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v3.25.1
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Jan. 31, 2025
Apr. 30, 2024
Current assets:    
Cash and cash equivalents $ 16,383,460 $ 50,179,968
Marketable equity securities 372,632 0
Prepaid expenses and other current assets 207,362 259,800
Total current assets 16,963,454 50,439,768
Other assets:    
Intangible asset 1,549,427 1,549,427
Investment in preferred stock and warrants – TNF 18,630,000 0
Convertible note receivable – Femasys 3,356,000 2,755,000
Warrant asset – Femasys 3,322,000 5,152,000
Other asset 7,688 7,688
Total other assets 26,865,115 9,464,115
Total Assets 43,828,569 59,903,883
Current liabilities:    
Accounts payable 484,948 389,369
Accrued expenses 709,436 735,199
Accrued Series B convertible preferred stock redemption and dividends 0 6,296,696
Total current liabilities 1,194,384 7,421,264
Other liabilities:    
Warrant liability 2,384,000 10,784,000
Derivative liability 0 2,184,000
Total other liabilities 2,384,000 12,968,000
Total Liabilities 3,578,384 20,389,264
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; shares issued 21,672,095, shares outstanding 6,904,894 as of January 31, 2025, and shares issued 21,672,078, shares outstanding 8,037,624 as of April 30, 2024 2,167 2,167
Additional paid-in capital 181,425,703 185,334,173
Accumulated deficit (96,718,543) (115,625,010)
Treasury stock, at cost, 14,767,201 and 13,634,454 shares as of January 31, 2025, and April 30, 2024, respectively (44,434,656) (42,040,216)
Accumulated other comprehensive loss (24,486) (23,511)
Total stockholders' equity 40,250,185 27,647,603
Total Liabilities, Convertible Preferred Stock and Stockholders' Equity 43,828,569 59,903,883
Series B Preferred Stock [Member]    
Convertible Preferred Stock:    
Convertible preferred stock 0 11,867,016
Series A Preferred Stock [Member]    
Stockholders' equity:    
Preferred stock value $ 0 $ 0

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v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
 3 Months Ended 9 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2025
Jan. 31, 2024
Income Statement [Abstract]        
Revenue $ 0 $ 0 $ 0 $ 0
Operating expenses:        
Research and development costs 118,196 126,732 311,682 313,248
Compensation expense 232,863 620,777 905,680 1,089,934
Director fees 138,000 638,762 414,000 995,715
Legal and professional 230,036 230,772 1,210,277 1,075,073
General and administrative 241,157 251,903 494,359 1,879,822
Total operating expenses 960,252 1,868,946 3,335,998 5,353,792
Loss from operations (960,252) (1,868,946) (3,335,998) (5,353,792)
Other income (expenses):        
Interest income 255,692 881,662 1,185,686 2,651,721
Change in fair value of warrant liability 4,487,000 10,000 8,400,000 2,633,000
Change in fair value of derivative liability 0 636,000 2,184,000 (663,000)
Change in fair value of convertible note receivable (79,000) 138,000 601,000 138,000
Change in fair value of warrant asset - Femasys (596,000) (416,000) (1,830,000) (416,000)
Change in fair value of investment - TNF (6,225,000) 0 (9,765,734) 0
Gain on related party investment - TNF 0 0 21,395,734 0
Unrealized gain on marketable securities 72,632 0 72,632 0
Other expense (400) (253) (852) (2,867)
Total other income, net (2,085,076) 1,249,409 22,242,466 4,340,854
Net income (loss) (3,045,328) (619,537) 18,906,468 (1,012,938)
Preferred stock dividends 0 (781,507) (1,129,759) (1,688,242)
Preferred stock accretion 0 (4,219,069) (3,193,404) (11,995,681)
Net income (loss) attributable to common stockholders $ (3,045,328) $ (5,620,113) $ 14,583,305 $ (14,696,861)
Basic income (loss) per share attributable to common stockholders $ (0.44) $ (0.65) $ 1.67 $ (1.47)
Diluted income (loss) per share attributable to common stockholders $ (0.44) $ (0.65) $ 1.67 $ (1.47)
Weighted average shares outstanding basic 6,960,014 8,606,957 7,487,813 9,991,326
Weighted average shares outstanding diluted 6,960,014 8,606,957 7,487,813 9,991,326

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v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 9 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Cash flows from operating activities:    
Net income (loss) $ 18,906,468 $ (1,012,938)
Adjustments to reconcile net income (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
Stock-based compensation 414,693 674,693
Unrealized gain on marketable equity securities (72,632) 0
Change in fair value of warrant liability (8,400,000) (2,633,000)
Change in fair value of derivative liability (2,184,000) 663,000
Change in fair value of convertible note receivable (601,000) (138,000)
Change in fair value of warrant asset – Femasys 1,830,000 416,000
Change in fair value of investment – TNF 9,765,734 0
Change in assets and liabilities:    
(Increase) decrease in prepaid expenses and other current assets 52,438 (190,081)
Increase in accounts payable 95,578 355,918
Increase (decrease) in accrued expenses (49,470) 45,909
Net cash used in operating activities (1,937,925) (1,818,499)
Cash flows from investing activities:    
Investment in preferred stock and warrants (7,000,000) 0
Investment in 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 (2,370,733) (27,022,987)
Proceeds from issuance of preferred stock 0 33,650,075
Redemption of preferred stock (22,486,875) (6,638,197)
Proceeds from warrant exercise 0 70
Net cash used in financing activities (24,857,608) (11,039)
Effect of currency rate exchange on cash and cash equivalents (975) (70)
Net decrease in cash and cash equivalents (33,796,508) (6,829,608)
Cash and cash equivalents at beginning of the period 50,179,968 68,039,936
Cash and cash equivalents at end of the period 16,383,460 61,210,328
Supplemental disclosure of cash flows information:    
Cash paid during the periods for income taxes 0 1,600
Supplemental disclosure 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
Reclassification of Series B Convertible Preferred Stock and dividends to current liability 16,190,179 4,095,271
Accretion of discounts to redemption value of Series B Preferred Stock 3,193,404 7,733,130
Excise tax accrued on repurchase of common stock $ 23,707 $ 266,223

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