STOCKHOLDERS DEFICIT |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jul. 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| STOCKHOLDERS' DEFICIT | NOTE 8 – STOCKHOLDERS’ DEFICIT
Authorized Shares
As of July 31, 2026 and April 30, 2026, the Company has authorized 50,001,000,000 shares of capital stock, consisting of 50,000,000,000 shares of common stock and 1,000,000 shares of preferred stock.
Common Stock Issuances
During the three months ended July 31, 2026, no shares of common stock were issued.
During the three months ended July 31, 2025, the Company issued a total of 250,000,000 shares of its common stock for services, which were valued at $60,500 based on the value of services given up and the closing market price of the Company’s stock on the day of issuance.
Series A Preferred Stock
The Series A preferred stock has no redemption, conversion or dividend rights; however, the holders of the Series A preferred stock, voting separately as a class, have the right to vote on all shareholder matters equal to 51% of the total vote.
During the three months ended July 31, 2026 and 2025 the Company did not issue any shares of its Series A preferred stock.
Series B Preferred Stock
The Series B preferred stock has a stated value equal to $1,000, has no redemption or voting rights, and are entitled to receive dividends on preferred stock equal, on an as-of-converted-to-common-stock basis, to and in the same form as the dividends paid on shares of the common stock. The Series B preferred stock was convertible, at the option of the holder, into the number of shares of common stock determined by dividing the stated value of such share of Preferred Stock by the initial Conversion Price of $0.10, which was adjusted to $0.05 per share effective June 7, 2022 and to $0.000058 effective May 5, 2023.
During the three months ended July 31, 2026 and 2025 the Company did not issue any shares of its Series B preferred stock.
During the three months ended July 31, 2026, the Company cancelled 974 shares of its Series B preferred stock as a result of a Settlement Agreement and Release with Sabby Volatility Warrant Master Fund Ltd.
Changes in Non-Controlling Interest
During the three months ended July 31, 2026, the Company decreased its membership interest in Pecos UltraCleaning Refining, LLC and Trans Permian Energy, LLC from 89.55% to 86.13% through the sale of membership interest from noncontrolling members for $3,300,000 in cash and $500,000 in prepaid services. The transactions were accounted for as an equity transaction in accordance with ASC 810, with no gain or loss recognized in the consolidated statement of income.
The carrying amount of the noncontrolling interest was increased by $72,661, and the difference of $3,727,339 between the consideration paid and the adjustment to the noncontrolling interest was recorded as an increase to additional paid‑in capital.
No other changes in ownership interest occurred during the three months ended July 31,2026.
Warrants
A summary of warrant activity during the three months ended July 31, 2026 is presented below:
Common Stock Reserved
Combined with the 22,295,726,723 common shares outstanding as of July 31, 2026, all authorized common shares had been issued or reserved for issuance of outstanding warrants, stock options, and convertible notes payable and no common shares were available for share issuances other than those shares included in the reserves. |
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