0001674440 2024-05-01 2025-04-30 0001674440 ecd:PeoMember 2024-05-01 2025-04-30 0001674440 YYAI:FormerPeoMember 2024-05-01 2025-04-30 0001674440 ecd:PeoMember 2023-05-01 2024-04-30 0001674440 YYAI:FormerPeoMember 2023-05-01 2024-04-30 0001674440 2023-05-01 2024-04-30 0001674440 ecd:NonPeoNeoMember 2024-05-01 2025-04-30 0001674440 ecd:NonPeoNeoMember 2023-05-01 2024-04-30 iso4217:USD false 0001674440 DEF 14A AiRWA INC. true <table cellpadding="0" cellspacing="0" id="xdx_88B_eecd--PvpTableTextBlock_zFPOPknr6Hfc" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Pay vs Performance Disclosure"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Fiscal Year(1)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_489_eecd--PeoTotalCompAmt_hecd--IndividualAxis__ecd--PeoMember_zeRwZzfRxYI8" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Summary Compensation Table Total for PEO(2)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_480_eecd--PeoActuallyPaidCompAmt_hecd--IndividualAxis__ecd--PeoMember_zcjlGovT1Mvi" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Compensation Actually Paid to PEO(3)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_484_eecd--PeoActuallyPaidCompAmt_hecd--IndividualAxis__custom--FormerPeoMember_zWF4dlMDJ49g" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Compensation Actually Paid to Former PEO(4)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_483_eecd--NonPeoNeoAvgTotalCompAmt_zc9lb1NZBk0d" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Average Summary Compensation Table Total for Non-PEO NEOs(5)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_48A_eecd--NonPeoNeoAvgCompActuallyPaidAmt_zOwK7rPRdVb3" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Average Compensation Actually Paid to Non-PEO NEOs(5)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_481_eecd--TotalShareholderRtnAmt_pp2d_zQ1d5SvvYOta" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Value of Initial Fixed $100 Investment Based On Total Stockholder Return</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_487_eus-gaap--NetIncomeLoss_iN_di_zR3WmAmj0BBj" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Net Loss(6)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr id="xdx_417_20240501__20250430_znLYM2FSuYi" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 37%; text-align: left">2025</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right">2,520,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right">1,620,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right">900,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right">252,920</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right">252,920</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right">0.66</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right">4,633,447</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_411_20230501__20240430_zGrPl5ZARoXf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2024</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,100,309</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">0</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,100,309</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">391,169</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">391,169</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">10.96</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(15,636,418</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> </table> 2520000 1620000 900000 252920 252920 0.66

-4633447

1100309 0 1100309 391169 391169 10.96

15636418

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top; text-align: left"> <td style="width: 0.25in">(1)</td> <td style="text-align: justify">Information for fiscal year 2025 includes the amounts owed to Mr. Tarala as compensation during fiscal year 2025, which was subsequently paid to Mr. Tarala.</td> </tr> </table> Mr. Tarala Mr. Tarala <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="7" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2024</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">PEO</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Other Non-PEO NEOs (Average)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">PEO</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Other Non-PEO NEOs (Average)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 36%; text-align: left">Summary Compensation Table Total</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_989_eecd--PeoTotalCompAmt_c20240501__20250430_zDp66JeEUaig" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="PEO, Summary Compensation Table Total">2,520,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_98E_eecd--NonPeoNeoAvgTotalCompAmt_c20240501__20250430_zi2CrXKQ6kW6" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Other Non-PEO NEOs, Summary Compensation Table Total">252,920</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_987_eecd--PeoTotalCompAmt_c20230501__20240430_z3a4RnZ5TtM6" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="PEO, Summary Compensation Table Total">1,100,309</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_98D_eecd--NonPeoNeoAvgTotalCompAmt_c20230501__20240430_zhOy3vNO1Zpf" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Other Non-PEO NEOs, Summary Compensation Table Total">391,169</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Less: Grant Date Fair Value of Equity Awards Granted in Fiscal Year</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eecd--AdjToCompAmt_c20240501__20250430__ecd--IndividualAxis__ecd--PeoMember_zfhVG50Cpwpf" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Less: Grant Date Fair Value of Equity Awards Granted in Fiscal Year">(1,300,000)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eecd--AdjToCompAmt_c20240501__20250430__ecd--IndividualAxis__ecd--NonPeoNeoMember_z5dg24x838dd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Less: Grant Date Fair Value of Equity Awards Granted in Fiscal Year">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eecd--AdjToCompAmt_c20230501__20240430__ecd--IndividualAxis__ecd--PeoMember_zuW9ujC4Bv6k" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Less: Grant Date Fair Value of Equity Awards Granted in Fiscal Year">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eecd--AdjToCompAmt_c20230501__20240430__ecd--IndividualAxis__ecd--NonPeoNeoMember_zpoY6VJxUEQ1" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Less: Grant Date Fair Value of Equity Awards Granted in Fiscal Year">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Compensation Actually Paid</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_989_eecd--PeoActuallyPaidCompAmt_c20240501__20250430_z2eAiTW6Vk23" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="PEO, Compensation Actually Paid">1,220,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_987_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20240501__20250430_zaAcqrdHffca" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other Non-PEO NEOs, Compensation Actually Paid">252,920</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_98C_eecd--PeoActuallyPaidCompAmt_c20230501__20240430_zuKDumpcHEg6" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="PEO, Compensation Actually Paid">1,100,309</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_986_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20230501__20240430_zVihNgNSU2Bi" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other Non-PEO NEOs, Compensation Actually Paid">391,169</td><td style="text-align: left"> </td></tr> </table> 2520000 252920 1100309 391169 -1300000 1220000 252920 1100309 391169 Compensation Actually Paid and Cumulative TSR. As reflected in the accompanying table, compensation actually paid to our PEOs and the average compensation actually paid to our non-PEO NEOs was not directly correlated with cumulative TSR during the periods presented. CAP for fiscal 2025 was materially affected by the completion of the Acquisition, the related transition from Mike Ballardie to Thomas Tarala, the change in the mix of executives included in the disclosure, and the timing and accounting treatment of compensation elements reflected under Item 402(v), including equity award treatment. Accordingly, year-to-year changes in CAP should not be viewed as moving in tandem with TSR. Compensation Actually Paid and Net Income or Loss. As reflected in the accompanying table, net income or loss and CAP did not move on the same basis during the periods presented. CAP is an SEC-defined measure derived from Summary Compensation Table compensation, with required adjustments under Item 402(v), and fiscal 2025 also reflects changes in executive leadership and the mix of officers included in the disclosure. Accordingly, year-to-year changes in CAP should not be interpreted as directly tracking net income or loss. Amounts reported for our Chief Executive Officer, Mr. Tarala, and former Chief Executive Officer, Mike Ballardie. Amounts reported for our Chief Executive Officer, Mr. Tarala. Amounts reported for our former Chief Executive Officer, Mike Ballardie. Amounts represent (i) compensation paid to our Chief Financial Officer, Mr. Guibao Ji, for fiscal year 2025 and (ii) the average of our Chief Financial Officer, Mr. Guibao Ji, and Yonah Kalfa and Judah Honickman, former officers of the Company, who resigned from their respective positions with the Company effective November 21, 2024, for the fiscal year 2024. Amount represents our net loss as reported in our Annual Report on Form 10-K.