Years Ended April 30,

2026

2025

Earnings per share

Net income (loss)

$

(19,424,654

)

$

30,656,050

Less: Accretion of discounts to redemption of convertible preferred stock

(3,503,222

)

(3,193,404

)

Less: Convertible preferred stock dividends

(278,496

)

(1,129,759

)

Less: Allocation of undistributed income to convertible preferred stock

–

(2,970,780

)

Undistributed income (loss) available to common stockholders

$

(23,206,372

)

$

23,362,107

Weighted average shares outstanding used in basic earnings per share

8,378,291

7,329,596

Net income (loss) per share basic and diluted

$

(2.77

)

$

3.19