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Digital Assets
 6 Months Ended
Oct. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Digital Assets

Note 3 - Digital Assets

 

The following table sets forth the units held, cost basis, and fair value of digital assets held, as shown on the condensed balance sheet as of October 31, 2025:

 

Digital Assets held:  Number of Tokens   Cost   Fair Value 
BNB   511,932   $442,960,096   $557,443,133 
BTC   55    6,451,182    6,001,864 
USDC   4,067,333    4,067,333    4,067,333 
USDT   474,764    474,764    474,764 
Total   5,054,084   $453,953,375   $567,987,094 

 

Cost basis is equal to the cost of the digital asset, net of any transaction fees, if any, at the time of purchase or upon receipt. Digital assets are measured at fair value on a recurring basis in accordance with ASC 820, Fair Value Measurement, using a quoted prices in active markets (Level 1 inputs). Fair value represents the quoted prices on a principal market at midnight UTC on the measurement date.

 

As of October 31, 2025, the Company holds 502,441 BNB tokens with a fair value of $547,108,026 as digital assets. An additional 9,491 BNB tokens, valued at $10,335,107, are held with third-party exchanges where the Company does not control the private keys. Accordingly, BNB tokens held with third-party exchanges are presented as digital asset receivable, together with BTC, USDC and USDT, as of October 31, 2025.

 

Digital asset receivables are not interest-bearing and are generally due on demand. The Company’s digital asset receivables are with only one counterparty.

 

 

The following table summarizes the Company’s digital asset holdings, as of:

 

Fair Value on – May 1, 2025  Balance 
Additions  $448,125,798 
Airdrop income   5,827,578 
Unrealized gain on BNB   114,483,038 
Unrealized loss on BTC   (449,320)
Ending balance – October 31, 2025  $567,987,094