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Note 1 – The Business (Tables) | 12 Months Ended
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Apr. 30, 2022
Accounting Policies [Abstract] |
[custom:ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumed3TableTextBlock] |
Shares issued |  | $ | 6,351,076 |
Promissory note issued |  |  | 1,753,000 |
Cash |  |  | 250,000 |
Total Purchase Price |  | $ | 8,354,076 |
Assets acquired |  |
Cash |  |  | 201,632 |
Accounts receivable |  |  | 249,159 |
Other assets |  |  | 384,232 |
Inventory |  |  | 223,380 |
Brand name |  |  | 1,144,000 |
Proprietary technology |  |  | 272,000 |
Non-compete agreement |  |  | 16,000 |
Total assets acquired |  |  | 2,490,403 |
Liabilities assumed |  |  |  |
Accounts payable and accrued expenses |  |  | 279,393 |
Customer deposits |  |  | 25,194 |
Total liabilities assumed |  |  | 304,587 |
Total fair value of net assets acquired |  |  | 2,185,816 |
Goodwill |  | $ | 6,168,260 |
[custom:ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumed4TableTextBlock] |
Shares issued |  |  | $ | 2,716,012 |
Cash |  |  |  | 75,000 |
Total Purchase Price |  |  | $ | 2,791,012 |
Assets acquired |  |
Cash |  |  | 13,502 |
Accounts receivable |  |  | 51,083 |
Other assets |  |  | 12,950 |
Inventory |  |  | 50,556 |
Proprietary technology |  |  | 826,000 |
Non-compete agreement |  |  | 65,000 |
Total assets acquired |  |  | 1,019,091 |
Liabilities assumed |  |  |  |
Accounts payable and accrued expenses |  |  | 1,054,997 |
Total liabilities assumed |  |  | 1,054,997 |
Total fair value of net assets acquired |  |  | (35,906 | )
Goodwill |  | $ | 2,826,918 |
[custom:ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumed5TableTextBlock] |
Total Purchase Price – shares issued |  | $ | 10,011,279 |
Assets acquired |  |  |  |
Cash |  |  | 11,364 |
Accounts receivable |  |  | 47,964 |
Other current assets |  |  | 15,085 |
Other assets |  |  | 48,595 |
Inventory |  |  | 1,253,755 |
Total assets acquired |  |  | 1,376,763 |
Liabilities assumed |  |  |  |
Accounts payable and accrued expenses |  |  | 1,143,899 |
Customer deposits |  |  | 1,766,993 |
Notes payable |  |  | 2,749,091 |
Total liabilities assumed |  |  | 5,659,983 |
Total fair value of net assets acquired |  |  | (4,283,220 | )
Goodwill |  | $ | 14,294,499 |
Business Acquisition, Pro Forma Information [Table Text Block] |
|  | April 30, 2022
|  | Red Cat |  | Skypersonic |  | Teal |  | Consolidated
Revenues |  | $ | 4,550,980 |  |  | $ | 312,023 |  |  | $ | 1,878,007 |  |  | $ | 6,741,010 |
Net Loss |  | $ | (8,604,139 | ) |  | $ | (886,757 | ) |  | $ | (4,201,408 | ) |  | $ | (13,692,304 | )
The following table presents pro forma results for the year ended April 30, 2021 as if our acquisitions of Fat Shark, Skypersonic and Teal had occurred on May 1, 2020:
|  | April 30, 2021
|  | Red Cat |  | Fat Shark |  | Skypersonic |  | Teal |  | Consolidated
Revenues |  | $ | 2,112,042 |  |  | $ | 5,190,970 |  |  | $ | 303,631 |  |  | $ | 979,344 |  |  | $ | 8,585,987 |
Net (Loss) Income |  | $ | (13,263,942 | ) |  | $ | 239,955 |  |  | $ | (906,478 | ) |  | $ | (3,283,309 | ) |  | $ | (17,213,774 | )

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