Company: ZRCN
Filing Date: 2025-09-10
Form Type: 10-K
Source: 0001641172-25-027037
Chunk: 842

Company: ZRCN Inc.
Filing Date: 2025-09-10
Form: 10-K
Item: Item 7A
Chunk 842
---
 of March 31, 2025.

During
the year ended March 31, 2025, the Company recognized $0.1 million in stock based compensation, included in general and administrative
expenses in the accompanying statements of 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