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RELATED PARTY TRANSACTIONS
 9 Months Ended
Jan. 31, 2023
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

Note 11: 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 $1,953,115 and $2,000,000 and accrued interest of $999,257 and $908,756 due to a related party as of January 31, 2023 and April 30, 2022, respectively (see Note 8).

 

The Company recognized net sales of $104,586 and $424,394 during the nine months ended January 31, 2023 and 2022, respectively, to related parties. As of January 31, 2023 and April 30, 2022, related parties had accounts receivable due to the Company of $25,355 and $93,535, respectively.