Long-term debt and convertible promissory notes |
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Apr. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long-term debt and convertible promissory notes | NOTE 7 – Long-term debt and convertible promissory notes
Following is a summary of convertible promissory notes:
On August 7, 2025, the Company entered into a convertible promissory note with Labrys Fund II, L.P., in the aggregate principal amount of $137,500 (the “August 7, 2025 Note”). The note bears interest at 8%, with an Original Issue Discount of $12,500 plus an additional $10,000 to pay for transaction fees to the lender, matures on August 7, 2026, and is convertible after 180 days into shares of the Company’s common stock at a price of 75% of the average of the three lowest closing bid prices of the Company’s common stock during the 10 trading days prior to conversion. As of January 31, 2026, note balance was $125,911, net of $11,589 discount. On February 3, 2026, the derivative liability recorded for the convertible feature created a debt discount of $109,579 that is being amortized over the remaining term of the note using the effective interest rate method. See Note 6 – Derivative Liabilities. During the three months ended April 30, 2026, the Company converted $87,404 of principal and $17,736 of interest on the note. As of April 30, 2026, note balance was $14,272, net of $35,824 discount.
On August 25, 2025, the Company entered into a convertible promissory note with FirstFire Global Opportunities Fund, LLC., in the aggregate principal amount of $137,500 (the “August 25, 2025 Note”). The note bears interest at 8%, with an Original Issue Discount of $12,500 plus an additional $7,500 to pay for transaction fees to the lender, matures on August 25, 2026, and is convertible after 180 days into shares of the Company’s common stock at a price of 75% of the average of the three lowest closing bid prices of the Company’s common stock during the 10 trading days prior to conversion. As of January 31, 2026, note balance was $126,048, net of $11,452 discount. On February 24, 2026, the derivative liability recorded for the convertible feature created a debt discount of $69,727 that is being amortized over the remaining term of the note using the effective interest rate method. See Note 6 – Derivative Liabilities. During the three months ended April 30, 2026, the Company repaid $137,500 of principal and $41,250 of interest on the note. As of April 30, 2026, note balance was $0.
On September 18, 2025, the Company entered into a convertible promissory note with Jefferson Street Capital LLC., in the aggregate principal amount of $74,250 (the “September 2025 Note”). The note bears interest at 8%, with an Original Issue Discount of 10% plus an additional $3,375 to pay for transaction fees to the lender, matures on September 18, 2026, and is convertible after 180 days into shares of the Company’s common stock at a price of 75% of the average of the three lowest closing bid prices of the Company’s common stock during the 10 trading days prior to conversion. As of January 31, 2026, note balance was $67,445, net of $6,805 discount. On March 17, 2026, the derivative liability recorded for the convertible feature created a debt discount of $43,258 that is being amortized over the remaining term of the note using the effective interest rate method. See Note 6 – Derivative Liabilities. During the three months ended April 30, 2026, the Company converted $74,250 of principal and $12,271 of interest on the note. As of April 30, 2026, note balance was $0.
On October 15, 2025, the Company entered into a convertible promissory note with 1800 Diagonal Lending LLC in the aggregate principal amount of $70,400 (the “October 2025 Note”). The note bears interest at 8%, with an Original Issue Discount of $6,400 plus an additional $7,000 to pay for transaction fees to the lender, matures on July 30, 2026, and is convertible after 180 days into shares of the Company’s common stock at a price of 75% of the average of the three lowest closing bid prices of the Company’s common stock during the 10 trading days prior to conversion. As of January 31, 2026, note balance was $62,025, net of $8,375 discount. On April 13, 2026, the derivative liability recorded for the convertible feature created a debt discount of $28,985 that is being amortized over the remaining term of the note using the effective interest rate method. See Note 6 – Derivative Liabilities. During the three months ended April 30, 2026, the Company converted $70,400 of principal and $8,816 of interest on the note. As of April 30, 2026, note balance was $0.
On November 28, 2025, the Company entered into a convertible promissory note with 1800 Diagonal Lending LLC in the aggregate principal amount of $70,400 (the “November 2025 Note”). The note bears interest at 8%, with an Original Issue Discount of $6,400 plus an additional $7,000 to pay for transaction fees to the lender, matures on September 15, 2026, and is convertible after 180 days into shares of the Company’s common stock at a price of 75% of the average of the three lowest closing bid prices of the Company’s common stock during the 10 trading days prior to conversion. As of January 31, 2026, note balance was $60,515, net of $9,885 discount. As of April 30, 2026, note balance was $65,402, net of $4,998 discount.
On January 12, 2026, the Company entered into a convertible promissory note with 1800 Diagonal Lending LLC in the aggregate principal amount of $73,700 (the “January 2026 Note”). The note bears interest at 8%, with an Original Issue Discount of $6,700 plus an additional $7,000 to pay for transaction fees to the lender, matures on October 15, 2026, and is convertible after 180 days into shares of the Company’s common stock at a price of 75% of the average of the three lowest closing bid prices of the Company’s common stock during the 10 trading days prior to conversion. As of January 31, 2026, note balance was $60,943, net of $12,757 discount. As of April 30, 2026, note balance was $65,361, net of $8,339 discount.
On March 5, 2026, the Company entered into a convertible promissory note with EFRAT Investments Opportunities Fund, LLC in the aggregate principal amount of $110,000 (the “March 2026 Note”). The note bears interest at 8%, with an Original Issue Discount of $10,000, matures on March 5, 2027, and is convertible after 180 days into shares of the Company’s common stock at a price of 75% of the average of the three lowest closing bid prices of the Company’s common stock during the 10 trading days prior to conversion. As of April 30, 2026, note balance was $101,534, net of $8,466 discount.
On April 17, 2026, the Company entered into a convertible promissory note with 1800 Diagonal Lending LLC in the aggregate principal amount of $73,700 (the “April 2026 Note”). The note bears interest at 8%, with an Original Issue Discount of $6,700 plus an additional $7,000 to pay for transaction fees to the lender, matures on January 15, 2027, and is convertible after 180 days into shares of the Company’s common stock at a price of 75% of the average of the three lowest closing bid prices of the Company’s common stock during the 10 trading days prior to conversion. As of April 30, 2026, note balance was $60,747, net of $12,953 discount.
During the three months ended April 30, 2026 and 2025, the Company recorded debt discounts of $251,549 and $0, respectively, due to the derivative liabilities, and original issue debt discounts and fees paid to lender of $23,700 and $26,250, respectively, due to the convertible notes. The Company recorded amortization of these discounts of $265,532 and $25,049 for the three months ended April 30, 2026 and 2025, respectively.
Notes Payable
On June 22, 2020, the Company received loan proceeds of $32,300 (net of a $100 loan fee) under the SBA’s Economic Injury Disaster Loan program (“EIDL”). The EIDL loan, dated June 16, 2020, bears interest at 3.75%, has a 30-year term, and is due in monthly installments of $158 beginning June 18, 2021 (extended to December 18, 2022).
In April 2026, the Company entered into a Premium Finance Agreement related to an insurance policy. The policy premiums total $33,500 for a one-year policy period. The Company financed $24,750 of the policy over a nine-month period. The monthly payments under the agreement are due in nine installments of $2,903, at an annual interest rate of 13.2%.
As of April 30, 2026, the notes payable, net balance was $40,922, which include term long notes payable of $32,400 and current portion of notes payable of $8,522, with accrued interest of $2,193. As of January 31, 2026, the notes payable, net balance was $32,400, which include term long notes payable of $32,400 and current portion of notes payable of $0, with accrued interest of $2,193.
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