STOCKHOLDERS’ EQUITY (Tables)
|
12 Months Ended |
Apr. 30, 2025 |
|---|
| Equity [Abstract] |
|
| SCHEDULE OF ACTIVITY RESTRICTED AND DEFERRED STOCK UNITS |
A
summary of the changes in RSUs and DSUs outstanding during the years ended April 30, 2025 and 2024, is as follows:
SCHEDULE
OF ACTIVITY RESTRICTED AND DEFERRED STOCK UNITS
| |
|
Restricted
Stock Units |
|
|
Weighted
Average
Grant-Date
Fair Value
Per Share |
|
| Balance at April 30, 2023 |
|
|
433,475 |
|
|
$ |
10.31 |
|
| Vested and converted into common stock |
|
|
- |
|
|
|
- |
|
| Balance at April 30, 2024 |
|
|
433,475 |
|
|
|
10.31 |
|
| Granted |
|
|
160,913 |
|
|
|
7.62 |
|
| Vested and converted into common stock |
|
|
(7,927 |
) |
|
|
9.34 |
|
| Balance at April 30, 2025 |
|
|
586,461 |
|
|
$ |
9.60 |
|
|
| SCHEDULE OF STOCK OPTION ACTIVITY |
The
following is a summary of the Company’s stock option activity during the years ended April 30, 2025 and 2024:
SCHEDULE
OF STOCK OPTION ACTIVITY
| |
|
Number of
Options |
|
|
Weighted
Average
Exercise
Price |
|
|
Weighted
Average
Remaining
Contractual
Life
(Years) |
|
| Balance at April 30, 2023 |
|
|
192,750 |
|
|
$ |
5.54 |
|
|
|
4.44 |
|
| Granted |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Exercised |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Forfeited |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Cancelled |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Balance at April 30, 2024 |
|
|
192,750 |
|
|
|
5.54 |
|
|
|
3.44 |
|
| Granted |
|
|
293,730 |
|
|
|
7.65 |
|
|
|
5.00 |
|
| Exercised |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Forfeited |
|
|
(27,810 |
) |
|
|
6.06 |
|
|
|
— |
|
| Cancelled |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Balance at April 30, 2025 |
|
|
458,670 |
|
|
|
6.86 |
|
|
|
3.77 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Options exercisable at end of year |
|
|
361,817 |
|
|
$ |
6.65 |
|
|
|
|
|
| Options expected to vest |
|
|
96,853 |
|
|
$ |
7.65 |
|
|
|
|
|
| Weighted average fair value of options granted during the year |
|
|
|
|
|
$ |
4.94 |
|
|
|
|
|
|
| SCHEDULE OF STOCK OPTION VALUATION ASSUMPTION |
The
Company used the Black-Scholes model to determine the fair value of stock options granted during the year ended April 30, 2025. In applying
the Black-Scholes option pricing model to options granted, the Company used the following assumptions:
SCHEDULE
OF STOCK OPTION VALUATION ASSUMPTION
| Risk-free interest rate |
|
4.17- 4.43 |
% |
| Dividend yield |
|
0.00 |
% |
| Expected volatility |
|
76-77 |
% |
| Contractual and expected term (in years) |
|
5.0 |
|
| Forfeiture rate |
|
0.00 |
% |
|
| SCHEDULE OF STOCK BASED EXPENSE FOR STOCK OPTION |
Stock-based
expense for stock options were recorded in the following as reflected in the consolidated statements of operations:
SCHEDULE
OF STOCK BASED EXPENSE FOR STOCK OPTION
| |
|
For the Year
Ended
April 30, 2025
|
|
|
For the Year
Ended
April 30, 2024
|
|
| Compensation and related taxes — general and administrative |
|
$ |
485,528 |
|
|
$ |
29,608 |
|
| Professional and consulting fees |
|
|
605,504 |
|
|
|
- |
|
| Total |
|
$ |
1,091,032 |
|
|
$ |
29,608 |
|
|
| SCHEDULE OF STOCK WARRANT ACTIVITY |
The
following is a summary of the Company’s stock warrant activity during the years ended April 30, 2025 and 2024:
SCHEDULE
OF STOCK WARRANT ACTIVITY
| |
|
Number of Warrants |
|
|
Weighted Average
Exercise
Price |
|
|
Weighted Average Remaining Contractual
Life
(Years) |
|
| Warrants with no Class designation: |
|
|
|
|
|
|
|
|
|
|
|
|
| Balance at April 30, 2023 |
|
|
2,779,262 |
|
|
$ |
7.76 |
|
|
|
4.27 |
|
| Granted |
|
|
1,400,000 |
|
|
|
4.48 |
|
|
|
5.47 |
|
| Exercised |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Forfeited |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Canceled |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Balance at April 30, 2024 |
|
|
4,179,262 |
|
|
|
6.66 |
|
|
|
4.01 |
|
| Granted |
|
|
728,850 |
|
|
|
9.50 |
|
|
|
10.00 |
|
| Exercised |
|
|
(464,668 |
) |
|
|
5.01 |
|
|
|
3.02 |
|
| Forfeited |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Canceled |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Balance at April 30, 2025 |
|
|
4,443,444 |
|
|
|
7.30 |
|
|
|
2.93 |
|
| Class A Warrants: |
|
|
|
|
|
|
|
|
|
|
|
|
| Balance at April 30, 2023 |
|
|
109,687 |
|
|
|
11.40 |
|
|
|
1.22 |
|
| Granted |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Exercised |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Forfeited |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Canceled |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Balance at April 30, 2024 |
|
|
109,687 |
|
|
|
11.40 |
|
|
|
0.64 |
|
| Granted |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Exercised |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Forfeited |
|
|
(109,687 |
) |
|
|
— |
|
|
|
— |
|
| Canceled |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Balance at April 30, 2025 |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Total Warrants Outstanding at April 30, 2025 |
|
|
4,443,444 |
|
|
$ |
7.30 |
|
|
|
2.93 |
|
| Warrants exercisable at end of year |
|
|
3,714,594 |
|
|
$ |
6.87 |
|
|
|
|
|
| Weighted average fair value of warrants granted during the year |
|
|
|
|
|
$ |
3.32 |
|
|
|
|
|
|