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, 2022
Apr. 30, 2021
Cash flows from operating activities:    
Net loss $ (4,239,161) $ (3,551,236)
Adjustments to reconcile net loss to net cash used in operating activities:    
Gain on forgiveness of Paycheck Protection Program loan 0 (75,200)
Stock issued for services 34,846 70,326
Stock issued for compensation 33,146 194,261
Stock-based compensation - options 44,810 176,568
Change in operating assets and liabilities:    
Increase (decrease) in prepaid expenses and other current assets (21,041) 69,653
Decrease in other assets (316) 0
Increase (decrease) in accounts payable 33,100 (13,581)
Decrease in accrued expenses (2,703) (201,680)
Net cash used in operating activities (4,117,319) (3,330,889)
Cash flows from investing activities:    
Net cash used in investing activities 0 0
Cash flows from financing activities:    
Payment of insurance financing loan (50,805) (62,440)
Proceeds from sale of common stock, net of issuance costs 87,362,049 4,699,247
Net cash provided by financing activities 87,311,244 4,636,807
Effect of currency rate exchange on cash and cash equivalents 4,625 1,327
Net increase in cash and cash equivalents 83,198,550 1,307,245
Cash and cash equivalents at beginning of the year 2,202,106 894,861
Cash and cash equivalents at end of the year 85,400,656 2,202,106
Supplemental disclosure of cash flows information:    
Cash paid during the years for income taxes 1,600 800
Cash paid during the years for interest expense 509 2,267
Non-cash equity issuance costs $ 34,477,000 $ 0