Acquisition of Subsidiary (Tables)

3 Months Ended

12 Months Ended

Jul. 31, 2023

Apr. 30, 2023

Acquisition of Subsidiary [Abstract]

Schedule of Fair Values of the Assets Acquired and Liabilities Assumed

The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of acquisition. Goodwill as a result of the acquisition of Maison Monterey Park is calculated as follows:

Total purchase considerations	$	2,500,000
Fair value of tangible assets acquired:
Accounts receivable		79,651
Due from related party		25,000
Property and equipment		448,932
Security deposit		161,945
Inventory		872,084
Deferred tax asset		10,545
Operating lease right-of-use assets		4,680,216
Intangible assets (trademark) acquired		194,000
Total identifiable assets acquired		6,472,373
Fair value of liabilities assumed:
Bank overdraft		(281,940	)
Accounts payable		(865,769	)
Contract liabilities		(10,369	)
Income tax payable		(183,262	)
Accrued liability and other payable		(85,789	)
Tenant Security deposit		(32,200	)
Operating lease liabilities		(4,680,967	)
Deferred tax liability		(54,288	)
Total liabilities assumed		(6,194,584	)
Net identifiable assets acquired		277,789
Goodwill as a result of the acquisition	$	2,222,211

The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of acquisition. Goodwill as a result of the acquisition of Maison Monterey Park is calculated as follows:

Total purchase considerations	$	2,500,000
Fair value of tangible assets acquired:
Accounts receivable		79,651
Due from related party		25,000
Property and equipment		448,932
Security deposit		161,945
Inventory		872,084
Deferred tax asset		10,545
Operating lease right-of-use assets		4,680,216
Intangible assets (trademark) acquired		194,000
Total identifiable assets acquired		6,472,373
Fair value of liabilities assumed:
Bank overdraft		(281,940	)
Accounts payable		(865,769	)
Contract liabilities		(10,369	)
Income tax payable		(183,262	)
Accrued liability and other payable		(85,789	)
Tenant Security deposit		(32,200	)
Operating lease liabilities		(4,680,967	)
Deferred tax liability		(54,288	)
Total liabilities assumed		(6,194,584	)
Net identifiable assets acquired		277,789
Goodwill as a result of the acquisition	$	2,222,211

Schedule of Indicative of Future Consolidated Results

The pro forma results are not necessarily indicative of the actual results that would have occurred had the acquisitions been completed as of the beginning of the periods presented, nor are they necessarily indicative of future consolidated results.

	For the Three Months Ended July 31, 2022
	(Unaudited)
Revenue	$	14,232,869
Operating costs and expenses		14,469,401
Loss from operations		(236,532	)
Other income		8,386
Income tax expense		(17,926	)
Net loss	$	(246,072	)

The pro forma results are not necessarily indicative of the actual results that would have occurred had the acquisitions been completed as of the beginning of the periods presented, nor are they necessarily indicative of future consolidated results.

	For the Year Ended April 30, 2023
	(Unaudited)
Revenue	$	58,222,292
Operating costs and expenses		57,707,072
Income from operations		515,220
Other income		1,931,990
Income tax expense		(336,486	)
Net income	$	2,110,724

	For the Year Ended April 30, 2022
	(Unaudited)
Revenue	$	55,822,617
Operating costs and expenses		56,843,320
Loss from operations		(1,020,703	)
Other income		389,358
Income tax expense		(28,538	)
Net loss	$	(659,883	)