Annual report pursuant to Section 13 and 15(d)

ACCRUED EXPENSES

v3.23.2
ACCRUED EXPENSES
 12 Months Ended
Apr. 30, 2023
Payables and Accruals [Abstract]  
ACCRUED EXPENSES

NOTE 3 – ACCRUED EXPENSES

 

Accrued expenses at April 30, 2023 and 2022 are summarized below: 

           
    2023     2022  
Payroll related costs   $ 112,894     $ 118,062  
R&D costs     287,310       377,155  
Other     58,096       3,793  
Total   $ 458,300     $ 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. There were no unpaid balances as of April 30, 2023 and 2022.