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Other Long-Term Assets
 8 Months Ended
Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Other Long-Term Assets

Note 11 – Other Long-Term Assets

 

Other long-term assets included:

 

  

December 31, 2024

  

April 30, 2024

   April 30, 2023 
SAFE agreement  $250,000   $250,000   $250,000 
Security deposits   59,823    43,126    53,180 
Total  $309,823   $293,126   $303,180 

 

In November 2022, the Company entered into a SAFE (Simple Agreement for Future Equity) agreement with Firestorm Labs, Inc. (“Firestorm”) under which it made a payment of $250,000 to Firestorm in exchange for the right to certain shares of Firestorm stock. The SAFE permits the Company to participate in a future equity financing of Firestorm by converting the $250,000 into shares of Preferred Stock of Firestorm. If there is a change in control of Firestorm or a public offering of shares of its stock, then the Company shall have the right to receive cash payments, or shares of stock, whichever has greater value. The Company’s investment in the SAFE agreement has been recorded on the cost method of accounting. The Company evaluates the investment for any indications of impairment in value on a quarterly basis. No factors indicative of impairment were identified during the eight months ended December 31, 2024.