v3.26.1
Note 9 - Warrants
12 Months Ended
Apr. 30, 2026
Notes to Financial Statements  
Warrants [Text Block]

NOTE 9 WARRANTS

 

As disclosed in Note 8, the Company sold units that contained a warrant to purchase one-half share of common stock. The warrants are exercisable at $0.08 per full share and expire twelve months from the date of issuance. During the year ended April 30, 2026, the Company issued an additional 500,000 warrants to a current warrant holder in connection with the exercise of warrants issued in 2021 that were due to expire. Additionally during the year ended April 30, 2026, 2,500,000 warrants were exercised at $0.02 per share.

 

The following is a summary of the Company’s warrants outstanding: 

      

Weighted

Average

 
  

All warrants

 

  

Exercise

Price

 

Balance outstanding at April 30, 2025

  2,000,000  $0.02 

Issued to existing warrantholder

  500,000   0.02 

Exercised

  (2,500,000) $(0.02)

Expired or forfeited

  -     

Warrants issued with units

  45,973,125  $0.08 

Warrants issued for cash

  37,300,000     

Warrants issued for debt and interest

  8,393,125     

Warrants issued for services

  280,000     

Balance outstanding at April 30, 2026

  45,973,125  $0.08 

 

The composition of the Company’s warrants outstanding at April 30, 2026 is as follows:

 

Issue Date

Expiration Date

 

Warrants

  

Exercise Price

  

Remaining life

(years)

 

February 26, 2026

February 26, 2027

  45,973,125  $0.08   0.83 
    45,973,125  $0.08   0.83 

 

During the year ended April 30, 2025 the Company had no warrants issued, expired or exercised.