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v3.24.3
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Jul. 31, 2024
Apr. 30, 2024
Current assets:    
Cash and cash equivalents $ 32,635,092 $ 50,179,968
Prepaid expenses and other current assets 240,227 259,800
Total current assets 32,875,319 50,439,768
Other assets:    
Intangible asset 1,549,427 1,549,427
Investment in preferred stock – TNF 29,120,000 0
Convertible note receivable – Femasys 3,000,000 2,755,000
Warrant asset – Femasys 3,642,000 5,152,000
Other asset 7,688 7,688
Total other assets 37,319,115 9,464,115
Total Assets 70,194,434 59,903,883
Current liabilities:    
Accounts payable 553,952 389,369
Accrued expenses 684,136 735,199
Accrued Series B convertible preferred stock redemption and dividends 6,234,862 6,296,696
Total current liabilities 7,472,950 7,421,264
Other liabilities:    
Warrant liability 8,700,000 10,784,000
Derivative liability 980,000 2,184,000
Total other liabilities 9,680,000 12,968,000
Total Liabilities 17,152,950 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 21,672,078, shares outstanding 7,717,278 as of July 31, 2024, and shares issued 21,672,078, shares outstanding 8,037,624 as of April 30, 2024 2,167 2,167
Additional paid-in capital 182,723,002 185,334,173
Accumulated deficit (92,203,655) (115,625,010)
Treasury stock, at cost, 13,954,800 and 13,634,454 shares as of July 31, 2024, and April 30, 2024, respectively (42,789,816) (42,040,216)
Accumulated other comprehensive loss (23,328) (23,511)
Total stockholders' equity 47,708,370 27,647,603
Total Liabilities, Convertible Preferred Stock and Stockholders' Equity 70,194,434 59,903,883
Series B Preferred Stock [Member]    
Convertible Preferred Stock:    
Convertible preferred stock 5,333,114 11,867,016
Series A Preferred Stock [Member]    
Stockholders' equity:    
Preferred stock value $ 0 $ 0

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v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
 3 Months Ended
Jul. 31, 2024
Jul. 31, 2023
Income Statement [Abstract]    
Revenue $ 0 $ 0
Operating expenses:    
Research and development costs 96,016 104,483
Compensation expense 389,484 239,998
Director fees 138,000 50,215
Legal and professional 510,556 325,228
General and administrative 134,831 1,355,402
Total operating expenses 1,268,887 2,075,326
Loss from operations (1,268,887) (2,075,326)
Other income (expenses):    
Interest income 547,432 875,878
Change in fair value of warrant liability 2,084,000 (1,452,000)
Change in fair value of derivative liability 1,204,000 (530,000)
Change in fair value of convertible note receivable 245,000 0
Change in fair value of warrant asset – Femasys (1,510,000) 0
Change in fair value of investment – TNF 724,266 0
Gain on related party investment - TNF 21,395,734 0
Other expenses (190) (1,849)
Total other income (expenses), net 24,690,242 (1,107,971)
Net income (loss) 23,421,355 (3,183,297)
Preferred stock dividends (685,801) (319,849)
Preferred stock accretion (2,148,047) (3,272,033)
Net income (loss) attributable to common stockholders $ 20,587,507 $ (6,775,179)

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v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 3 Months Ended
Jul. 31, 2024
Jul. 31, 2023
Cash flows from operating activities:    
Net income (loss) $ 23,421,355 $ (3,183,297)
Adjustments to reconcile net loss to net cash used in operating activities:    
Gain on related party investment – TNF (21,395,734) 0
Stock-based compensation 222,677 0
Warrant issuance costs 0 913,640
Change in fair value of warrant liability (2,084,000) 1,452,000
Change in fair value of derivative liability (1,204,000) 530,000
Change in fair value of convertible note receivable (245,000) 0
Change in fair value of warrant asset – Femasys 1,510,000 0
Change in fair value of investment – TNF (724,266) 0
Change in assets and liabilities:    
Decrease in prepaid expenses and other current assets 19,573 19,031
Increase in accounts payable 164,582 589,849
Increase (decrease) in accrued expenses (58,484) 21,736
Net cash provided by (used in) operating activities (373,297) 342,959
Cash flows from investing activities:    
Investment in preferred stock and warrants (7,000,000) 0
Net cash used in investing activities (7,000,000) 0
Cash flows from financing activities:    
Repurchase of common stock (742,179) (26,457,324)
Proceeds from issuance of preferred stock 0 35,000,000
Payment for issuance costs related to preferred stock 0 (2,263,565)
Redemption of preferred stock (9,429,583) 0
Proceeds from warrant exercise 0 70
Net cash provided by (used in) financing activities (10,171,762) 6,279,181
Effect of currency rate exchange on cash and cash equivalents 183 451
Net increase (decrease) in cash and cash equivalents (17,544,876) 6,622,591
Cash and cash equivalents at beginning of the period 50,179,968 68,039,936
Cash and cash equivalents at end of the period 32,635,092 74,662,527
Supplemental disclosure of cash flows information:    
Cash paid during the periods for income taxes 0 1,600
Supplemental disclosure of cash flows information:    
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 9,367,750 0
Accretion of discounts to redemption value of Series B Preferred Stock 2,148,047 3,272,033
Excise tax accrued on repurchase of common stock $ 7,421 $ 264,573

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