v3.26.1
WARRANT LIABILITY (Tables)
 12 Months Ended
Apr. 30, 2026
Warrant Liability  
SCHEDULE OF KEY INPUTS FOR THE WARRANT LIABILITY

The key inputs for the warrant liability were as follows as of May 2, 2025 (the valuation date before the date of exercise):

 

Key Valuation Inputs    
Expected term (years)   3.44 
Annualized volatility   64.2%
Volatility if fundamental transaction occurs   100.00%
Risk-free interest rate   3.84%
Stock price  $9.99 
Dividend yield   0.00%
Exercise price  $6.16 
Probability of fundamental transaction   95%
Date of fundamental transaction   0.25 years to 3.44 years 

 

The key inputs for the warrant liability were as follows as of April 30, 2025:

 

Key Valuation Inputs    
Expected term (years)   3.45 
Annualized volatility   64.0%
Volatility if fundamental transaction occurs   100.00%
Risk-free interest rate   3.61%
Stock price  $10.97 
Dividend yield   0.00%
Exercise price  $6.16 
Probability of fundamental transaction   95%
Date of fundamental transaction   0.25 years to 3.45 years 
SCHEDULE OF CHANGES IN FAIR VALUE OF LEVEL 3 WARRANT LIABILITY

The following table sets forth a summary of the changes in the fair value of the Level 3 warrant liability for the years ended April 30, 2026 and 2025:

 

   Warrant
Liability		 
Fair value as of April 30, 2024  $3,916,900 
Change in fair value of warrant liability   7,714,200 
Fair value as of April 30, 2025   11,631,100 
Reclassification into equity upon warrant exercise   (10,136,100)
Change in fair value of warrant liability   (1,495,000)
Fair value as of April 30, 2026  $-