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Warrants (Tables)

8 Months Ended

Dec. 31, 2024

Warrants

Schedule of Assumptions Used to Estimate Fair Values of Stock Warrants Granted

The following table presents the range of assumptions used to estimate the fair values of the stock warrants granted during the eight months ended December 31, 2024 and fiscal years ended April 30, 2024 and 2023:

 Schedule of Assumptions Used to Estimate Fair Values of Stock Warrants Granted

		December 31, 2024				April 30, 2024				April 30, 2023
Risk-free interest rate			4.01 – 4.17	%			4.25	%			—
Expected dividend yield			—				—				—
Expected term (in years)			5.00				5.00				—
Expected volatility			89.3 – 93.5	%			205.50	%			—

Schedule of Changes in Warrants Outstanding

The following table summarizes the changes in warrants outstanding since April 30, 2022.

 Schedule of Changes in Warrants Outstanding

		Number of Shares				Weighted-average Exercise Price per Share				Weighted-average Remaining Contractual Term (in years)				Aggregate Intrinsic Value
Balance as of April 30, 2022			1,539,999				3.38				3.89			$	427,533
Granted			—			$	—				5.00
Exercised			—				—
Outstanding as of April 30, 2023			1,539,999				3.38				2.89			$	—
Granted			736,000				0.63
Exercised			—				—
Outstanding at April 30, 2024			2,275,999			$	2.49				2.77			$	666,080
Granted			1,076,000				7.32				5.00
Exercised			(2,437,943	)			3.77
Outstanding at December 31, 2024			914,056				4.76				2.40				7,397,542

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Schedule of Share Based Payment Award Warrants Valuation Assumptions [Table Text Block]

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- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-1

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