Company: ZRCN
Filing Date: 2025-09-10
Form Type: 10-K
Source: 0001641172-25-027037
Chunk: 618

Company: ZRCN Inc.
Filing Date: 2025-09-10
Form: 10-K
Item: Item 3
Chunk 618
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 operations and comprehensive income (loss). As of March 31, 2025 there was $0.8 million of
unrecognized share based compensation expense related to unvested stock options over a weighted average term of 3.4 years.

The
assumptions used to calculate the fair value of the options are summarized as follows:

 Schedule
of Fair Value Assumptions of The Options

    March
    31, 2025
  
    Volatility 
     36%
                                            - 75%
  
    Risk-free rate 
     3.5%
                                            - 4.6%
  
    Expected life (in years) 
     3
                                            - 5 
  
    Stock price 
    $0.75
                                       - 0.83 
  
    Exercise price 
    $0.75
                                       - 0.83 

    F-22

ZRCN
                                            Inc.

NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR
THE YEARS ENDED MARCH 31, 2025 AND 2024

During
the year ended March 31, 2025, the Company issued common shares to a consultant, with each issuance valued at less than $0.1 million
at the following dates:

●On
                                            June 30, 2024, the Company issued 25,000 common shares with a value of approximately
                                            $22,000;

 ●On
                                            July 17, 2024, the Company issued an additional 8,329 common shares with a value of approximately
                                            $7,000;
     
 ●On
                                            October 24, 2024, the Company issued an additional 24,999 common shares with a value of approximately
                                            $19,000;
     
 ●On
                                            January 15, 2025, the Company issued an additional 24,999 common shares with a value of approximately
                                            $19,000;
     
 ●Between
                                            January 16, 2025 and February 19, 2025, the Company issued an additional 206,163 common shares
                                            with a value of approximately $0.2 million

As
these common shares were fully vested upon the date of grant, the grant date fair value was expensed in the respective period of the
grant date.

During
the year ended March 31, 2025, the Company made distributions of $0.7 million to certain related