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, 2023
Apr. 30, 2022
Cash flows from operating activities:    
Net loss $ (4,315,993) $ (4,239,161)
Adjustments to reconcile net loss to net cash used in operating activities:    
Other non-cash expenses 171,744 0
Stock issued for services 2,278 34,846
Stock issued for compensation 7,334 33,146
Stock-based compensation - options 638,072 44,810
Change in operating assets and liabilities:    
Decrease in prepaid expenses and other current assets (13,509) (21,041)
Decrease in other assets 0 (316)
Increase (decrease) in accounts payable (242,948) 33,100
Decrease in accrued expenses (40,709) (2,703)
Net cash used in operating activities (3,793,731) (4,117,319)
Cash flows from investing activities:    
Net cash used in investing activities 0 0
Cash flows from financing activities:    
Payment of insurance financing loan 0 (50,805)
Repurchase of common stock (13,560,623) 0
Proceeds from exercise of warrants 880 0
Proceeds from sale of common stock, net of issuance costs 0 87,362,049
Net cash provided by (used) in financing activities (13,559,743) 87,311,244
Effect of currency rate exchange on cash and cash equivalents (7,246) 4,625
Net increase (decrease) in cash and cash equivalents (17,360,720) 83,198,550
Cash and cash equivalents at beginning of the year 85,400,656 2,202,106
Cash and cash equivalents at end of the year 68,039,936 85,400,656
Supplemental disclosure of cash flows information:    
Cash paid during the years for income taxes 0 1,600
Cash paid during the years for interest expense 0 509
Non-cash equity issuance costs $ 0 $ 34,477,000