v3.26.1
Leases
 9 Months Ended
Jan. 31, 2026
Leases  
Leases

Note 5 – Leases

 

The Company recorded operating lease costs for the period from June 7, 2025 through January 31, 2026 (Successor) of $0.4 million. For the period from May 1, 2025, through June 6, 2025 (Predecessor) operating lease costs was $91.8 thousand and for the nine months ended January 31, 2025 (Predecessor), operating lease costs was $0.4 million.

 

 

The Company’s operating and finance right-of-use assets and lease liabilities are as follows:

 

   Successor   Predecessor 
   January 31,   April 30, 
   2026   2025 
Operating lease right-of-use asset  $1,886,600   $1,890,013 
Operating lease liability, current  $709,245   $528,914 
Operating lease liability, long-term  $1,236,830   $1,374,639 

 

   Successor   Predecessor   Predecessor 
   Period from
June 7 through
January 31, 2026		   Period from
May 1 through
June 6, 2025		   Nine Months
Ended
January 31,2025		 
Cash paid for operating lease  $421,172   $91,749   $433,492 

 

Future annual minimum lease payments under non-cancellable operating leases as of January 31, 2026, were as follows:

 

   Successor 
   January 31, 
Years ending April 30,  2026 
2026 (excluding the nine months ended January 31, 2026)  $208,973 
2027   752,582 
2028   502,664 
2029   318,414 
2030   185,903 
Thereafter   216,417 
Total minimum lease payments   2,184,953 
Less imputed interest   (238,878)
Present value of minimum lease payments  $1,946,075 

 

Other information related to leases were as follows:

 

   Successor   Predecessor 
   January 31,   April 30, 
   2026   2025 
Weighted-average remaining lease term
(in years)		   2.32    4.13 
Weighted-average discount rate   4.9%   6.3%