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v3.24.3
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Oct. 31, 2024
Apr. 30, 2024
Current assets:    
Cash and cash equivalents $ 20,840,056 $ 50,179,968
Prepaid expenses and other current assets 493,213 259,800
Total current assets 21,333,269 50,439,768
Other assets:    
Intangible asset 1,549,427 1,549,427
Investment in preferred stock – TNF 24,855,000 0
Convertible note receivable – Femasys 3,435,000 2,755,000
Warrant asset – Femasys 3,918,000 5,152,000
Other asset 7,688 7,688
Total other assets 33,765,115 9,464,115
Total Assets 55,098,384 59,903,883
Current liabilities:    
Accounts payable 348,595 389,369
Accrued expenses 707,185 735,199
Accrued Series B convertible preferred stock redemption and dividends 3,720,458 6,296,696
Total current liabilities 4,776,238 7,421,264
Other liabilities:    
Warrant liability 6,871,000 10,784,000
Derivative liability 0 2,184,000
Total other liabilities 6,871,000 12,968,000
Total Liabilities 11,647,238 20,389,264
Commitments and Contingencies (Notes 6 and 8)  
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 7,034,259 as of October 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 181,352,842 185,334,173
Accumulated deficit (93,673,215) (115,625,010)
Treasury stock, at cost, 14,637,836 and 13,634,454 shares as of October 31, 2024, and April 30, 2024, respectively (44,207,381) (42,040,216)
Accumulated other comprehensive loss (23,267) (23,511)
Total stockholders' equity 43,451,146 27,647,603
Total Liabilities, Convertible Preferred Stock and Stockholders' Equity 55,098,384 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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v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
 3 Months Ended 6 Months Ended
Oct. 31, 2024
Oct. 31, 2023
Oct. 31, 2024
Oct. 31, 2023
Income Statement [Abstract]        
Revenue $ 0 $ 0 $ 0 $ 0
Operating expenses:        
Research and development costs 97,470 82,033 193,486 186,516
Compensation expense 283,333 229,159 672,817 469,157
Director fees 138,000 306,738 276,000 356,953
Legal and professional 469,685 519,073 980,241 844,301
General and administrative 117,572 272,517 252,403 1,627,919
Total operating expenses 1,106,060 1,409,520 2,374,947 3,484,846
Loss from operations (1,106,060) (1,409,520) (2,374,947) (3,484,846)
Other income (expenses):        
Interest income 382,562 894,181 929,994 1,770,059
Change in fair value of warrant liability 1,829,000 4,075,000 3,913,000 2,623,000
Change in fair value of derivative liability 980,000 (769,000) 2,184,000 (1,299,000)
Change in fair value of convertible note receivable 435,000 0 680,000 0
Change in fair value of warrant asset - Femasys 276,000 0 (1,234,000) 0
Change in fair value of investment - TNF (4,265,000) 0 (3,540,734) 0
Gain on related party investment - TNF 0 0 21,395,734 0
Other expense (1,062) (765) (1,252) (2,614)
Total other income, net (363,500) 4,199,416 24,326,742 3,091,445
Net income (loss) (1,469,560) 2,789,896 21,951,795 (393,401)
Preferred stock dividends (443,958) (586,886) (1,129,759) (906,735)
Preferred stock accretion (1,045,357) (4,461,097) (3,193,404) (7,733,130)
Net income (loss) attributable to common stockholders $ (2,958,875) $ (2,258,087) $ 17,628,632 $ (9,033,266)

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v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 6 Months Ended
Oct. 31, 2024
Oct. 31, 2023
Cash flows from operating activities:    
Net income (loss) $ 21,951,795 $ (393,401)
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 341,832 0
Change in fair value of warrant liability (3,913,000) (2,623,000)
Change in fair value of derivative liability (2,184,000) 1,299,000
Change in fair value of convertible note receivable (680,000) 0
Change in fair value of warrant asset – Femasys 1,234,000 0
Change in fair value of investment – TNF 3,540,734 0
Change in assets and liabilities:    
Decrease in prepaid expenses and other current assets (233,413) (215,508)
Increase (decrease) in accounts payable (40,775) (2,118)
Increase (decrease) in accrued expenses (49,471) 293,632
Net cash provided by (used in) operating activities (1,428,032) (1,641,395)
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 (2,145,708) (26,622,277)
Proceeds from issuance of preferred stock 0 33,650,075
Redemption of preferred stock (18,766,416) 0
Proceeds from warrant exercise 0 70
Net cash provided by (used in) financing activities (20,912,124) 7,027,868
Effect of currency rate exchange on cash and cash equivalents 244 (1,140)
Net increase (decrease) in cash and cash equivalents (29,339,912) 5,385,333
Cash and cash equivalents at beginning of the period 50,179,968 68,039,936
Cash and cash equivalents at end of the period 20,840,056 73,425,269
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 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 $ 21,457 $ 266,223

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