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EARNINGS PER SHARE | 9 Months Ended
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Jan. 31, 2026
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | NOTE 9 – EARNINGS PER SHARE The Company computes basic earnings per share using the two-class method. The two-class method of computing earnings per share is an earnings allocation formula that determines earnings per share for common stock and any participating securities according to dividends declared (whether paid or unpaid) and participation rights in undistributed earnings. The Series B Preferred Shares and Series C Preferred Shares are considered participating securities as preferred shareholders are entitled to participate with common stockholders on an as-converted basis in any distributions of assets by the Company under the terms of their respective Certificates of Designations. Diluted earnings per share for the nine months ended January 31, 2025 was computed using the two-class method. Under the two-class method, there is no change in the weighted average shares outstanding used between the basic and diluted earnings per share calculations as the Series B Preferred Shares represent the only dilutive share equivalents during the nine months ended January 31, 2025. During the three and nine months ended January 31, 2026 and the three months ended January 31, 2025 the Company incurred losses attributable to common shareholders. Accordingly, the effects of any common stock equivalent would be anti-dilutive during the period and thus are not included in the calculation of diluted weighted average number of shares outstanding. The following table illustrates the computation of basic and diluted earnings (loss) per share:
Schedule of basic and diluted earnings (loss) per share |  |  |  |
|  | Three Months Ended January 31,
|  | 2026 |  | 2025
Earnings per share |  |  |  |
Net loss |  | $ | 746,860 |  |  | $ | (3,045,328 | )
Less: Accretion of discounts to redemption of convertible preferred stock |  |  | (2,204,657 | ) |  |  | – |
Less: Convertible preferred stock dividends |  |  | (98,458 | ) |  |  | – |
Net loss attributable to common stockholders |  | $ | (1,556,255 | ) |  | $ | (3,045,328 | )
Weighted average shares outstanding used in basic and diluted earnings per share |  |  | 9,262,829 |  |  |  | 6,960,014 |
Net loss per share basic and diluted |  | $ | (0.17 | ) |  | $ | (0.44 | )
|  | Nine Months Ended January 31,
|  | 2026 |  | 2025
Earnings per share |  |  |  |  |  |  |  |
Net income (loss) |  | $ | (15,031,211 | ) |  | $ | 18,906,468 |
Less: Accretion of discounts to redemption of convertible preferred stock |  |  | (3,106,653 | ) |  |  | (3,193,404 | )
Less: Convertible preferred stock dividends |  |  | (195,097 | ) |  |  | (1,129,759 | )
Less: Allocation of undistributed income to Series B convertible preferred stock |  |  | – |  |  |  | (2,067,733 | )
Undistributed income (loss) available to common stockholders |  | $ | (18,332,961 | ) |  | $ | 12,515,572 |
Weighted average shares outstanding used in basic earnings per share |  |  | 7,618,128 |  |  |  | 7,487,813 |
Net income (loss) per share basic and diluted |  | $ | (2.41 | ) |  | $ | 1.67 |
The table below sets forth the potentially dilutive securities excluded from the computation of diluted weighted average shares outstanding as they would be anti-dilutive:
Schedule of potentially dilutive securities |  |  |  |
|  | Three and Nine Months Ended January 31,
|  | 2026 |  | 2025
Excluded options |  |  | 1,160,627 |  |  |  | 917,697 |
Excluded preferred shares |  |  | 5,008,061 |  |  |  | – |
Excluded warrants |  |  | 55,819,519 |  |  |  | 18,570,847 |
Total excluded options, preferred shares and warrants |  |  | 61,988,207 |  |  |  | 19,488,544 |
Diluted earnings per share were calculated under both the if-converted and the two-class methods to determine the most dilutive amount for the common stock. The Company applied the treasury stock two-class method which assumes the securities remain in their current non-exercised or converted form and therefore, deemed anti-dilutive.

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