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RELATED PARTY TRANSACTIONS
 3 Months Ended
Jul. 31, 2022
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

Note 13: RELATED PARTY TRANSACTIONS

 

In support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attain adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by officers, directors, or shareholders. Amounts represent advances, amounts paid in satisfaction of liabilities, or accrued compensation that has been deferred. The advances are considered temporary in nature and have not been formalized by a promissory note.

 

The Company has outstanding notes payable of $2,000,000 and $2,000,000 and accrued interest of $969,876 and $908,756 due to a related party as of July 31, 2022 and April 30, 2022, respectively (see Note 9).

 

The Company recognized net sales of $91,200 and $8,931 during the three months ended July 31, 2022 and 2021, respectively, to related parties. As of July 31, 2022 and April 30, 2022, related parties had accounts receivable due to the Company of $92,582 and $93,535, respectively.