Biotricity Inc. ownership update: Ionic Ventures, Ionic Management, Brendan O'Neil and Keith Coulston report beneficial ownership of 3,096,987 shares of common stock, representing 9.99% of the class based on February 11, 2026 outstanding shares. The position includes 532,757 directly or indirectly held common shares and conversion rights from 335 shares of Series B Convertible Preferred Stock that could produce additional "Conversion Shares" subject to a 9.99% Blocker in the Certificate of Designations.
The filing explains conversion mechanics: up to $2,250,000 of Preferred Stock could convert into 9,533,898 Conversion Shares at an $0.236 Alternate Conversion Price as of March 31, 2026, but the 9.99% blocker and limits on Conversion Notices constrain how many conversion shares are deemed beneficially owned for reporting. Shared voting and dispositive power over the reported shares is attributed to Ionic, Ionic Management, Mr. O'Neil and Mr. Coulston.
Positive
None.
Negative
None.
Insights
Holders report shared control of a near-10% stake and conversion constraints.
The cover pages show Ionic and affiliated managers hold 3,096,987 shares with 9.99% ownership based on February 11, 2026. The filing ties beneficial ownership to both issued common shares and conversion rights from Series B Preferred Stock.
The filing repeatedly preserves the 9.99% Blocker in the Certificate of Designations and explains administrative limits on Conversion Notices; these contractual constraints determine how many Conversion Shares are treated as beneficially owned for reporting purposes.
Conversion mechanics create potential overhang but are contractually limited.
The Certificate of Designations provides an Alternate Conversion Price of $0.236 and conversion capacity tied to up to $2,250,000, which mathematically maps to large potential Conversion Shares, but the filing states the 9.99% blocker and Conversion Notice limits restrict immediate conversion into voting shares.
Cash‑flow treatment and timing for conversions are described contractually; subsequent filings or conversions would disclose actual share increases and any change in voting power.
Key Figures
Shares outstanding:28,436,643 sharesBeneficial ownership reported:3,096,987 sharesPercent of class:9.99%+4 more
7 metrics
Shares outstanding28,436,643 sharesas of February 11, 2026 (Form 10-Q)
Beneficial ownership reported3,096,987 sharesreported beneficially owned by Ionic and affiliates
Percent of class9.99%percent of Common Stock based on February 11, 2026 outstanding shares
Direct common shares held532,757 sharescommon stock held by Ionic (directly or indirectly)
Preferred shares held335 sharesSeries B Convertible Preferred Stock held by Ionic
Alternate Conversion Price$0.236 per shareas of March 31, 2026
Potential Conversion Shares (contract cap)9,533,898 sharesconvertible from up to $2,250,000 of Preferred Stock at $0.236 price
Key Terms
Conversion Shares, Certificate of Designations, 9.99% Blocker, Alternate Conversion Measuring Period
4 terms
Conversion Sharesfinancial
"issuable upon conversion of shares of Series B Convertible Preferred Stock"
Certificate of Designationsregulatory
"the Blocker contained in the Certificate of Designations"
A certificate of designations is a formal legal document that spells out the specific rights and rules attached to a particular class of stock, most often preferred shares. It tells investors who gets paid first, what dividends or conversion rights exist, and any voting or liquidation priorities—like an instruction sheet that decides which shareholders get preference if a company pays out or is sold. Those terms directly affect a security’s value and risk.
9.99% Blockerregulatory
"prohibits Ionic from converting ... if beneficial ownership would exceed 9.99%"
Alternate Conversion Measuring Periodfinancial
"limits on Conversion Notices ... based on the five-day Alternate Conversion Measuring Period"
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 7)
BIOTRICITY INC.
(Name of Issuer)
Common Stock, par value $0.001 per share
(Title of Class of Securities)
09074H203
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
09074H203
1
Names of Reporting Persons
Ionic Ventures, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CALIFORNIA
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
3,096,987.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,096,987.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,096,987.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
9.9 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: As more fully described in Item 4 of this Amendment No. 7 to Statement on Schedule 13G (this ''Amendment No. 7''), such shares and percentage are based on 28,436,643 shares of the common stock, par value $0.001 per share, of the issuer (the ''Common Stock'') outstanding as of February 11, 2026, as disclosed in the issuer's Quarterly Report on Form 10-Q for the quarterly period ended December 31, 2025, filed by the issuer with the U.S. Securities and Exchange Commission (''SEC'') on February 11, 2026 (the ''Form 10-Q''). Ownership consists of (i) 532,757 shares of Common Stock held by the reporting person and (ii) an aggregate of up to 2,564,230 shares of Common Stock (the ''Conversion Shares'') issuable upon conversion of shares of Series B Convertible Preferred Stock, par value $0.001 per share, of the issuer (the ''Preferred Stock'') directly held by the reporting person, further conversions of which are subject to a 9.99% beneficial ownership limitation provision (the ''Blocker'') contained in the issuer's Amended Certificate of Designations of the Preferred Stock (the ''Certificate of Designations'').
SCHEDULE 13G
CUSIP Number(s):
09074H203
1
Names of Reporting Persons
Ionic Management, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
3,096,987.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,096,987.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,096,987.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
9.9 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: As more fully described in Item 4 of this Amendment No. 7, such shares and percentage are based on 28,436,643 shares of Common Stock outstanding as of February 11, 2026, as disclosed in the Form 10-Q. Ownership consists of (i) 532,757 shares of Common Stock indirectly held by the reporting person and (ii) an aggregate of up to 2,564,230 Conversion Shares issuable upon conversion of shares of Preferred Stock indirectly held by the reporting person, further conversions of which are subject to the Blocker contained in the Certificate of Designations.
SCHEDULE 13G
CUSIP Number(s):
09074H203
1
Names of Reporting Persons
Brendan O'Neil
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
3,096,987.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,096,987.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,096,987.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
9.9 %
12
Type of Reporting Person (See Instructions)
IN
Comment for Type of Reporting Person: As more fully described in Item 4 of this Amendment No. 7, such shares and percentage are based on 28,436,643 shares of Common Stock outstanding as of February 11, 2026, as disclosed in the Form 10-Q. Ownership consists of (i) 532,757 shares of Common Stock indirectly held by the reporting person and (ii) an aggregate of up to 2,564,230 Conversion Shares issuable upon conversion of shares of Preferred Stock indirectly held by the reporting person, further conversions of which are subject to the Blocker contained in the Certificate of Designations.
SCHEDULE 13G
CUSIP Number(s):
09074H203
1
Names of Reporting Persons
Keith Coulston
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
3,096,987.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,096,987.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,096,987.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
9.9 %
12
Type of Reporting Person (See Instructions)
IN
Comment for Type of Reporting Person: As more fully described in Item 4 of this Amendment No. 7, such shares and percentage are based on 28,436,643 shares of Common Stock outstanding as of February 11, 2026, as disclosed in the Registration Statement. Ownership consists of (i) 532,757 shares of Common Stock indirectly held by the reporting person and (ii) an aggregate of up to 2,564,230 Conversion Shares issuable upon conversion of shares of Preferred Stock indirectly held by the reporting person, further conversions of which are subject to the Blocker contained in the Certificate of Designations.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
BIOTRICITY INC.
(b)
Address of issuer's principal executive offices:
203 Redwood Shores Parkway, Suite 600, Redwood City, California 94065
Item 2.
(a)
Name of person filing:
(i) Ionic Ventures LLC, a California limited liability company ("Ionic");
(ii) Ionic Management, LLC, a Delaware limited liability company ("Ionic Management");
(iii) Brendan O'Neil ("Mr. O'Neil"); and
(iv) Keith Coulston ("Mr. Coulston").
The foregoing persons are hereinafter collectively referred to as the "Reporting Persons". Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party.
The Reporting Persons have entered into a Joint Filing Agreement, a copy of which is filed as Exhibit 1 to the Statement on Schedule 13G filed by the Reporting Persons with the SEC on August 8, 2024 (the "Schedule 13G"), pursuant to which such Reporting Persons have agreed to file this Amendment No. 7 and all subsequent amendments to the Schedule 13G, Amendment No. 1 to the Schedule 13G, filed by the Reporting Persons with the SEC on November 14, 2024 ("Amendment No. 1"), Amendment No. 2 to the Schedule 13G, filed by the Reporting Persons with the SEC on February 4, 2025 ("Amendment No. 2"), Amendment No. 3 to the Schedule 13G, filed by the Reporting Persons with the SEC on May 15, 2025 ("Amendment No. 3"), Amendment No. 4 to the Schedule 13G, filed by the Reporting Persons with the SEC on August 12, 2025 ("Amendment No. 4"), Amendment No. 5 to the Schedule 13G, filed by the Reporting Persons with the SEC on November 14, 2025 ("Amendment No. 5"), and Amendment No. 6 to the Schedule 13G, filed by the Reporting Persons with the SEC on February 4, 2026 ("Amendment No. 6" and, together with Amendment No. 1, Amendment No. 2, Amendment No. 3, Amendment No. 4, and Amendment No. 5, the "Amendments") jointly in accordance with the provisions of Rule 13d-1(k) of the Act.
The filing of this Amendment No. 7 should not be construed in and of itself as an admission by any Reporting Person as to beneficial ownership of the shares of Common Stock reported herein.
(b)
Address or principal business office or, if none, residence:
The principal business address of each of the Reporting Persons is 3053 Fillmore St, Suite 256, San Francisco, CA 94123.
(c)
Citizenship:
Ionic is a limited liability company organized under the laws of the State of California. Ionic Management is a limited liability company organized under the laws of the State of Delaware. Each of Mr. O'Neil and Mr. Coulston is a citizen of the United States.
(d)
Title of class of securities:
Common Stock, par value $0.001 per share
(e)
CUSIP No.:
09074H203
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
This Amendment No. 7 amends and supplements the Schedule 13G, as amended and supplemented by the Amendments. The purpose of this Amendment No. 7 is to update the beneficial ownership information on the cover pages and in Item 4 in each of the Schedule 13G and the Amendments. The information required by this item with respect to each Reporting Person is set forth in Rows 5 through 9 and 11 of the cover pages to this Amendment No. 7 and is incorporated herein by reference for each such Reporting Person.
The ownership percentages reported are based on (i) 28,436,643 shares of Common Stock outstanding as of February 11, 2026, as disclosed in the Form 10-Q, and (ii) up to 2,564,230 shares of Common Stock issuable upon conversion of shares of the Preferred Stock held by Ionic, further conversions of which are subject to the 9.99% Blocker contained in the Certificate of Designations. Ionic holds (i) 532,757 shares of Common Stock and (ii) 335 shares of Preferred Stock. Pursuant to the terms of the Certificate of Designations, within sixty days of the last date of the period to which this Amendment No. 7 relates, up to an aggregate of $2,250,000 of such shares of Preferred Stock are convertible into up to 9,533,898 shares of Common Stock, based on an Alternate Conversion Price (as defined in the Certificate of Designations) of $0.236 per share as of March 31, 2026, of which 6,969,668 Conversion Shares are not deemed beneficially owned by Ionic as a result of the triggering of the 9.99% Blocker contained in the Certificate of Designations, which prohibits Ionic from converting its shares of Preferred Stock into Conversion Shares if, as a result of such conversion, the holder, together with its affiliates and any persons acting as a group together with such holder or any of such affiliates, would beneficially own more than 9.99% of the total number of shares of Common Stock then issued and outstanding immediately after giving effect to such conversion.
In addition, an aggregate of $1,100,000 of shares of Preferred Stock convertible into 4,661,016 Conversion Shares (based on an Alternate Conversion Price of $0.236 per share) are not deemed beneficially owned by Ionic as a result of the limitation imposed on the number of Conversion Notices (as defined in the Certificate of Designations) that may be delivered by Ionic within sixty days of March 31, 2026 based on the five-day Alternate Conversion Measuring Period (as defined in the Certificate of Designations).
Consequently, Ionic is the beneficial owner of 3,096,987 shares of Common Stock (the "Shares"). Ionic has the power to dispose of and the power to vote the Shares beneficially owned by it, which power may be exercised by its manager, Ionic Management. Each of the managers of Ionic Management, Mr. O'Neil and Mr. Coulston, has shared power to vote and/or dispose of the Shares beneficially owned by Ionic and Ionic Management. Neither Mr. O'Neil nor Mr. Coulston directly owns the Shares. By reason of the provisions of Rule 13d-3 of the Act, each of Mr. O'Neil and Mr. Coulston may be deemed to beneficially own the Shares which are beneficially owned by each of Ionic and Ionic Management, and Ionic Management may be deemed to beneficially own the Shares which are beneficially owned by Ionic.
(b)
Percent of class:
(A) Ionic: 9.99 %
(B) Ionic Management: 9.99 %
(C) Mr. Coulston: 9.99 %
(D) Mr. O'Neil: 9.99 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
(A) Ionic: 0.00
(B) Ionic Management: 0.00
(C) Mr. Coulston: 0.00
(D) Mr. O'Neil: 0.00
(ii) Shared power to vote or to direct the vote:
(A) Ionic: 3,096,987.00
(B) Ionic Management: 3,096,987.00
(C) Mr. Coulston: 3,096,987.00
(D) Mr. O'Neil: 3,096,987.00
(iii) Sole power to dispose or to direct the disposition of:
(A) Ionic: 0.00
(B) Ionic Management: 0.00
(C) Mr. Coulston: 0.00
(D) Mr. O'Neil: 0.00
(iv) Shared power to dispose or to direct the disposition of:
(A) Ionic: 3,096,987.00
(B) Ionic Management: 3,096,987.00
(C) Mr. Coulston: 3,096,987.00
(D) Mr. O'Neil: 3,096,987.00
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group.
See Exhibit 1 filed with the Schedule 13G.
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Ionic Ventures, LLC
Signature:
/s/ Keith Coulston
Name/Title:
Keith Coulston, Manager of Ionic Management, LLC, Manager of Ionic Ventures, LLC
Date:
05/12/2026
Ionic Management, LLC
Signature:
/s/ Keith Coulston
Name/Title:
Keith Coulston, Manager
Date:
05/12/2026
Brendan O'Neil
Signature:
/s/ Brendan O'Neil
Name/Title:
Brendan O'Neil
Date:
05/12/2026
Keith Coulston
Signature:
/s/ Keith Coulston
Name/Title:
Keith Coulston
Date:
05/12/2026
Comments accompanying signature: LIST OF EXHIBITS Exhibit No. 1 - Joint Filing Agreement, dated August 8, 2024 (incorporated by reference to Exhibit 1 to the Schedule 13G filed by the Reporting Persons with the SEC on August 8, 2024).
What stake does Ionic Ventures hold in BIOTRICITY (BTCY)?
Ionic Ventures reports beneficial ownership of 3,096,987 shares, equal to 9.99% of common stock based on February 11, 2026. This figure counts both held common shares and conversion rights limited by contractual blockers.
How many common shares were outstanding as of the filing reference date?
The filing cites 28,436,643 shares of Common Stock outstanding as of February 11, 2026, per the issuer's Form 10-Q for the period ended December 31, 2025.
What preferred holdings and conversion terms are disclosed by the reporting persons?
Ionic holds 335 shares of Series B Convertible Preferred Stock convertible under terms that reference an $0.236 Alternate Conversion Price and potential conversion amounts tied to up to $2,250,000 of Preferred Stock.
What is the '9.99% Blocker' described in the Amendment No. 7?
The '9.99% Blocker' in the Certificate of Designations prevents conversion of Preferred Stock if conversion would cause the holder and affiliates to beneficially own more than 9.99% of Common Stock immediately after conversion.
Are all potential Conversion Shares counted as beneficially owned now?
No. The filing states an aggregate of Conversion Shares are not deemed beneficially owned because the 9.99% Blocker and limits on Conversion Notices restrict how many Conversion Shares are included in the reported beneficial ownership total.
