Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.24.2.u1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Cash flows from operating activities:    
Net income (loss) $ 333,763 $ (4,315,993)
Adjustments to reconcile net loss to net cash used in operating activities:    
Asset impaired 2,000,000 0
Loss on long term asset 1,572,193 0
Other non-cash (income) expense (195,000) 171,744
Stock issued for services 0 2,278
Stock issued for compensation 0 7,334
Stock-based compensation 674,693 638,072
Change in fair value of warrant liability (3,343,000) 0
Change in fair value of derivative liability (586,000) 0
Change in fair value of convertible note receivable (1,089,000) 0
Change in fair value of warrant asset (1,818,000) 0
Change in assets and liabilities:    
Increase in prepaid expenses and other current assets (152,119) (13,509)
Increase (decrease) in accounts payable 261,090 (242,948)
Increase (decrease) in accrued expenses 189,923 (40,709)
Net cash used in operating activities (2,151,457) (3,793,731)
Cash flows from investing activities:    
Investment - note receivable and warrants (5,000,000) 0
Net cash used in investing activities (5,000,000) 0
Cash flows from financing activities:    
Repurchase of common stock, net of excise tax (28,197,617) (13,560,623)
Proceeds from issuance of preferred stock, net of transaction costs 33,650,075 0
Redemption of preferred stock (16,160,531) 0
Proceeds from warrant exercise 70 880
Net cash used in financing activities (10,708,003) (13,559,743)
Effect of currency rate exchange on cash and cash equivalents (508) (7,246)
Net decrease in cash and cash equivalents (17,859,968) (17,360,720)
Cash and cash equivalents at beginning of the year 68,039,936 85,400,656
Cash and cash equivalents at end of the year 50,179,968 68,039,936
Supplemental disclosure of cash flows information:    
Cash paid during the year for income taxes 1,600 0
Supplemental schedule of non-cash investing and financing activities:    
Non-cash derivative liability at initial fair value 2,770,000 0
Non-cash warrant liability at initial fair value 14,127,000 0
Reclassification of Series B Convertible Preferred Stock and dividends to current liability 22,457,227 0
Accretion of discounts to redemption value of Series B Preferred Stock 15,053,521 0
Excise tax accrued on repurchase of common stock $ 281,976 $ 0