| Leases |
Note
5 – Leases
The
Company’s operating and finance right-of-use assets and lease liabilities are as follows:
Schedule of Lease Cost
| | |
Successor | | |
Predecessor | |
| | |
October 31, | | |
April 30, | |
| | |
2025 | | |
2025 | |
| Operating lease right-of-use asset | |
$ | 1,821,417 | | |
$ | 1,890,013 | |
| Operating lease liability, current | |
$ | 671,520 | | |
$ | 528,914 | |
| Operating lease liability, long-term | |
$ | 1,187,373 | | |
$ | 1,374,639 | |
| | |
Successor | | |
Predecessor | | |
Predecessor | |
| | |
Period
from
June 7 through
October 31, 2025 | | |
Period
from
May
1 through
June 6, 2025 | | |
Six Months Ended October 31, 2024 | |
| Cash paid for operating lease | |
$ | 260,496 | | |
$ | 91,749 | | |
$ | 333,881 | |
Future
annual minimum lease payments under non-cancellable operating leases as of October 31, 2025, were as follows:
Schedule of Future Annual Minimum Lease Payments
| As of October 31, 2025 | |
Successor | |
| | |
October 31, | |
| Years ended April 30, | |
2025 | |
| 2026 (excluding the six months ended October 31, 2025) | |
$ | 395,700 | |
| 2027 | |
| 710,746 | |
| 2028 | |
| 486,199 | |
| 2029 | |
| 306,056 | |
| 2030 | |
| 165,044 | |
| Thereafter | |
| 200,314 | |
| Total minimum lease payments | |
| 2,264,059 | |
| Less imputed interest | |
| (453,407 | ) |
| Present value of minimum lease payments | |
$ | 1,810,652 | |
Other
information related to leases were as follows:
Schedule
of Other Information Related to Leases
| | |
Successor | | |
Predecessor | |
| | |
October 31, | | |
April 30, | |
| | |
2025 | | |
2024 | |
Weighted-average remaining lease term
(in years) | |
| 3.76 | | |
| 4.13 | |
| Weighted-average discount rate | |
| 6.1 | % | |
| 6.3 | % |
|