Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENTS (Tables)

v3.24.1
FAIR VALUE MEASUREMENTS (Tables)
9 Months Ended
Jan. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of liabilities measured at fair value on a recurring basis
                       
Description   Level     January 31, 2024     April 30, 2023  
Liabilities:                        
Warrant liability (Note 5)     3     $ 11,494,000     $  
Bifurcated embedded derivative (Note 11)     3     $ 3,433,000     $  
Schedule of change in the fair value of the warrant liability
     
    January 31, 2024  
Balance on April 30, 2023   $  
Issuance of warrants     14,127,000  
Change in fair value of warrant liability     (2,633,000 )
Balance on January 31, 2024   $ 11,494,000  

 

The following table sets forth a summary of the change in the fair value of the bifurcated embedded derivative liability that is measured on a recurring basis:

 

    January 31, 2024  
Balance on April 30, 2023   $  
Issuance of convertible preferred stock with bifurcated embedded derivative liability     2,770,000  
Change in fair value of bifurcated embedded derivative     663,000  
Balance on January 31, 2024   $ 3,433,000  
Schedule of fair values of financial instruments
                       
    Level 1     Level 2     Level 3  
Financial Assets                        
Convertible note receivable – investment in debt security   $     $     $ 2,012,000  
Warrant asset                 2,710,000  
Total   $     $     $ 4,722,000