Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Apr. 30, 2021
Apr. 30, 2020
Cash flows from operating activities:    
Net loss $ (3,551,236) $ (3,826,888)
Adjustments to reconcile net loss to net cash used in operating activities:    
Gain on forgiveness of Paycheck Protection Program loan (75,200) 0
Stock issued for services 70,326 473,141
Stock issued for compensation 194,261 368,650
Stock-based compensation - options 176,568 379,377
Change in operating assets and liabilities:    
(Increase) decrease in prepaid expenses and other current assets 69,653 (4,636)
Increase (decrease) in accounts payable (13,581) 63,958
Increase (decrease) in accrued expenses (201,680) 208,025
Net cash used in operating activities (3,330,889) (2,338,373)
Cash flows from investing activities:    
Net cash used in investing activities 0 0
Cash flows from financing activities:    
Proceeds from sale of Series A Preferred Stock 0 1
Repurchase of Series A Preferred Stock 0 (1)
Use of funds for payment of insurance financing loan (62,440) (12,352)
Proceeds from Small Business Administration - Paycheck Protection Program 0 75,200
Proceeds from sale of common stock, net of issuance costs 4,699,247 2,663,000
Net cash provided by financing activities 4,636,807 2,725,848
Effect of currency rate exchange on cash 1,327 (7,867)
Net increase in cash 1,307,245 379,608
Cash at beginning of the year 894,861 515,253
Cash at end of the year 2,202,106 894,861
Supplemental disclosures of cash flows information:    
Cash paid during the year for income taxes 800 800
Cash paid during the year for interest expense $ 2,267 $ 453