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Leases
 6 Months Ended
Oct. 31, 2025
Leases  
Leases

Note 5 – Leases

 

The Company’s operating and finance right-of-use assets and lease liabilities are as follows:

 

   Successor   Predecessor 
   October 31,   April 30, 
   2025   2025 
Operating lease right-of-use asset  $1,821,417   $1,890,013 
Operating lease liability, current  $671,520   $528,914 
Operating lease liability, long-term  $1,187,373   $1,374,639 

 

   Successor   Predecessor   Predecessor 
   Period from June 7 through
October 31, 2025		  

Period from May 1 through

June 6, 2025

   Six Months Ended October 31, 2024 
Cash paid for operating lease  $260,496   $91,749   $333,881 

 

Future annual minimum lease payments under non-cancellable operating leases as of October 31, 2025, were as follows:

 

As of October 31, 2025  Successor 
   October 31, 
Years ended April 30,  2025 
2026 (excluding the six months ended October 31, 2025)  $395,700 
2027   710,746 
2028   486,199 
2029   306,056 
2030   165,044 
Thereafter   200,314 
Total minimum lease payments   2,264,059 
Less imputed interest   (453,407)
Present value of minimum lease payments  $1,810,652 

 

Other information related to leases were as follows:

 

   Successor   Predecessor 
   October 31,   April 30, 
   2025   2024 
Weighted-average remaining lease term
(in years)		   

3.76

  

4.13

 
Weighted-average discount rate   6.1%   6.3%