STOCKHOLDERS’ EQUITY (Tables)
|
12 Months Ended |
Apr. 30, 2026 |
| Equity [Abstract] |
|
| SCHEDULE OF ACTIVITY RESTRICTED AND DEFERRED STOCK UNITS |
A
summary of the changes in RSUs and DSUs outstanding during the years ended April 30, 2026 and 2025, is as follows:
SCHEDULE OF ACTIVITY RESTRICTED AND DEFERRED STOCK UNITS
| | |
Restricted
and Deferred Stock Units | | |
Weighted
Average Grant-Date Fair Value Per Share | |
| Balance at April 30, 2024 | |
| 433,475 | | |
$ | 10.31 | |
| Granted | |
| 160,913 | | |
| 7.62 | |
| Vested and converted into common stock | |
| (7,927 | ) | |
| 9.34 | |
| Balance at April 30, 2025 | |
| 586,461 | | |
$ | 9.60 | |
| Granted | |
| 84,325 | | |
| 19.24 | |
| Balance at April 30, 2026 | |
| 670,786 | | |
$ | 10.81 | |
|
| SCHEDULE OF STOCK OPTION ACTIVITY |
The
following is a summary of the Company’s stock option activity during the years ended April 30, 2026 and 2025:
SCHEDULE OF STOCK OPTION ACTIVITY
| | |
Number of Options | | |
Weighted Average Exercise Price | | |
Weighted Average Remaining Contractual Life (Years) | |
| Balance at April 30, 2024 | |
| 192,750 | | |
$ | 5.54 | | |
| 3.44 | |
| Granted | |
| 293,730 | | |
| 7.65 | | |
| 5.00 | |
| Exercised | |
| — | | |
| — | | |
| — | |
| Forfeited | |
| (27,810 | ) | |
| 6.06 | | |
| — | |
| Cancelled | |
| — | | |
| — | | |
| — | |
| Balance at April 30, 2025 | |
| 458,670 | | |
$ | 6.86 | | |
| 3.77 | |
| Granted | |
| 109,588 | | |
| 19.24 | | |
| 5.00 | |
| Exercised | |
| (17,702 | ) | |
| 6.61 | | |
| 3.42 | |
| Forfeited | |
| — | | |
| — | | |
| — | |
| Cancelled | |
| (2,500 | ) | |
| 7.52 | | |
| 4.79 | |
| Balance at April 30, 2026 | |
| 548,056 | | |
$ | 9.34 | | |
| 3.16 | |
| | |
| | | |
| | | |
| | |
| Options exercisable at end of year | |
| 406,195 | | |
$ | 6.80 | | |
| | |
| Options expected to vest | |
| 141,861 | | |
$ | 16.60 | | |
| | |
| Weighted average fair value of options granted during the year | |
| | | |
$ | 10.73 | | |
| | |
|
| SCHEDULE OF STOCK OPTION VALUATION ASSUMPTION |
The
Company used the Black-Scholes model to determine the fair value of stock options granted during the years ended April 30, 2026 and 2025.
In applying the Black-Scholes option pricing model to options granted, the Company used the following assumptions:
SCHEDULE OF STOCK OPTION VALUATION ASSUMPTION
| | |
For the Year Ended April 30, 2026 | | |
For the Year Ended April 30, 2025 | |
| Risk-free interest rate | |
| 3.83 | % | |
| 4.17% to 4.43 | % |
| Dividend yield | |
| 0.00 | % | |
| 0.00 | % |
| Expected volatility | |
| 62 | % | |
| 76% to 77 | % |
| Contractual and expected term (in years) | |
| 5.0 | | |
| 5.0 | |
| Forfeiture rate | |
| 0.00 | % | |
| 0.00 | % |
|
| SCHEDULE OF STOCK BASED EXPENSE FOR STOCK OPTION |
Stock-based
expense for stock options were recorded in the following as reflected in the consolidated statements of operations:
SCHEDULE OF STOCK BASED EXPENSE FOR STOCK OPTION
| | |
For the Year Ended April 30, 2026 | | |
For the Year Ended April 30, 2025 | |
| Compensation and related taxes – general and administrative | |
$ | 285,244 | | |
$ | 485,528 | |
| Professional and consulting fees | |
| 352,677 | | |
| 605,504 | |
| Total | |
$ | 637,921 | | |
$ | 1,091,032 | |
|
| SCHEDULE OF STOCK WARRANT ACTIVITY |
The
following is a summary of the Company’s stock warrant activity during the years ended April 30, 2026 and 2025:
SCHEDULE OF STOCK WARRANT ACTIVITY
| | |
Number of Warrants | | |
Weighted Average Exercise Price | | |
Weighted Average Remaining Contractual Life (Years) | |
| | |
| | |
| | |
| |
| Balance at April 30, 2024 | |
| 4,179,262 | | |
$ | 6.66 | | |
| 4.01 | |
| Granted | |
| 728,850 | | |
| 9.50 | | |
| 10.00 | |
| Exercised | |
| (464,668 | ) | |
| 5.01 | | |
| 3.02 | |
| Forfeited | |
| — | | |
| — | | |
| — | |
| Canceled | |
| — | | |
| — | | |
| — | |
| Balance at April 30, 2025 | |
| 4,443,444 | | |
$ | 7.30 | | |
| 2.93 | |
| Granted | |
| 961,079 | | |
| 23.00 | | |
| 2.00 | |
| Exercised | |
| (2,238,940 | ) | |
| 6.86 | | |
| 1.64 | |
| Forfeited | |
| — | | |
| — | | |
| — | |
| Canceled | |
| — | | |
| — | | |
| — | |
| Balance at April 30, 2026 | |
| 3,165,583 | | |
$ | 12.38 | | |
| 2.05 | |
| Warrants exercisable at end of year | |
| 3,165,583 | | |
$ | 12.38 | | |
| | |
| Weighted average fair value of warrants granted during the year | |
| | | |
$ | 23.00 | | |
| | |
|