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Note 14 – Common Stock | 6 Months Ended
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Oct. 31, 2024
Equity [Abstract] |
Note 14 – Common Stock | Note 14 – Common Stock Our common stock has a par value of $0.001 per share. We are authorized to issue 500,000,000 shares of common stock. Each share of common stock is entitled to one vote. A summary of shares of common stock issued by the Company since April 30, 2023 is as follows:
Description of Shares |  | Shares Issued
Shares outstanding as of April 30, 2023 |  |  | 54,568,065 |
Vesting of restricted stock to employees, net of shares withheld of 27,189 to pay taxes |  |  | 192,742 |
Vesting of restricted stock to Board of Directors |  |  | 252,214 |
Vesting of restricted stock to consultants |  |  | 1,761 |
Conversion of preferred stock |  |  | 818,334 |
Issuance of common stock through ATM facilities |  |  | 53,235 |
Issuance of common stock through public offering |  |  | 18,400,000 |
Exercise of stock options |  |  | 3,000 |
Shares outstanding as of April 30, 2024 |  |  | 74,289,351 |
Vesting of restricted stock to employees, net of shares withheld of 138,744 to pay taxes |  |  | 540,590 |
Vesting of restricted stock to Board of Directors |  |  | 61,447 |
Exercise of stock options |  |  | 58,446 |
Exercise of warrants |  |  | 530,578 |
FlightWave acquisition |  |  | 2,544,991 |
Shares outstanding as of October 31, 2024 |  |  | 78,025,403 |
See note 20 for subsequent events. Public Offering In December 2023, the Company entered into an underwriting agreement with ThinkEquity LLC, as representative of the underwriters, pursuant to which the Company agreed to sell to the underwriters in a firm commitment underwritten public offering (the “Offering”) an aggregate of 16,000,000 shares of the Company’s common stock, par value $0.001 per share, at a public offering price of $0.50 per share. The Company also granted the underwriters a 45-day option to purchase up to an additional 2,400,000 shares of Common Stock to cover over-allotments. The Offering closed on December 11, 2023, resulting in the issuance of 18,400,000 shares of Common Stock which generated gross proceeds of $9,200,000. Net proceeds to the Company from the Offering, after deducting the underwriting discount, the underwriters’ fees and expenses and the Company’s estimated Offering expenses, were approximately $8,400,000.

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