Note Payable |
9 Months Ended |
|---|---|
Jan. 31, 2026 | |
| Debt Disclosure [Abstract] | |
| Note Payable | Note 10 – Note Payable
In connection with the Company’s acquisition of Fat Panda, the Company entered into an interim loan facility with CEAD Panda Lender LLC, under which it borrowed $4.0 million effective June 4, 2025. The loan required interest-only payments until maturity, payable monthly, with an interest rate of 3% for the first three months and 2% per month thereafter on the outstanding principal. The loan was secured by a first lien on all the assets of the Company, 16728502 CANADA INC and Fat Panda Ltd., now amalgamated as Fat Panda Ltd., subject to certain exceptions and permitted liens and permitted dispositions.
The loan facility included customary borrower representations and warranties, event of default, and various covenants, including requirements to maintain at least $1.5 million on cash and a minimum of $4.0 million in working capital (inclusive of cash). On December 4, 2025, the Company repaid the outstanding balance of the FP Loan in full. Interest expense recognized for the period includes amounts related to this interim loan facility prior to repayment.
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