Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENTS (Tables)

v3.23.3
FAIR VALUE MEASUREMENTS (Tables)
3 Months Ended
Jul. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
FAIR VALUE MEASUREMENTS (Details - Fair value Level 3)

FAIR VALUE MEASUREMENTS (Details - Fair value Level 3)

Description   Level     July 31, 2023     April 30, 2023  
Liabilities:                        
Warrant liability (Note 5)     3     $ 15,579,000     $  
Bifurcated embedded derivative (Note 11)     3     $ 3,300,000     $  
Fair Value, Recurring [Member] | Warrant Liability [Member]  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
FAIR VALUE MEASUREMENTS (Details - Schedule of changes in fair value)

FAIR VALUE MEASUREMENTS (Details - Schedule of changes in fair value)

The following table sets forth a summary of the change in the fair value of the warrant liability that is measured at fair value on a recurring basis.

 

    July 31, 2023  
Balance on April 30, 2023   $  
Issuance of warrants     14,127,000  
Change in fair value of warrant liability     1,452,000  
Balance on July 31, 2023   $ 15,579,000  

 

The following table sets forth a summary of the change in the fair value of the bifurcated embedded derivative liability that is measured on a recurring basis:

 

    July 31, 2023  
Balance on April 30, 2023   $  
Issuance of convertible preferred stock with bifurcated embedded derivative     2,770,000  
Change in fair value of bifurcated embedded derivative     530,000  
Balance on July 31, 2023   $ 3,330,000