Quarterly report pursuant to Section 13 or 15(d)

ACCRUED EXPENSES

v3.22.2.2
ACCRUED EXPENSES
 3 Months Ended
Jul. 31, 2022
Payables and Accruals [Abstract]  
ACCRUED EXPENSES

NOTE 3 – ACCRUED EXPENSES

 

Accrued expenses at July 31, 2022, and April 30, 2022, are summarized below: 

           
    July 31, 2022     April 30, 2022  
Payroll related costs   $ 148,581     $ 118,062  
R&D costs     377,155       377,155  
Other     4,595       3,792  
Total   $ 530,331     $ 499,009  

 

The Director and Officer Insurance Policy for the policy term of September 8, 2021, through September 8, 2022, was paid in full on August 8, 2021. The Company financed the Director and Officer Insurance Policy for the policy term of March 8, 2021, through September 8, 2021. The financing agreement had an interest rate of 4.85% per annum and required eight monthly payments of $12,829. The unpaid balances as of July 31, 2022, and 2021, of $0 and $12,786, respectively, are included in accrued expenses.