Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Apr. 30, 2025
Apr. 30, 2024
Cash flows from operating activities:    
Net income $ 30,656,050 $ 333,763
Adjustments to reconcile net loss to net cash used in operating activities:    
Gain on related party investment - TNF (21,395,734) 0
Non-cash interest income (300,000) 0
Non-cash warrant liability 469,000 0
Asset impaired 0 2,000,000
Loss on long term asset 0 1,572,193
Other non-cash income 0 (195,000)
Stock-based compensation 478,637 674,693
Unrealized gain on marketable equity securities (66,316) 0
Change in fair value of warrant liability (10,446,000) (3,343,000)
Change in fair value of derivative liability (2,184,000) (586,000)
Change in fair value of convertible note receivable - Femasys (941,000) (1,089,000)
Change in fair value of warrant assets - Femasys 2,091,000 (1,818,000)
Change in fair value of investment - TNF (5,063,950) 0
Change in fair value of warrants - TNF 2,367,684 0
Change in assets and liabilities:    
(Increase) decrease in prepaid expenses and other current assets 36,041 (152,119)
Increase in accounts payable 9,835 261,090
Increase in accrued expenses 1,310,457 189,923
Net cash used in operating activities (2,978,296) (2,151,457)
Cash flows from investing activities:    
Investment in preferred stock and warrants (7,000,000) 0
Investment – convertible note receivable and warrants 0 (5,000,000)
Net cash used in investing activities (7,000,000) (5,000,000)
Cash flows from financing activities:    
Repurchase of common stock, net (2,542,276) (28,197,617)
Proceeds from issuance of preferred stock, net of transaction costs 0 33,650,075
Redemption of preferred stock (22,486,875) (16,160,531)
Proceeds from warrant exercise 0 70
Net cash used in financing activities (25,029,151) (10,708,003)
Effect of currency rate exchange on cash and cash equivalents (358) (508)
Net decrease in cash and cash equivalents (35,007,805) (17,859,968)
Cash and cash equivalents at beginning of the year 50,179,968 68,039,936
Cash and cash equivalents at end of the year 15,172,163 50,179,968
Supplemental disclosure of cash flows information:    
Cash paid during the year for income taxes 0 1,600
Supplemental schedule of non-cash investing and financing activities:    
Non-cash derivative liability at initial fair value 0 2,770,000
Non-cash warrant liability at initial fair value 0 14,127,000
Accrued Series B Convertible Preferred Stock dividends 22,457,227
Series B Convertible Preferred stock dividends 1,129,759 0
Accretion of discounts to redemption value of Series B Preferred Stock 3,193,404 15,053,521
Excise tax accrued on repurchase of common stock $ 25,424 $ 281,976