ||||||
Write-offs | [2] | |||||
Accumulated amortization and impairment, Ending balance | 1,059,007 | 798,878 | 678,067 | |||
Net book value | 2,391,448 | 1,522,782 | 1,288,579 | |||
R&D tax credits (note 23) | ||||||
Grants (note 23) | (39,640) | |||||
Cost, Ending balance | 3,450,455 | 2,321,660 | 1,966,646 | |||
Licenses [Member] | ||||||
Cost | ||||||
Cost, Beginning balance | 2,610,533 | 2,595,473 | ||||
Additions | 15,060 | |||||
Borrowing costs | [1] | |||||
Accumulated amortization and impairment, Begining balance | 1,147,272 | 910,756 | ||||
Amortization | 36,489 | 236,516 | ||||
Impairment | 1,424,196 | |||||
Write-offs | [2] | (1,424,196) | ||||
Accumulated amortization and impairment, Ending balance | 1,183,761 | 1,147,272 | 910,756 | |||
Net book value | 2,576 | 1,463,261 | ||||
R&D tax credits (note 23) | ||||||
Grants (note 23) | ||||||
Cost, Ending balance | 1,186,337 | 2,610,533 | 2,595,473 | |||
Software [Member] | ||||||
Cost | ||||||
Cost, Beginning balance | 575,719 | 494,149 | 457,382 | |||
Additions | 44,025 | |||||
Borrowing costs | [1] | |||||
Accumulated amortization and impairment, Begining balance | 476,003 | 399,808 | 269,323 | |||
Amortization | 44,995 | 130,485 | ||||
Impairment | ||||||
Write-offs | [2] | |||||
Accumulated amortization and impairment, Ending balance | 520,998 | 476,003 | 399,808 | |||
Net book value | 54,721 | 94,341 | ||||
R&D tax credits (note 23) | ||||||
Grants (note 23) | (7,258) | |||||
Cost, Ending balance | 575,719 | 575,719 | 494,149 | |||
Development costs [Member] | ||||||
Cost | ||||||
Cost, Beginning balance | 69,926,228 | [3] | 49,764,539 | |||
Additions | 12,769,457 | [3] | 14,894,330 | [4],[5] | ||
Borrowing costs | 3,898,829 | [1],[3] | 6,994,197 | [6] | ||
Accumulated amortization and impairment, Begining balance | 38,278,286 | [3] | 28,374 | |||
Amortization | 56,682 | [3] | 42,409 | |||
Impairment | 4,367,243 | [3] | 38,207,503 | [7] | ||
Write-offs | [2],[3] | (40,993,947) | ||||
Accumulated amortization and impairment, Ending balance | 1,708,264 | [3] | 38,278,286 | [3] | 28,374 | |
Net book value | 43,367,609 | [3] | 31,647,942 | [8] | ||
R&D tax credits (note 23) | (256,234) | [3] | (776,050) | |||
Grants (note 23) | (268,460) | [3] | (950,788) | |||
Cost, Ending balance | 45,075,873 | [3] | 69,926,228 | [3] | 49,764,539 | |
Others [Member] | ||||||
Cost | ||||||
Cost, Beginning balance | 94,810 | 94,810 | 94,810 | |||
Additions | ||||||
Borrowing costs | [1] | |||||
Accumulated amortization and impairment, Begining balance | 67,322 | 61,316 | 54,396 | |||
Amortization | 5,734 | 6,006 | 6,920 | |||
Impairment | ||||||
Write-offs | [2] | |||||
Accumulated amortization and impairment, Ending balance | 73,056 | 67,322 | 61,316 | |||
Net book value | 21,754 | 27,488 | 33,494 | |||
R&D tax credits (note 23) | ||||||
Grants (note 23) | ||||||
Cost, Ending balance | 94,810 | 94,810 | 94,810 | |||
Software [Member] | ||||||
Cost | ||||||
Cost, Beginning balance | 575,719 | 494,149 | ||||
Additions | 81,570 | |||||
Borrowing costs | ||||||
Accumulated amortization and impairment, Begining balance | $ 476,003 | 399,808 | ||||
Amortization | 76,195 | |||||
Impairment | ||||||
Accumulated amortization and impairment, Ending balance | 476,003 | 399,808 | ||||
Net book value | 99,716 | |||||
R&D tax credits (note 23) | ||||||
Grants (note 23) | ||||||
Cost, Ending balance | 575,719 | 494,149 | ||||
Licences [member] | ||||||
Cost | ||||||
Cost, Beginning balance | 2,595,473 | 2,592,589 | ||||
Additions | 2,884 | |||||
Borrowing costs | ||||||
Accumulated amortization and impairment, Begining balance | 910,756 | 538,907 | ||||
Amortization | [9] | 371,849 | ||||
Accumulated amortization and impairment, Ending balance | 910,756 | |||||
Net book value | 1,684,717 | |||||
R&D tax credits (note 23) | ||||||
Grants (note 23) | ||||||
Cost, Ending balance | 2,595,473 | |||||
Development costs [Member] | ||||||
Cost | ||||||
Cost, Beginning balance | 49,764,539 | 29,453,730 | ||||
Additions | [9] | 16,667,043 | ||||
Borrowing costs | [10] | 6,304,340 | ||||
Accumulated amortization and impairment, Begining balance | $ 28,374 | 14,186 | ||||
Amortization | 14,188 | |||||
Accumulated amortization and impairment, Ending balance | 28,374 | |||||
Net book value | [11] | 49,736,165 | ||||
R&D tax credits (note 23) | (995,506) | |||||
Grants (note 23) | (1,665,068) | |||||
Cost, Ending balance | $ 49,764,539 | |||||
[1]The capitalization rate used to determine the amount of general borrowing costs eligible for capitalization during the year ended September 30, 2023 was 17%.[2]During the fiscal year 2023, an impairment expense amounting to $5,791,439 was recognized : i. During the first quarter of 2023, the Company reviewed its September 30,2022 transition plan resulting in certain development costs and licenses no longer expected to be used. Consequently, certain intangible assets were no longer expected to be used and the test was performed at the asset level. These assets had a carrying amount of $5,791,439 and were completely written-off, resulting in an impairment expense of the same amount, including the license related to the development of Components technology projects for $1,424,196; ii. The Company performs an annual impairment test for its goodwill and intangible assets not yet available through the assessment of the recoverable amount of the CGU to which they belong. The CGU selected for impairment testing was identified based on the level at which goodwill is monitored for internal management purposes, and to which the intangible assets not yet available for use pertain; and The recoverable amount of the CGU is determined based on the higher of its value-in-use and fair value less costs to sell. The value-in-use is calculated using discounted cash flow projections, taking into consideration management’s best estimates of future cash flows, growth rates, and appropriate discount rates. The discount rate of 33.65% is based on an estimated weighted average cost of capital (“WACC”) for the Company, adjusted to reflect the risks related to the projected cash flows of the CGU.[3]Including $43,267,013 not yet available for use for which amortization begins when development is completed, and the asset is available for use. Such development costs are related to projects to develop and enhance the technology and capabilities with respect to autonomous driving and ADAS applications.[4]Amortization of $224,873 related to a specific license is capitalized in development costs as the licensed intellectual property and technology is used in development projects which are eligible for capitalization.[5]The additions to Development costs include an equity -settled IFRS 3, Business Combinations |
Intangible Assets (Details) -_2
Intangible Assets (Details) - Schedule of Amortization in Consolidated Statement of Loss - Intangible Assets [Member] - CAD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Intangible Assets (Details) - Schedule of Amortization in Consolidated Statement of Loss [Line Items] | |||
General and administrative expenses | $ 52,160 | $ 127,764 | $ 207,318 |
Research and development costs | 234,334 | 129,300 | 256,466 |
Amortization of intangible assets | $ 286,494 | $ 257,064 | $ 463,784 |
Accounts Payable and Accrued _3
Accounts Payable and Accrued Liabilities (Details) - Schedule of Accounts Payable and Accrued Liabilities - CAD ($) | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 |
Schedule Of Accounts Payable And Accrued Liabilities [Abstract] | ||||
Trade payables and accrued liabilities | $ 6,466,196 | $ 3,626,462 | ||
Salaries and fringe benefits | 5,757,652 | 6,584,878 | ||
Interest payable on credit facility | 221,247 | 353,014 | ||
Deferred revenue (note 6) | 1,104,229 | 311,516 | $ 5,845 | $ 100,271 |
Others | 21,581 | 112,492 | ||
Total | $ 13,570,905 | $ 10,988,362 |
Provisions (Details) - Schedule
Provisions (Details) - Schedule of Changes in Provisions | 12 Months Ended |
Sep. 30, 2023 CAD ($) | |
Schedule of Changes in Provisions [Abstract] | |
Balance, as at September 30, 2022 | |
Balance, as at September 30, 2023 | 878,144 |
New provisions | 1,652,216 |
Revision of estimations | (287,021) |
Provisions utilized | $ (487,051) |
Long-Term Debt (Details)
Long-Term Debt (Details) | 1 Months Ended | 12 Months Ended | |||||||||||||||
Jun. 13, 2023 CAD ($) shares | Jun. 13, 2023 USD ($) shares | Jun. 12, 2023 USD ($) | Jun. 06, 2023 CAD ($) | Jun. 06, 2023 USD ($) | Jan. 23, 2020 CAD ($) | Aug. 31, 2023 shares | Jul. 31, 2023 CAD ($) shares | Jul. 31, 2023 USD ($) shares | Jun. 30, 2023 shares | Sep. 30, 2023 CAD ($) $ / shares shares | Sep. 30, 2023 USD ($) $ / shares shares | Sep. 30, 2022 CAD ($) | Sep. 30, 2021 CAD ($) $ / shares shares | Sep. 30, 2023 $ / shares | Jul. 31, 2023 USD ($) | Jun. 13, 2023 USD ($) $ / shares | |
Long-Term Debt (Details) [Line Items] | |||||||||||||||||
Aggregate principal amount (in Dollars) | $ 43,000,000 | ||||||||||||||||
Investors paid | $ 28,957,266 | $ 529,047 | $ 340,530 | ||||||||||||||
Interest rate | 12% | 12% | |||||||||||||||
Warrants to purchase an equivalent (in Shares) | shares | 595,650 | 595,650 | |||||||||||||||
Price per share (in Dollars per share) | $ / shares | $ 0.0001 | ||||||||||||||||
Conversion price (in Dollars per share) | $ / shares | $ 10 | ||||||||||||||||
Convertible note (in Dollars) | $ 60,000,000 | ||||||||||||||||
Initial recognition | $ 28,957,266 | ||||||||||||||||
Amortised cost at a carrying value | 7,485,064 | $ 119,998 | |||||||||||||||
Transaction costs | $ 92,583 | ||||||||||||||||
Effective interest rate | 33.90% | 33.90% | 17.60% | 33.90% | 33.90% | ||||||||||||
Initially recognised | $ 528,363 | $ 12,197 | |||||||||||||||
Warrants to acquire (in Shares) | shares | 595,650 | 595,650 | 9,354 | 9,354 | |||||||||||||
Recognised at fair value | $ 13,646,573 | $ 211,285 | |||||||||||||||
Recognised as a reduction | $ 92,583 | ||||||||||||||||
Recognized in net loss | $ 171,940 | ||||||||||||||||
Warrants exercised (in Shares) | shares | 9,354 | 595,650 | |||||||||||||||
Conversion option (in Dollars per share) | $ / shares | $ 1.75 | ||||||||||||||||
Warrants (in Dollars per share) | $ / shares | $ 22.6 | ||||||||||||||||
Contracted a term loan | $ 30,000,000 | ||||||||||||||||
Percentage of bearing interest | 10% | 9% | 9% | ||||||||||||||
New instrument | $ 30,000,000 | ||||||||||||||||
Floating interest rate | 30,000,000 | ||||||||||||||||
Transaction costs | $ (3,506,630) | ||||||||||||||||
Accelerated reimbursement (in Dollars per share) | $ / shares | $ 15,000,000 | ||||||||||||||||
Percentage of net cash proceeds | 25% | 25% | |||||||||||||||
sale of equity securities (in Dollars) | $ 43,000,000 | ||||||||||||||||
Description credit facility | (i) $2.5 million through completion of the Business Combination, (ii) $10 million from completion of the Business Combination through October 31, 2024, (iii) $7.5 million from November 1, 2024 through December 31, 2024, (iv) $5.0 million from January 1, 2025 through September 30, 2025, and (iv) $3.5 million at all times thereafter. As at September 30, this financial covenant was respected. | (i) $2.5 million through completion of the Business Combination, (ii) $10 million from completion of the Business Combination through October 31, 2024, (iii) $7.5 million from November 1, 2024 through December 31, 2024, (iv) $5.0 million from January 1, 2025 through September 30, 2025, and (iv) $3.5 million at all times thereafter. As at September 30, this financial covenant was respected. | |||||||||||||||
Credit facility | $ 30,000,000 | 30,000,000 | |||||||||||||||
Non-interest-bearing loan agreement | $ 19,800,000 | ||||||||||||||||
Percentage of incurred expenses | 26.65% | ||||||||||||||||
Warrant issued (in Shares) | shares | 605,004 | 605,004 | |||||||||||||||
Lender strike price (in Dollars per share) | $ / shares | $ 138.68 | ||||||||||||||||
Percentage of warrant | 10% | ||||||||||||||||
Warrant strike price | $ 19,262,586 | ||||||||||||||||
Derivative warrant liability | $ 670,703 | 670,703 | 670,703 | ||||||||||||||
Interest free loan | 12% | 12% | |||||||||||||||
Existing loan | $ 11,315,767 | ||||||||||||||||
Term loan | $ 6,983,592 | ||||||||||||||||
Discount rate | 33.65% | ||||||||||||||||
carrying value existing loan and the new loan | $ 4,332,175 | ||||||||||||||||
Loans totalling | 6,250,000 | ||||||||||||||||
Related loan | $ 1,739,750 | ||||||||||||||||
Settled | $ 100,000 | ||||||||||||||||
Net gain | 1,605,561 | 213,333 | $ 55,852 | ||||||||||||||
Net carrying amount | 1,424,196 | 7,975,234 | |||||||||||||||
PIPE Investors [Member] | |||||||||||||||||
Long-Term Debt (Details) [Line Items] | |||||||||||||||||
Price per share (in Dollars per share) | $ / shares | $ 0.01 | ||||||||||||||||
PIPE [Member] | |||||||||||||||||
Long-Term Debt (Details) [Line Items] | |||||||||||||||||
Investors paid | $ 449,159 | $ 21,660,000 | |||||||||||||||
Conversion price (in Dollars per share) | $ / shares | $ 10 | ||||||||||||||||
Amortised cost at a carrying value | $ (9,982,830) | 158,277 | |||||||||||||||
Black-Scholes Valuation Model [Member] | |||||||||||||||||
Long-Term Debt (Details) [Line Items] | |||||||||||||||||
Initially recognised | (704,677) | $ 9,247 | |||||||||||||||
Recognised at fair value | $ (18,269,759) | $ 278,685 | |||||||||||||||
Credit facility [Member] | |||||||||||||||||
Long-Term Debt (Details) [Line Items] | |||||||||||||||||
Percentage of bearing interest | 10.50% | ||||||||||||||||
Transaction costs | $ 1,412,286 | ||||||||||||||||
Components Business Unit [Member] | |||||||||||||||||
Long-Term Debt (Details) [Line Items] | |||||||||||||||||
Percentage of net cash proceeds | 100% | 100% | |||||||||||||||
US [Member] | |||||||||||||||||
Long-Term Debt (Details) [Line Items] | |||||||||||||||||
Percentage of bearing interest | 6.05% | ||||||||||||||||
Loan [Member] | |||||||||||||||||
Long-Term Debt (Details) [Line Items] | |||||||||||||||||
Settled | $ 134,189 | ||||||||||||||||
D-1 Preferred Shares [Member] | |||||||||||||||||
Long-Term Debt (Details) [Line Items] | |||||||||||||||||
Warrants to acquire (in Shares) | shares | 595,650 | 595,650 | 9,354 | 9,354 | |||||||||||||
Warrants [Member] | |||||||||||||||||
Long-Term Debt (Details) [Line Items] | |||||||||||||||||
Warrant issued (in Shares) | shares | 13,890 |
Long-Term Debt (Details) - Sche
Long-Term Debt (Details) - Schedule of Maturities and Weighted Average Interest Rates - CAD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Schedule of Maturities and Weighted Average Interest Rates [Line Items] | ||
Convertible loan (a), Final maturity | 2028 years | |
Convertible loan (a), Weighted average effective interest rate | 33.65% | |
Convertible loan (a), Balance | $ 11,258,950 | |
Credit facility (b), Final maturity | 2026 years | |
Credit facility (b), Weighted average effective interest rate | 17.58% | |
Credit facility (b), Balance | $ 28,747,705 | 30,000,000 |
Term loan (c), Final maturity | 2030 years | |
Term loan (c), Weighted average effective interest rate | 33.65% | |
Term loan (c), Balance | $ 7,718,928 | 10,034,513 |
Other loan (e), Final maturity | 2023 years | |
Other loan (e), Weighted average effective interest rate | ||
Other loan (e), Balance | 1,582,780 | |
Long-term debt, Weighted average effective interest rate | 23.96% | |
Long-term debt, Balance | $ 47,725,583 | 41,617,293 |
Current portion of long-term debt, Balance | 30,342,675 | |
Long-term debt, Balance | $ 47,725,583 | $ 11,274,618 |
Long-Term Debt (Details) - Sc_2
Long-Term Debt (Details) - Schedule of Black-Scholes Option Pricing Model | 12 Months Ended |
Sep. 30, 2023 $ / shares | |
Warrants [member] | |
Long-Term Debt (Details) - Schedule of Black-Scholes Option Pricing Model [Line Items] | |
Fair value of the underlying share (in Dollars per share) | $ 1.67 |
Exercise price (in Dollars per share) | $ 10 |
Risk-free interest rate | 4% |
Expected volatility | 60% |
Expected life | 5 years |
Dividend yield | 0% |
Conversion Option [member] | |
Long-Term Debt (Details) - Schedule of Black-Scholes Option Pricing Model [Line Items] | |
Fair value of the underlying share (in Dollars per share) | $ 22.92 |
Exercise price (in Dollars per share) | $ 0.01 |
Risk-free interest rate | 5% |
Expected volatility | 60% |
Expected life | 14 days |
Dividend yield | 0% |
Government Grant Liabilities (D
Government Grant Liabilities (Details) ₪ in Millions | 12 Months Ended | |||||
Sep. 30, 2023 CAD ($) | Sep. 30, 2022 CAD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2021 CAD ($) | Sep. 30, 2023 USD ($) | Sep. 30, 2023 ILS (₪) | |
Government Grant Liabilities (Details) [Line Items] | ||||||
Acquisition of grant total amount | $ 1,500,000 | |||||
Repaid of royalties percentage | 50.10% | 50.10% | 50.10% | |||
Effective interest rate percentage | 30.30% | 30.30% | 30.30% | |||
Accretion loss | $ 74,335 | |||||
Accretion gain | $ 78,567 | |||||
Government grant liability | 568,807 | $ 420,715 | ||||
Research and Development | 12,719,093 | $ 22,057,911 | $ 11,226,737 | |||
Royalty percentage | 5% | 5% | ||||
Binational Industrial Research and Development Foundation [Member] | ||||||
Government Grant Liabilities (Details) [Line Items] | ||||||
Research and Development | $ 430,588 | $ 315,035 | ||||
Israeli Innovation Authority [Member] | ||||||
Government Grant Liabilities (Details) [Line Items] | ||||||
Government grant liability | $ 420,000 | |||||
Acquisition of grant total amount | ₪ | ₪ 4 | |||||
Repaid of royalties percentage | 3% | 3% | 3% |
Government Grant Liabilities _2
Government Grant Liabilities (Details) - Schedule of Government Grant Liabilities - CAD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Schedule of Government Grant Liabilities [Abstract] | |||
Balance, beginning of year | $ 1,409,694 | $ 1,159,487 | $ 420,000 |
Grants received | 178,856 | 191,902 | |
Accretion interest expense | 323,250 | 384,985 | 157,202 |
Loss (gain) on remeasurement due to changes in forecasts | (248,915) | (463,552) | 410,740 |
Foreign exchange loss (gain) | (15,733) | 149,918 | (20,357) |
Balance, end of year | 1,468,296 | 1,409,694 | 1,159,487 |
Current | 568,807 | ||
Non-current | $ 899,489 | $ 1,409,694 | $ 1,159,487 |
Capital Stock (Details)
Capital Stock (Details) | 12 Months Ended | ||||||||||||||
Jul. 30, 2023 CAD ($) $ / shares shares | Jul. 30, 2023 USD ($) $ / shares | Jun. 30, 2023 CAD ($) $ / shares shares | Jun. 30, 2023 USD ($) $ / shares | Jan. 19, 2022 CAD ($) $ / shares shares | Nov. 01, 2021 CAD ($) $ / shares shares | Nov. 01, 2021 CAD ($) $ / shares shares | Sep. 30, 2023 CAD ($) $ / shares shares | Sep. 30, 2023 USD ($) | Sep. 30, 2022 CAD ($) shares | Sep. 30, 2021 CAD ($) shares | Sep. 30, 2023 $ / shares shares | Jul. 30, 2023 $ / shares shares | Jun. 30, 2023 $ / shares shares | Jan. 19, 2022 $ / shares shares | |
Capital Stock (Details) [Line Items] | |||||||||||||||
Percentage of voting rights | 50.10% | 50.10% | |||||||||||||
Cumulative preferential dividend percentage | 5% | 5% | |||||||||||||
Increase in cumulative preferential dividend percentage | 12% | 12% | |||||||||||||
Price per share | $ / shares | $ 0.0001 | ||||||||||||||
Description of liquidation event | (i) a merger, amalgamation, reorganization, recapitalization, consolidation or other transaction, other than a Qualified IPO, involving the Company and any other Person in which the Persons who were shareholders immediately prior to such merger, amalgamation, reorganization, recapitalization, consolidation or other transaction own less than fifty percent (50%) of the shares on an As-Converted Basis of the surviving or continuing entity after such merger, amalgamation, reorganization, recapitalization, consolidation or other transaction; (ii) the sale, exchange or transfer by the shareholders, in a single transaction or series of related transactions, of shares representing not less than fifty percent (50%) of the shares on an As-Converted Basis; (iii) the sale, lease, license, abandonment, transfer or other disposition of all or substantially all the assets of the Company, in a single transaction or related transactions, or the exclusive license of all or substantially all of the Company’s material intellectual property and technology that is approved by the Board and by holders of at least sixty percent (60%) of the outstanding common shares calculated on an As-Converted Basis; or (iv) a dissolution or a voluntary or involuntary winding up or liquidation of the Company or any other distribution, in whole or in part, of the property or assets of the Company to its Shareholders that is approved by the Board and by holders of at least fifty percent (50%) of the outstanding common shares calculated on an As-Converted Basis. Notwithstanding anything to the contrary herein, the following situation would also be considered as a Liquidation Event for the purpose hereof, a transaction or series of related transactions that results in an existing shareholder increasing its ownership of shares to more than fifty percent (50%) of the common shares on an As-Converted Basis | (i) a merger, amalgamation, reorganization, recapitalization, consolidation or other transaction, other than a Qualified IPO, involving the Company and any other Person in which the Persons who were shareholders immediately prior to such merger, amalgamation, reorganization, recapitalization, consolidation or other transaction own less than fifty percent (50%) of the shares on an As-Converted Basis of the surviving or continuing entity after such merger, amalgamation, reorganization, recapitalization, consolidation or other transaction; (ii) the sale, exchange or transfer by the shareholders, in a single transaction or series of related transactions, of shares representing not less than fifty percent (50%) of the shares on an As-Converted Basis; (iii) the sale, lease, license, abandonment, transfer or other disposition of all or substantially all the assets of the Company, in a single transaction or related transactions, or the exclusive license of all or substantially all of the Company’s material intellectual property and technology that is approved by the Board and by holders of at least sixty percent (60%) of the outstanding common shares calculated on an As-Converted Basis; or (iv) a dissolution or a voluntary or involuntary winding up or liquidation of the Company or any other distribution, in whole or in part, of the property or assets of the Company to its Shareholders that is approved by the Board and by holders of at least fifty percent (50%) of the outstanding common shares calculated on an As-Converted Basis. Notwithstanding anything to the contrary herein, the following situation would also be considered as a Liquidation Event for the purpose hereof, a transaction or series of related transactions that results in an existing shareholder increasing its ownership of shares to more than fifty percent (50%) of the common shares on an As-Converted Basis | |||||||||||||
Aggregate pre-money equity value (in Dollars) | $ 900,000,000 | ||||||||||||||
Offering commission and expenses (in Dollars) | $ 50,000,000 | ||||||||||||||
Preferred shares (in Shares) | shares | 167,610 | 167,610 | 124,793 | 167,610 | |||||||||||
Aggregate purchase price amount (in Dollars) | $ 3,703,920 | ||||||||||||||
Share issuance costs incurred amount (in Dollars) | 6,093,492 | $ 18,556,436 | $ 145,235,091 | ||||||||||||
Other long-term assets (in Dollars) | $ 571,116 | $ 571,116 | |||||||||||||
Exercise price | $ 9,221 | $ 25,809 | |||||||||||||
Class D-1 Preferred Shares [Member] | |||||||||||||||
Capital Stock (Details) [Line Items] | |||||||||||||||
Price per share | (per share) | $ 29.81 | $ 30.69 | $ 122.74 | $ 5.5 | $ 22.6 | $ 22.92 | $ 96.72 | ||||||||
Preferred shares (in Shares) | shares | 9,354 | 595,650 | 109,102 | 635,005 | 635,005 | 9,354 | 595,650 | 109,102 | |||||||
Purchase price | (per share) | $ 278,808 | $ 211,379 | $ 18,277,628 | $ 13,652,530 | $ 118.97 | $ 96.72 | |||||||||
Aggregate purchase price amount (in Dollars) | $ 13,390,997 | $ 75,548,925 | |||||||||||||
Share issuance costs incurred amount (in Dollars) | $ 572,245 | ||||||||||||||
Exercise price | $ 123 | $ 94 | $ 7,869 | $ 5,957 | |||||||||||
Class M Series 2017 [Member] | |||||||||||||||
Capital Stock (Details) [Line Items] | |||||||||||||||
Price per share | $ / shares | 45.2 | ||||||||||||||
Class M Series 2020 [Member] | |||||||||||||||
Capital Stock (Details) [Line Items] | |||||||||||||||
Price per share | $ / shares | $ 102.5 |
Capital Stock (Details) - Sched
Capital Stock (Details) - Schedule of Issued and Paid - CAD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Capital Stock (Details) - Schedule of Issued and Paid [Line Items] | ||
Number issued | 6,749,002 | 6,143,998 |
Paid amount | $ 452,246,204 | $ 433,689,768 |
Common shares [Member] | ||
Capital Stock (Details) - Schedule of Issued and Paid [Line Items] | ||
Number issued | 167,610 | 167,610 |
Paid amount | $ 9,894,326 | $ 9,894,326 |
Class A preferred shares [Member] | ||
Capital Stock (Details) - Schedule of Issued and Paid [Line Items] | ||
Number issued | 1,230,291 | 1,230,291 |
Paid amount | $ 79,056,406 | $ 79,056,406 |
Class B preferred shares [Member] | ||
Capital Stock (Details) - Schedule of Issued and Paid [Line Items] | ||
Number issued | 1,296,922 | 1,296,922 |
Paid amount | $ 82,626,031 | $ 82,626,031 |
Class C preferred shares [Member] | ||
Capital Stock (Details) - Schedule of Issued and Paid [Line Items] | ||
Number issued | 2,069,741 | 2,069,741 |
Paid amount | $ 116,877,914 | $ 116,877,914 |
Class D-1 preferred shares [Member] | ||
Capital Stock (Details) - Schedule of Issued and Paid [Line Items] | ||
Number issued | 1,349,111 | 744,107 |
Paid amount | $ 100,830,621 | $ 82,274,185 |
Class D-2 preferred shares [Member] | ||
Capital Stock (Details) - Schedule of Issued and Paid [Line Items] | ||
Number issued | 635,327 | 635,327 |
Paid amount | $ 62,960,906 | $ 62,960,906 |
Capital Stock (Details) - Sch_2
Capital Stock (Details) - Schedule of Common Share Activity - CAD ($) | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2023 | |
Schedule of Common Share Activity [Abstract] | ||
Common shares Beginning | 124,793 | |
Common shares Beginning | $ 7,664,466 | |
Shares issued related to Vayavision acquisition | 42,594 | |
Shares issued related to Vayavision acquisition | $ 2,215,739 | |
Shares issued related to option exercises | 223 | |
Shares issued related to option exercises | $ 14,121 | |
Common shares Ending | 167,610 | |
Common shares Ending | $ 9,894,326 | |
Common shares as at September 30, 2023 | 167,610 | 167,610 |
Common shares as at September 30, 2023 | $ 9,894,326 | $ 9,894,326 |
Warrants (Details)
Warrants (Details) | 12 Months Ended |
Sep. 30, 2023 $ / shares shares | |
Warrants (Details) [Line Items] | |
Warrants issued and exercised | shares | 605,004 |
Weighted average exercise price | $ 30.66 |
Exercise price per warrant | $ 10 |
Warrant exercised | shares | |
Class C Ordinary Shares [Member] | |
Warrants (Details) [Line Items] | |
Exercise price per warrant | $ 138.68 |
Warrants (Details) - Schedule o
Warrants (Details) - Schedule of Warrants Activity - Warrants activity [Member] - $ / shares | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Warrants (Details) - Schedule of Warrants Activity [Line Items] | ||
Number of stock options, Outstanding, beginning of year | 13,890 | 13,890 |
Weighted average exercise price Outstanding, beginning of year | $ 138.68 | $ 138.68 |
Number Issued | 605,004 | |
Weighted average exercise price Issued | $ 30.66 | |
Number Exercised | (605,004) | |
Weighted average exercise price Exercised | $ (30.66) | |
Number of stock options, Outstanding, end of year | 13,890 | 13,890 |
Weighted average exercise price Outstanding, end of year | $ 138.68 | $ 138.68 |
Number of stock options, Exercisable, end of year | 13,890 | 13,890 |
Weighted average exercise price, Exercisable, end of year | $ 138.68 | $ 138.68 |
Other Component of Equity (Deta
Other Component of Equity (Details) | 12 Months Ended | ||||||
May 01, 2023 CAD ($) | May 01, 2023 USD ($) | Jul. 06, 2020 $ / shares | Sep. 30, 2023 CAD ($) $ / shares shares | Sep. 30, 2022 CAD ($) | Sep. 30, 2021 CAD ($) | Sep. 30, 2023 ₪ / shares | |
Other Components of Equity [Line Items] | |||||||
Acquisition controlling interest | 60% | ||||||
Common shares (in Dollars per share) | $ / shares | $ 10.76 | ||||||
Cash based on a price per share | $ / shares | $ 0.0001 | ||||||
Share call and cash call options (in Shares) | shares | 750,000 | ||||||
Fair value of purchase price | $ 2,431,688 | ||||||
Derivative financial asset | |||||||
Fair value call options | |||||||
Fee payable in exchange of a number of common shares (in Dollars) | $ 700,000 | ||||||
Transaction fee was recognized as transaction costs | $ (437,500) | $ 3,515,506 | $ 4,917,057 | $ 10,624,628 | |||
Purchased call options [Member] | |||||||
Other Components of Equity [Line Items] | |||||||
Cash based on a price per share | (per share) | $ 0.026 | ₪ 0.01 | |||||
Put options [Member] | |||||||
Other Components of Equity [Line Items] | |||||||
Acquisition controlling interest | 40% | ||||||
Vayavision Subject [Member] | |||||||
Other Components of Equity [Line Items] | |||||||
Share call and cash call options (in Shares) | shares | 1,021,462 |
Stock-Based Compensation (Detai
Stock-Based Compensation (Details) | 12 Months Ended | |||||
Jul. 06, 2022 shares | Jul. 06, 2020 CAD ($) | Sep. 30, 2023 CAD ($) $ / shares shares | Sep. 30, 2022 CAD ($) $ / shares shares | Sep. 30, 2021 CAD ($) $ / shares shares | Sep. 30, 2020 $ / shares | |
Stock-Based Compensation (Details) [Line Items] | ||||||
Stock-based acceleration expense (in Dollars) | $ | $ 1,316,810 | |||||
Issuance of shares | 167,610 | 167,610 | 124,793 | |||
Weighted average fair value of stock options granted (in Dollars per share) | $ / shares | $ 40.83 | |||||
Common shares vested | 750,000 | |||||
Common shares transaction | 250,000 | |||||
Fair value of the award granted (in Dollars) | $ | $ 7,100,452 | |||||
Stock-based compensation expense. (in Dollars) | $ | $ 1,693,517 | $ 603,051 | ||||
Cumulative stock-based compensation expense | 250,000 | |||||
Reserve stock option (in Dollars) | $ | $ 127,380 | $ 127,380 | ||||
M-Options [Member] | ||||||
Stock-Based Compensation (Details) [Line Items] | ||||||
Issuance of shares | 366,420 | 29,775 | ||||
Exercise price (in Dollars per share) | $ / shares | $ 0.001 | |||||
C-Options [Member] | ||||||
Stock-Based Compensation (Details) [Line Items] | ||||||
Issuance of shares | 146,818 | 29,755 | ||||
Class M Shares [Member] | M-Options [Member] | ||||||
Stock-Based Compensation (Details) [Line Items] | ||||||
Exercise price (in Dollars per share) | $ / shares | $ 0.001 | |||||
Class M Shares [Member] | C-Options [Member] | ||||||
Stock-Based Compensation (Details) [Line Items] | ||||||
Issuance of shares | 250,000 | |||||
Common Shares [Member] | C-Options [Member] | ||||||
Stock-Based Compensation (Details) [Line Items] | ||||||
Issuance of shares | 250,000 | |||||
Class M Series [Member] | ||||||
Stock-Based Compensation (Details) [Line Items] | ||||||
Options granted (in Dollars) | $ | $ 5.5 | $ 45.2 | $ 102.5 | |||
Employee Stock Option Plan [Member] | ||||||
Stock-Based Compensation (Details) [Line Items] | ||||||
Share options expiration period | 10 years | |||||
Granted options | ||||||
Weighted average fair value of stock options granted (in Dollars per share) | $ / shares | $ 20.57 | |||||
Employee Stock Option Plan [Member] | M-Options [Member] | ||||||
Stock-Based Compensation (Details) [Line Items] | ||||||
Weighted average fair value of stock options granted (in Dollars per share) | $ / shares | $ 102.5 | |||||
Number of options granted | 29,755 | |||||
Employee Stock Option Plan [Member] | C-Options [Member] | ||||||
Stock-Based Compensation (Details) [Line Items] | ||||||
Weighted average fair value of stock options granted (in Dollars per share) | $ / shares | $ 34.82 | |||||
Number of options granted | 29,755 | |||||
M-Options [Member] | ||||||
Stock-Based Compensation (Details) [Line Items] | ||||||
Granted options | ||||||
C-Options [Member] | ||||||
Stock-Based Compensation (Details) [Line Items] | ||||||
Granted options | ||||||
MSOP III [Member] | ||||||
Stock-Based Compensation (Details) [Line Items] | ||||||
Exercise price (in Dollars per share) | $ / shares | $ 102.5 | |||||
MSOP II [Member] | ||||||
Stock-Based Compensation (Details) [Line Items] | ||||||
Exercise price (in Dollars per share) | $ / shares | 45.2 | |||||
MSOP I [Member] | ||||||
Stock-Based Compensation (Details) [Line Items] | ||||||
Exercise price (in Dollars per share) | $ / shares | $ 5.5 |
Stock-Based Compensation (Det_2
Stock-Based Compensation (Details) - Schedule of Changes in the Number of Stock Options Outstanding | 12 Months Ended | |
Sep. 30, 2023 $ / shares shares | Sep. 30, 2022 $ / shares shares | |
Schedule of Changes In The Number of Stock Options Outstanding [Abstract] | ||
Number of stock options, Outstanding, beginning of year (in Shares) | shares | 1,268,360 | 1,057,913 |
Weighted average exercise price Outstanding, beginning of year | $ 58.64 | $ 47.97 |
Number of stock options, Exercisable, end of year | 759,740 | |
Weighted average exercise price, Exercisable, end of year | $ 35.41 | |
Number of stock options, Granted | 366,420 | |
Weighted average exercise price, Granted | $ 102.5 | |
Number of stock options, Exercised | (223) | |
Weighted average exercise price, Exercised | $ 41.35 | |
Number of stock options, Forfeited | (200,421) | (155,750) |
Weighted average exercise price, Forfeited | $ 69.01 | $ 87.29 |
Number of stock options, Cancelled | (1,067,939) | |
Weighted average exercise price, Cancelled | $ 56.69 | |
Number of stock options, Outstanding, end of year (in Shares) | shares | 1,268,360 | |
Weighted average exercise price Outstanding, end of year | $ 58.64 |
Stock-Based Compensation (Det_3
Stock-Based Compensation (Details) - Schedule of Options Weighted Average Remaining Life - shares | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Outstanding Options [Member] | ||
Stock-Based Compensation (Details) - Schedule of Options Weighted Average Remaining Life [Line Items] | ||
Number of Outstanding options | 1,268,360 | |
Weighted average remaining life (years), Outstanding options | 6 years 6 months | |
Exercisable Options [Member] | ||
Stock-Based Compensation (Details) - Schedule of Options Weighted Average Remaining Life [Line Items] | ||
Number of Outstanding options | 759,740 | |
Weighted average remaining life (years), Outstanding options | 5 years | |
$2.75 [Member] | Outstanding Options [Member] | ||
Stock-Based Compensation (Details) - Schedule of Options Weighted Average Remaining Life [Line Items] | ||
Number of Outstanding options | 142,094 | |
Weighted average remaining life (years), Outstanding options | 2 years 1 month 6 days | |
$2.75 [Member] | Exercisable Options [Member] | ||
Stock-Based Compensation (Details) - Schedule of Options Weighted Average Remaining Life [Line Items] | ||
Number of Outstanding options | 142,094 | |
Weighted average remaining life (years), Outstanding options | 2 years 1 month 6 days | |
$5.50 [Member] | Outstanding Options [Member] | ||
Stock-Based Compensation (Details) - Schedule of Options Weighted Average Remaining Life [Line Items] | ||
Number of Outstanding options | 182,515 | |
Weighted average remaining life (years), Outstanding options | 2 years 10 months 24 days | |
$5.50 [Member] | Exercisable Options [Member] | ||
Stock-Based Compensation (Details) - Schedule of Options Weighted Average Remaining Life [Line Items] | ||
Number of Outstanding options | 182,515 | |
Weighted average remaining life (years), Outstanding options | 2 years 10 months 24 days | |
$32.27 [Member] | Outstanding Options [Member] | ||
Stock-Based Compensation (Details) - Schedule of Options Weighted Average Remaining Life [Line Items] | ||
Number of Outstanding options | ||
Weighted average remaining life (years), Outstanding options | ||
$32.27 [Member] | Exercisable Options [Member] | ||
Stock-Based Compensation (Details) - Schedule of Options Weighted Average Remaining Life [Line Items] | ||
Number of Outstanding options | ||
Weighted average remaining life (years), Outstanding options | 0 years | |
$38.26 [Member] | Outstanding Options [Member] | ||
Stock-Based Compensation (Details) - Schedule of Options Weighted Average Remaining Life [Line Items] | ||
Number of Outstanding options | 11,827 | |
Weighted average remaining life (years), Outstanding options | 8 years 2 months 12 days | |
$38.26 [Member] | Exercisable Options [Member] | ||
Stock-Based Compensation (Details) - Schedule of Options Weighted Average Remaining Life [Line Items] | ||
Number of Outstanding options | 11,272 | |
Weighted average remaining life (years), Outstanding options | 8 years 2 months 12 days | |
$45.20 [Member] | Outstanding Options [Member] | ||
Stock-Based Compensation (Details) - Schedule of Options Weighted Average Remaining Life [Line Items] | ||
Number of Outstanding options | 406,779 | |
Weighted average remaining life (years), Outstanding options | 6 years 4 months 24 days | |
$45.20 [Member] | Exercisable Options [Member] | ||
Stock-Based Compensation (Details) - Schedule of Options Weighted Average Remaining Life [Line Items] | ||
Number of Outstanding options | 321,848 | |
Weighted average remaining life (years), Outstanding options | 6 years 4 months 24 days | |
$101.64 [Member] | Outstanding Options [Member] | ||
Stock-Based Compensation (Details) - Schedule of Options Weighted Average Remaining Life [Line Items] | ||
Number of Outstanding options | 56,050 | |
Weighted average remaining life (years), Outstanding options | 8 years 2 months 12 days | |
$101.64 [Member] | Exercisable Options [Member] | ||
Stock-Based Compensation (Details) - Schedule of Options Weighted Average Remaining Life [Line Items] | ||
Number of Outstanding options | 16,345 | |
Weighted average remaining life (years), Outstanding options | 8 years 2 months 12 days | |
$102.50 [Member] | Outstanding Options [Member] | ||
Stock-Based Compensation (Details) - Schedule of Options Weighted Average Remaining Life [Line Items] | ||
Number of Outstanding options | 454,295 | |
Weighted average remaining life (years), Outstanding options | 9 years | |
$102.50 [Member] | Exercisable Options [Member] | ||
Stock-Based Compensation (Details) - Schedule of Options Weighted Average Remaining Life [Line Items] | ||
Number of Outstanding options | 81,966 | |
Weighted average remaining life (years), Outstanding options | 8 years | |
$106.67 [Member] | Outstanding Options [Member] | ||
Stock-Based Compensation (Details) - Schedule of Options Weighted Average Remaining Life [Line Items] | ||
Number of Outstanding options | 4,800 | |
Weighted average remaining life (years), Outstanding options | 8 years 8 months 12 days | |
$106.67 [Member] | Exercisable Options [Member] | ||
Stock-Based Compensation (Details) - Schedule of Options Weighted Average Remaining Life [Line Items] | ||
Number of Outstanding options | 1,200 | |
Weighted average remaining life (years), Outstanding options | 8 years 8 months 12 days | |
$136.47 [Member] | Outstanding Options [Member] | ||
Stock-Based Compensation (Details) - Schedule of Options Weighted Average Remaining Life [Line Items] | ||
Number of Outstanding options | 10,000 | |
Weighted average remaining life (years), Outstanding options | 8 years 7 months 6 days | |
$136.47 [Member] | Exercisable Options [Member] | ||
Stock-Based Compensation (Details) - Schedule of Options Weighted Average Remaining Life [Line Items] | ||
Number of Outstanding options | 2,500 | |
Weighted average remaining life (years), Outstanding options | 8 years 7 months 6 days |
Stock-Based Compensation (Det_4
Stock-Based Compensation (Details) - Schedule of Weighted Average Fair Value of Stock Options Granted - Option [Member] - $ / shares | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Stock-Based Compensation (Details) - Schedule of Weighted Average Fair Value of Stock Options Granted [Line Items] | |||
Fair value of the underlying share (in Dollars per share) | $ 72.88 | $ 111.81 | |
Exercise price (in Dollars per share) | $ 102.5 | $ 99.22 | |
Risk-free interest rate | 2.20% | 0.20% | |
Expected volatility | 81% | 45% | |
Expected life | 2 years 4 months 28 days | 3 years | |
Dividend yield | 0% | 0% |
Stock-Based Compensation (Det_5
Stock-Based Compensation (Details) - Schedule of Changes in the Number of M-Options and C-Options Outstanding | 12 Months Ended | ||
Sep. 30, 2023 $ / shares | Sep. 30, 2022 $ / shares | Sep. 30, 2021 $ / shares | |
M-Options [Member] | |||
M-Options | |||
Number of stock options, Outstanding, beginning of year | 223,692 | 227,017 | 197,757 |
Weighted average exercise price Outstanding, beginning of year | $ 0.001 | $ 0.001 | $ 0.001 |
Number of stock options, Outstanding, end of year | 223,692 | 223,692 | 227,017 |
Weighted average exercise price Outstanding, end of year | $ 0.001 | $ 0.001 | $ 0.001 |
Number of stock options, Exercisable, end of year | |||
Weighted average exercise price, Exercisable, end of year | |||
Number of stock options, Granted | 29,755 | ||
Weighted average exercise price, Granted | $ 0.001 | ||
Number of stock options, Forfeited | (3,325) | (495) | |
Weighted average exercise price, Forfeited | $ 0.001 | $ 0.001 | |
C-Options [Member] | |||
M-Options | |||
Number of stock options, Outstanding, beginning of year | 217,970 | 221,295 | 192,035 |
Weighted average exercise price Outstanding, beginning of year | $ 27.85 | $ 28.87 | $ 17.5 |
Number of stock options, Outstanding, end of year | 217,970 | 217,970 | 221,295 |
Weighted average exercise price Outstanding, end of year | $ 27.85 | $ 27.85 | $ 28.87 |
Number of stock options, Exercisable, end of year | |||
Weighted average exercise price, Exercisable, end of year | |||
Number of stock options, Granted | 29,755 | ||
Weighted average exercise price, Granted | $ 102.5 | ||
Number of stock options, Forfeited | (3,325) | (495) | |
Weighted average exercise price, Forfeited | $ 95.54 | $ 102.5 |
Stock-Based Compensation (Det_6
Stock-Based Compensation (Details) - Schedule of Options Weighted Average Remaining Life - Management Stock Option Plan [Member] | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Stock-Based Compensation (Details) - Schedule of Options Weighted Average Remaining Life [Line Items] | |||
Number of Outstanding options | 217,970 | 217,970 | 221,295 |
Weighted average remaining life (years), Outstanding options | 3 years 25 days | 4 years 25 days | 4 years 7 months 6 days |
M-Options [Member] | $0.001 [Member] | |||
Stock-Based Compensation (Details) - Schedule of Options Weighted Average Remaining Life [Line Items] | |||
Number of Outstanding options | 223,692 | 223,692 | 227,017 |
Weighted average remaining life (years), Outstanding options | 2 years 10 months 24 days | 3 years 10 months 24 days | 4 years 9 months 21 days |
C-Options [Member] | $5.50 [Member] | |||
Stock-Based Compensation (Details) - Schedule of Options Weighted Average Remaining Life [Line Items] | |||
Number of Outstanding options | 133,975 | 133,975 | 133,975 |
Weighted average remaining life (years), Outstanding options | 1 year 9 months 21 days | 2 years 9 months 21 days | 3 years 3 days |
C-Options [Member] | $45.20 [Member] | |||
Stock-Based Compensation (Details) - Schedule of Options Weighted Average Remaining Life [Line Items] | |||
Number of Outstanding options | 57,161 | 57,161 | 57,565 |
Weighted average remaining life (years), Outstanding options | 4 years 1 month 6 days | 5 years 1 month 6 days | 6 years 3 days |
C-Options [Member] | $102.50 [Member] | |||
Stock-Based Compensation (Details) - Schedule of Options Weighted Average Remaining Life [Line Items] | |||
Number of Outstanding options | 26,834 | 26,834 | 29,755 |
Weighted average remaining life (years), Outstanding options | 7 years 2 months 19 days | 8 years 2 months 19 days | 9 years 3 days |
Stock-Based Compensation (Det_7
Stock-Based Compensation (Details) - Schedule of Weighted Average Fair Value of Stock Options Granted - Management Stock Option Plan [Member] - C-Options [Member] - Option pricing model [member] - $ / shares | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
C-Options | |||
Weighted average fair value of the underlying share (in Dollars per share) | $ 106.26 | ||
Exercise price (in Dollars per share) | $ 102.5 | ||
Risk-free interest rate | 0.20% | ||
Expected volatility | 45% | ||
Expected life | 3 years | ||
Dividend yield | 0% |
Stock-Based Compensation (Det_8
Stock-Based Compensation (Details) - Schedule of Reconciles the Redeemable Stock Options - Redeemable Stock Options [Member] | 12 Months Ended | |
Sep. 30, 2023 CAD ($) $ / shares | Sep. 30, 2022 CAD ($) $ / shares | |
Stock-Based Compensation (Details) - Schedule of Reconciles the Redeemable Stock Options [Line Items] | ||
Number of stock options | 223,692 | 223,692 |
Total fair value of stock options | $ 6,102,496 | $ 6,102,496 |
Class M Series 2014 [Member] | ||
Stock-Based Compensation (Details) - Schedule of Reconciles the Redeemable Stock Options [Line Items] | ||
Number of stock options | 139,697 | 139,697 |
Weighted average fair value of stock options | $ / shares | $ 5.5 | $ 5.5 |
Total fair value of stock options | $ 768,334 | $ 768,334 |
Class M Series 2017 [Member] | ||
Stock-Based Compensation (Details) - Schedule of Reconciles the Redeemable Stock Options [Line Items] | ||
Number of stock options | 57,161 | 57,161 |
Weighted average fair value of stock options | $ / shares | $ 45.2 | $ 45.2 |
Total fair value of stock options | $ 2,583,677 | $ 2,583,677 |
Class M Series 2020 [Member] | ||
Stock-Based Compensation (Details) - Schedule of Reconciles the Redeemable Stock Options [Line Items] | ||
Number of stock options | 26,834 | 26,834 |
Weighted average fair value of stock options | $ / shares | $ 102.5 | $ 102.5 |
Total fair value of stock options | $ 2,750,485 | $ 2,750,485 |
Stock-Based Compensation (Det_9
Stock-Based Compensation (Details) - Schedule of Total Stock-based Compensation Expense - CAD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Stock-Based Compensation (Details) - Schedule of Total Stock-based Compensation Expense [Line Items] | |||
Total stock-based compensation expenses | $ 2,436,974 | $ 4,272,673 | $ 12,193,618 |
ESOP, equity-settled [Member] | |||
Stock-Based Compensation (Details) - Schedule of Total Stock-based Compensation Expense [Line Items] | |||
Total stock-based compensation expenses | 2,474,955 | 3,223,540 | 6,139,661 |
C-Options, equity-settled [Member] | |||
Stock-Based Compensation (Details) - Schedule of Total Stock-based Compensation Expense [Line Items] | |||
Total stock-based compensation expenses | 703,463 | ||
Vayavision call option, equity-settled [Member] | |||
Stock-Based Compensation (Details) - Schedule of Total Stock-based Compensation Expense [Line Items] | |||
Total stock-based compensation expenses | 603,051 | 1,693,517 | 3,781,504 |
Reserve stock options movement [Member] | |||
Stock-Based Compensation (Details) - Schedule of Total Stock-based Compensation Expense [Line Items] | |||
Total stock-based compensation expenses | 3,078,006 | 4,917,057 | 10,624,628 |
M-Options, cash-settled [Member] | |||
Stock-Based Compensation (Details) - Schedule of Total Stock-based Compensation Expense [Line Items] | |||
Total stock-based compensation expenses | (317,663) | 3,027,513 | |
Capitalized as development costs [Member] | |||
Stock-Based Compensation (Details) - Schedule of Total Stock-based Compensation Expense [Line Items] | |||
Total stock-based compensation expenses | $ (641,032) | $ (326,721) | $ (1,458,523) |
Operating Expenses (Details) -
Operating Expenses (Details) - Schedule of Operating Expenses by Nature - As Restated [Member] - CAD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Operating Expenses (Details) - Schedule of Operating Expenses by Nature [Line Items] | |||
Employee benefit expenses | $ 23,250,847 | $ 30,802,594 | $ 17,290,669 |
Stock-based compensation | 2,436,974 | 4,272,673 | 12,193,618 |
Research costs | 624,866 | 2,074,830 | 2,732,403 |
Impairment loss related to intangible assets | 5,791,439 | 38,207,503 | |
Marketing expenses | 2,950,052 | 917,223 | 756,199 |
Selling expenses | 143,394 | 299,382 | 615,763 |
Depreciation of property and equipment | 1,059,769 | 1,291,048 | 989,963 |
Product line management expenses | 38,293 | 47,965 | 45,640 |
Recruitment fees | 369,482 | 791,788 | 522,434 |
Professional fees | 6,795,731 | 3,852,140 | 3,252,743 |
Other expenses | 2,331,738 | 1,176,515 | 1,082,619 |
Subcontractor services | 1,632,311 | 2,006,904 | 1,757,828 |
Travel expenses | 527,826 | 482,358 | 34,253 |
Amortization of intangible assets | 286,494 | 257,064 | 463,784 |
Insurance | 371,791 | 373,311 | 448,777 |
Research and development tax credits | (225,609) | (70,191) | (237,364) |
Depreciation expense on right of use assets | 533,394 | 560,870 | 349,833 |
Business acquisition costs | 3,506,630 | ||
Operating expenses | $ 52,425,422 | $ 87,343,977 | $ 42,299,162 |
Loss Per Share (Details) - Sche
Loss Per Share (Details) - Schedule of Net Loss - CAD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Schedule Of Net Loss Abstract | |||
Loss attributable to equity holders of the parent | $ (47,992,097) | $ (69,318,848) | $ (46,959,038) |
Weighted average number of common shares basic and diluted | 167,610 | 134,913 | 64,946 |
Basic and diluted loss per common share | $ (286.33) | $ (513.8) | $ (723.05) |
Loss Per Share (Details) - Sc_2
Loss Per Share (Details) - Schedule of Net Loss (Parentheticals) - $ / shares | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Schedule Of Net Loss Abstract | |||
Weighted average number of common shares diluted | 167,610 | 134,913 | 64,946 |
Diluted loss per common share | $ (286.33) | $ (513.80) | $ (723.05) |
Loss Per Share (Details) - Sc_3
Loss Per Share (Details) - Schedule of Dilution from Outstanding Stock Options - shares | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Outstanding employee stock option [Member] | ||
Loss Per Share (Details) - Schedule of Dilution from Outstanding Stock Options [Line Items] | ||
Antidilutive shares | 441,662 | 1,710,022 |
Convertible preferred stock [Member] | ||
Loss Per Share (Details) - Schedule of Dilution from Outstanding Stock Options [Line Items] | ||
Antidilutive shares | 6,581,392 | 5,976,388 |
Warrants [Member] | ||
Loss Per Share (Details) - Schedule of Dilution from Outstanding Stock Options [Line Items] | ||
Antidilutive shares | 13,890 | 13,890 |
Put and call options recognized as other component of equity [Member] | ||
Loss Per Share (Details) - Schedule of Dilution from Outstanding Stock Options [Line Items] | ||
Antidilutive shares | 94,931 | 94,931 |
Conversion options [Member] | ||
Loss Per Share (Details) - Schedule of Dilution from Outstanding Stock Options [Line Items] | ||
Antidilutive shares | 2,200,053 |
Additional Information Includ_3
Additional Information Included in the Consolidated Statement of Cash Flows (Details) - Schedule of Changes in Non-Cash Working Capital Items - As Restated [Member] - CAD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Additional Information Included in the Consolidated Statement of Cash Flows (Details) - Schedule of Changes in Non-Cash Working Capital Items [Line Items] | |||
Trade receivable and other receivables | $ 96,806 | $ (2,219,607) | $ (896,440) |
Government assistance and R&D tax credits receivable | (205,042) | 553,097 | 1,517,744 |
Inventories | (609,663) | (541,093) | 272,309 |
Prepaid expenses | (273,497) | 95,795 | (178,516) |
Accounts payable and accrued liabilities | 2,534,308 | 1,720,000 | 2,784,731 |
Provisions | 878,144 | ||
Net change in non-cash working capital items | $ 2,421,056 | $ (391,808) | $ 3,499,828 |
Government Grants (Details)
Government Grants (Details) - CAD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Government Grants [Abstract] | ||
Property and equipment | ||
Intangible assets | $ 524,694 | $ 1,726,838 |
Government Grants (Details) - S
Government Grants (Details) - Schedule of Government Grants - CAD ($) | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 |
Grant recognized in statement of loss [Member] | |||
Government Grants (Details) - Schedule of Government Grants [Line Items] | |||
Other grants | $ 377,080 | $ 351,713 | $ 95,619 |
Total grants | 377,080 | 435,448 | 2,164,794 |
R&D tax credit | 225,609 | 70,191 | 237,364 |
Total grants and R&D tax credits | 602,689 | 505,639 | 2,402,158 |
Canada Emergency Wage Subsidy | 83,735 | 876,434 | |
Interest free loan | 1,192,741 | ||
Grant recorded against carrying amount of intangible assets [Member] | |||
Government Grants (Details) - Schedule of Government Grants [Line Items] | |||
Other grants | 268,460 | 917,104 | 485,037 |
Total grants | 268,460 | 950,788 | 1,986,827 |
R&D tax credit | 256,234 | 776,050 | 995,506 |
Total grants and R&D tax credits | 524,694 | 1,726,838 | 2,982,333 |
Canada Emergency Wage Subsidy | 33,684 | 391,886 | |
Interest free loan | 1,109,904 | ||
Grant [Member] | |||
Government Grants (Details) - Schedule of Government Grants [Line Items] | |||
Other grants | 645,540 | 1,268,817 | 580,656 |
Total grants | 645,540 | 1,386,236 | 4,151,621 |
R&D tax credit | 481,843 | 846,241 | 1,232,870 |
Total grants and R&D tax credits | $ 1,127,383 | 2,232,477 | 5,384,491 |
Canada Emergency Wage Subsidy | $ 117,419 | 1,268,320 | |
Interest free loan | $ 2,302,645 |
Finance Costs, Net (Details) -
Finance Costs, Net (Details) - Schedule of Finance Costs, Net - CAD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Finance income | |||
Interest income | $ (223,594) | $ (40,251) | $ (3,454) |
Gain on debt modification (note 14c) | (4,332,173) | ||
Gain on debt settlement (note 14e) | (1,605,561) | ||
Premium and discount amortization | |||
Total | (6,161,328) | (40,251) | (3,454) |
Finance costs | |||
Interest expense on term loan (note 14c) | 2,016,587 | 1,830,360 | 1,225,861 |
Interest expense on lease liabilities (note 10) | 401,229 | 551,291 | 303,390 |
Interest expense on credit facility (note 14b) | 4,843,390 | 3,630,814 | 974,903 |
Interest expense on convertible notes (note 14a) | 1,067,932 | ||
Interest expense on bridge loans (note 14d) | 138,347 | ||
Interest expense on other loan (note 14e) | 160,413 | 274,263 | 319,258 |
Issuance and modification costs of convertible loans | 124,717 | 124,022 | |
Transaction costs related to company refinancing (note 14a) | 350,000 | ||
Net loss on debt extinguishments | 454,092 | 458,593 | |
Accretion and remeasurement of government grant liability (note 15) | 74,335 | (78,567) | 567,942 |
Bank charges | 64,166 | 91,840 | 81,261 |
Total | 9,116,399 | 6,878,810 | 4,055,230 |
Loss (gain) on revaluation of instruments carried at fair value | |||
Conversion option | 21,100 | ||
Convertible loans | (6,089,300) | 17,813,766 | |
Credit facility | 225,105 | 1,700,923 | |
Derivative warrant liability | 66,613 | ||
Contingent consideration payable | (1,265,043) | (5,700,260) | |
Total | 21,100 | (7,129,238) | 13,881,042 |
Capitalized borrowing costs (note 11) | (3,898,829) | (6,994,197) | (6,304,340) |
Foreign exchange loss (gain) | 224,057 | (2,749,505) | 67,083 |
Finance costs, net | $ (698,601) | $ (10,034,381) | $ 11,695,561 |
Income Taxes (Details)
Income Taxes (Details) - CAD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Income Taxes (Details) [Line Items] | |||
Deferred tax assets | $ 4,644,561 | $ 4,839,145 | |
Research and development costs | 12,719,093 | 22,057,911 | $ 11,226,737 |
Deferred income tax liability | 2,334,066 | $ 2,334,066 | |
Federal Level [Member] | |||
Income Taxes (Details) [Line Items] | |||
Research and development costs | 19,196,143 | ||
Provincial Level [Member] | |||
Income Taxes (Details) [Line Items] | |||
Research and development costs | $ 21,579,272 |
Income Taxes (Details) - Schedu
Income Taxes (Details) - Schedule of Reconciliation of the Income Tax Provision - CAD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Schedule of Reconciliation of the Income Tax Provision [Abstract] | |||
Loss before income taxes | $ (51,424,409) | $ (73,418,745) | $ (48,856,993) |
Income taxes at the Canadian statutory tax rate of 26.50% (26.50% in 2022 and 26,50% in 2021) | (13,760,987) | (19,455,967) | (12,947,103) |
Tax effect from: | |||
Effect of differences in tax rates in other jurisdictions | 903,064 | 659,121 | 497,913 |
Non-deductible items | 574,922 | 8,131,886 | 1,980,532 |
Tax losses and deductible temporary differences for which no deferred income tax assets is recognized | 11,436,187 | 10,696,915 | 10,643,020 |
Adjustment in respect of prior years | 846,814 | (31,954) | (172,895) |
Other | (1,467) | ||
Income tax expense (recovery) |
Income Taxes (Details) - Sche_2
Income Taxes (Details) - Schedule of Reconciliation of the Income Tax Provision (Parentheticals) - CAD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Schedule of Reconciliation of the Income Tax Provision [Abstract] | |||
Income Taxes at the Canadian Statutory Tax Rate | $ 26.5 | $ 26.5 | $ 26.5 |
Income Taxes (Details) - Sche_3
Income Taxes (Details) - Schedule of Deferred Tax Assets - CAD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Balance as at October 1, 2020 (As restated) [Member] | |||
Income Taxes (Details) - Schedule of Deferred Tax Assets [Line Items] | |||
Financing fees | $ 1,970,593 | $ 358,581 | $ 396,398 |
Provision and accruals | 519,550 | 381,341 | 56,011 |
Research and development cost | 4,700,695 | 5,361,422 | 3,165,108 |
Losses carried forward | 43,648,546 | 31,951,781 | 22,783,934 |
Convertible loan | 7,152,109 | 1,950,507 | |
Lease liabilities | 1,520,988 | 1,128,610 | 1,224,274 |
Government grant liability | 140,547 | 96,044 | 48,926 |
Deferred income grants | 120,573 | 120,573 | 9,950 |
Other debt discount | 420,004 | 514,938 | 501,215 |
Total deferred tax assets | 53,041,496 | 47,065,399 | 30,136,323 |
Property and equipment | (326,154) | (251,862) | (110,294) |
Intangible assets | (5,036,692) | (11,535,305) | (5,573,931) |
Right-of-use assets | (1,347,385) | (1,041,824) | (1,167,707) |
Debt discount-Grant/warrants | (2,309,719) | (2,716,353) | (1,552,468) |
Grant receivable | (38,156) | (854,888) | |
Conversion option liability | |||
Total deferred tax liabilities | (9,058,106) | (15,545,344) | (9,259,288) |
Net deferred tax assets (liabilities) | 43,983,390 | 31,520,055 | 20,877,035 |
Unrecognized net deferred tax assets | (43,983,390) | (31,520,055) | (20,877,035) |
Recognized net deferred tax (liabilities) | |||
Credited (charged) to the statement of loss [Member] | |||
Income Taxes (Details) - Schedule of Deferred Tax Assets [Line Items] | |||
Financing fees | 154,336 | ||
Provision and accruals | (453) | ||
Research and development cost | 660,343 | ||
Losses carried forward | 12,030,648 | ||
Convertible loan | 12,175 | ||
Lease liabilities | (596,044) | ||
Government grant liability | 11,527 | ||
Deferred income grants | |||
Other debt discount | (420,004) | ||
Total deferred tax assets | 11,852,529 | ||
Property and equipment | 273,159 | ||
Intangible assets | 828,977 | ||
Right-of-use assets | 602,045 | ||
Debt discount-Grant/warrants | (686,102) | ||
Grant receivable | 14,967 | ||
Conversion option liability | 5,592 | ||
Total deferred tax liabilities | 1,038,637 | ||
Net deferred tax assets (liabilities) | 12,891,166 | ||
Unrecognized net deferred tax assets | (12,891,166) | ||
Recognized net deferred tax (liabilities) | |||
Credited (charged) to the shareholders’ equity [Member] | |||
Income Taxes (Details) - Schedule of Deferred Tax Assets [Line Items] | |||
Financing fees | 1,766,420 | ||
Provision and accruals | |||
Research and development cost | |||
Losses carried forward | |||
Convertible loan | |||
Lease liabilities | |||
Government grant liability | |||
Deferred income grants | |||
Other debt discount | |||
Total deferred tax assets | 1,766,420 | ||
Property and equipment | |||
Intangible assets | |||
Right-of-use assets | |||
Debt discount-Grant/warrants | |||
Grant receivable | |||
Conversion option liability | |||
Total deferred tax liabilities | |||
Net deferred tax assets (liabilities) | 1,766,420 | ||
Unrecognized net deferred tax assets | (1,766,420) | ||
Recognized net deferred tax (liabilities) | |||
Balance as at September 30, 2023 [Member] | |||
Income Taxes (Details) - Schedule of Deferred Tax Assets [Line Items] | |||
Financing fees | 2,124,929 | ||
Provision and accruals | 519,097 | ||
Research and development cost | 5,361,039 | ||
Losses carried forward | 55,679,194 | ||
Convertible loan | 12,175 | ||
Lease liabilities | 924,944 | ||
Government grant liability | 152,074 | ||
Deferred income grants | 120,573 | ||
Other debt discount | |||
Total deferred tax assets | 64,894,025 | ||
Property and equipment | (52,996) | ||
Intangible assets | (4,207,715) | ||
Right-of-use assets | (745,340) | ||
Debt discount-Grant/warrants | (2,995,821) | ||
Grant receivable | (23,189) | ||
Conversion option liability | 5,592 | ||
Total deferred tax liabilities | (8,019,469) | ||
Net deferred tax assets (liabilities) | 56,874,556 | ||
Unrecognized net deferred tax assets | (56,874,556) | ||
Recognized net deferred tax (liabilities) | |||
Credited (charged) in the statement of loss (As restated) [Member] | |||
Income Taxes (Details) - Schedule of Deferred Tax Assets [Line Items] | |||
Financing fees | (154,408) | (37,817) | |
Provision and accruals | 138,209 | 325,330 | |
Research and development cost | (660,727) | 2,196,314 | |
Losses carried forward | 11,696,765 | 9,167,847 | |
Convertible loan | (7,152,109) | 5,201,602 | |
Lease liabilities | 392,378 | (95,664) | |
Government grant liability | 44,503 | 47,118 | |
Deferred income grants | 110,623 | ||
Other debt discount | (94,934) | 13,723 | |
Total deferred tax assets | 4,209,677 | 16,929,076 | |
Property and equipment | (74,292) | (141,568) | |
Intangible assets | 6,498,613 | (5,961,374) | |
Right-of-use assets | (305,561) | 125,883 | |
Debt discount-Grant/warrants | 406,634 | (1,163,885) | |
Grant receivable | (38,156) | 854,888 | |
Total deferred tax liabilities | 6,487,238 | (6,286,056) | |
Net deferred tax assets (liabilities) | 10,696,915 | 10,643,020 | |
Unrecognized net deferred tax assets | (10,696,915) | (10,643,020) | |
Recognized net deferred tax (liabilities) | |||
Balance as at September 30, 2021 (As restated) [Member] | |||
Income Taxes (Details) - Schedule of Deferred Tax Assets [Line Items] | |||
Financing fees | 1,970,593 | 358,581 | |
Provision and accruals | 519,550 | 381,341 | |
Research and development cost | 4,700,695 | 5,361,422 | |
Losses carried forward | 43,648,546 | 31,951,781 | |
Convertible loan | 7,152,109 | ||
Lease liabilities | 1,520,988 | 1,128,610 | |
Government grant liability | 140,547 | 96,044 | |
Deferred income grants | 120,573 | 120,573 | |
Other debt discount | 420,004 | 514,938 | |
Total deferred tax assets | 53,041,496 | 47,065,399 | |
Property and equipment | (326,154) | (251,862) | |
Intangible assets | (5,036,692) | (11,535,305) | |
Right-of-use assets | (1,347,385) | (1,041,824) | |
Debt discount-Grant/warrants | (2,309,719) | (2,716,353) | |
Grant receivable | (38,156) | ||
Total deferred tax liabilities | (9,058,106) | (15,545,344) | |
Net deferred tax assets (liabilities) | 43,983,390 | 31,520,055 | |
Unrecognized net deferred tax assets | (43,983,390) | (31,520,055) | |
Recognized net deferred tax (liabilities) |
Income Taxes (Details) - Sche_4
Income Taxes (Details) - Schedule of Expiry of Operating Losses | 12 Months Ended |
Sep. 30, 2023 CAD ($) | |
Federal [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | $ 189,898,907 |
Quebec [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 188,776,063 |
USA [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 657,789 |
Israel [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 33,393,753 |
2026 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 18,516 |
2026 [Member] | Quebec [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2026 [Member] | USA [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2026 [Member] | Israel [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2027 Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 175,149 |
2027 Member] | Quebec [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 160,253 |
2027 Member] | USA [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2027 Member] | Israel [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2028 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 896,504 |
2028 [Member] | Quebec [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 872,674 |
2028 [Member] | USA [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2028 [Member] | Israel [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2029 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 2,101,838 |
2029 [Member] | Quebec [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 2,077,374 |
2029 [Member] | USA [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2029 [Member] | Israel [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2030 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 1,365,399 |
2030 [Member] | Quebec [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 1,311,824 |
2030 [Member] | USA [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2030 [Member] | Israel [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2031 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 2,303,130 |
2031 [Member] | Quebec [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 2,280,459 |
2031 [Member] | USA [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2031 [Member] | Israel [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2032 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 1,375,780 |
2032 [Member] | Quebec [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 1,306,718 |
2032 [Member] | USA [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2032 [Member] | Israel [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2033 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 3,482,936 |
2033 [Member] | Quebec [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 3,482,936 |
2033 [Member] | USA [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2033 [Member] | Israel [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2034 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 3,266,503 |
2034 [Member] | Quebec [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 3,275,941 |
2034 [Member] | USA [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2034 [Member] | Israel [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2035 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 3,408,474 |
2035 [Member] | Quebec [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 3,444,648 |
2035 [Member] | USA [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2035 [Member] | Israel [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2036 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 885,475 |
2036 [Member] | Quebec [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 885,963 |
2036 [Member] | USA [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2036 [Member] | Israel [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2037 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2037 [Member] | Quebec [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2037 [Member] | USA [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2037 [Member] | Israel [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2038 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 15,542,450 |
2038 [Member] | Quebec [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 15,638,499 |
2038 [Member] | USA [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2038 [Member] | Israel [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2039 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 22,974,686 |
2039 [Member] | Quebec [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 22,727,051 |
2039 [Member] | USA [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2039 [Member] | Israel [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2040 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 28,727,803 |
2040 [Member] | Quebec [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 28,444,120 |
2040 [Member] | USA [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2040 [Member] | Israel [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2041 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 33,860,655 |
2041 [Member] | Quebec [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 33,548,568 |
2041 [Member] | USA [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2041 [Member] | Israel [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2042 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 29,975,342 |
2042 [Member] | Quebec [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 29,600,226 |
2042 [Member] | USA [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2042 [Member] | Israel [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
2043 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 39,538,267 |
2043 [Member] | Quebec [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 39,718,809 |
Indefinite [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
Indefinite [Member] | Quebec [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | |
Indefinite [Member] | USA [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | 657,789 |
Indefinite [Member] | Israel [Member] | |
Income Taxes (Details) - Schedule of Expiry of Operating Losses [Line Items] | |
Expiry of operating losses | $ 33,393,753 |
Income Taxes (Details) - Sche_5
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated | 12 Months Ended |
Sep. 30, 2023 CAD ($) | |
Federal [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Federal | $ 6,181,448 |
2008 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Federal | $ 1,232 |
2008 [Member] | Year of expiry [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Year of expiry | 2025 years |
2009 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Federal | $ 1,562 |
2009 [Member] | Year of expiry [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Year of expiry | 2026 years |
2009 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Federal | $ 1,257 |
2009 [Member] | Year of expiry [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Year of expiry | 2027 years |
2010 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Federal | $ 18,655 |
2010 [Member] | Year of expiry [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Year of expiry | 2028 years |
2011 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Federal | $ 9,843 |
2011 [Member] | Year of expiry [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Year of expiry | 2029 years |
2012 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Federal | $ 7,069 |
2012 [Member] | Year of expiry [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Year of expiry | 2030 years |
2016 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Federal | $ 9,718 |
2016 [Member] | Year of expiry [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Year of expiry | 2034 years |
2017 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Federal | |
2017 [Member] | Year of expiry [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Year of expiry | 2032 years |
2017 One [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Federal | $ 51,182 |
2017 One [Member] | Year of expiry [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Year of expiry | 2036 years |
2017 Two [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Federal | $ 25,029 |
2017 Two [Member] | Year of expiry [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Year of expiry | 2037 years |
2018 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Federal | $ 480,243 |
2018 [Member] | Year of expiry [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Year of expiry | 2038 years |
2019 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Federal | $ 1,134,507 |
2019 [Member] | Year of expiry [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Year of expiry | 2039 years |
2020 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Federal | $ 1,389,834 |
2020 [Member] | Year of expiry [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Year of expiry | 2040 years |
2021 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Federal | $ 1,243,043 |
2021 [Member] | Year of expiry [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Year of expiry | 2041 years |
2022 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Federal | $ 1,359,218 |
2022 [Member] | Year of expiry [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Year of expiry | 2042 years |
2023 [Member] | Federal [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Federal | $ 449,056 |
2023 [Member] | Year of expiry [Member] | |
Income Taxes (Details) - Schedule of R&D Tax Credits Accumulated [Line Items] | |
Year of expiry | 2043 years |
Related Party Transactions (Det
Related Party Transactions (Details) | Nov. 01, 2021 CAD ($) |
Related party transactions [Abstract] | |
Non-cash transaction of related party | $ 3,703,920 |
Related Party Transactions (D_2
Related Party Transactions (Details) - Schedule of Compensation Awarded to Key Management - CAD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Schedule of Compensation Awarded to Key Management [Abstract] | |||
Salaries and short-term employee benefits | $ 1,883,078 | $ 2,050,590 | $ 1,181,382 |
Stock-based compensation | 850,271 | 1,134,006 | 2,628,320 |
Total | $ 2,733,349 | $ 3,184,596 | $ 3,809,702 |
Related Party Transactions (D_3
Related Party Transactions (Details) - Schedule of Transactions with Related Parties - CAD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Schedule of Transaction with Related Parties [Abstract] | |||
Revenue – Services and products | $ 115,698 | ||
Purchases – Cost of sales | 6,540 | ||
Loss (gain) on revaluation of convertible loans | $ (704,912) | $ 2,062,165 |
Capital Management (Details) -
Capital Management (Details) - Schedule of Policies and Processes for Managing Capital - Capital [Member] - CAD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Capital Management (Details) - Schedule of Policies and Processes for Managing Capital [Line Items] | ||
Credit facility | $ (28,747,705) | |
Term loan | (7,718,928) | |
Convertible notes | (11,258,950) | |
Other loan | ||
Redeemable stock options | (6,102,496) | |
Government grant liabilities | (1,468,296) | |
Contingent consideration payable | ||
Less: cash | 5,056,040 | |
Net debt | (50,240,335) | |
Equity (deficiency) attributable to owners of the capital stock of the parent | 7,111,792 | |
Equity total | $ (43,632,367) | |
As Restated (Note 2) [Member] | ||
Capital Management (Details) - Schedule of Policies and Processes for Managing Capital [Line Items] | ||
Credit facility | $ (30,000,000) | |
Term loan | (10,034,513) | |
Convertible notes | ||
Other loan | (1,582,780) | |
Redeemable stock options | (6,102,496) | |
Government grant liabilities | (1,409,694) | |
Contingent consideration payable | ||
Less: cash | 32,025,899 | |
Net debt | (17,103,584) | |
Equity (deficiency) attributable to owners of the capital stock of the parent | 33,159,327 | |
Equity total | $ 16,055,743 |
Financial Instruments (Details)
Financial Instruments (Details) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Financial Instruments [Line Items] | ||
Credit risk | 39% | 51% |
Appreciation of currencies percentage | 5% | |
Exchange rate percentage | 5% | |
Trade Accounts Receivable [Member] | ||
Financial Instruments [Line Items] | ||
Trade accounts receivable | 69% | 64% |
Financial Instruments (Detail_2
Financial Instruments (Details) - Schedule of Financial Instruments Carrying Amount - CAD ($) | Sep. 30, 2023 | Sep. 30, 2022 | |
Financial assets | |||
Cash | $ 5,056,040 | $ 32,025,899 | |
Accounts receivable | [1] | 2,281,915 | 3,093,031 |
Call option | |||
Current financial assets | 7,337,955 | 35,118,930 | |
Financial liabilities | |||
Accounts payable and accrued liabilities | [2] | 12,466,676 | 10,676,846 |
Credit facility | 28,747,705 | 30,000,000 | |
Term loan | 7,718,928 | 10,034,513 | |
Convertible notes | 11,258,950 | ||
Conversion option | 737,974 | ||
Government grant liabilities | 1,468,296 | 1,409,694 | |
Other loan | 1,582,780 | ||
Total | 62,398,529 | 53,703,833 | |
Current | 13,773,457 | 41,019,521 | |
Non-current | 48,625,072 | 12,684,312 | |
Amortized Cost [Member] | |||
Financial assets | |||
Cash | 5,056,040 | 32,025,899 | |
Accounts receivable | [1] | 2,281,915 | 3,093,031 |
Call option | |||
Current financial assets | 7,337,955 | 35,118,930 | |
Financial liabilities | |||
Accounts payable and accrued liabilities | [2] | 12,466,676 | 10,676,846 |
Credit facility | 28,747,705 | 30,000,000 | |
Term loan | 7,718,928 | 10,034,513 | |
Convertible notes | 11,258,950 | ||
Conversion option | |||
Government grant liabilities | 1,468,296 | 1,409,694 | |
Other loan | 1,582,780 | ||
Total | 61,660,555 | 53,703,833 | |
Current | 13,035,483 | 41,019,521 | |
Non-current | 48,625,072 | 12,684,312 | |
FVTPL [Member] | |||
Financial assets | |||
Cash | |||
Accounts receivable | [1] | ||
Call option | |||
Current financial assets | |||
Financial liabilities | |||
Accounts payable and accrued liabilities | [2] | ||
Credit facility | |||
Term loan | |||
Convertible notes | |||
Conversion option | 737,974 | ||
Government grant liabilities | |||
Other loan | |||
Total | 737,974 | ||
Current | 737,974 | ||
Non-current | |||
[1]Excluding commodity taxes receivable, as these amounts do not represent a contractual right to receive cash or another financial asset.[2]Excluding deferred revenue, as these amounts do not represent a contractual obligation to deliver cash or another financial asset. |
Financial Instruments (Detail_3
Financial Instruments (Details) - Schedule of Financial Assets and Liabilities Measured at Fair Value - CAD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Assets measured at fair value | ||
Call option | ||
Quoted prices in active market (level 1) [Member] | ||
Assets measured at fair value | ||
Call option | ||
Significant observable inputs (level 2) [Member] | ||
Assets measured at fair value | ||
Call option | ||
Significant unobservable inputs (level 3) [Member] | ||
Assets measured at fair value | ||
Call option |
Financial Instruments (Detail_4
Financial Instruments (Details) - Schedule of Financial Liabilities - CAD ($) | Sep. 30, 2023 | Sep. 30, 2022 | |
Financial Instruments (Details) - Schedule of Financial Liabilities [Line Items] | |||
Accounts payable and accrued liabilities | [1] | $ 12,466,676 | $ 10,676,846 |
Redeemable stock options | 6,102,496 | 6,102,496 | |
Credit facility | 43,334,806 | 32,528,750 | |
Convertible loan | 39,610,854 | ||
Term loan | 34,730,084 | 19,262,586 | |
Government grant liabilities | 1,778,664 | 1,409,694 | |
Other loan | 3,084,075 | ||
Total | 138,023,580 | 73,064,447 | |
Less than 1 year [Member] | |||
Financial Instruments (Details) - Schedule of Financial Liabilities [Line Items] | |||
Accounts payable and accrued liabilities | 12,466,676 | 10,676,846 | |
Redeemable stock options | |||
Credit facility | 4,766,345 | 32,528,750 | |
Convertible loan | |||
Term loan | |||
Government grant liabilities | 568,807 | ||
Other loan | 342,675 | ||
Total | 17,801,828 | 43,548,271 | |
1 to 5 years [Member] | |||
Financial Instruments (Details) - Schedule of Financial Liabilities [Line Items] | |||
Accounts payable and accrued liabilities | |||
Redeemable stock options | 6,102,496 | 6,102,496 | |
Credit facility | 38,568,461 | ||
Convertible loan | 39,610,854 | ||
Term loan | 21,317,876 | 9,631,293 | |
Government grant liabilities | 1,209,857 | 1,409,694 | |
Other loan | 1,370,700 | ||
Total | 106,809,544 | 18,514,183 | |
More than 5 years [Member] | |||
Financial Instruments (Details) - Schedule of Financial Liabilities [Line Items] | |||
Accounts payable and accrued liabilities | |||
Redeemable stock options | |||
Credit facility | |||
Convertible loan | |||
Term loan | 13,412,208 | 9,631,293 | |
Government grant liabilities | |||
Other loan | 1,370,700 | ||
Total | $ 13,412,208 | $ 11,001,993 | |
[1]Excluding deferred revenue, as these amounts do not represent a contractual obligation to deliver cash or another financial asset. |
Financial Instruments (Detail_5
Financial Instruments (Details) - Schedule of Floating Rate Borrowings - Sep. 30, 2023 | CAD ($) | USD ($) |
Increase +200 in Basis Points [Member] | ||
Financial Instruments (Details) - Schedule of Floating Rate Borrowings [Line Items] | ||
Credit facility, convertible notes and term loan | $ 1,580,146 | $ 200 |
Government grant liability | 31,713 | 200 |
Decrease -200 in Basis Points [Member] | ||
Financial Instruments (Details) - Schedule of Floating Rate Borrowings [Line Items] | ||
Credit facility, convertible notes and term loan | (1,580,146) | (200) |
Government grant liability | $ (30,148) | $ (200) |
Financial Instruments (Detail_6
Financial Instruments (Details) - Schedule of Financial Instrument Increase (Decrease) of Net Loss - CAD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
USD [Member] | ||
Financial Instruments (Details) - Schedule of Financial Instrument Increase (Decrease) of Net Loss [Line Items] | ||
Change in foreign exchange rate | 5% | |
Increase (decrease) of net loss and deficit | $ 592,954 | $ (828,626) |
EUR [Member] | ||
Financial Instruments (Details) - Schedule of Financial Instrument Increase (Decrease) of Net Loss [Line Items] | ||
Increase (decrease) of net loss and deficit | (10,296) | (6,033) |
NIS [Member] | ||
Financial Instruments (Details) - Schedule of Financial Instrument Increase (Decrease) of Net Loss [Line Items] | ||
Increase (decrease) of net loss and deficit | $ 171,980 | $ 167,434 |
Commitments (Details) - Schedul
Commitments (Details) - Schedule of Minimum Commitments Remaining under these Agreements | Sep. 30, 2023 CAD ($) |
Commitments (Details) - Schedule of Minimum Commitments Remaining under these Agreements [Line Items] | |
Total | $ 241,671 |
2024 [Member] | |
Commitments (Details) - Schedule of Minimum Commitments Remaining under these Agreements [Line Items] | |
Total | 223,371 |
2025 [Member] | |
Commitments (Details) - Schedule of Minimum Commitments Remaining under these Agreements [Line Items] | |
Total | 18,300 |
2026 [Member] | |
Commitments (Details) - Schedule of Minimum Commitments Remaining under these Agreements [Line Items] | |
Total | |
License [Member] | |
Commitments (Details) - Schedule of Minimum Commitments Remaining under these Agreements [Line Items] | |
Total | 127,412 |
License [Member] | 2024 [Member] | |
Commitments (Details) - Schedule of Minimum Commitments Remaining under these Agreements [Line Items] | |
Total | 122,422 |
License [Member] | 2025 [Member] | |
Commitments (Details) - Schedule of Minimum Commitments Remaining under these Agreements [Line Items] | |
Total | 4,990 |
License [Member] | 2026 [Member] | |
Commitments (Details) - Schedule of Minimum Commitments Remaining under these Agreements [Line Items] | |
Total | |
Telecommunications [Member] | |
Commitments (Details) - Schedule of Minimum Commitments Remaining under these Agreements [Line Items] | |
Total | 114,259 |
Telecommunications [Member] | 2024 [Member] | |
Commitments (Details) - Schedule of Minimum Commitments Remaining under these Agreements [Line Items] | |
Total | 100,949 |
Telecommunications [Member] | 2025 [Member] | |
Commitments (Details) - Schedule of Minimum Commitments Remaining under these Agreements [Line Items] | |
Total | 13,310 |
Telecommunications [Member] | 2026 [Member] | |
Commitments (Details) - Schedule of Minimum Commitments Remaining under these Agreements [Line Items] | |
Total |
Subsequent Events (Details)
Subsequent Events (Details) | 12 Months Ended | ||||
Jun. 12, 2023 USD ($) | Sep. 30, 2023 CAD ($) $ / shares shares | Oct. 31, 2023 CAD ($) | Sep. 30, 2023 USD ($) $ / shares shares | Sep. 30, 2022 CAD ($) shares | |
Subsequent Events [Line Items] | |||||
Non-controlling interests | $ (9,206,016) | $ (5,901,084) | |||
Aggregate of principal amount (in Dollars) | $ 44,000,000 | ||||
PIPE investors | 42.80% | 42.80% | |||
Conversion price | $ / shares | $ 10 | ||||
Aggregate equity value | $ 200,000,000 | ||||
Aggregate shares (in Shares) | shares | 855,440 | 855,440 | |||
Ordinary shares, par value (in Dollars per share) | $ / shares | $ 0.0001 | ||||
Prospector shares (in Shares) | shares | 6,749,002 | 6,749,002 | 6,143,998 | ||
Common shares outstanding percentage | 69.50% | 69.50% | |||
Weighted average price (in Dollars) | $ 12 | ||||
Warrants [Member] | |||||
Subsequent Events [Line Items] | |||||
Prospector shares (in Shares) | shares | 965,749 | 965,749 | |||
Common Shares [Member] | |||||
Subsequent Events [Line Items] | |||||
Common shares issued (in Shares) | shares | 8,553,434 | 8,553,434 | |||
Common Stock, Shares Outstanding | $ 20,000,000 | ||||
Conversion price | $ / shares | $ 10 | ||||
Weighted average price (in Dollars) | $ 14 | ||||
Common Shares [Member] | Warrants [Member] | |||||
Subsequent Events [Line Items] | |||||
Weighted average price (in Dollars) | $ 16 | ||||
Class A Ordinary Shares [Member] | |||||
Subsequent Events [Line Items] | |||||
PIPE investors | 39% | 39% | |||
Conversion price | $ / shares | $ 10.93 | ||||
Trust account | $ 9,300,000 | ||||
Prospector shares (in Shares) | shares | 1,338,616 | 1,338,616 | |||
Subsequent Events [Member] | |||||
Subsequent Events [Line Items] | |||||
Amendments to the credit facility | $ 1,500,000 | ||||
Gain on lease modification | $ 159,263 | ||||
Total penalties | 259,229 | ||||
Purchase price | $ 57,724 | ||||
Non-controlling interests | 9,508,328 | ||||
Other component of equity | 2,431,688 | ||||
Reduction of deficit | $ 7,134,364 | ||||
Subsequent Events [Member] | Top of range [member] | |||||
Subsequent Events [Line Items] | |||||
Amendments to the credit facility | 10,000,000 | ||||
Percentage of interest | 100% | ||||
Subsequent Events [Member] | Bottom of range [member] | |||||
Subsequent Events [Line Items] | |||||
Amendments to the credit facility | 5,000,000 | ||||
Percentage of interest | 60% | ||||
Subsequent Events [Member] | Tranche A [Member] | |||||
Subsequent Events [Line Items] | |||||
Amendments to the credit facility | 2,500,000 | ||||
Subsequent Events [Member] | DE-SPAC [Member] | |||||
Subsequent Events [Line Items] | |||||
Amendments to the credit facility | $ 0 | ||||
Business Combination [Member] | Class A Ordinary Shares [Member] | |||||
Subsequent Events [Line Items] | |||||
Prospector shares (in Shares) | shares | 1,338,616 | 1,338,616 |
Subsequent Events (Details) - S
Subsequent Events (Details) - Schedule of Fair Value of the Elements Transactions | Sep. 30, 2023 shares | |
Subsequent Events [Line Items] | ||
Fair value of consideration transferred | 65,372,812 | |
Total fair value of assets acquired and liabilities assumed | 6,233,240 | |
Listing expense | 59,139,572 | |
Common Shares [Member] | ||
Subsequent Events [Line Items] | ||
Fair value of consideration transferred | 55,257,187 | |
Class A Non-Voting Special Shares [Member] | ||
Subsequent Events [Line Items] | ||
Fair value of consideration transferred | 10,115,625 | |
Cash [Member] | ||
Subsequent Events [Line Items] | ||
Total fair value of assets acquired and liabilities assumed | 19,477,645 | |
Accounts Payable and Accrued Liabilities [Member] | ||
Subsequent Events [Line Items] | ||
Total fair value of assets acquired and liabilities assumed | (11,497,830) | |
Warrant Liability [Member] | ||
Subsequent Events [Line Items] | ||
Total fair value of assets acquired and liabilities assumed | (1,746,575) | [1] |
[1]Warrant liability includes Public Warrants, Private Warrants and Vesting Sponsor Warrants. |
Subsequent Events (Details) -_2
Subsequent Events (Details) - Schedule of Fair Value of the Elements Transactions (Parentheticals) | Sep. 30, 2023 shares |
Common Shares [Member] | |
Subsequent Events [Line Items] | |
Fair value of reconciles consideration transferred | 8,770,982 |
Class A Non-Voting Special Shares [Member] | |
Subsequent Events [Line Items] | |
Fair value of reconciles consideration transferred | 2,031,250 |