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v3.26.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jul. 31, 2026
Apr. 30, 2026
Current assets:    
Cash and cash equivalents $ 17,738,991 $ 18,603,899
Marketable equity securities 99,462 254,010
Dividends receivable 429,150 240,766
Investment in preferred stock - QCLS - current 12,675,000 18,225,000
Prepaid expenses and other current assets 32,004 96,879
Total current assets 30,974,607 37,420,554
Other assets:    
Warrant asset – QCLS – non current 5,664,000 8,845,000
Warrant asset – Femasys 66,000 480,000
Other assets 7,688 7,688
Total other assets 5,737,688 9,332,688
Total Assets 36,712,295 46,753,242
Current liabilities:    
Accounts payable 390,535 271,102
Accrued expenses 345,656 522,831
Accrued Series C dividends 32,491 32,491
Total current liabilities 768,682 826,424
Other liabilities:    
Warrant liabilities 5,847,000 10,068,000
Derivative liabilities 281,000 878,000
Total other liabilities 6,128,000 10,946,000
Total Liabilities 6,896,682 11,772,424
Commitments and Contingencies (Note 8)  
Temporary Equity:    
Contingently redeemable warrants 417,000 417,000
Total temporary equity 2,307,109 1,685,892
Stockholders’ equity:    
Common stock: authorized 200,000,000 shares, $0.0001 par value; 26,005,715 shares issued and 10,735,649 shares outstanding as of July 31, 2026 and April 30, 2026, respectively 2,602 2,602
Additional paid-in capital 182,011,659 182,716,275
Accumulated deficit (109,474,805) (104,393,614)
Treasury stock, at cost, 15,270,066 shares as of July 31, 2026, and April 30, 2026, respectively (45,009,541) (45,009,541)
Accumulated other comprehensive loss (21,411) (20,796)
Total stockholders’ equity 27,508,504 33,294,926
Total Liabilities, Temporary Equity and Stockholders’ Equity 36,712,295 46,753,242
Series C Preferred Stock [Member]    
Temporary Equity:    
Convertible preferred stock 1,890,109 1,268,892
Series A Preferred Stock [Member]    
Stockholders’ equity:    
Preferred stock value $ 0 $ 0

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v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
 3 Months Ended
Jul. 31, 2026
Jul. 31, 2025
Income Statement [Abstract]    
Revenue $ 0 $ 0
Operating expenses:    
Research and development costs 60,000 95,157
General and administrative 946,708 753,148
Total operating expenses 1,006,708 848,305
Loss from operations (1,006,708) (848,305)
Other income (expense):    
Interest income 166,278 217,793
Dividend income 240,884 0
Change in fair value of warrant liability 4,221,000 243,000
Change in fair value of derivative liability 597,000 0
Change in fair value of convertible note receivable – Femasys 0 912,000
Change in fair value of warrant asset – Femasys (414,000) (1,215,000)
Change in fair value of investment – QCLS (5,550,000) (2,839,000)
Change in fair value of warrant assets – QCLS (3,181,000) (4,832,000)
Gain on legal settlement – re-fair value of warrants 0 106,000
Unrealized loss on marketable securities (154,548) (104,463)
Other expense, net (97) (121)
Total other income (expense), net (4,074,483) (7,511,791)
Income tax benefit (expense) 0 0
Net loss (5,081,191) (8,360,096)
Preferred stock dividends (83,399) 0
Preferred stock accretion (621,217) 0
Net loss attributable to common stockholders $ (5,785,807) $ (8,360,096)
Basic income (loss) per share attributable to common stockholders $ (0.54) $ (1.23)
Diluted income (loss) per share attributable to common stockholders $ (0.54) $ (1.23)
Weighted average shares outstanding basic 10,735,649 6,795,779
Weighted average shares outstanding diluted 10,735,649 6,795,779

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v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 3 Months Ended
Jul. 31, 2026
Jul. 31, 2025
Cash flows from operating activities:    
Net loss $ (5,081,191) $ (8,360,096)
Adjustments to reconcile net loss to net cash used in operating activities:    
Gain on re-fair value of warrants 0 (106,000)
Adjustment from accrued liabilities to warrant liabilities 0 (469,000)
Stock-based compensation - options 0 60,492
Unrealized loss on marketable equity securities 154,548 104,463
Change in fair value of warrant liabilities (4,221,000) (243,000)
Change in fair value of derivative liability (597,000) 0
Change in fair value of convertible note receivable - Femasys 0 (912,000)
Change in fair value of warrant asset – Femasys 414,000 1,215,000
Change in fair value of investment – QCLS 5,550,000 2,839,000
Change in fair value of warrants - QCLS 3,181,000 4,832,000
Change in assets and liabilities:    
Increase in prepaid expenses and other current assets (123,509) (14,421)
Increase in accounts payable 119,433 66,005
Decrease in accrued expenses (177,175) (1,006,424)
Net cash and cash equivalents used in operating activities (780,894) (1,993,981)
Cash flows from financing activities:    
Payment of Series C convertible preferred stock dividends (83,399) 0
Net cash and cash equivalents used in financing activities (83,399) 0
Effect of currency rate exchange on cash and cash equivalents (615) 123
Net decrease in cash and cash equivalents (864,908) (1,993,858)
Cash and cash equivalents at beginning of the period 18,603,899 15,172,163
Cash and cash equivalents at end of the period 17,738,991 13,178,305
Supplemental disclosure of non-cash investing and financing activities:    
Accrual of Series C Convertible Preferred Stock dividends 83,399 0
Accretion of discounts to redemption value of Series C Preferred Stock $ 621,217 $ 0

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