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v3.26.1

Income Taxes (Tables) | 9 Months Ended
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Jan. 31, 2026
Income Taxes [Abstract] |
Schedule of Provision for Income Taxes | For the three months ended January 31, 2026, and 2025, the provision for income taxes consisted of the following:
|  | Three months ended January 31, 2026 (unaudited) |  |  | Three months ended January 31, 2025 (unaudited) |
Current: |  |  |  |  |  |
Federal income tax expense |  | $ | 6,045 |  |  | $ | 818 |
State income tax expense |  |  | 3,946 |  |  |  | 756 |
Deferred: |  |  |  |  |  |  |  |
Federal income tax expense |  |  | 2,227 |  |  |  | — |
State income tax expense |  |  | — |  |  |  | — |
Total income tax expense |  | $ | 12,218 |  |  | $ | 1,574 |
For the nine months ended January 31, 2026, and 2025, the provision for income taxes consisted of the following:
|  | Nine months ended January 31, 2026 (unaudited) |  |  | Nine months ended January 31, 2025 (unaudited) |
Current: |  |  |  |  |  |
Federal income tax expense |  | $ | 7,699 |  |  | $ | 2,427 |
State income tax expense |  |  | 5,475 |  |  |  | 2,241 |
Deferred: |  |  |  |  |  |  |  |
Federal income tax expense |  |  | 2,227 |  |  |  | — |
State income tax expense |  |  | — |  |  |  | — |
Total income tax expense |  | $ | 15,401 |  |  | $ | 4,668 |
Schedule of Effective Income Tax Rate | The following table reconciles the Company’s effective income tax rate for the three months ended January 31, 2026 and 2025:
|  | Three months ended January 31, 2026 (unaudited) |  |  | Three months ended January 31, 2025 (unaudited) |
Federal statutory rate |  |  | (21.0 | )% |  |  | 21.0 | %
State statutory rate, net of effect of state income tax deductible to federal income tax |  |  | (6.88 | )% |  |  | 6.98 | %
Permanent difference – penalties, interest, and others |  |  | 0.31 | % |  |  | 2.71 | %
Valuation allowance |  |  | 29.85 | % |  |  | (28.77 | )%
Effective tax rate |  |  | 2.28 | % |  |  | 1.92 | %
The following table reconciles the Company’s effective income tax rate for the nine months ended January 31, 2026 and 2025:
|  | Nine months ended January 31, 2026 (unaudited) |  |  | Nine months ended January 31, 2025 (unaudited) |
Federal statutory rate |  |  | (21.0 | )% |  |  | (21.0 | )%
State statutory rate, net of effect of state income tax deductible to federal income tax |  |  | (6.98 | )% |  |  | (6.98 | )%
Permanent difference – penalties, interest, and others |  |  | 0.15 | % |  |  | 1.37 | %
Valuation allowance |  |  | 28.27 | % |  |  | 27.28 | %
Effective tax rate |  |  | 0.44 | % |  |  | 0.67 | %
Schedule of Deferred Tax Assets and Liabilities | Deferred taxes are comprised of the following:
|  | January 31, 2026 (unaudited) |  |  | April 30, 2025 |
Deferred tax assets: |  |  |  |  |  |
Operating lease liabilities, net of ROU |  | $ | 127 |  |  | $ | 303 |
Depreciation |  |  | 3,055 |  |  |  | - |
Bad debt expense |  |  | 9,187 |  |  |  | - |
NOL |  |  | 2,191,384 |  |  |  | 122,022 |
Valuation allowance |  |  | (2,203,753 | ) |  |  | (120,098 | )
Deferred tax assets, net |  | $ | - |  |  | $ | 2,227 |

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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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + 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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
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