Annual report [Section 13 and 15(d), not S-K Item 405]

WARRANT LIABILITY (Tables)

v3.25.2
WARRANT LIABILITY (Tables)
 12 Months Ended
Apr. 30, 2025
Warrant Liability  
SCHEDULE OF KEY INPUTS FOR THE WARRANT LIABILITY

The key inputs for the warrant liability were as follows as of April 30, 2025:

 

Key Valuation Inputs      
Expected term (years)     3.45  
Annualized volatility     64.0 %
Volatility if fundamental transaction occurs     100.00 %
Risk-free interest rate     3.61 %
Stock price   $ 10.97  
Dividend yield     0.00 %
Exercise price   $ 6.16  
Probability of fundamental transaction     95 %
Date of fundamental transaction     0.25 years to 3.45 years  

 

The key inputs for the warrant liability were as follows as of April 30, 2024:

 

Key Valuation Inputs      
Expected term (years)     4.45  
Annualized volatility     78.9 %
Volatility if fundamental transaction occurs     100.00 %
Risk-free interest rate     4.75 %
Stock price   $ 4.18  
Dividend yield     0.00 %
Exercise price   $ 6.16  
Probability of fundamental transaction     95 %
Date of fundamental transaction     0.25 years to 4.45 years  
SCHEDULE OF CHANGES IN FAIR VALUE OF LEVEL 3 WARRANT LIABILITY

The following table sets forth a summary of the changes in the fair value of the Level 3 warrant liability for the years ended April 30, 2025 and 2024:

 

    Warrant
Liability		  
Fair value as of April 30, 2023   $ 4,230,850  
Change in fair value of warrant liability     (313,950 )
Fair value as of April 30, 2024     3,916,900  
Change in fair value of warrant liability     7,714,200  
Fair value as of April 30, 2025   $ 11,631,100