Schedule of deferred tax assets and liabilities |
Schedule of deferred tax assets and liabilities |
|
|
|
|
|
|
|
|
April 30, |
|
|
|
2025 |
|
|
2024 |
|
Deferred tax assets: |
|
|
|
|
|
|
Net operating loss carryforwards |
|
$ |
15,026,112 |
|
|
$ |
14,437,888 |
|
Stock compensation |
|
|
523,822 |
|
|
|
494,130 |
|
Research and development |
|
|
216,831 |
|
|
|
160,452 |
|
Investment in SG Austria |
|
|
439,953 |
|
|
|
469,139 |
|
Intangible asset (diabetes license) |
|
|
559,672 |
|
|
|
596,800 |
|
Other - deferred tax asset |
|
|
147,798 |
|
|
|
77,622 |
|
Total deferred tax assets |
|
|
16,914,188 |
|
|
|
16,236,031 |
|
|
|
|
|
|
|
|
|
|
Deferred tax liabilities: |
|
|
|
|
|
|
|
|
Fair value of derivative liability |
|
|
– |
|
|
|
(174,862 |
) |
Fair value of convertible note receivable |
|
|
(568,067 |
) |
|
|
(324,958 |
) |
Fair value of warrant asset |
|
|
(228,906 |
) |
|
|
(542,491 |
) |
Fair value of investment in TNF |
|
|
(754,512 |
) |
|
|
– |
|
Other - deferred tax liability |
|
|
(140,985 |
) |
|
|
– |
|
Total deferred tax liabilities |
|
|
(1,692,470 |
) |
|
|
(1,042,311 |
) |
|
|
|
|
|
|
|
|
|
Total deferred tax assets |
|
|
15,221,718 |
|
|
|
15,193,720 |
|
Valuation allowance |
|
|
(15,221,718 |
) |
|
|
(15,193,720 |
) |
Net deferred tax assets |
|
$ |
– |
|
|
$ |
– |
|
|
Schedule of provision for income taxes |
Schedule of provision for income taxes |
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|
|
|
|
|
|
|
Years Ended April 30, |
|
|
|
2025 |
|
|
2024 |
|
Federal benefit at statutory rate |
|
$ |
6,437,771 |
|
|
$ |
70,090 |
|
State income taxes, net of Federal taxes |
|
|
2,139,792 |
|
|
|
29,505 |
|
Fair value of warrant liability |
|
|
(2,922,791 |
) |
|
|
(997,551 |
) |
Gain on related party investment |
|
|
(5,986,526 |
) |
|
|
– |
|
Fair value of derivative liability |
|
|
(611,083 |
) |
|
|
– |
|
Redemption of derivative liability |
|
|
(174,862 |
) |
|
|
– |
|
Expiration of warrant asset – Series B |
|
|
(79,743 |
) |
|
|
– |
|
State deferred tax adjustment |
|
|
572,607 |
|
|
|
– |
|
Legal settlement |
|
|
131,226 |
|
|
|
– |
|
Provision related to change in valuation allowance |
|
|
27,998 |
|
|
|
(1,035,621 |
) |
Fair value of warrant asset – Series B |
|
|
385,005 |
|
|
|
– |
|
Expired stock options |
|
|
78,384 |
|
|
|
76,864 |
|
Net valuation allowance for state NOLs |
|
|
(6,748 |
) |
|
|
1,797,207 |
|
Other, net |
|
|
8,970 |
|
|
|
59,506 |
|
Provision for income taxes |
|
$ |
– |
|
|
$ |
– |
|
|