21 results
20-F
2024 FY
Psyence Biomedical Ltd.
31 Jan 24
Annual report (foreign)
5:05pm
For the six months period ended September 30, 2023 and September 30, 2022
Note | Six months ended September 30, 2023 | Six months ended September 30, 2022 | |||||||||
Net loss | (2,156,012) | (873,923) | |||||||||
Non-cash adjustment: | |||||||||||
Share based compensation | 11 | (54,625) | 78,964 | ||||||||
Changes in working capital: | |||||||||||
Other receivables | 176,750 | (76,209) | |||||||||
Prepaids | 83,294 | 6,730 | |||||||||
Accounts payable and accrued liabilities | 6 | (189,904) | 122,690 | ||||||||
Cash used in operating activities | (2,140,497) | (741,748) | |||||||||
Increase in restricted cash | 5 | - | - | ||||||||
Cash used in investing activities | - | - | |||||||||
Amounts advanced from/(to) parent | 193,810 | (1,339,171) | |||||||||
Proceeds received from loan | 959,530 | - | |||||||||
Cash provided from/(used in) financing activities | 1,153,340 | (1,339,171) | |||||||||
Change in cash and cash equivalents | (987,157) | (2,080,919) | |||||||||
Cash and cash equivalents, beginning of period | 1,805,766 | 2,191,095 | |||||||||
Cash and cash equivalents, end of period | 818,609 | 110,176 |
20-F
2024 FY
Psyence Biomedical Ltd.
31 Jan 24
Annual report (foreign)
5:05pm
The following table sets forth the capitalization of the Company on an unaudited pro forma combined basis as of September 30, 2023, after giving effect to the Business Combination and the Financing:
Pro Forma Ownership | Shares | Number of Percent Outstanding | ||||
Rollover equity shares of Psyence Biomedical shareholders | 5,000,000 | 37.34 | % | |||
NCAC Public Shareholders | 119,659 | 0.89 | % | |||
Members of Sponsor | 3,765,071 | 28.12 | % | |||
Sponsor | 2,389,929 | 17.85 | % | |||
Cantor and CCM | 520,000 | 3.88 | % | |||
Financing Investors | 1,300,000 | 9.71 | % | |||
Other Third Party Advisers | 296,000 | 2.21 | % | |||
Total shares outstanding | 13,390,659 | 100 | % |
20-F
2024 FY
Psyence Biomedical Ltd.
31 Jan 24
Annual report (foreign)
5:05pm
The Company incurred the following transactions with related parties during the years ended March 31, 2023 and March 31, 2022:
Key Management Personnel | March 31, 2023 | March 31, 2022 | ||||||
Short term benefits | 593,717 | 610,233 | ||||||
Share based compensation | 174,778 | 295,188 | ||||||
Total | 768,495 | 905,421 |
20-F
2024 FY
Psyence Biomedical Ltd.
31 Jan 24
Annual report (foreign)
5:05pm
FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2023
Ordinary shares | Additional | Total | ||||||||||||||||||||||||||
Class A | Class B | Paid-in | Accumulated | Shareholders’ | ||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Capital | Deficit | Deficit | ||||||||||||||||||||||
Balance, December 31, 2022 | 1,140,000 | $ | 114 | 6,535,000 | $ | 654 | $ | — | (13,895,078) | $ | (13,894,310) | |||||||||||||||||
Accretion of Class A ordinary shares to redemption value | — | — | — | — | — | (733,104) | (733,104) | |||||||||||||||||||||
Net loss | — | — | — | — | — | (24,489) | (24,489) | |||||||||||||||||||||
Balance, March 31, 2023 | 1,140,000 | 114 | 6,535,000 | 654 | — | (14,652,671) | (14,651,903) | |||||||||||||||||||||
Accretion of Class A ordinary shares to redemption value | — | — | — | — | — | (435,345) | (435,345) | |||||||||||||||||||||
Net loss | — | — | — | — | — | (62,843) | (62,843) | |||||||||||||||||||||
Balance, June 30, 2023 | 1,140,000 | 114 | 6,535,000 | 654 | — | (15,150,859) | (15,150,091) | |||||||||||||||||||||
Accretion of Class A ordinary shares to redemption value | — | — | — | — | — | (270,860) | (270,860) | |||||||||||||||||||||
Net loss | — | — | — | — | — | (647,766) | (647,766) | |||||||||||||||||||||
Balance, September 30, 2023 | 1,140,000 | $ | 114 | 6,535,000 | $ | 654 | $ | — | $ | (16,069,485) | $ | (16,068,717) |
20-F
2024 FY
Psyence Biomedical Ltd.
31 Jan 24
Annual report (foreign)
5:05pm
The following table presents the changes in the fair value of Level 3 warrant liabilities:
Private Placement | ||||
Warrants | ||||
Fair value as of December 31, 2022 | $ | 28,500 | ||
Change in fair value | (11,400) | |||
Fair value as of March 31, 2023 (unaudited) | $ | 17,100 | ||
Change in fair value | (11,400) | |||
Fair value as of June 30, 2023 (unaudited) | $ | 5,700 | ||
Change in fair value | 11,400 | |||
Fair value as of September 30, 2023 (unaudited) | $ | 17,100 |
20-F
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