(18) Revision of Prior Period Financial Statements

During fiscal 2026, the Company identified errors related to the accounting for certain convertible debt conversion transactions that occurred during fiscal 2025. The Company assessed the materiality of these changes in presentation on prior period consolidated financial statements in accordance with SEC Staff Accounting Bulletin No. 99, “Materiality,” (ASC Topic 250, Accounting Changes and Error Corrections). Based on this assessment, the Company concluded that these error corrections are not material to any previously presented consolidated financial statements. The corrections had no impact on the Consolidated Statement of Cash Flows or notes to these consolidated financial statements, for any previously presented interim or annual consolidated financial statements. Accordingly, the Company corrected the previously reported immaterial errors for the year ended April 30, 2025 in this Annual Report on Form 10-K.

Materiality Assessment and Reliance

The Company evaluated the errors considering both quantitative and qualitative factors and determined that the effects of the errors were not material, individually or in the aggregate, to any previously issued interim or annual financial statements. However, the Company determined that recording the cumulative effect of correcting the errors as an out-of-period adjustment in the current period would have been material to the Company’s results of operations for the fiscal year ended April 30, 2026. Accordingly, the Company revised the applicable prior period amounts.

A summary of the immaterial corrections to the Company’s previously reported audited consolidated financial statements follows:

Schedule of Immaterial Corrections  

Year Ended April 30, 2025