v3.26.1
Revenue
 6 Months Ended
Oct. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue

Note 9- Revenue

 

The following table sets forth the Company’s revenue by source:

 

   Successor   Predecessor   Successor   Predecessor   Predecessor 
   Three Months Ended October 31,   Three Months Ended October 31,  

Period from

June 7 through
October 31,

  

Period from

May 1 through
June 6,

   Six Months Ended October 31, 
   2025   2024   2025   2025   2024 
                     
CEA equipment and systems sales  $193,743   $-   $300,570   $-   $- 
CEA engineering and other services   38,846    -    87,993    -    - 
CEA other sales   21,839    -    22,827    -    - 
Retail Vape sales   6,240,755    -    10,827,892    2,761,077    12,800,544 
E-commerce Vape sales   443,887    6,698,217    278,070    165,818    1,267,923 
Factory direct wholesale Vape sales   204,415    532,236    203,621    794    214,064 
Franchise fee Vape sales   -    206,298    -    -    122,887 
Other Vape sales   -    -    -    -    - 
Total revenue  $7,143,485   $7,436,751   $11,720,973   $2,927,689   $14,405,418 

 

As of October 31, 2025 (Successor), and April 30, 2025 (Predecessor), the allowance for doubtful accounts was $92,942 (successor) and $ 0 (predecessor), respectively.

 

As of October 31, 2025 (Successor), the Company’s remaining performance obligations, or backlog, was approximately $902,000, an increase of $176,000 from the June 6, 2025 (Successor) backlog of $726,000. The increase was primarily the result of large booking from one customer during for the period. There is significant uncertainty regarding the timing of the Company’s recognition of revenue on its remaining performance obligations, and there is no certainty that these will result in actual revenues.

 

The remaining performance obligations expected to be recognized through fiscal year 2026 are as follows (Successor):

 

   Q3FY26 
Remaining performance obligations related to partial equipment & engineering paid contracts  $901,786 
Total remaining performance obligations  $901,786 

 

Geographic Information

 

The Company classifies sales by customers’ locations in two geographic regions: the United States and Canada.

 

   Three Months Ended October 31,   Three Months Ended October 31,  

Period from

June 7 through

October 31,

  

Period from

May 1 through
June 6,

   Six Months Ended October 31, 
   2025   2024   2025   2025   2024 
United States  $254,428   $-   $411,389   $-   $- 
Canada   6,889,057    7,436,751    11,309,584    2,927,689    14,405,418 
Total  $7,143,485   $7,436,751   $11,720,973   $2,927,689   $14,405,418