INCOME TAXES (Tables)
|
12 Months Ended |
Apr. 30, 2026 |
| Income Tax Disclosure [Abstract] |
|
| Schedule of net pre-tax book income and/or loss |
| Schedule of net pre-tax
book income and/or loss | |
| | | |
| | |
| | |
Years Ended April 30, | |
| | |
2026 | | |
2025 | |
| United States | |
$ | (19,424,654 | ) | |
$ | 30,656,050 | |
| Foreign | |
| – | | |
| – | |
| Total | |
$ | (19,424,654 | ) | |
$ | 30,656,050 | |
|
| Schedule of effective income tax rate |
| Schedule of effective income tax rate | |
| | | |
| | |
| | |
Year Ended April 30, 2026 | |
| U.S. federal statutory tax rate | |
$ | (4,079,177 | ) | |
| 21.0% | |
| State income taxes, net of federal income tax effect (1) | |
| – | | |
| – | |
| Foreign tax effects | |
| – | | |
| – | |
| Changes in valuation allowances | |
| 2,998,757 | | |
| (15.4 | ) |
| Non-taxable or non-deductible items | |
| | | |
| | |
| Fair value of warranty liability | |
| 996,688 | | |
| (5.1 | ) |
| Gain on related party investment - QCLS | |
| (438,690 | ) | |
| 2.3 | |
| Fair value of derivative liability | |
| (234,570 | ) | |
| 1.2 | |
| Issuance costs on Series C convertible preferred stock and warrants | |
| 259,256 | | |
| (1.3 | ) |
| Other | |
| (27,287 | ) | |
| 0.1 | |
| Other adjustments | |
| | | |
| | |
| Expired warrant assets | |
| 963,271 | | |
| (5.0 | ) |
| Redemption of note receivable | |
| (700,140 | ) | |
| 3.6 | |
| Forgone benefit on federal tax NOLs | |
| 369,981 | | |
| (1.9 | ) |
| Other | |
| (108,089 | ) | |
| 0.5 | |
| Effective tax rate | |
$ | – | | |
| –% | |
|
| Schedule of provision for income taxes |
| Schedule of provision for income taxes | |
| | |
| | |
Year Ended
April 30, 2025 | |
| Federal benefit at statutory rate | |
$ | 6,437,771 | |
| State income taxes, net of Federal taxes | |
| 2,139,792 | |
| Fair value of warrant liability | |
| (2,922,791 | ) |
| Gain on related party investment | |
| (5,986,526 | ) |
| Fair value of derivative liability | |
| (611,083 | ) |
| Redemption of derivative liability | |
| (174,862 | ) |
| Expiration of warrant asset – Series B | |
| (79,743 | ) |
| State deferred tax adjustment | |
| 572,607 | |
| Legal settlement | |
| 131,226 | |
| Provision related to change in valuation allowance | |
| 27,998 | |
| Fair value of warrant asset – Series B | |
| 385,005 | |
| Expired stock options | |
| 78,384 | |
| Net valuation allowance for state NOLs | |
| (6,748 | ) |
| Other, net | |
| 8,970 | |
| Effective tax rate | |
$ | – | |
|
| Schedule of deferred tax assets and liabilities |
| Schedule of deferred tax assets and liabilities | |
| | | |
| | |
| | |
April 30, | |
| | |
2026 | | |
2025 | |
| Deferred tax assets: | |
| | | |
| | |
| Net operating loss carryforwards | |
$ | 16,079,880 | | |
$ | 15,026,112 | |
| Stock compensation | |
| 569,229 | | |
| 523,822 | |
| Research and development | |
| 63,232 | | |
| 216,831 | |
| Investment in SG Austria | |
| 439,953 | | |
| 439,953 | |
| Intangible asset (diabetes license) | |
| 559,672 | | |
| 559,672 | |
| Intangible asset (value of cells) | |
| 433,585 | | |
| – | |
| Fair value of investment in QCLS | |
| 511,464 | | |
| – | |
| Fair value of warrant asset | |
| 493,351 | | |
| – | |
| Other - deferred tax asset | |
| 217,244 | | |
| 147,798 | |
| Total deferred tax assets | |
| 19,367,610 | | |
| 16,914,188 | |
| | |
| | | |
| | |
| Deferred tax liabilities: | |
| | | |
| | |
| Fair value of convertible note receivable | |
| – | | |
| (568,067 | ) |
| Fair value of warrant asset | |
| – | | |
| (228,906 | ) |
| Fair value of investment in QCLS | |
| – | | |
| (754,512 | ) |
| Other - deferred tax liability | |
| – | | |
| (140,985 | ) |
| Total deferred tax liabilities | |
| – | | |
| (1,692,470 | ) |
| | |
| | | |
| | |
| Total deferred tax assets | |
| 19,367,610 | | |
| 15,221,718 | |
| Valuation allowance | |
| (19,367,610 | ) | |
| (15,221,718 | ) |
| Net deferred tax assets | |
$ | – | | |
$ | – | |
|