TREASURY STOCK |
12 Months Ended |
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Apr. 30, 2026 | |
| Equity [Abstract] | |
| TREASURY STOCK | NOTE 13 – TREASURY STOCK
In May 2022, the Board authorized a share repurchase program to acquire its outstanding common stock for up to $10 million. In January 2023, the Board authorized an additional share repurchase program to acquire up to an additional $10 million of the Company’s outstanding common stock. In conjunction with the share repurchase programs, the Company selected a broker to repurchase shares on behalf of the Company. The amount of common stock repurchased on any given trading day is determined by a formula, which is based on the market price of the common stock and average daily volumes. Shares repurchased are held in treasury for general corporate purposes. The shares are treated as Treasury Stock using the cost method. During the years ended April 30, 2026 and 2025, the Company repurchased and , respectively, additional shares under the repurchase program at a total cost, including commissions and excise taxes of $0 and $2,567,700, respectively. As of April 30, 2026 and 2025, the total number of shares repurchased pursuant to the repurchase programs was shares, respectively, at a total cost, including commissions and excise taxes of $17,886,108, respectively. Repurchased shares are included in Treasury Stock in the accompanying Consolidated Balance Sheets. At April 30, 2026 and 2025, $2,113,891, respectively, remain available to repurchase the Company’s common stock pursuant to the share repurchase programs. The Company paused the repurchase program in April 2025 and no further activity has occurred.
In December 2025, the Company granted restricted stock units to the directors totaling shares of common stock. The Company purchased shares back from the directors totaling $401,625 to distribute to the directors with the intent of covering the income tax effect of the grants. The buyback of the shares was recorded as treasury stock, the buyback did not affect the share repurchase program authorized by the Board.
As of April 30, 2026 and 2025, the total number of shares held in Treasury Stock is and shares respectively, at a total cost of $45,009,541 and $44,607,916, respectively.
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