XML 71 R29.htm IDEA: XBRL DOCUMENT v3.24.2
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