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v3.25.2
CONSOLIDATED BALANCE SHEETS - USD ($)
Apr. 30, 2025
Apr. 30, 2024
Current assets:    
Cash and cash equivalents $ 15,172,163 $ 50,179,968
Marketable equity securities 366,316 0
Warrant asset – TNF - current 2,917,000 0
Convertible Note receivable – Femasys - current 3,696,000 0
Prepaid expenses and other current assets 223,759 259,800
Total current assets 22,375,238 50,439,768
Other assets:    
Intangible assets 1,549,427 1,549,427
Investment in preferred stock – TNF 22,474,000 0
Warrant assets – TNF - non current 5,701,000 0
Convertible note receivable – Femasys - non current 0 2,755,000
Warrant assets - Femasys 3,061,000 5,152,000
Other assets 7,688 7,688
Total other assets 32,793,115 9,464,115
Total Assets 55,168,353 59,903,883
Current liabilities:    
Accounts payable 399,204 389,369
Accrued expenses 2,515,080 735,199
Accrued Series B convertible preferred stock redemption and dividends payable 0 6,296,696
Total current liabilities 2,914,284 7,421,264
Other liabilities:    
Long-term portion of accrued expenses 25,000 0
Warrant liability 338,000 10,784,000
Derivative liability 0 2,184,000
Total other liabilities 363,000 12,968,000
Total Liabilities 3,277,284 20,389,264
Commitments and Contingencies (Note 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 6,795,779 as of April 30, 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 181,489,647 185,334,173
Accumulated deficit (84,968,960) (115,625,010)
Treasury stock, at cost, 14,876,316 and 13,634,454 shares as of April 30, 2025, and 2024, respectively (44,607,916) (42,040,216)
Accumulated other comprehensive loss (23,869) (23,511)
Total stockholders' equity 51,891,069 27,647,603
Total Liabilities, Convertible Preferred Stock and Stockholders' Equity 55,168,353 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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v3.25.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
 12 Months Ended
Apr. 30, 2025
Apr. 30, 2024
Income Statement [Abstract]    
Revenue $ 0 $ 0
Operating expenses:    
Research and development costs 438,416 407,431
Intangible asset impairment 0 2,000,000
General and administrative 3,939,446 6,112,577
Total operating expenses 4,377,862 8,520,008
Loss from operations (4,377,862) (8,520,008)
Other income (expense):    
Interest income 1,415,561 3,398,819
Change in fair value of warrant liability 10,446,000 3,343,000
Change in fair value of derivative liability 2,184,000 586,000
Change in fair value of convertible note receivable – Femasys 941,000 1,089,000
Change in fair value of warrant asset – Femasys (2,091,000) 1,818,000
Change in fair value of investment – TNF 5,063,950 0
Change in fair value of warrant assets - TNF (2,367,684) 0
Gain on investment in preferred stock – TNF 21,395,734 0
Unrealized gain on marketable securities 66,316 0
Loss on legal settlement (2,019,000) 0
Loss on long term asset 0 (1,572,193)
Other income (expense), net (965) 191,145
Total other income (expense), net 35,033,912 8,853,771
Income tax benefit (expense) 0 0
Net income 30,656,050 333,763
Preferred stock dividends (1,129,759) (2,517,645)
Undistributed income to Series B convertible preferred stock (2,970,780)
Preferred stock accretion (3,193,404) (15,053,521)
Net income (loss) attributable to common stockholders $ 23,362,107 $ (17,237,403)
Basic income (loss) per share attributable to common stockholders $ 3.19 $ (1.80)
Diluted income (loss) per share attributable to common stockholders $ 3.19 $ (1.80)
Weighted average shares outstanding basic 7,329,596 9,581,059
Weighted average shares outstanding diluted 7,329,596 9,581,059

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v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Apr. 30, 2025
Apr. 30, 2024
Cash flows from operating activities:    
Net income $ 30,656,050 $ 333,763
Adjustments to reconcile net 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
Non-cash warrant liability 469,000 0
Asset impaired 0 2,000,000
Loss on long term asset 0 1,572,193
Other non-cash income 0 (195,000)
Stock-based compensation 478,637 674,693
Unrealized gain on marketable equity securities (66,316) 0
Change in fair value of warrant liability (10,446,000) (3,343,000)
Change in fair value of derivative liability (2,184,000) (586,000)
Change in fair value of convertible note receivable - Femasys (941,000) (1,089,000)
Change in fair value of warrant assets - Femasys 2,091,000 (1,818,000)
Change in fair value of investment - TNF (5,063,950) 0
Change in fair value of warrants - TNF 2,367,684 0
Change in assets and liabilities:    
(Increase) decrease in prepaid expenses and other current assets 36,041 (152,119)
Increase in accounts payable 9,835 261,090
Increase in accrued expenses 1,310,457 189,923
Net cash used in operating activities (2,978,296) (2,151,457)
Cash flows from investing activities:    
Investment in preferred stock and warrants (7,000,000) 0
Investment – convertible 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 (2,542,276) (28,197,617)
Proceeds from issuance of preferred stock, net of transaction costs 0 33,650,075
Redemption of preferred stock (22,486,875) (16,160,531)
Proceeds from warrant exercise 0 70
Net cash used in financing activities (25,029,151) (10,708,003)
Effect of currency rate exchange on cash and cash equivalents (358) (508)
Net decrease in cash and cash equivalents (35,007,805) (17,859,968)
Cash and cash equivalents at beginning of the year 50,179,968 68,039,936
Cash and cash equivalents at end of the year 15,172,163 50,179,968
Supplemental disclosure of cash flows information:    
Cash paid during the year for income taxes 0 1,600
Supplemental schedule 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
Accrued Series B Convertible Preferred Stock dividends 22,457,227
Series B Convertible Preferred stock dividends 1,129,759 0
Accretion of discounts to redemption value of Series B Preferred Stock 3,193,404 15,053,521
Excise tax accrued on repurchase of common stock $ 25,424 $ 281,976

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