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Share Based Awards (Tables)
 8 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Assumptions Used to Calculate the Fair Value of Options Granted

The range of assumptions used to calculate the fair value of options granted during the eight months ended December 31, 2024 was:

 

Exercise Price   $ 1.15 – 4.02 
Stock price on date of grant   1.20 – 4.02 
Risk-free interest rate   3.54 – 4.44%
Dividend yield   — 
Expected term (years)   5.17 – 5.78 
Volatility   190.46 – 199.03%

 

The range of assumptions used to calculate the fair value of options granted during the year ended April 30 was:

 

   2024   2023 
Exercise Price  $ 0.72 – 1.12   $ 0.89 – 2.38 
Stock price on date of grant   0.70 – 1.12    0.89 – 2.38 
Risk-free interest rate   3.46 – 4.41%   3.34 – 4.18%
Dividend yield   —    — 
Expected term (years)   5.28 – 8.25    6.25 – 8.25 
Volatility   206.99 – 262.07%   245.57 – 260.06%
Schedule of Options Activity

A summary of options activity under the Plan since April 30, 2022 was:

 

   Shares  

Weighted-

Average

Exercise

Price

  

Weighted-

Average

Remaining

Contractual

Term

  

Aggregate

Intrinsic

Value

 
Outstanding as of April 30, 2022   3,694,142   $2.17    8.56    1,407,545 
Granted   1,503,500    1.40           
Exercised   —    —           
Forfeited or expired   (412,833)   2.67           
Outstanding as of April 30, 2023   4,784,809    1.88    8.72    74,586 
Granted   2,903,542    1.02           
Exercised   (3,000)   0.89           
Forfeited or expired   (905,417)   2.27           
Outstanding as of April 30, 2024   6,779,934    1.46    8.02    2,762,242 
Granted   1,463,500    2.14           
Exercised   (2,475,242)   1.69           
Forfeited or expired   (122,867)   1.45           
Outstanding as of December 31, 2024   5,645,325    1.54    7.90    59,779,836 
Exercisable as of December 31, 2024   1,924,275   $1.31    6.13   $22,212,003 
Schedule of Restricted Stock Activity

A summary of restricted stock activity under the Plan since April 30, 2022 was:

 

   Shares   Weighted Average Grant-Date Fair Value Per Share 
Unvested and outstanding as of April 30, 2022   1,083,675   $2.59 
Granted   780,884    2.14 
Vested   (1,062,372)   2.42 
Forfeited   (21,127)   2.13 
Unvested and outstanding as of April 30, 2023   781,060    2.44 
Granted   298,643    1.06 
Vested   (485,024)   1.92 
Forfeited   (419,549)   2.09 
Unvested and outstanding as of April 30, 2024   175,130   $2.09 
Granted   3,072,599    2.58 
Vested   (1,403,702)   1.43 
Forfeited   (300,000)   1.14 
Unvested and outstanding as of December 31, 2024   1,544,027   $3.84 
Schedule of Stock Compensation Expense by Functional Operating Expense

Stock compensation expense by functional operating expense was:

 

   December 31, 2024   April 30, 2024   April 30, 2023 
Research and development  $239,664   $395,105   $692,947 
Sales and marketing   1,040,260    562,110    566,153 
General and administrative   2,823,110    2,652,052    2,397,624 
Total  $4,103,034   $3,609,267   $3,656,724