WARRANT LIABILITY (Tables)

9 Months Ended

Jan. 31, 2024

Warrant Liability

SCHEDULE OF KEY INPUTS FOR THE WARRANT LIABILITY

The key inputs for the warrant liability were as follows as of January 31, 2024:

Key Valuation Inputs
Expected term (years)		4.69
Annualized volatility		77.3	%
Volatility if fundamental transaction occurs		100.00	%
Risk-free interest rate		3.93	%
Stock price	$	3.70
Dividend yield		0.00	%
Exercise price	$	6.16
Probability of fundamental transaction		90	%
Date of fundamental transaction		0.25 years to 4.70 years

The key inputs for the warrant liability were as follows as of April 30, 2023:

Key Valuation Inputs
Expected term (years)		5.45
Annualized volatility		81.4	%
Volatility if fundamental transaction occurs		100.00	%
Risk-free interest rate		3.51	%
Stock price	$	4.31
Dividend yield		0.00	%
Exercise price	$	6.16
Probability of fundamental transaction		90	%
Date of fundamental transaction		1.00 years to 5.45 years

SCHEDULE OF CHANGES IN FAIR VALUE OF LEVEL THREE WARRANT LIABILITY

The following table sets forth a summary of the changes in the fair value of the Level 3 warrant liability for the nine months ended January 31, 2024:

	Warrant Liability
Fair value as of April 30, 2023	$	4,230,850
Change in fair value		(1,091,350	)
Fair value as of January 31, 2024	$	3,139,500