STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Jun. 30, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The options are valued using a Black-Scholes Pricing Model, and Market-based RSUs are valued based on a lattice model, with the following assumptions:

	Granted in Fiscal 2026			Granted in Fiscal 2025
Expected life of options	5 years			5 years
Vested options		100	%		100	%
Risk-free interest rate		3.93	%		5.24	%
Expected volatility		171	%		175	%
Expected dividend yield	Nil			Nil

Nonvested Restricted Stock Shares Activity [Table Text Block]

For the three months ended June 30, 2024, the Company’s common stock-based compensation was approximately $402 thousand, which was accounted for in the Selling, general, and administrative expenses (including research and development). In addition, the Company capitalized common stock-based compensation of approximately $31 thousand in software development costs.

Non-vested shares	Shares (in thousands) (#)			Weighted average grant date fair value ($)
Non-vested shares as of March 31, 2025		5,796			0.64
Granted		1,385			0.31
Vested		(679	)		0.31
Cancelled/forfeited		-			-
Non-vested shares as of June 30, 2025		6,502			0.60

Share-Based Payment Arrangement, Option, Activity [Table Text Block]

Options	Shares (in thousands) (#)		Weighted average grant date fair value ($)		Weighted average exercise price ($)
Options outstanding as of March 31, 2025		3,182		0.25		0.39
Granted		1,600		0.27		0.30
Vested		-		-		-
Cancelled/forfeited		-		-		-
Options outstanding as of June 30, 2025		4,782		0.26		0.29

IGC Pharma, Inc. 10-Q