v3.26.1
Income Taxes
 12 Months Ended
Apr. 30, 2026
Income Tax Disclosure [Abstract]  
Income Taxes

Note 8- Income Taxes

The Company has no tax position at April 30, 2026, for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility. The Company recognizes interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. No such interest or penalties were recognized during the periods presented. The Company had no accruals for interest and penalties at April 30, 2026. The Company’s utilization of any net operating loss carryforward may be unlikely as a result of its intended activities.

The income tax provision differs from the amount of income tax determined by applying the statutory income tax rates to pretax income from continuing operations for the period ended April 30, 2026, due to the following:

The following table presents the components of the deferred tax asset:

 

    April 30, 2026   April 30, 2025
Net operating loss carryforward $ 41,117 $ 1,429
Effective tax rate   21%   21%
Deferred tax asset   8,635   300
Less: valuation allowance   (8,635)   (300)
Net deferred asset $ - $ -
           

F-14

Below is a comparison of the actual tax benefit with the expected benefit (at a rate of 21%) as of April 30, 2026 and 2025:

    April 30, 2026   April 30, 2025
Computed “expected” tax expense (benefit) $ (8,334) $ (300)
Change in valuation allowance   8,334   300
Actual tax expense (benefit) $ - $ -

Due to the uncertainty regarding their realization, the deferred tax benefits from unutilized tax losses are offset by a full valuation allowance. Pursuant to ASC 740, management concluded that there are no significant uncertain tax positions requiring disclosure beyond what is already presented.

Due to the uncertainty regarding their realization, the deferred tax benefits from unutilized tax losses are offset by a full valuation allowance.

The Company adopted ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures.

The following table presents a reconciliation of the U.S. federal statutory income tax rate to the Company's effective tax rate for the period ended April 30, 2026, disaggregated by the nature and jurisdiction of each reconciling item, as required by ASU 2023-09:

Reconciling Item   Jurisdiction   Rate   Amount
Tax at U.S. federal statutory rate   Federal   21% $  (8,334)
State income tax, net of federal benefit   Wyoming   0.0% $ 0
Change in valuation allowance   Federal   21% $ 8,334
Effective income tax rate / provision       0.0% $ 0

 

The U.S. federal statutory rate of 21% applied to the net loss of $39,688 for the period results in a computed tax benefit of $8,334. The full benefit is offset by an equal increase in the valuation allowance, resulting in an effective tax rate of 0% and no income tax provision or benefit for the period.