ACCRUED EXPENSES

12 Months Ended

Apr. 30, 2022

Payables and Accruals [Abstract]

ACCRUED EXPENSES

NOTE 3 – ACCRUED EXPENSES

Accrued expenses at April 30, 2022, and 2021, are summarized below: 

	2022		2021
Payroll related costs	$	118,062	$	490,904
R&D costs		377,155		–
Director and Officer insurance financing		–		50,805
Other		3,793		10,808
Total	$	499,009	$	552,517

The Director and Officer Insurance Policy for the policy term of September 8, 2021, through September 8, 2022, was paid in full on August 8, 2021. The Company financed the Director and Officer Insurance Policy for the policy term of March 8, 2021, through September 8, 2021. The financing agreement had an interest rate of 4.85% per annum and required eight monthly payments of $12,829. The unpaid balances as of April 30, 2022 and 2021, of $0 and $50,805, respectively, are included in accrued expenses.