Intangible Assets

6 Months Ended

Oct. 31, 2025

Intangible Assets [Abstract]

Intangible assets

6. Intangible assets

Intangible assets consisted of the following:

	October 31, 2025		April 30, 2025
Liquid license	$	17,482	$	17,482
Software systems (a)		2,950,000		2,950,000
Trademark (b)		5,194,000		5,194,000
Total intangible assets		8,161,482		8,161,482
Accumulated amortization		1,021,220		741,670
Intangible assets, net	$	7,140,262	$	7,419,812

(a) Software systems

On October 30, 2023, the Company entered a System Purchase and Implementation Consulting Agreement with Drem Consulting Pte. Ltd. for purchasing a merchandise display planning and management system for $1.5 million. The system uses advanced technology such as artificial intelligence, IoT (Internet of Things), client computing, etc. to optimize shelf display and planning, inventory control and customer services. The system is amortized over 10 years.

On November 22, 2023, the Company entered a Supply Chain Management System Purchase Agreement with WSYQR Limited to purchase a supply chain management system for $1.45 million. The system has the necessary software and hardware that was specifically designed for supermarkets application for the key units of 1) data synchronization across the entire supply chain, 2) centralized order processing and fulfillment, 3) refund and return processing, 4) customer complaints handling, and 5) distribution and delivery management and optimization. The system is amortized over 10 years.

On March 30, 2025, the Company sold the use right of software license of above two software to four licensees for a total of $2.6 million.

(b) Trademark

Trademark mainly consisted of 1) a trademark acquired through the acquisition of Maison Monterey Park on June 30, 2022. The fair value of the trademark from the acquisition of Maison Monterey Park at acquisition date was $194,000, to be amortized over 15 years; 2)) a trademark acquired through the acquisition of Lee Lee on April 7, 2024. The fair value of the trademark from the acquisition of Lee Lee at acquisition date was $5,000,000, to be amortized over 20 years.

The amortization expense for the three months ended October 31, 2025 and 2024 was $139,192 and $139,192, respectively. The amortization expense for the six months ended October 31, 2025 and 2024 was $278,967 and $278,967, respectively. The amortization expense for Maison El Monte for the three months ended October 31, 2025 and 2024 was $292 and 292, respectively. The amortization expense for Maison El Monte for the six months ended October 31, 2025 and 2024 was $583 and 583, respectively. Estimated amortization expense for each of the next five years from October 31, 2025 is as follows: $559,099, $559,099, $559,099, $559,099 and $559,099.