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STOCKHOLDERS’ EQUITY (Tables)
12 Months Ended
Apr. 30, 2024
Equity [Abstract]  
SCHEDULE OF WARRANT LIABILITY

      
Net proceeds on April 10, 2023  $4,550,210 
Less:     
Proceeds allocated to warrant liability   (3,088,500)
Plus:     
Offering cost associated with warrant liability   279,487 
Net proceeds on April 10, 2023 allocated to equity  $1,741,197 
SCHEDULE OF ACTIVITY RESTRICTED STOCK UNITS

A summary of the of changes in restricted stock units outstanding during the years ended April 30, 2024 and 2023, is as follows:

 

   Restricted
Stock Units
   Weighted
Average
Grant-Date
Fair Value
Per Share
 
Balance at April 30, 2022   441,402   $9.57 
Vested and converted into common stock   (7,927)   9.34 
Balance at April 30, 2023   433,475    9.57 
Vested and converted into common stock   -    - 
Balance at April 30, 2024   433,475   $10.31 
SCHEDULE OF STOCK OPTION ACTIVITY

The following is a summary of the Company’s stock option activity during the years ended April 30, 2024 and 2023:

 

   Number of
Options
   Weighted
Average
Exercise
Price
   Weighted
Average
Remaining
Contractual
Life
(Years)
 
Balance at April 30, 2022   148,060   $11.65    2.23 
Granted   140,000    5.02    5.00 
Exercised   —    —    — 
Forfeited   —    —    — 
Cancelled   (95,310)   14.27    — 
Balance at April 30, 2023   192,750    5.54    4.44 
Granted   —    —    — 
Exercised   —    —    — 
Forfeited   —    —    — 
Cancelled   —    —    — 
Balance at April 30, 2024   192,750    5.54    3.44 
                
Options exercisable at end of year   186,200   $5.49      
Options expected to vest   6,550   $6.93      
Weighted average fair value of options granted during the year       $—      
SCHEDULE OF STOCK OPTION VALUATION ASSUMPTION

   For the Year
Ended
April 30, 2023
 
Risk free interest rate   3.53%
Dividend yield   0.00%
Expected volatility   80%
Contractual and expected term (in years)   5.0 
Forfeiture rate   0.00%
SCHEDULE OF STOCK-BASED EXPENSE FOR STOCK OPTION

Stock-based expense for stock options were recorded in the following as reflected in the consolidated statements of operations:

 

  

For the Year
Ended
April 30, 2024

  

For the Year

Ended

April 30, 2023

 
Compensation and related taxes – general and administrative  $29,608   $188,488 
Professional and consulting fees   -    304,520 
Total  $29,608   $493,008 
SCHEDULE OF STOCK WARRANT ACTIVITY

The following is a summary of the Company’s stock warrant activity during the years ended April 30, 2024 and 2023:

 

   Number of Warrants   Weighted Average
Exercise
Price
   Weighted Average Remaining Contractual Life
(Years)
 
Warrants with no Class designation:               
Balance at April 30, 2022   1,909,262   $9.29    4.38 
Granted   870,000    6.16    5.51 
Exercised   —    —    — 
Forfeited   —    —    — 
Canceled   —    —    — 
Balance at April 30, 2023   2,779,262    7.76    4.27 
Granted   1,400,000    4.48    5.47 
Exercised   —    —    — 
Forfeited   —    —    — 
Canceled   —    —    — 
Balance at April 30, 2024   4,179,262    6.66    4.01 
Class A Warrants:               
Balance at April 30, 2022   109,687    11.40    2.22 
Granted   —    —    — 
Exercised   —    —    — 
Forfeited   —    —    — 
Canceled   —    —    — 
Balance at April 30, 2023   109,687    11.40    1.22 
Granted   —    —    — 
Exercised   —    —    — 
Forfeited   —    —    — 
Canceled   —    —    — 
Balance at April 30, 2024   109,687    11.40    0.64 
Total Warrants Outstanding at April 30, 2024   4,288,949   $6.79    3.92 
Warrants exercisable at end of year   2,888,949   $7.90      
Weighted average fair value of warrants granted during the year       $4.48