Annual report pursuant to Section 13 and 15(d)

FAIR VALUE MEASUREMENTS (Tables)

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FAIR VALUE MEASUREMENTS (Tables)
12 Months Ended
Apr. 30, 2024
Fair Value Disclosures [Abstract]  
Schedule of fair value of financial liabilities
                 
Description   Level     April 30, 2024     April 30, 2023  
Liabilities:                        
Warrant liability     3     $ 10,784,000     $  
Bifurcated embedded derivative     3     $ 2,184,000     $  
Schedule of change in the fair value of the warrant liability
     
    April 30, 2024  
Balance on April 30, 2023   $  
Issuance of warrants     14,127,000  
Change in fair value of warrant liability     (3,343,000 )
Balance on April 30, 2024   $ 10,784,000  

 

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:

 

    April 30, 2024  
Balance on April 30, 2023   $  
Issuance of convertible preferred stock with bifurcated embedded derivative liability     2,770,000  
Change in fair value of bifurcated embedded derivative     (586,000 )
Balance on April 30, 2024   $ 2,184,000  
Schedule of fair values of financial instruments by class
                 
    Level     April 30, 2024     April 30, 2023  
Financial Assets                        
Convertible note receivable – investment in debt security     3     $ 2,755,000     $  
Warrant asset     3     $ 5,152,000     $