v3.24.1
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Jan. 31, 2024
Apr. 30, 2023
Current assets:    
Cash and cash equivalents $ 61,210,328 $ 68,039,936
Prepaid expenses and other current assets 297,762 107,681
Total current assets 61,508,090 68,147,617
Other assets:    
Intangibles 3,549,427 3,549,427
Investment in SG Austria 1,572,193 1,572,193
Convertible note receivable 2,012,000 0
Warrant asset 2,710,000 0
Other assets 7,688 7,688
Total other assets 9,851,308 5,129,308
Total Assets 71,359,398 73,276,925
Current liabilities:    
Accounts payable 484,198 128,281
Accrued expenses 774,439 458,300
Accrued Series B convertible preferred stock redemptions and dividends 6,280,102 0
Total current liabilities 7,538,739 586,581
Other liabilities:    
Warrant liability 11,494,000 0
Derivative liability 3,433,000 0
Total other liabilities 14,927,000 0
Total Liabilities 22,465,739 586,581
Commitments and Contingencies (Notes 7 and 9)
Stockholders' equity:    
Preferred stock value 0 0
Common stock, authorized: 200,000,000 shares, $0.0001 par value; 21,672,078 shares issued and 8,521,159 shares outstanding as of January 31, 2024 and 21,602,078 shares issued and 16,793,980 shares outstanding as of April 30, 2023 2,167 2,160
Additional paid-in capital 189,221,416 202,230,583
Accumulated deficit (116,971,711) (115,958,773)
Treasury stock, at cost, 13,150,919 and 4,808,098 shares as of January 31, 2024 and April 30, 2023, respectively (40,853,840) (13,560,623)
Accumulated other comprehensive loss (23,073) (23,003)
Total stockholders' equity 31,374,959 72,690,344
Total Liabilities, Convertible Preferred Stock and Stockholders' Equity 71,359,398 73,276,925
Series B Preferred Stock [Member]    
Convertible Preferred Stock:    
Convertible preferred stock 17,518,700 0
Series A Preferred Stock [Member]    
Stockholders' equity:    
Preferred stock value $ 0 $ 0

Source

v3.24.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
3 Months Ended 9 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2024
Jan. 31, 2023
Income Statement [Abstract]        
Revenue $ 0 $ 0 $ 0 $ 0
Operating expenses:        
Research and development costs 126,732 45,393 313,248 382,662
Compensation expense 620,777 251,556 1,089,934 979,694
Director fees 638,762 795,969 995,715 951,031
Legal and professional 230,772 103,180 1,075,073 2,454,227
General and administrative 251,903 356,885 1,879,822 784,597
Total operating expenses 1,868,946 1,552,983 5,353,792 5,552,211
Loss from operations (1,868,946) (1,552,983) (5,353,792) (5,552,211)
Other income (expenses):        
Interest income 881,662 635,889 2,651,721 1,214,562
Change in fair value of warrant liability 10,000 0 2,633,000 0
Change in fair value of derivative liability 636,000 0 (663,000) 0
Change in fair value of convertible note receivable 138,000 0 138,000 0
Change in fair value of warrant asset (416,000) 0 (416,000) 0
Other income (expense), net (253) 152,958 (2,867) 147,994
Total other income, net 1,249,409 788,847 4,340,854 1,362,556
Net loss (619,537) (764,136) (1,012,938) (4,189,655)
Preferred stock dividends (781,507) 0 (1,688,242) 0
Preferred stock accretion (4,219,069) 0 (11,995,681) 0
Net loss attributable to common stockholders $ (5,620,113) $ (764,136) $ (14,696,861) $ (4,189,655)

Source

v3.24.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Cash flows from operating activities:    
Net loss $ (1,012,938) $ (4,189,655)
Adjustments to reconcile net loss to net cash used in operating activities:    
Other non-cash expense 0 165,868
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 (2,633,000) 0
Change in fair value of derivative liability 663,000 0
Change in fair value of convertible note receivable (138,000) 0
Change in fair value of warrant asset 416,000 0
Change in assets and liabilities:    
Increase in prepaid expenses and other current assets (190,081) (86,836)
Increase in accounts payable 355,918 74,706
Increase (decrease) in accrued expenses 45,909 (117,110)
Net cash used in operating activities (1,818,499) (3,505,343)
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 (27,022,987) (9,254,005)
Proceeds from issuance of preferred stock, net of transaction costs 33,650,075 0
Redemption of preferred stock (6,638,197) 0
Proceeds from warrant exercise 70 880
Net cash used in financing activities (11,039) (9,253,125)
Effect of currency rate exchange on cash and cash equivalents (70) (1,970)
Net decrease in cash and cash equivalents (6,829,608) (12,760,438)
Cash and cash equivalents at beginning of the periods 68,039,936 85,400,656
Cash and cash equivalents at end of the periods 61,210,328 72,640,218
Supplemental disclosure of cash flows information:    
Cash paid during the periods 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 12,918,299 0
Accretion of discounts to redemption value of Series B Preferred Stock 11,995,681 0
Excise tax accrued on repurchase of common stock $ 270,230 $ 0

Source