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Acquisition of Marine Advanced Robotics, Inc. (Tables)

12 Months Ended

Apr. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Business Combination Purchase Consideration

Purchase consideration consisted of the following:

 Schedule of Business Combination Purchase Consideration

		(in thousands)
Cash		$	4,000
Advance payable - MAR			456
Fair value of restricted shares			5,855
Fair value of contingent consideration			1,591
Total consideration		$	11,902

Schedule Of Preliminary Allocation of Fair Value Assumptions

 Schedule Of Preliminary Allocation of Fair Value Assumptions

		(in thousands)
Total Purchase Consideration		$	11,902
Cash			12
Inventory			150
Property and equipment, net			38
Trademarks			2,755
Patents			1,193
Goodwill			8,537
Contract liabilities acquired			(203)
Deferred income tax liability			(580)
Net asset acquired		$	11,902

Schedule of Pro Forma Financial Information

Schedule of Pro Forma Financial Information 

		$	2022			$	2021
		Twelve months ended April 30,
		2022				2021
Revenue		$	2,621			$	2,302
Net loss		$	(18,413	)		$	(14,174	)
Basic and diluted net loss per share		$	(0.34	)		$	(0.47	)

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
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- Definition

Tabular disclosure of contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments.

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- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

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