Intangible Assets

9 Months Ended

Jan. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Note 12 – Intangible Assets

Intangible assets with defined useful lives are generally measured at cost less straight-line amortization. The useful life is determined using the period of the underlying contract or the period of time over which the intangible asset can be expected to be used. Impairments are recognized if the recoverable amount of the asset is lower than the carrying amount. The recoverable amount is the higher of either the fair value less costs to sell or the value in use. The value in use is determined on the basis of future cash inflows and outflows, and the weighted average cost of capital. Intangible assets with indefinite useful lives, such as trade names and trademarks, that have been acquired as part of acquisitions are measured at cost and tested for impairment annually, or if there is an indication that their value has declined.

The following table sets forth the major categories of the intangible assets as of January 31, 2024 and April 30, 2023

Schedule of Intangible Assets

	January 31, 2024		April 30, 2023

Acquired users	$	14,288,695	$	14,288,695
Acquired brand		583,429		583,429
Acquired IP and Website		435,000		435,000
Professional practice		556,830		556,830
Literary works and contracts		107,750		107,750
Total intangible assets		15,971,704		15,971,704
Less: accumulated amortization		181,400		96,407
Net intangible assets	$	15,790,304	$	15,875,297

As of January 31, 2024, the weighted average remaining useful life for technology, trade names, professional practice, literary works and domains is 13.41 years. Accumulated amortization amounted to $181,400 and $96,407 as of January 31, 2024 and April 30, 2023, resulting in net intangible assets of $15,790,304 and $15,875,297, respectively.