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WARRANT LIABILITY (Tables)
 3 Months Ended
Jul. 31, 2025
Warrant Liability  
SCHEDULE OF KEY INPUTS FOR THE WARRANT LIABILITY

The key inputs for the warrant liability were as follows as of May 2, 2025 (the valuation date before the date of exercise):

 

Key Valuation Inputs    
Expected term (years)   3.44 
Annualized volatility   64.2%
Volatility if fundamental transaction occurs   100.00%
Risk-free interest rate   3.84%
Stock price  $9.99 
Dividend yield   0.00%
Exercise price  $6.16 
Probability of fundamental transaction   95%
Date of fundamental transaction   0.25 years to 3.44 years 

 

 

U.S. GOLD CORP. AND SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

JULY 31, 2025

 

The key inputs for the warrant liability were as follows as of April 30, 2025:

 

Key Valuation Inputs    
Expected term (years)   3.45 
Annualized volatility   64.0%
Volatility if fundamental transaction occurs   100.00%
Risk-free interest rate   3.61%
Stock price  $10.97 
Dividend yield   0.00%
Exercise price  $6.16 
Probability of fundamental transaction   95%
Date of fundamental transaction   0.25 years to 3.45 years 
SCHEDULE OF CHANGES IN FAIR VALUE OF LEVEL 3 WARRANT LIABILITY

The following table sets forth a summary of the changes in the fair value of the Level 3 warrant liability for the three months ended July 31, 2025:

 

    Warrant Liability  
Fair value as of April 30, 2025  $11,631,100 
Change in fair value   (1,495,000)
Reclassification into equity upon warrant exercise   (10,136,100)
Fair value as of July 31, 2025  $-