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INCOME TAXES (Tables) | 12 Months Ended
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Apr. 30, 2022
SCHEDULE OF NET DEFERRED TAX ASSETS | SCHEDULE OF NET DEFERRED TAX ASSETS
|  | 2022 |  |  | 2021 |
|  | April 30, |
|  | 2022 |  |  | 2021 |
Deferred tax assets: |  |  |  |  |  |  |  |
Loss carryforwards |  | $ | 2,166,000 |  |  | $ | 788,400 |
Stock options |  |  | 8,259,000 |  |  |  | — |
Accrued payroll |  |  | — |  |  |  | 333,700 |
Related party accruals |  |  | 799,000 |  |  |  | 194,400 |
Inventory reserve |  |  | 100,000 |  |  |  | — |
Interest deferral |  |  | 191,000 |  |  |  | — |
Start-up costs |  |  | 84,000 |  |  |  | 109,600 |
Other |  |  | 57,000 |  |  |  | 17,900 |
Valuation allowance |  |  | (11,656,000 | ) |  |  | (1,444,000 | )
Net deferred tax assets |  | $ | — |  |  | $ | — |
SCHEDULE OF INCOME TAX PROVISION | SCHEDULE OF INCOME TAX PROVISION
|  | 2022 |  |  | 2021 |
|  | April 30, |
|  | 2022 |  |  | 2021 |
Income tax benefit based on book loss at US statutory rate |  | $ | (10,259,000 | ) |  | $ | (3,832,300 | )
Share-based compensation and shares for services |  |  | — |  |  |  | 188,100 |
Debt discount amortization |  |  | 1,841,000 |  |  |  | 79,100 |
Related party accruals |  |  | 150,000 |  |  |  | 127,800 |
Start-up costs |  |  | 6,815,000 |  |  |  | — |
Interest expense |  |  | 5,000 |  |  |  | 2,630,000 |
Depreciation |  |  | 21,000 |  |  |  | — |
Inventory reserve |  |  | 55,000 |  |  |  | — |
Interest deferral |  |  | 13,000 |  |  |  | — |
Acquisition costs |  |  | 1,268,000 |  |  |  | — |
Accrued legal |  |  | 76,000 |  |  |  | — |
Loss on extinguishment of debt |  |  | — |  |  |  | 636,400 |
Accrued payroll |  |  | — |  |  |  | 215,400 |
Gain on change in fair value of derivatives |  |  | (1,298,000 | ) |  |  | (407,300 | )
Other |  |  | (29,000 | ) |  |  | 1,500 |
Valuation allowance |  |  | 1,342,000 |  |  |  | 361,300 |
Total income tax provision |  | $ | — |  |  | $ | — |
ISRAEL |
SCHEDULE OF NET DEFERRED TAX ASSETS | Net deferred tax assets from operations in Israel, using an effective tax rate of 23%, consisted of the following: SCHEDULE OF NET DEFERRED TAX ASSETS
|  | 2022 |  |  | 2021 |
|  | April 30, |
|  | 2022 |  |  | 2021 |
Deferred tax assets: |  |  |  |  |  |  |  |
Loss carryforwards |  | $ | 234,000 |  |  | $ | 178,000 |
Start-up costs |  |  | — |  |  |  | 13,000 |
Research and development costs |  |  | (113,000 | ) |  |  | 113,000 |
Valuation allowance |  |  | (121,000 | ) |  |  | (304,000 | )
Net deferred tax assets |  | $ | — |  |  | $ | — |
SCHEDULE OF INCOME TAX PROVISION | The income tax provision differs from the amount of income tax determined by applying the applicable Israeli statutory income tax rate of 23% due to the following for the years ended April 30, 2022 and 2021: SCHEDULE OF INCOME TAX PROVISION
|  | 2022 |  |  | 2021 |
|  | April 30, |
|  | 2022 |  |  | 2021 |
Income tax provision (benefit) based on book income (loss) at Israeli statutory rate |  | $ | (56,000 | ) |  | $ | 80,000 |
Research and development costs |  |  | — |  |  |  | 113,000 |
Start-up costs |  |  | — |  |  |  | 13,000 |
Valuation allowance |  |  | 56,000 |  |  |  | — |
Loss carryforward |  |  | — |  |  |  | (206,000 | )
Total income tax provision |  | $ | — |  |  | $ | — |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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