Note 7 - Stock Options

6 Months Ended

Oct. 31, 2025

Notes to Financial Statements

Share-Based Payment Arrangement [Text Block]

NOTE 7– STOCK OPTIONS

Options issued under the 2011 Stock Option/Restricted Stock Plan

The Company established the 2011 Stock Option/Restricted Stock Plan (the “2011 Plan”). The 2011 Plan is administered by the Board of Directors and provides for the grant of stock options to eligible individual including directors, executive officers and advisors that have furnished bona fide services to the Company not related to the sale of securities in a capital-raising transaction.

The total value of stock option awards is expensed ratably over the vesting period of the employees receiving the awards. As of  October 31, 2025 and April 30, 2025, respectively, there was no unrecognized compensation cost related to stock-based options and awards.  As of October 31, 2025, 2,500,000 options are outstanding with a remaining average term of the 2011 Plan option grants was 0.5 years.  As of October 31, 2025, the weighted average exercise price of the options issued under the 2011 plan was $0.06. 

The aggregate intrinsic value of all options vested and exercisable at October 31, 2025, was $Nil based on the Company’s closing price of $0.039 per common share at October 31, 2025. The Company’s current policy is to issue new shares to satisfy option exercises.