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(the “Company”) is a biotechnology company focused on developing cellular therapies for cancer based upon a proprietary cellulose-based live cell encapsulation technology known as “Cell-in-a-Box^®.” The Cell-in-a-Box^® technology is intended to be used as a platform upon which therapies for several types of cancer, including locally advanced, inoperable pancreatic cancer (“LAPC”) will be developed. The current generation of the Company’s product candidate is referred to as “CypCaps™.”</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is a Nevada corporation incorporated in 1996. In 2013, the Company restructured its operations to focus on biotechnology. The Company acquired licenses from SG Austria Pte. Ltd., a Singapore corporation (“SG Austria”) and its wholly owned subsidiary, Austrianova Singapore Pte. Ltd., a Singapore corporation (“Austrianova Singapore”) using the Cell-in-a-Box technology to treat cancer. The restructuring resulted in the Company focusing all its efforts upon the development of a novel, effective and safe way to treat cancer. In January 2015, the Company changed its name from Nuvilex, Inc. to PharmaCyte Biotech, Inc. to reflect the nature of its current business. In October 2021, the Company moved its headquarters from Laguna Hills, California to Las Vegas, Nevada.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On September 1, 2020, the Company submitted an Investigational New Drug Application (“IND”) to the U.S. Food and Drug Administration (“FDA”) for a planned clinical trial in locally advanced pancreatic cancer (“LAPC”). On October 1, 2020, the Company received notice from the FDA that it had placed the IND on clinical hold. On October 30, 2020, the FDA sent a letter to the Company setting forth the reasons for the clinical hold and specific guidance on what the Company must do to have the clinical hold lifted.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">To lift the clinical hold, the FDA informed the Company that it needs to conduct several additional preclinical studies. The FDA also requested additional information regarding several topics, including DNA sequencing data, manufacturing information and product release specifications. The Company has been in the process of conducting these studies and gathering additional information to submit to the FDA. See “Investigational New Drug Application and Clinical Hold” below.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On August 15, 2022, the Company entered into a Cooperation Agreement (“Cooperation Agreement”) with Iroquois Master Fund Ltd. and its affiliates, pursuant to which the Company elected a reconstituted Board of Directors (the “Board”). The Board has formed a Business Review Committee to evaluate, investigate and review the Company’s business, affairs, strategy, management and operations and in its sole discretion to make recommendations to the Company’s management and Board with respect thereto. The Business Review Committee is also reviewing many of the risks relative to the Company’s business. In addition, the Board is reviewing the Company’s development programs and its relationship with SG Austria, including that all licensed patents have expired, that know-how relating to the Company’s Cell-in-a-Box® technology solely resides with SG Austria, and that the incentives of SG Austria and its management may not be currently aligned with those of the Company. The Board has curtailed spending on the Company’s programs, including pre-clinical and clinical activities, until the review by the Business Review Committee and the Board is complete and the Board has determined the actions and plans to be implemented. The Business Review Committee’s recommendations will include potentially seeking a new framework for the Company’s relationship with SG Austria and its subsidiaries. In the event the Company is unsuccessful in seeking an acceptable new framework, the Company will reevaluate whether it should continue those programs which are dependent on SG Austria, including its development programs for LAPC. The issues involving SG Austria have delayed the Company’s timeline for addressing the FDA clinical hold for its planned clinical trial in LAPC and could result in other delays or termination of the development activities. In addition, the curtailment of spending on the Company’s programs pending the review by the Business Review Committee and the Board may cause additional delays.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Cell-in-a-Box^® encapsulation technology potentially enables genetically engineered live human cells to be used as a means to produce various biologically active molecules. The technology is intended to result in the formation of pinhead sized cellulose-based porous capsules in which genetically modified live human cells can be encapsulated and maintained. In a laboratory setting, this proprietary live cell encapsulation technology has been shown to create a micro-environment in which encapsulated cells survive and flourish. They are protected from environmental challenges, such as the shear forces associated with bioreactors and passage through catheters and needles, which the Company believes enables greater cell growth and production of the active molecules. The capsules are largely composed of cellulose (cotton) and are bioinert.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has been developing therapies for pancreatic solid cancerous tumors by using genetically engineered live human cells that it believes are capable of converting a cancer prodrug into its cancer-killing form. The Company encapsulates those cells using the Cell-in-a-Box^® technology and places those capsules in the body as close as possible to the tumor. In this way, the Company believes that when a cancer prodrug is administered to a patient with a particular type of cancer that may be affected by the prodrug, the reduction in the size of the tumor to potentially increase the success rate of surgical intervention.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Until the review by the Business Review Committee and the Board is complete and the Board has determined the actions and plans to be implemented, spending on the Company’s programs has been curtailed.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span style="text-decoration: underline">Investigational New Drug Application and Clinical Hold</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On September 1, 2020, the Company submitted an IND to the FDA for a planned clinical trial in LAPC. On October 1, 2020, the Company received notice from the FDA that it had placed the Company’s IND on clinical hold. On October 30, 2020, the FDA sent the Company a letter setting forth the reasons for the clinical hold and providing specific guidance on what the Company must do to have the clinical hold lifted.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">In order to address the clinical hold, the FDA requested that the Company:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provide additional sequencing data and genetic stability studies;</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: top"> <td> </td> <td><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Conduct a stability study on ‌the Company’s final formulated product candidate as well as the cells from the Company’s Master Cell Bank;</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: top"> <td> </td> <td><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Evaluate the compatibility of the delivery devices (the prefilled syringe and the microcatheter used to implant the CypCaps^™) with ‌the Company’s product candidate for pancreatic cancer;</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td> </td> <td><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provide additional detailed description of the manufacturing process of ‌the Company’s product candidate for pancreatic cancer;</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td> </td> <td><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provide additional product release specifications for the Company’s encapsulated cells;</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td> </td> <td><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Demonstrate comparability between the 1^st and 2^nd generation of ‌the Company’s product candidate for pancreatic cancer and ensure adequate and consistent product performance and safety between the two generations;</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: top"> <td> </td> <td><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Conduct a biocompatibility assessment using the Company’s capsules material;</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td> </td> <td><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Address specified insufficiencies in the Chemistry, Manufacturing and Controls information in the cross-referenced Drug Master File;</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td> </td> <td><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Conduct an additional nonclinical study in a large animal (such as a pig) to assess the safety, activity, and distribution of the product candidate for pancreatic cancer; and</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: top"> <td> </td> <td><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revise the Investigators Brochure to include any additional preclinical studies conducted in response to the clinical hold and remove any statements not supported by the data the Company generated.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The FDA also requested that the Company address the following issues as an amendment to the Company’s IND:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 0.25in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provide a Certificate of Analysis for pc3/2B1 plasmid that includes tests for assessing purity, safety, and potency;</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: top"> <td> </td> <td><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Perform qualification studies for the drug filling step to ensure that the Company’s product candidate for pancreatic cancer remains sterile and stable during the filling process;</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: top"> <td> </td> <td><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Submit an updated batch analysis for the Company’s product candidate for the specific lot that will be used for manufacturing all future product candidates;</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: top"> <td> </td> <td><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provide additional details for the methodology for the Resorufin (CYP2B1) potency and the PrestoBlue cell metabolic assays;</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: top"> <td> </td> <td><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provide a few examples of common microcatheters that fit the specifications in ‌the Company’s Angiography Procedure Manual;</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: top"> <td> </td> <td><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Clarify the language in the Company’s Pharmacy Manual regarding proper use of the syringe fill with the Company’s product candidate for pancreatic cancer; and</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: top"> <td> </td> <td><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provide a discussion with data for trial of the potential for cellular and humoral immune reactivity against the heterologous rat CYP2B1 protein and potential for induction of autoimmune-mediated toxicities in ‌the Company’s study population.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company assembled a scientific and regulatory team of experts to address the FDA requests. Through July 31, 2026, the Company’s scientific consultants have been in active dialog with the FDA. The technology upon which the LAPC treatment will be based on, is intra-arterial chemotherapy. The treatment may not be a treatment of pancreatic cancer, but a method of improving and possibly enabling complete surgical resection of the tumor. The Company is waiting for the FDA’s responses and hopes the FDA will accept that the LAPC treatment now meets manufacturing standard requirements, which have significantly improved since the clinical hold was first placed. The FDA may require additional preclinical studies when the meeting takes place. The Company is in ongoing dialogue with SG Austria to prepare for the next steps including encapsulation of the cells, testing the glide force and pressure testing of pushing the cells through syringes and catheters.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p id="xdx_800_eus-gaap--SubstantialDoubtAboutGoingConcernTextBlock_z2eMDraj4Q26" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 2 – <span id="xdx_82C_zGwWSabg8huh">LIQUIDITY AND OTHER UNCERTAINTIES</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of July 31, 2026, the Company had approximately $<span id="xdx_907_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pp0p0_dxH_c20260731_zdnjvazX6ZI4" title="Cash and cash equivalents::XDX::17738991">17.7</span> million in cash and cash equivalents as compared to approximately $<span id="xdx_901_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pp0p0_dxH_c20260430_zsNepbWwL6q7" title="Cash and cash equivalents::XDX::18603899">18.6</span> million at April 30, 2026. The Company expects that its current cash and cash equivalents of approximately $17 million, as of the filing of this Quarterly Report on Form 10-Q, will be sufficient to support its projected operating requirements and financial commitments for at least the next twelve months from the date of this Quarterly Report.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company expects to need additional capital in order to complete a clinical trial for the treatment of pancreatic cancer. Any additional equity financing, if available, may not be on favorable terms and would likely be significantly dilutive to the Company’s current stockholders and debt financing, if available, may involve restrictive covenants. If the Company is able to access funds through collaborative or licensing arrangements, it may be required to relinquish rights to some of its product candidates that the Company would otherwise seek to develop or commercialize on its own, on terms that are not favorable to the Company. The Company’s ability to access capital is not assured and, if not achieved on a timely basis, will likely have a material adverse effect on the Company’s business, financial condition and results of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company operates in an industry that is subject to rapid technological change, competition and government regulation. The Company’s operations are subject to significant risk and uncertainties including financial operational, technological, regulatory, and other risks. Such factors include but are not limited to results of clinical testing and trial activities, the ability to obtain regulatory approval, the supply of needed materials, the ability to obtain manufacturing and the ability to raise capital to achieve strategic objectives.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p> <p id="xdx_807_eus-gaap--SignificantAccountingPoliciesTextBlock_zQTttvENgjig" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 3 – <span id="xdx_82E_zSUcHIUX3IW4">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p id="xdx_847_eus-gaap--ConsolidationPolicyTextBlock_zZuXfTBXu5a7" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="xdx_866_zcU3KDq6JlW7">Principles of Consolidation and Basis of Presentation</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. GAAP for interim financial information and the rules and regulations of the United States Securities and Exchange Commission (the “Commission”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, such statements include all adjustments (consisting only of normal recurring items) which are considered necessary for a fair statement of the unaudited condensed consolidated financial statements of the Company as of July 31, 2026 and for the three months then ended. The results of operations for the three months ended July 31, 2026 are not necessarily indicative of the operating results for the year or any other period. These unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and related disclosures as of April 30, 2026 and for the year then ended which are included in the Company’s Annual Report on Form 10- K, filed with the SEC on July 29, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. The Company operates independently and through three wholly owned subsidiaries: (i) PharmaCyte Biotech Europe Limited; (ii) PharmaCyte Biotech Australia Pty. Ltd.; and (iii) Viridis Biotech, Inc. and are prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and the rules and regulations of the Commission. Upon consolidation, intercompany balances and transactions are eliminated.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_840_eus-gaap--UseOfEstimates_zyD33bNAPe3c" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="xdx_86F_zf2KjhTVFyOg">Use of Estimates in the Preparation of Financial Statements</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in accordance with U.S. GAAP requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities known to exist as of the date the financial statements are published and the reported amounts of revenues and expenses during the reporting period. Uncertainties with respect to such estimates and assumptions are inherent in the preparation of the Company’s unaudited condensed consolidated financial statements; accordingly, it is possible that the actual results could differ from these estimates and assumptions, which could have a material effect on the reported amounts of the Company’s condensed consolidated financial position and results of operations. The Company’s most significant estimates and assumptions are the assessment of the fair value measurements of investments, the valuation of warrants and derivative liabilities, and the measurement of stock-based compensation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_84B_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_znvFb08qZTLf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="xdx_864_zGoWyk42vdwk">Cash and Cash Equivalents</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Cash and cash equivalents include cash in banks and short-term liquid investments purchased with maturities of three months or less. Additionally, the Company, as of July 31, 2026 and April 30, 2026 had $<span id="xdx_902_eus-gaap--CashUninsuredAmount_iI_pn5n6_c20260731_zNX3fptQER07" title="Cash, uninsured amount">1.6</span> million and $<span id="xdx_90F_eus-gaap--CashUninsuredAmount_iI_pn5n6_c20260430_zMasQXEMO6We" title="Cash, uninsured amount">2.1</span> million, respectively, in a money market fund that is not insured by the Federal Deposit Insurance Corporation (“FDIC”) and is classified as a cash equivalent. The Company has no significant off-balance-sheet concentrations of credit risk such as foreign exchange contracts, options contracts or other foreign hedging arrangements. The Company maintains most of its cash balance at financial institutions located throughout the U.S. Accounts at these institutions are insured by the FDIC up to $<span id="xdx_90E_eus-gaap--CashFDICInsuredAmount_iI_c20260731_zbPo157xM7E1" title="FDIC amount">250,000</span>. The Company has not experienced any losses in such accounts. Management believes it is not exposed to any significant credit risk on cash.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_84E_eus-gaap--FairValueOfFinancialInstrumentsPolicy_zxnI56GB5dZa" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="xdx_868_zEl2mtOfmYB4">Fair Value of Financial Instruments</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Accounting Standards Codification (“ASC”) Topic 820, “Fair Value Measurements and Disclosures,” requires disclosure of the fair value of financial instruments held by the Company. ASC Topic 825, “Financial Instruments,” defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The carrying amounts reported in the Consolidated Balance Sheets for current assets and liabilities qualify as financial instruments and are a reasonable estimate of their fair values because of the short period between the origination of such instruments and their expected realization and their current market rate of interest. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of valuation hierarchy are defined as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px; text-align: justify"><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1. Observable inputs such as quoted prices in active markets</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2. Inputs, other than the quoted prices in active markets, which are observable either directly or indirectly; and</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3. Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">These unobservable inputs are significant to the fair value measurement.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_843_eus-gaap--SegmentReportingPolicyPolicyTextBlock_zEA7MS9dFNMb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="xdx_862_zt9nPjOZLV6h">Segment Reporting</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company operates in <span id="xdx_90F_eus-gaap--NumberOfReportableSegments_dxL_uInteger_c20260501__20260731_zXJayUK4ZWM2" title="::XDX::1"><span style="-sec-ix-hidden: xdx2ixbrl0569">one</span></span> business segment, which includes the business of research and development activities related to developing cellular cancer therapies. The determination of a single business segment is consistent with the financial information regularly provided to the Company’s chief operating decision maker (“CODM”). The Company’s CODM is its President and CEO, who reviews and evaluates consolidated net income as presented in the accompanying consolidated statements of operations for purposes of assessing performance, making operating decisions, allocating resources, and planning and forecasting for future periods.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p id="xdx_847_eus-gaap--ConsolidationPolicyTextBlock_zZuXfTBXu5a7" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="xdx_866_zcU3KDq6JlW7">Principles of Consolidation and Basis of Presentation</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. GAAP for interim financial information and the rules and regulations of the United States Securities and Exchange Commission (the “Commission”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, such statements include all adjustments (consisting only of normal recurring items) which are considered necessary for a fair statement of the unaudited condensed consolidated financial statements of the Company as of July 31, 2026 and for the three months then ended. The results of operations for the three months ended July 31, 2026 are not necessarily indicative of the operating results for the year or any other period. These unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and related disclosures as of April 30, 2026 and for the year then ended which are included in the Company’s Annual Report on Form 10- K, filed with the SEC on July 29, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. The Company operates independently and through three wholly owned subsidiaries: (i) PharmaCyte Biotech Europe Limited; (ii) PharmaCyte Biotech Australia Pty. Ltd.; and (iii) Viridis Biotech, Inc. and are prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and the rules and regulations of the Commission. Upon consolidation, intercompany balances and transactions are eliminated.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_840_eus-gaap--UseOfEstimates_zyD33bNAPe3c" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="xdx_86F_zf2KjhTVFyOg">Use of Estimates in the Preparation of Financial Statements</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in accordance with U.S. GAAP requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities known to exist as of the date the financial statements are published and the reported amounts of revenues and expenses during the reporting period. Uncertainties with respect to such estimates and assumptions are inherent in the preparation of the Company’s unaudited condensed consolidated financial statements; accordingly, it is possible that the actual results could differ from these estimates and assumptions, which could have a material effect on the reported amounts of the Company’s condensed consolidated financial position and results of operations. The Company’s most significant estimates and assumptions are the assessment of the fair value measurements of investments, the valuation of warrants and derivative liabilities, and the measurement of stock-based compensation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_84B_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_znvFb08qZTLf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="xdx_864_zGoWyk42vdwk">Cash and Cash Equivalents</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Cash and cash equivalents include cash in banks and short-term liquid investments purchased with maturities of three months or less. Additionally, the Company, as of July 31, 2026 and April 30, 2026 had $<span id="xdx_902_eus-gaap--CashUninsuredAmount_iI_pn5n6_c20260731_zNX3fptQER07" title="Cash, uninsured amount">1.6</span> million and $<span id="xdx_90F_eus-gaap--CashUninsuredAmount_iI_pn5n6_c20260430_zMasQXEMO6We" title="Cash, uninsured amount">2.1</span> million, respectively, in a money market fund that is not insured by the Federal Deposit Insurance Corporation (“FDIC”) and is classified as a cash equivalent. The Company has no significant off-balance-sheet concentrations of credit risk such as foreign exchange contracts, options contracts or other foreign hedging arrangements. The Company maintains most of its cash balance at financial institutions located throughout the U.S. Accounts at these institutions are insured by the FDIC up to $<span id="xdx_90E_eus-gaap--CashFDICInsuredAmount_iI_c20260731_zbPo157xM7E1" title="FDIC amount">250,000</span>. The Company has not experienced any losses in such accounts. Management believes it is not exposed to any significant credit risk on cash.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> 1600000 2100000 250000 <p id="xdx_84E_eus-gaap--FairValueOfFinancialInstrumentsPolicy_zxnI56GB5dZa" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="xdx_868_zEl2mtOfmYB4">Fair Value of Financial Instruments</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Accounting Standards Codification (“ASC”) Topic 820, “Fair Value Measurements and Disclosures,” requires disclosure of the fair value of financial instruments held by the Company. ASC Topic 825, “Financial Instruments,” defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The carrying amounts reported in the Consolidated Balance Sheets for current assets and liabilities qualify as financial instruments and are a reasonable estimate of their fair values because of the short period between the origination of such instruments and their expected realization and their current market rate of interest. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of valuation hierarchy are defined as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px; text-align: justify"><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1. Observable inputs such as quoted prices in active markets</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2. Inputs, other than the quoted prices in active markets, which are observable either directly or indirectly; and</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3. Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">These unobservable inputs are significant to the fair value measurement.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_843_eus-gaap--SegmentReportingPolicyPolicyTextBlock_zEA7MS9dFNMb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="xdx_862_zt9nPjOZLV6h">Segment Reporting</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company operates in <span id="xdx_90F_eus-gaap--NumberOfReportableSegments_dxL_uInteger_c20260501__20260731_zXJayUK4ZWM2" title="::XDX::1"><span style="-sec-ix-hidden: xdx2ixbrl0569">one</span></span> business segment, which includes the business of research and development activities related to developing cellular cancer therapies. The determination of a single business segment is consistent with the financial information regularly provided to the Company’s chief operating decision maker (“CODM”). The Company’s CODM is its President and CEO, who reviews and evaluates consolidated net income as presented in the accompanying consolidated statements of operations for purposes of assessing performance, making operating decisions, allocating resources, and planning and forecasting for future periods.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p id="xdx_804_eus-gaap--InvestmentHoldingsTextBlock_zbpHtqzg9yGh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 4 – <span id="xdx_82D_zi0KNyqV1qGj">INVESTMENT IN DEBT AND EQUITY SECURITIES</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>INVESTMENT IN FEMASYS, INC.</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On June 5, 2026, Femasys announced a <span id="xdx_900_eus-gaap--StockholdersEquityReverseStockSplit_c20260604__20260605__us-gaap--TransactionTypeAxis__custom--FemasysPurchaseAgreementMember_zopoi0bii2H6">20 to 1 reverse stock split</span>, resulting in reducing the Company’s holding to <span id="xdx_90A_eus-gaap--InvestmentOwnedBalanceShares_iI_c20260605__us-gaap--TransactionTypeAxis__custom--FemasysPurchaseAgreementMember_z9O9ILzaCWp4">34,777</span> shares of Femasys common stock (the “Femasys Shares”). On November 14, 2023, the Company entered into a Securities Purchase Agreement (the “Femasys Purchase Agreement”) with Femasys Inc. (“Femasys”), which included Series A Warrants (the “Series A Warrants”) to purchase up to an aggregate of initial pre-reverse stock split, <span id="xdx_904_eus-gaap--InvestmentOwnedBalanceShares_iI_c20231114__us-gaap--TransactionTypeAxis__custom--FemasysPurchaseAgreementMember_z72TlhsJhn6a">4,237,288</span> Femasys Shares at an exercise price of $1.18 per share. The post reverse stock split Series A Warrants were revised to purchase up to 211,865 Femasys Shares at an exercise price of $23.60 per share. The Series A Warrants expire five years from the date of issuance.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Femasys Warrants are accounted for as an equity security and are valued using a Monte Carlo simulation based on “Level 3” inputs, which consist of unobservable inputs and reflect management’s estimates of assumptions that market participants would use in pricing the asset, recorded at fair value with subsequent changes included within change in fair value of the warrants in the unaudited condensed consolidated statement of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of July 31, 2026, the fair value of the Femasys Series A Warrants was approximately $<span id="xdx_905_eus-gaap--InvestmentOwnedAtFairValue_iI_c20260731__us-gaap--TransactionTypeAxis__custom--FemasysPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--FemasysSeriesAWarrantsMember_zEDK8nI7Hej3" title="Investment fair value">66,000</span> and was determined utilizing the following assumptions: Femasys, post reverse stock split stock price of $2.86, exercise price of $23.60, risk free rate of 4.21%, equity volatility of 95.0% and remaining term of 2.29 years.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company recognized the Femasys Warrants based on their respective fair values as of April 30, 2026 of $<span id="xdx_908_ecustom--ConvertibleNoteReceivableCurrent_iI_pp0p0_c20260430__us-gaap--TransactionTypeAxis__custom--FemasysWarrantsMember_z4rRwh3IluP" title="Convertible note receivable, current">480,000</span>. Subsequent changes in the fair value of the Femasys Warrants are recognized in earnings, at each reporting date. During the three months ended July 31, 2026, the Company recognized losses for change in fair value of the warrant asset of $<span id="xdx_90F_ecustom--ChangeInFairValueOfWarrantAssetFemasys_pp0p0_c20260501__20260731__us-gaap--TransactionTypeAxis__custom--FemasysWarrantsMember_z7U4mrtoZSca" title="Change in fair value of the convertible note receivable">414,000</span>. See Note 11 – Fair Value Measurements for further information.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Below is a summary of activity for the Femasys Warrants as of July 31, 2026:</p> <table cellpadding="0" cellspacing="0" id="xdx_89F_eus-gaap--ScheduleOfOtherInvestmentsNotReadilyMarketableTextBlock_zYcXvW6VgmDl" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - INVESTMENT IN DEBT AND EQUITY SECURITIES (Details - Femasys Note and warrants)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B0_zd3bBmfY9laa" style="display: none">Schedule of activity for the notes and warrants</span></td> <td> </td> <td style="text-align: right"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 83%; text-align: justify">Balance of Femasys Warrant Asset as of April 30, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_ecustom--WarrantAssetFemasys_iS_c20260501__20260731__us-gaap--InvestmentTypeAxis__custom--FemasysWarrantsMember_zZzKIJ1PqgAl" style="width: 13%; text-align: right" title="Investment, beginning balance">480,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_ecustom--ChangeInFairValueOfWarrantAssetFemasys_c20260501__20260731__us-gaap--InvestmentTypeAxis__custom--FemasysWarrantsMember_pp0p0" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value">(414,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 2.5pt">Balance of Femasys Warrant Asset as of July 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_ecustom--WarrantAssetFemasys_iE_c20260501__20260731__us-gaap--InvestmentTypeAxis__custom--FemasysWarrantsMember_zMcGNumvPHuj" style="border-bottom: Black 2.5pt double; text-align: right" title="Investment, ending balance">66,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AB_zSyhc4iWsLI2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>MARKETABLE SECURITIES</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The related unrealized loss pertaining to the investment in Femasys Shares is recorded in other income and expense. The Company holds a total of <span id="xdx_901_eus-gaap--InvestmentOwnedBalanceShares_iI_c20260731__srt--CounterpartyNameAxis__custom--FemasysMember_zY0cEOlO8mJ3">34,777</span> post reverse stock split of Femasys Shares. The Company elected the fair value option on the investment. As of July 31, 2026, the current market value of the post reverse Femasys Shares was $2.86 that generated an unrealized loss of $<span id="xdx_90F_eus-gaap--MarketableSecuritiesUnrealizedGainLoss_iN_di_c20260501__20260731__srt--CounterpartyNameAxis__custom--FemasysMember_zCGb1NGtDK5i">154,548</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Cost and fair value of marketable equity securities at July 31, 2026 are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--ScheduleOfSecuritiesOwnedNotReadilyMarketableTextBlock_zqBqYg9C8ha4" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INVESTMENT IN DEBT AND EQUITY SECURITIES (Details - Marketable securities)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B8_ziIoeuPoAwSk" style="display: none">Schedule of marketable equity securities</span></td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 83%; text-align: justify">Balance of securities as of April 30, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--MarketableSecurities_iS_c20260501__20260731__us-gaap--TransactionTypeAxis__custom--FemasysPurchaseAgreementMember_ziDwGo7EYOZc" style="width: 13%; text-align: right" title="Marketable equity securities, beginning balance">254,010</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Change in fair market value – unrealized loss</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--MarketableSecuritiesUnrealizedGainLoss_c20260501__20260731__us-gaap--TransactionTypeAxis__custom--FemasysPurchaseAgreementMember_zGwdL90bDPg7" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair market value unrealized gain (loss)">(154,548</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 2.5pt">Carrying value of securities as of July 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--MarketableSecurities_iE_c20260501__20260731__us-gaap--TransactionTypeAxis__custom--FemasysPurchaseAgreementMember_zbweBHashrsc" style="border-bottom: Black 2.5pt double; text-align: right" title="Marketable equity securities, ending balance">99,462</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A7_zpK181w1ug8l" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The fair value of equity securities has been measured on a recurring basis using Level 1 inputs, which are based on unadjusted quoted market prices within active markets. There have been no changes in valuation approaches or techniques and related inputs.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white"><b>INVESTMENT IN Q/C TECHNOLOGIES, INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Series G Preferred Shares and Warrants</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On May 20, 2024, the Company entered into a Securities Purchase Agreement (the “Series G SPA”) with a public company operating in the medical industry, MyMD Pharmaceuticals, Inc. which subsequently changed its name to TNF Pharmaceuticals, Inc. and then to Q/C Technologies, Inc. (“QCLS”). Pursuant to the Series G SPA, the Company purchased (i) <span id="xdx_90C_eus-gaap--InvestmentOwnedBalanceShares_iI_c20240520__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--CounterpartyNameAxis__custom--QCLSMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zdnilkviww77" title="Investment shares owned">7,000</span> shares of QCLS’s Series G Convertible Preferred Stock (the “Series G Preferred Shares” or “Series G Preferred Stock”) with an original conversion price of $1.816 per Series G Preferred Share, which were initially convertible into 3,854,626 shares of common stock of QCLS (“QCLS Common Stock”); (ii) warrants to purchase up to <span id="xdx_90E_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20240520__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--CounterpartyNameAxis__custom--QCLSMember__us-gaap--ClassOfWarrantOrRightAxis__custom--LongTermWarrantMember_z3g708MMUKyf" title="Warrants">3,854,626</span> shares of QCLS Common Stock with a five-year term (“QCLS Series G Long-Term Warrant”); and (iii) warrants to purchase up to <span id="xdx_908_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20240520__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--CounterpartyNameAxis__custom--QCLSMember__us-gaap--ClassOfWarrantOrRightAxis__custom--ShortTermWarrantMember_zLOEDMwNWnq1" title="Warrants">3,854,626</span> shares of QCLS Common Stock with a 18-month term (“QCLS Series G Short-Term Warrant”) (collectively, the “QCLS Series G Warrants”), for an aggregate purchase price of $<span id="xdx_90F_eus-gaap--PaymentsToAcquireInvestments_c20240519__20240520__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--CounterpartyNameAxis__custom--QCLSMember_zP7m2UMnEZxg" title="Payments for investments">7,000,000</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In April 2025, QCLS issued securities that caused changes to the original terms of the Series G Preferred Stock. The conversion and exercises prices were adjusted to $0.1832 per Series G Preferred Share, the number of QCLS Series G Long-Term Warrants were adjusted to purchase <span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20260430__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--CounterpartyNameAxis__custom--QCLSMember__us-gaap--ClassOfWarrantOrRightAxis__custom--LongTermWarrantMember_z9TcNI46cCz2" title="Warrants">38,209,611</span> shares of QCLS Common Stock and the number of QCLS Series G Short-Term Warrants were adjusted to purchase 38,209,611 shares of QCLS Common Stock. In September 2025, in connection with the QCLS’ <span id="xdx_90F_eus-gaap--StockholdersEquityReverseStockSplit_c20250901__20250930__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--CounterpartyNameAxis__custom--QCLSMember_zuf17G9vdiVh" title="Stockholders equity, reverse stock split">1-for-100 reverse stock split</span> and pursuant to the stock combination event adjustment provisions of the Series G Preferred Shares and QCLS Series G Warrants, the conversion price and the exercise price was adjusted to $3.3713 per share, the 7,000 Series G Preferred Shares were adjusted to be convertible into 2,076,351 shares of QCLS Common Stock, and the number of QCLS Series G Long-Term Warrants were adjusted to purchase <span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20250930__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--CounterpartyNameAxis__custom--QCLSMember__us-gaap--ClassOfWarrantOrRightAxis__custom--LongTermWarrantMember_za3nEVLQpk2b" title="Warrants">2,076,351</span> shares of QCLS Common Stock and the number of QCLS Series G Short-Term Warrants were adjusted to purchase <span id="xdx_908_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20250930__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--CounterpartyNameAxis__custom--QCLSMember__us-gaap--ClassOfWarrantOrRightAxis__custom--ShortTermWarrantMember_z2Rer4O3Bxna" title="Warrants">2,076,351</span> shares of QCLS Common Stock. On November 23, 2025, the QCLS Series G Short-Term Warrants expired.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to the Series G SPA, the Company has the right to participate in future sales of QCLS’s equity and equity-linked securities until the second anniversary of the Closing or the date on which no Series G Preferred Shares remain outstanding, whichever is earlier. Additionally, the Company has the right to nominate one individual to serve on QCLS’s board of directors until PharmaCyte no longer beneficially owns at least 20% of QCLS Common Stock on an as-converted basis. The Company’s Chief Executive Officer serves on the board of directors of QCLS and is the QCLS Chief Executive Officer.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company determined that QCLS is a VIE, since QCLS does not have sufficient equity at risk to finance its own operations without additional subordinated financial support. However, the Company has determined that it is not the primary beneficiary of QCLS. Furthermore, Series G Preferred Stock is not considered in substance common stock, and as such, the equity method of accounting does not apply. The Company recorded its investment in Series G Preferred Stock at its fair value as the Company did not elect the measurement alternative to account for the investment at cost less impairment. Subsequent changes in fair value of the Series G Preferred Stock are recognized in earnings at each reporting period. The fair value of the Series G Preferred Stock was estimated utilizing a Monte Carlo simulation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The QCLS Series G Warrants were determined to meet the definition of a derivative and were required to be recorded at fair value in accordance with ASC 815. Subsequent changes in the fair value of the QCLS Series G Warrants are recognized in earnings, at each reporting date. The issuance date fair value of the QCLS Series G Warrants was determined utilizing the Black Scholes Merton Method.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Series G Preferred Stock shares include a 10% dividend, which are payable in cash or shares of QCLS Series G Preferred Stock at the Company’s option, and the Company has elected to receive shares of the QCLS Preferred Stock as Payment in Kind (“PIK”). As of July 31, 2026, and April 30, 2026 the Company owned <span id="xdx_906_eus-gaap--InvestmentOwnedBalanceShares_iI_c20260731__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--CounterpartyNameAxis__custom--QCLSMember__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesGPreferredStockMember_zcggbNwpMDR3" title="Investment shares owned"><span id="xdx_909_eus-gaap--InvestmentOwnedBalanceShares_iI_c20260430__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--CounterpartyNameAxis__custom--QCLSMember__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesGPreferredStockMember_znr3BrV3pDBb" title="Investment shares owned">8,583</span></span> shares including accrued dividend of <span id="xdx_901_eus-gaap--InvestmentOwnedBalanceShares_iI_c20260731__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--CounterpartyNameAxis__custom--QCLSMember__us-gaap--StatementClassOfStockAxis__custom--QCLSAccruedDividendReceivableMember_zcanp7Gi1m09" title="Investment shares owned"><span id="xdx_909_eus-gaap--InvestmentOwnedBalanceShares_iI_c20260430__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--CounterpartyNameAxis__custom--QCLSMember__us-gaap--StatementClassOfStockAxis__custom--QCLSAccruedDividendReceivableMember_z9h878wHJ6n1" title="Investment shares owned">1,583</span></span> shares, Series G Preferred Stock shares, respectively. During the three months ended July 31, 2026, the Company elected to receive the dividends in cash and recorded accrued dividends receivable and dividend income of $<span id="xdx_904_eus-gaap--AccruedInvestmentIncomeReceivable_iI_c20260731__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--CounterpartyNameAxis__custom--QCLSMember_zhp60VlO2Jhe" title="Accrued dividends receivable and dividend income">188,384</span>. As of July 31, 2026 and April 30, 2026, the Company has accrued dividend receivable of $<span id="xdx_90B_eus-gaap--DividendsReceivable_iI_c20260731_z6lSvRst87J3">429,150</span> and $<span id="xdx_907_eus-gaap--DividendsReceivable_iI_c20260430_zTqV19sAM0Yk">240,766</span>, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the three months ended July 31, 2026, a change in estimate was recorded for the QCLS Series G Preferred Stock expected term to settlement from one-year to 0.12 of a year. The change was attributable to when the Company estimates it will be converted into common stock. This change in estimate was accounted for prospectively beginning in the quarter ending July 31, 2026. The change in accounting estimate resulted in a decrease in the fair value of the QCLS Series G Preferred Stock of $1,798,000. The resulting change in accounting estimate negatively impacted other income (expense), net loss and net loss attributable to common stockholders in the amount of $1,798,000. The impact on basic and diluted earnings per share was a reduction of $0.17 per share, from a loss per share of $0.37 to a loss per share of $0.54, with a corresponding net loss attributable to common stockholders of $3,987,807 and $<span id="xdx_903_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_iN_di_c20260501__20260731_z6M1tiKmliK">5,785,807</span>, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended July 31, 2026, the Company recognized a loss for the change in fair value of the Series G Preferred Stock of $<span id="xdx_905_eus-gaap--RealizedInvestmentGainsLosses_iN_di_c20260501__20260731__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember__srt--CounterpartyNameAxis__custom--QCLSMember_zabgZLZ3LbNd" title="Recognized gain (loss)">4,401,000</span>. The $<span id="xdx_904_eus-gaap--InvestmentOwnedAtFairValue_iI_c20260731__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember__srt--CounterpartyNameAxis__custom--QCLSMember_zkjflKKbjNud" title="Investment at fair value">9,365,000</span> fair value of the Series G Preferred Stock was estimated utilizing a Monte Carlo simulation with the following assumptions on July 31, 2026: QCLS stock price of $2.61, expected time to settlement of 0.12 years, dividend rate of 10%, discount market interest rate of 24.9%, risk free rate of 3.79%, equity volatility of 70.0% and probability of default of 1.5%.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended July 31, 2026, the Company recognized a loss of $<span id="xdx_907_eus-gaap--RealizedInvestmentGainsLosses_iN_di_c20260501__20260731__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesGWarrantsMember__srt--CounterpartyNameAxis__custom--QCLSMember_z2YFpIqrd0sf" title="Recognized gain (loss)">2,194,000</span> related to the change in the QCLS Series G Warrants fair value. The $<span id="xdx_90D_eus-gaap--InvestmentOwnedAtFairValue_iI_c20260731__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesGWarrantsMember__srt--CounterpartyNameAxis__custom--QCLSMember_zNw55BVALnw4" title="Investment at fair value">3,822,000</span> fair value of the QCLS Series G Warrants was determined utilizing a Black Scholes Merton model with the following assumptions on July 31, 2026: QCLS stock price of $2.61, exercise price of $3.3713, risk free rate of 4.24%, equity volatility of 130.0% and remaining term of 2.81 years.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Below is a summary of activity for the Series G Preferred Stock as of July 31, 2026:</p> <table cellpadding="0" cellspacing="0" id="xdx_898_eus-gaap--InvestmentTableTextBlock_hus-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_ze4GX5BSaG0l" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INVESTMENT IN DEBT AND EQUITY SECURITIES (Details - Series G Preferred Stock and Preferred Stock Warrants)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B7_zIPIX8orI0Jf"><span id="xdx_8BB_zmLTkCky0cOe" style="display: none">Schedule of activity for series G preferred stock and warrants</span></span></td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 83%; text-align: justify">Balance of Series G Preferred Stock as of April 30, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--InvestmentsAndOtherNoncurrentAssets_iS_c20260501__20260731__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesGPreferredStockMember_z7VCsHZ4zMNd" style="width: 13%; text-align: right" title="Investment, beginnning balance">13,766,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_ecustom--ChangeInFairValueOfInvestment_c20260501__20260731__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesGPreferredStockMember_zTAOGS0XYMM5" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value">(4,401,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 2.5pt">Balance of Series G Preferred Stock as of July 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--InvestmentsAndOtherNoncurrentAssets_iE_c20260501__20260731__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesGPreferredStockMember_zPLWg4AoXDWh" style="border-bottom: Black 2.5pt double; text-align: right" title="Investment, ending balance">9,365,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Below is a summary of activity for the QCLS Warrants as of July 31, 2026:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 83%; text-align: justify">Balance of QCLS Series G Warrant assets as of April 30, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--InvestmentsAndOtherNoncurrentAssets_iS_c20260501__20260731__srt--CounterpartyNameAxis__custom--QCLSMember__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesGWarrantsMember_zIdnkKG0r0o8" style="width: 13%; text-align: right" title="Investment, beginnning balance">6,016,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_ecustom--ChangeInFairValueOfInvestment_c20260501__20260731__srt--CounterpartyNameAxis__custom--QCLSMember__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesGWarrantsMember_zqqa9cHw2Rsg" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value">(2,194,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 2.5pt">Balance of QCLS Series G Warrant assets as of July 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--InvestmentsAndOtherNoncurrentAssets_iE_c20260501__20260731__srt--CounterpartyNameAxis__custom--QCLSMember__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesGWarrantsMember_zIRlCMsTGe4h" style="border-bottom: Black 2.5pt double; text-align: right" title="Investment, ending balance">3,822,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A1_zVHFCC1KPWte" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Series H Preferred Shares and Warrants</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On September 2, 2025, the Company entered into a Securities Purchase Agreement (the “Series H SPA”) with QCLS. Pursuant to the Series H SPA, the Company purchased (i) <span id="xdx_908_eus-gaap--InvestmentOwnedBalanceShares_iI_c20250902__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--CounterpartyNameAxis__custom--QCLSMember__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesHPreferredStockMember_zpLerLacp31i" title="Investment shares owned">3,000</span> shares of QCLS’s Series H Convertible Preferred Stock (the “Series H Preferred Shares” or “Series H Preferred Stock”), at a stated value of $1,000 per Series H Preferred Share, with an initial conversion price of $5.00 which were initially convertible into 600,000 shares of QCLS Common Stock; (ii) warrants to purchase up to <span id="xdx_902_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20250902__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--CounterpartyNameAxis__custom--QCLSMember__us-gaap--ClassOfWarrantOrRightAxis__custom--QCLSSeriesHWarrantMember_zExVhyYAgfx5" title="Warrants">600,000</span> shares of QCLS’s Common Stock with a five-year term (“QCLS Series H Warrant”), for a total purchase price of $<span id="xdx_901_eus-gaap--PaymentsToAcquireInvestments_c20250901__20250902__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--CounterpartyNameAxis__custom--QCLSMember_zTsgYHOfqVp3" title="Payments for investments">3,000,000</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In September 2025, in connection with the QCLS’ 1-for-100 reverse stock split and pursuant to the stock combination event adjustment provisions of the Series H Preferred Shares and QCLS Series H Warrants, the conversion price and the exercise price was adjusted to $<span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250930__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--CounterpartyNameAxis__custom--QCLSMember__us-gaap--ClassOfWarrantOrRightAxis__custom--QCLSSeriesHWarrantMember_zFvoikThHNX1" title="Exercise price">3.3713</span> per share, the 3,000 Series H Preferred Shares were adjusted to be convertible into 889,865 shares of QCLS Common Stock and the number of QCLS Series H Warrants was adjusted to purchase <span id="xdx_900_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20250930__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--CounterpartyNameAxis__custom--QCLSMember__us-gaap--ClassOfWarrantOrRightAxis__custom--QCLSCommonStockMember_zMtLbhQAlk63" title="Warrant shares">889,865</span> shares of QCLS Common Stock.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Series H Preferred Stock is not considered in substance common stock, and as such, the equity method of accounting does not apply. The Company recorded its investment in Series H Preferred Stock at its fair value as the Company did not elect the measurement alternative to account for the investment at cost less impairment. Subsequent changes in fair value of the Series H Preferred Stock are recognized in earnings at each reporting period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The QCLS Series H Warrants were determined to meet the definition of a derivative and were required to be recorded at fair value in accordance with ASC 815. Subsequent changes in the fair value of the QCLS Series H Warrants are recognized in earnings, at each reporting date.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended July 31, 2026, the Company recognized a loss on the change in fair value of the Series H Preferred Stock of $<span id="xdx_901_eus-gaap--DebtSecuritiesRealizedGainLoss_c20260501__20260731__us-gaap--TypeOfArrangementAxis__custom--QCLSSecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesHPreferredStockMember_z4uDXg7xrkpf" title="Recognized gain (loss)">1,149,000</span>. The $<span id="xdx_905_eus-gaap--InvestmentOwnedAtCost_iI_c20260731__us-gaap--TypeOfArrangementAxis__custom--QCLSSecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesHPreferredStockMember_zVzah8vyOMuc">3,310,000</span> fair value of the Series H Preferred Stock was estimated utilizing a probability-weighted scenario model, with the following inputs: the fair value of QCLS Common Stock of <span id="xdx_90C_eus-gaap--DerivativesBasisAndUseOfDerivativesBasisDeterminationOfFairValue_c20260501__20260731__us-gaap--TypeOfArrangementAxis__custom--QCLSSecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesHPreferredStockMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_z3xzc1kazuw7">$2.61</span>, estimated equity volatility of <span id="xdx_903_eus-gaap--DerivativesBasisAndUseOfDerivativesBasisDeterminationOfFairValue_c20260501__20260731__us-gaap--TypeOfArrangementAxis__custom--QCLSSecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesHPreferredStockMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zF70VzXyojO2">101.0%</span>, the time to maturity of <span id="xdx_901_eus-gaap--DerivativesBasisAndUseOfDerivativesBasisDeterminationOfFairValue_c20260501__20260731__us-gaap--TypeOfArrangementAxis__custom--QCLSSecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesHPreferredStockMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_z8GF114d6O2h">0.59 years</span>, the redemption premium of <span id="xdx_90E_eus-gaap--DerivativesBasisAndUseOfDerivativesBasisDeterminationOfFairValue_c20260501__20260731__us-gaap--TypeOfArrangementAxis__custom--QCLSSecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesHPreferredStockMember__us-gaap--MeasurementInputTypeAxis__custom--MeasurementInputRedemptionPremiumMember_z1bv5UOfRbug">106%</span>, the liquidation premium of 125%, the conversion price of $3.3713 per share, a market interest rate of <span id="xdx_90D_eus-gaap--DerivativesBasisAndUseOfDerivativesBasisDeterminationOfFairValue_c20260501__20260731__us-gaap--TypeOfArrangementAxis__custom--QCLSSecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesHPreferredStockMember__us-gaap--MeasurementInputTypeAxis__custom--MeasurementInputMarketInterestRateMember_zZXSwia1V7d3">31.16%</span>, a risk-free rate of <span id="xdx_908_eus-gaap--DerivativesBasisAndUseOfDerivativesBasisDeterminationOfFairValue_c20260501__20260731__us-gaap--TypeOfArrangementAxis__custom--QCLSSecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesHPreferredStockMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zPTKGbAdn6Uk">3.92%</span>, and dividend rate of <span id="xdx_907_eus-gaap--DerivativesBasisAndUseOfDerivativesBasisDeterminationOfFairValue_c20260501__20260731__us-gaap--TypeOfArrangementAxis__custom--QCLSSecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesHPreferredStockMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zO9S5CyyFFrb">7.00%</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended July 31, 2026, the Company recognized a loss of $<span id="xdx_904_eus-gaap--DebtSecuritiesRealizedGainLoss_c20260501__20260731__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesHWarrantsMember_zOHmdMX3nOr3" title="Recognized gain (loss)">987,000</span> related to the change in the QCLS Series H Warrants fair value. The $<span id="xdx_90B_eus-gaap--FairValueAdjustmentOfWarrants_c20260501__20260731__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesHWarrantsMember_zYpswpqgslP3" title="Fair value of the warrants">1,842,000</span> fair value of the QCLS Series H Warrants was determined utilizing a Black Scholes Merton model with the following assumptions on July 31, 2026: the fair value of QCLS’s common stock of <span id="xdx_900_eus-gaap--DerivativesBasisAndUseOfDerivativesBasisDeterminationOfFairValue_c20260501__20260731__us-gaap--TypeOfArrangementAxis__custom--QCLSSecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesHWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_zMaok1efFpd3">$2.61</span>, exercise price of <span id="xdx_90B_eus-gaap--DerivativesBasisAndUseOfDerivativesBasisDeterminationOfFairValue_c20260501__20260731__us-gaap--TypeOfArrangementAxis__custom--QCLSSecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesHWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExercisePriceMember_zo6x9dddfM83">$3.3713</span>, risk free rate of <span id="xdx_909_eus-gaap--DerivativesBasisAndUseOfDerivativesBasisDeterminationOfFairValue_c20260501__20260731__us-gaap--TypeOfArrangementAxis__custom--QCLSSecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesHWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zAsUj8Nqg256">4.31%</span>, equity volatility of <span id="xdx_904_eus-gaap--DerivativesBasisAndUseOfDerivativesBasisDeterminationOfFairValue_c20260501__20260731__us-gaap--TypeOfArrangementAxis__custom--QCLSSecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesHWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zfcHNgeKPSia">127.0%</span>, and remaining term of <span id="xdx_900_eus-gaap--DerivativesBasisAndUseOfDerivativesBasisDeterminationOfFairValue_c20260501__20260731__us-gaap--TypeOfArrangementAxis__custom--QCLSSecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesHWarrantsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zeA3gd30bro2">4.10 years</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has determined that QCLS is a VIE, as QCLS does not have sufficient equity at risk to finance its own operations without additional subordinated financial support. However, the Company has determined that it is not the primary beneficiary of QCLS.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Below is a summary of activity for the Series H Preferred Stock as of July 31, 2026:</p> <table cellpadding="0" cellspacing="0" id="xdx_894_eus-gaap--InvestmentTableTextBlock_hus-gaap--StatementClassOfStockAxis__us-gaap--SeriesHPreferredStockMember_zY20rzi7Oza2" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INVESTMENT IN DEBT AND EQUITY SECURITIES (Details - Series H Preferred Stock and Preferred Stock Warrants)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8BB_zHOHU5ATYvi8" style="display: none">Schedule of activity for series H preferred stock and warrants</span></td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 83%; text-align: justify">Balance of Series H Preferred Stock as of April 30, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--InvestmentsAndOtherNoncurrentAssets_iS_c20260501__20260731__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesHPreferredStockMember_zMjYblpPITL3" style="width: 13%; text-align: right" title="Investment, beginning balance">4,459,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_ecustom--ChangeInFairValueOfInvestmentQcls_c20260501__20260731__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesHPreferredStockMember_pp0p0" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value">(1,149,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 2.5pt">Balance of Series H Preferred Stock as of July 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--InvestmentsAndOtherNoncurrentAssets_iE_c20260501__20260731__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesHPreferredStockMember_zWESujQI0Pjl" style="border-bottom: Black 2.5pt double; text-align: right" title="Investment, ending balance">3,310,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Below is a summary of activity for the QCLS Series H Warrants as of July 31, 2026:</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 83%; text-align: justify">Balance of QCLS Series H Warrant assets as of April 30, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--InvestmentsAndOtherNoncurrentAssets_iS_c20260501__20260731__us-gaap--ClassOfWarrantOrRightAxis__custom--QCLSSeriesHWarrantsMember_z598mHfcdipj" style="width: 13%; text-align: right" title="Investment, beginning balance">2,829,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_ecustom--ChangeInFairValueOfInvestmentQcls_pp0p0_c20260501__20260731__us-gaap--ClassOfWarrantOrRightAxis__custom--QCLSSeriesHWarrantsMember_zfx8cJB7BI2i" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value">(987,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 2.5pt">Balance of QCLS Series H Warrant assets as of July 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--InvestmentsAndOtherNoncurrentAssets_iE_c20260501__20260731__us-gaap--ClassOfWarrantOrRightAxis__custom--QCLSSeriesHWarrantsMember_zkBGTXS9Rgf4" style="border-bottom: Black 2.5pt double; text-align: right" title="Investment, ending balance">1,842,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A1_z8U5d0mOuyp1" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> 20 to 1 reverse stock split 34777 4237288 66000 480000 414000 <table cellpadding="0" cellspacing="0" id="xdx_89F_eus-gaap--ScheduleOfOtherInvestmentsNotReadilyMarketableTextBlock_zYcXvW6VgmDl" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - INVESTMENT IN DEBT AND EQUITY SECURITIES (Details - Femasys Note and warrants)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B0_zd3bBmfY9laa" style="display: none">Schedule of activity for the notes and warrants</span></td> <td> </td> <td style="text-align: right"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 83%; text-align: justify">Balance of Femasys Warrant Asset as of April 30, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_ecustom--WarrantAssetFemasys_iS_c20260501__20260731__us-gaap--InvestmentTypeAxis__custom--FemasysWarrantsMember_zZzKIJ1PqgAl" style="width: 13%; text-align: right" title="Investment, beginning balance">480,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_ecustom--ChangeInFairValueOfWarrantAssetFemasys_c20260501__20260731__us-gaap--InvestmentTypeAxis__custom--FemasysWarrantsMember_pp0p0" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value">(414,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 2.5pt">Balance of Femasys Warrant Asset as of July 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_ecustom--WarrantAssetFemasys_iE_c20260501__20260731__us-gaap--InvestmentTypeAxis__custom--FemasysWarrantsMember_zMcGNumvPHuj" style="border-bottom: Black 2.5pt double; text-align: right" title="Investment, ending balance">66,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 480000 -414000 66000 34777 -154548 <table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--ScheduleOfSecuritiesOwnedNotReadilyMarketableTextBlock_zqBqYg9C8ha4" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INVESTMENT IN DEBT AND EQUITY SECURITIES (Details - Marketable securities)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B8_ziIoeuPoAwSk" style="display: none">Schedule of marketable equity securities</span></td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 83%; text-align: justify">Balance of securities as of April 30, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--MarketableSecurities_iS_c20260501__20260731__us-gaap--TransactionTypeAxis__custom--FemasysPurchaseAgreementMember_ziDwGo7EYOZc" style="width: 13%; text-align: right" title="Marketable equity securities, beginning balance">254,010</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Change in fair market value – unrealized loss</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--MarketableSecuritiesUnrealizedGainLoss_c20260501__20260731__us-gaap--TransactionTypeAxis__custom--FemasysPurchaseAgreementMember_zGwdL90bDPg7" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair market value unrealized gain (loss)">(154,548</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 2.5pt">Carrying value of securities as of July 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--MarketableSecurities_iE_c20260501__20260731__us-gaap--TransactionTypeAxis__custom--FemasysPurchaseAgreementMember_zbweBHashrsc" style="border-bottom: Black 2.5pt double; text-align: right" title="Marketable equity securities, ending balance">99,462</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 254010 -154548 99462 7000 3854626 3854626 7000000 38209611 1-for-100 reverse stock split 2076351 2076351 8583 8583 1583 1583 188384 429150 240766 -5785807 -4401000 9365000 -2194000 3822000 <table cellpadding="0" cellspacing="0" id="xdx_898_eus-gaap--InvestmentTableTextBlock_hus-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_ze4GX5BSaG0l" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INVESTMENT IN DEBT AND EQUITY SECURITIES (Details - Series G Preferred Stock and Preferred Stock Warrants)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B7_zIPIX8orI0Jf"><span id="xdx_8BB_zmLTkCky0cOe" style="display: none">Schedule of activity for series G preferred stock and warrants</span></span></td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 83%; text-align: justify">Balance of Series G Preferred Stock as of April 30, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--InvestmentsAndOtherNoncurrentAssets_iS_c20260501__20260731__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesGPreferredStockMember_z7VCsHZ4zMNd" style="width: 13%; text-align: right" title="Investment, beginnning balance">13,766,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_ecustom--ChangeInFairValueOfInvestment_c20260501__20260731__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesGPreferredStockMember_zTAOGS0XYMM5" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value">(4,401,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 2.5pt">Balance of Series G Preferred Stock as of July 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--InvestmentsAndOtherNoncurrentAssets_iE_c20260501__20260731__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesGPreferredStockMember_zPLWg4AoXDWh" style="border-bottom: Black 2.5pt double; text-align: right" title="Investment, ending balance">9,365,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Below is a summary of activity for the QCLS Warrants as of July 31, 2026:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 83%; text-align: justify">Balance of QCLS Series G Warrant assets as of April 30, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--InvestmentsAndOtherNoncurrentAssets_iS_c20260501__20260731__srt--CounterpartyNameAxis__custom--QCLSMember__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesGWarrantsMember_zIdnkKG0r0o8" style="width: 13%; text-align: right" title="Investment, beginnning balance">6,016,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_ecustom--ChangeInFairValueOfInvestment_c20260501__20260731__srt--CounterpartyNameAxis__custom--QCLSMember__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesGWarrantsMember_zqqa9cHw2Rsg" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value">(2,194,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 2.5pt">Balance of QCLS Series G Warrant assets as of July 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--InvestmentsAndOtherNoncurrentAssets_iE_c20260501__20260731__srt--CounterpartyNameAxis__custom--QCLSMember__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesGWarrantsMember_zIRlCMsTGe4h" style="border-bottom: Black 2.5pt double; text-align: right" title="Investment, ending balance">3,822,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 13766000 -4401000 9365000 6016000 -2194000 3822000 3000 600000 3000000 3.3713 889865 1149000 3310000 $2.61 101.0% 0.59 years 106% 31.16% 3.92% 7.00% 987000 1842000 $2.61 $3.3713 4.31% 127.0% 4.10 years <table cellpadding="0" cellspacing="0" id="xdx_894_eus-gaap--InvestmentTableTextBlock_hus-gaap--StatementClassOfStockAxis__us-gaap--SeriesHPreferredStockMember_zY20rzi7Oza2" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INVESTMENT IN DEBT AND EQUITY SECURITIES (Details - Series H Preferred Stock and Preferred Stock Warrants)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8BB_zHOHU5ATYvi8" style="display: none">Schedule of activity for series H preferred stock and warrants</span></td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 83%; text-align: justify">Balance of Series H Preferred Stock as of April 30, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--InvestmentsAndOtherNoncurrentAssets_iS_c20260501__20260731__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesHPreferredStockMember_zMjYblpPITL3" style="width: 13%; text-align: right" title="Investment, beginning balance">4,459,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_ecustom--ChangeInFairValueOfInvestmentQcls_c20260501__20260731__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesHPreferredStockMember_pp0p0" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value">(1,149,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 2.5pt">Balance of Series H Preferred Stock as of July 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--InvestmentsAndOtherNoncurrentAssets_iE_c20260501__20260731__us-gaap--StatementClassOfStockAxis__custom--QCLSSeriesHPreferredStockMember_zWESujQI0Pjl" style="border-bottom: Black 2.5pt double; text-align: right" title="Investment, ending balance">3,310,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Below is a summary of activity for the QCLS Series H Warrants as of July 31, 2026:</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 83%; text-align: justify">Balance of QCLS Series H Warrant assets as of April 30, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--InvestmentsAndOtherNoncurrentAssets_iS_c20260501__20260731__us-gaap--ClassOfWarrantOrRightAxis__custom--QCLSSeriesHWarrantsMember_z598mHfcdipj" style="width: 13%; text-align: right" title="Investment, beginning balance">2,829,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_ecustom--ChangeInFairValueOfInvestmentQcls_pp0p0_c20260501__20260731__us-gaap--ClassOfWarrantOrRightAxis__custom--QCLSSeriesHWarrantsMember_zfx8cJB7BI2i" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value">(987,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 2.5pt">Balance of QCLS Series H Warrant assets as of July 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--InvestmentsAndOtherNoncurrentAssets_iE_c20260501__20260731__us-gaap--ClassOfWarrantOrRightAxis__custom--QCLSSeriesHWarrantsMember_zkBGTXS9Rgf4" style="border-bottom: Black 2.5pt double; text-align: right" title="Investment, ending balance">1,842,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 4459000 -1149000 3310000 2829000 -987000 1842000 <p id="xdx_80F_eus-gaap--AccountsPayableAccruedLiabilitiesAndOtherLiabilitiesDisclosureCurrentTextBlock_zX7y9kf8b6Ni" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 5 – <span id="xdx_82B_zwvTPI7sNVHd">ACCRUED EXPENSES</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Accrued expenses at July 31, 2026 and April 30, 2026, are summarized below:</p> <table cellpadding="0" cellspacing="0" id="xdx_895_eus-gaap--ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_zYrWbxQalqB7" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - ACCRUED EXPENSES (Details)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8BA_zcsfjhlzzMU" style="display: none">Schedule of accrued expenses</span></td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">July 31, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: justify">Payroll related costs</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--AccruedLiabilitiesCurrent_iI_c20260731__us-gaap--StatementOfFinancialPositionLocationBalanceAxis__us-gaap--AccruedLiabilitiesCurrent__us-gaap--NatureOfExpenseAxis__custom--PayrollRelatedCostsMember_zp9zF8YK0jC9" style="width: 13%; text-align: right" title="Accrued liabilities">185,846</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--AccruedLiabilitiesCurrent_iI_c20260430__us-gaap--StatementOfFinancialPositionLocationBalanceAxis__us-gaap--AccruedLiabilitiesCurrent__us-gaap--NatureOfExpenseAxis__custom--PayrollRelatedCostsMember_z4KE1UCtul8f" style="width: 13%; text-align: right" title="Accrued liabilities">338,021</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Director fees</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--AccruedLiabilitiesCurrent_iI_c20260731__us-gaap--StatementOfFinancialPositionLocationBalanceAxis__us-gaap--AccruedLiabilitiesCurrent__us-gaap--NatureOfExpenseAxis__custom--DirectorFeesMember_zShLu5cChjvg" style="text-align: right" title="Accrued liabilities">67,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--AccruedLiabilitiesCurrent_iI_c20260430__us-gaap--StatementOfFinancialPositionLocationBalanceAxis__us-gaap--AccruedLiabilitiesCurrent__us-gaap--NatureOfExpenseAxis__custom--DirectorFeesMember_zhyKE5Xc8rsf" style="text-align: right" title="Accrued liabilities">67,500</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">R&amp;D costs</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--AccruedLiabilitiesCurrent_iI_c20260731__us-gaap--StatementOfFinancialPositionLocationBalanceAxis__us-gaap--AccruedLiabilitiesCurrent__us-gaap--NatureOfExpenseAxis__custom--RAndDCostsMember_zXPESp58U2yj" style="text-align: right" title="Accrued liabilities">92,310</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--AccruedLiabilitiesCurrent_iI_c20260430__us-gaap--StatementOfFinancialPositionLocationBalanceAxis__us-gaap--AccruedLiabilitiesCurrent__us-gaap--NatureOfExpenseAxis__custom--RAndDCostsMember_zeCgY2MA3l8c" style="text-align: right" title="Accrued liabilities">92,310</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Legal settlement</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--AccruedLiabilitiesCurrent_iI_d0_c20260731__us-gaap--StatementOfFinancialPositionLocationBalanceAxis__us-gaap--AccruedLiabilitiesCurrent__us-gaap--NatureOfExpenseAxis__custom--LegalSettlementMember_zk5OvFFxwsik" style="border-bottom: Black 1pt solid; text-align: right" title="Accrued liabilities">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--AccruedLiabilitiesCurrent_iI_c20260430__us-gaap--StatementOfFinancialPositionLocationBalanceAxis__us-gaap--AccruedLiabilitiesCurrent__us-gaap--NatureOfExpenseAxis__custom--LegalSettlementMember_zXenwEwlizvc" style="border-bottom: Black 1pt solid; text-align: right" title="Accrued liabilities">25,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--AccruedLiabilitiesCurrent_iI_c20260731_zjiYn9Hn08ke" style="border-bottom: Black 2.5pt double; text-align: right" title="Accrued liabilities current">345,656</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--AccruedLiabilitiesCurrent_iI_c20260430_zwWX9ZREdTth" style="border-bottom: Black 2.5pt double; text-align: right" title="Accrued liabilities current">522,831</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A6_z6S6TFKJbYyk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" id="xdx_895_eus-gaap--ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_zYrWbxQalqB7" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - ACCRUED EXPENSES (Details)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8BA_zcsfjhlzzMU" style="display: none">Schedule of accrued expenses</span></td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">July 31, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: justify">Payroll related costs</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--AccruedLiabilitiesCurrent_iI_c20260731__us-gaap--StatementOfFinancialPositionLocationBalanceAxis__us-gaap--AccruedLiabilitiesCurrent__us-gaap--NatureOfExpenseAxis__custom--PayrollRelatedCostsMember_zp9zF8YK0jC9" style="width: 13%; text-align: right" title="Accrued liabilities">185,846</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--AccruedLiabilitiesCurrent_iI_c20260430__us-gaap--StatementOfFinancialPositionLocationBalanceAxis__us-gaap--AccruedLiabilitiesCurrent__us-gaap--NatureOfExpenseAxis__custom--PayrollRelatedCostsMember_z4KE1UCtul8f" style="width: 13%; text-align: right" title="Accrued liabilities">338,021</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Director fees</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--AccruedLiabilitiesCurrent_iI_c20260731__us-gaap--StatementOfFinancialPositionLocationBalanceAxis__us-gaap--AccruedLiabilitiesCurrent__us-gaap--NatureOfExpenseAxis__custom--DirectorFeesMember_zShLu5cChjvg" style="text-align: right" title="Accrued liabilities">67,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--AccruedLiabilitiesCurrent_iI_c20260430__us-gaap--StatementOfFinancialPositionLocationBalanceAxis__us-gaap--AccruedLiabilitiesCurrent__us-gaap--NatureOfExpenseAxis__custom--DirectorFeesMember_zhyKE5Xc8rsf" style="text-align: right" title="Accrued liabilities">67,500</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">R&amp;D costs</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--AccruedLiabilitiesCurrent_iI_c20260731__us-gaap--StatementOfFinancialPositionLocationBalanceAxis__us-gaap--AccruedLiabilitiesCurrent__us-gaap--NatureOfExpenseAxis__custom--RAndDCostsMember_zXPESp58U2yj" style="text-align: right" title="Accrued liabilities">92,310</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--AccruedLiabilitiesCurrent_iI_c20260430__us-gaap--StatementOfFinancialPositionLocationBalanceAxis__us-gaap--AccruedLiabilitiesCurrent__us-gaap--NatureOfExpenseAxis__custom--RAndDCostsMember_zeCgY2MA3l8c" style="text-align: right" title="Accrued liabilities">92,310</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Legal settlement</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--AccruedLiabilitiesCurrent_iI_d0_c20260731__us-gaap--StatementOfFinancialPositionLocationBalanceAxis__us-gaap--AccruedLiabilitiesCurrent__us-gaap--NatureOfExpenseAxis__custom--LegalSettlementMember_zk5OvFFxwsik" style="border-bottom: Black 1pt solid; text-align: right" title="Accrued liabilities">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--AccruedLiabilitiesCurrent_iI_c20260430__us-gaap--StatementOfFinancialPositionLocationBalanceAxis__us-gaap--AccruedLiabilitiesCurrent__us-gaap--NatureOfExpenseAxis__custom--LegalSettlementMember_zXenwEwlizvc" style="border-bottom: Black 1pt solid; text-align: right" title="Accrued liabilities">25,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--AccruedLiabilitiesCurrent_iI_c20260731_zjiYn9Hn08ke" style="border-bottom: Black 2.5pt double; text-align: right" title="Accrued liabilities current">345,656</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--AccruedLiabilitiesCurrent_iI_c20260430_zwWX9ZREdTth" style="border-bottom: Black 2.5pt double; text-align: right" title="Accrued liabilities current">522,831</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 185846 338021 67500 67500 92310 92310 0 25000 345656 522831 <p id="xdx_804_eus-gaap--DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_zqv6GBiif8Gi" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 6 – <span id="xdx_828_z3aIHv4EGIYb">STOCK OPTIONS AND WARRANTS</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>2021 Equity Incentive Plan</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Effective June 30, 2021, the Company implemented the 2021 Equity Incentive Plan (“2021 Equity Plan”) as approved by the Company’s stockholders. The 2021 Equity Plan is administered by the Compensation Committee of the Board and has <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_c20210630__us-gaap--PlanNameAxis__custom--EquityPlan2021Member_zyGJuI5AdDV4" title="Shares authorized for grant">166,667</span> shares authorized under this plan. The 2021 Equity Plan can issue various types of awards, as follows: stock options, stock appreciation rights, restricted stock, restricted stock units, and cash or other stock-based awards. The 2021 Equity Plan is available to be issued to employees, directors, consultants, and other individuals who provide services to the Company. Incentive stock options (“ISOs”) may only be granted to employees and shall not exceed 10-years (5-years in the case of ISOs granted to any 10% shareholder). As of July 31, 2026, there are <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20260731__us-gaap--PlanNameAxis__custom--EquityPlan2021Member_zwAknfuxqh51" title="Shares available for grant">154,929</span> shares remaining available under the 2021 Equity Plan.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>2022 Equity Incentive Plan</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Effective December 28, 2022, the Company implemented the 2022 Equity Incentive Plan (“2022 Equity Plan”) as approved by the Company’s stockholders. In October 2025, the Company held a special meeting of stockholders (the “2025 Special Meeting”). At the 2025 Special Meeting, the stockholders of the Company approved an amendment to the 2022 Equity Plan which, among other things, increased the number of shares of common stock available for grant under the 2022 Equity Plan by <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOtherIncreasesDecreasesInPeriod_c20251001__20251031__us-gaap--PlanNameAxis__custom--EquityPlan2022Member_z5plnEvjAOx" title="Increase number of shares">2,250,000</span>. In March 2026, at the Company’s annual stockholders meeting, the stockholders of the Company approved an amendment to the 2022 Equity Plan which, among other things, increased the number of shares of common stock available under the 2022 Equity Plan by <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOtherIncreasesDecreasesInPeriod_c20260301__20260331__us-gaap--PlanNameAxis__custom--EquityPlan2022Member_z0xMyNkIsref" title="Increase number of shares">2,000,000</span>. The 2022 Equity Plan is administered by the Compensation Committee of the Board and has <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_c20260331__us-gaap--PlanNameAxis__custom--EquityPlan2022Member_zhcoqKcAzsQg" title="Shares authorized for grant">7,000,000</span> shares available under this plan, as amended. The 2022 Equity Plan can issue various types of awards, as follows: stock options, stock appreciation rights, restricted stock, restricted stock units, and cash or other stock-based awards. The 2022 Equity Plan is available to be issued to employees, directors, consultants, and other individuals who provide services to the Company. Incentive stock options (“ISOs”) may only be granted to employees and shall not exceed 10-years (5-years in the case of ISOs granted to any 10% shareholder). As of July 31, 2026, there are <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20260731__us-gaap--PlanNameAxis__custom--EquityPlan2022Member_ziyngUGW9QC4" title="Shares available for grant">4,970,040</span> shares remaining available under the 2022 Equity Plan.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Stock Options</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A summary of the Company’s stock option activity and related information for the three months ended July 31, 2026, are shown below:</p> <table cellpadding="0" cellspacing="0" id="xdx_891_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zHvNk8BywLwh" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - STOCK OPTIONS AND WARRANTS (Details - Option activity)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B6_zpKZURpUyUMi" style="display: none">Schedule of stock option activity</span></td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Options</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of<br/> Options</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted <br/> Average <br/> Exercise <br/> Price per<br/> Share</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted<br/> Average <br/> Remaining<br/> Contractual <br/> Term in Years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 49%; text-align: justify">Outstanding, April 30, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zLJG7y64Bpal" style="width: 13%; text-align: right" title="Number of options outstanding, beginning balance">1,160,627</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zxkgv9Acrtud" style="width: 13%; text-align: right" title="Weighted average exercise price per share, beginning balance">2.14</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250501__20260430__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zzTgT8RgXv4b" title="Weighted average remaining contractual term">7.68</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Issued</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_d0_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zxWweub7sb7l" style="text-align: right" title="Number of options, issued">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_d0_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zHBtjoFokX4i" style="text-align: right" title="Weighted average exercise price per share, issued">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">–</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 1pt">Expired and forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_di_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_ziJL6zAeUBr8" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options, expired and forfeited">(333</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zaTgfF8BoAYc" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price per share, expired and forfeited">16.20</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Outstanding, July 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zMTv1ZcjHsNe" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options outstanding, ending balance">1,160,294</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_z1R5T9S1d2R7" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price per share, ending balance">2.13</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_z5g0lR023cfe" title="Weighted average remaining contractual term">7.43</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 2.5pt">Exercisable, July 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20260731__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zqnpEA28nXX" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options, exercisable">1,160,294</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20260731__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_ztsSAWZyFjx6" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price per share, exercisable">2.13</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_907_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2_dtY_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zPcSHPR0IDqa" title="Weighted-average remaining contractual term, exercisable">7.43</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A8_zZNcC45xY2fl" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company recorded $<span id="xdx_907_eus-gaap--ShareBasedCompensation_c20260501__20260731__srt--CounterpartyNameAxis__custom--EmployeesMember__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_z1AbASg9QAA" title="Stock-based compensation">0</span> and $<span id="xdx_907_eus-gaap--ShareBasedCompensation_c20250501__20250731__srt--CounterpartyNameAxis__custom--EmployeesMember__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zlkOSso8i788" title="Stock-based compensation">60,492</span> of stock-based compensation expense related to the issuance of Employee Options to certain officers and directors in exchange for services during the three months ended July 31, 2026 and 2025, respectively. As of July 31, 2026, there remained $<span id="xdx_901_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions_iI_c20260731__srt--CounterpartyNameAxis__custom--EmployeesMember__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_z78sAK3qdT28" title="Employee service unrecognized compensation expense">0</span> of unrecognized compensation expense related to unvested Employee Options granted to officers and directors.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The aggregate intrinsic value of vested outstanding options as of July 31, 2026 was $<span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue_iI_pp0p0_c20260731__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_z6iFio3p7Fqg" title="Aggregate intrinsic value">0</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Warrants</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Series B Warrant</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On May 10, 2023, the Company entered into a Securities Purchase Agreement (the “Private Placement Agreement”) with certain accredited investors (the “Series B Investors”), pursuant to which it agreed to sell to the Series B Investors warrants to acquire up to an aggregate of <span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20230510__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesBWarrantsMember_zP3L88PRKq3l" title="Warrants acquire">8,750,000</span> shares of Common Stock, collectively, the (“Series B Warrants”), with an exercise price of $<span id="xdx_908_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20230510__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesBWarrantsMember_zkzyQ5NRaf17" title="Warrant exercise price">4.00</span> per share (subject to adjustment), for a period of five years from the date of issuance. In connection with the Series C Private Placement (as defined herein), in August 2025, the exercise price of the Series B Preferred Warrants was adjusted to $<span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250831__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesBWarrantsMember_zon7IENo2b4" title="Exercise price">0.95</span> per share and the number of shares of Common Stock issuable upon exercise of the Series B Warrants was adjusted proportionally to 36,780,161 pursuant to the full ratchet anti-dilution provisions contained therein. As of July 31, 2026, the number of shares of Common Stock issuable upon exercise of the Series B Warrants was 35,680,161.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Series B Warrants were determined to be subject to liability classification as they are considered to be indexed to the Company’s own stock but fail to meet the requirements for equity classification in accordance with ASC 815. As such, the Company recorded the Series B Warrants as a liability at fair value with subsequent changes in fair value recognized in earnings. The Company utilized the Black-Scholes-Merton Model to calculate the value of the Series B Warrants issued on May 10, 2023.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended July 31, 2026, the Company recorded a gain of approximately $<span id="xdx_906_ecustom--ChangeInFairValueOfWarrantLiability_iN_di_c20260501__20260731__us-gaap--StatementClassOfStockAxis__custom--SeriesBPreferredWarrantsMember_z2aKkSdvrBf8" title="Change in fair value of warrant liability">3,378,000</span>, related to the change in fair value of the warrant liability which is recorded in other income on the unaudited condensed consolidated statements of operations. The fair value of the Series B Warrants of $<span id="xdx_909_eus-gaap--FinancialLiabilitiesFairValueDisclosure_iI_c20260731__us-gaap--StatementClassOfStockAxis__custom--SeriesBPreferredWarrantsMember_z6Ef2K65YMq" title="Fair value of the warrants">4,205,000</span> was estimated at July 31, 2026, utilizing the Black-Scholes-Merton Model using the fair value of the Company’s common stock of $0.58 and the following weighted average assumptions: dividend yield 0%; remaining term of 1.78 years; equity volatility of 65.0%; and a risk-free interest rate of 4.15%.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Settlement Warrants</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In connection with the Settlement Agreement, as defined on Note 8 – Commitments and Contingencies, on May 16, 2025, the Company issued warrants (“First Warrant Issuance”) to purchase <span id="xdx_905_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20250516__us-gaap--TransactionTypeAxis__custom--SettlementAgreementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--FirstWarrantIssuanceMember_zW3h4v4KkP4g">343,183</span> shares of Common Stock with an exercise price of $4.00 per share and a term of five years from the issuance date. On July 29, 2025, the Company issued additional warrants (“Additional Warrants”, and collectively with the First Warrant Issuance, the “Settlement Warrants”) to purchase <span id="xdx_907_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20251029__us-gaap--TransactionTypeAxis__custom--SettlementAgreementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--SettlementWarrantsMember_zfQA7AOePPt5" title="Warrant purchase">313,067</span> shares of the Company’s common stock with an exercise price of $4.00 per share and a term of five years from the issuance date. In connection with the Series C Private Placement (as defined herein), in August 2025, the exercise price of the Settlement Warrants was adjusted to $0.95 per share and the number of shares of Common Stock issuable upon exercise Settlement Warrants was adjusted proportionally to 2,758,511 pursuant to the full ratchet anti-dilution provisions contained in their respective agreements. See Note 8 – Commitments and Contingencies – Legal Proceedings.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Settlement Warrants were determined to be subject to liability classification. As such, the Company recorded the Settlement Warrants as a liability upon issuance at their fair value with subsequent changes in fair value recognized in earnings.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company utilized the Black-Scholes-Merton Model to calculate the value of the Settlement Warrants issued during the three months ended July 31, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended July 31, 2026, the Company recorded a gain of $<span id="xdx_90C_ecustom--ChangeInFairValueOfWarrantLiability_iN_di_c20260501__20260731__us-gaap--ClassOfWarrantOrRightAxis__custom--SettlementWarrantsMember_zgG2lfuzrsTk">249,000</span>, related to the change in fair value of the warrant liability associated with the Settlement Warrants which is recorded in other income (expense) on the unaudited condensed consolidated statements of operations. The fair value of the Settlement Warrants of $<span id="xdx_906_eus-gaap--FairValueAdjustmentOfWarrants_c20260501__20260731__us-gaap--ClassOfWarrantOrRightAxis__custom--SettlementWarrantsMember_zbpc69NJiKEl" title="Fair value of the warrants">472,000</span> was estimated at July 31, 2026 utilizing the Black-Scholes-Merton Model using the fair value of the Company’s common stock of $0.58 and was based on the following weighted average assumptions: expected dividend yield of 0%; expected term of 3.90 years; equity volatility of 53.0%; and a risk-free interest rate of 4.4%.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Series C Warrant</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On August 17, 2025, the Company entered into a Securities Purchase Agreement (the “Series C Private Placement Agreement”) with certain accredited investors (the “Series C Investors”), pursuant to which it agreed to sell in a private placement to the Series C Investors warrants to acquire up to an aggregate of <span id="xdx_908_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20250817__us-gaap--SubsidiarySaleOfStockAxis__custom--SeriesCPrivatePlacementAgreementMember_zGBJqU0tUCbl">7,000,000</span> shares of Common Stock, collectively, the (“Series C Warrant”), with an exercise price of $<span id="xdx_90E_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250817__us-gaap--SubsidiarySaleOfStockAxis__custom--SeriesCPrivatePlacementAgreementMember_zqkU4oDnZtva" title="Exercise price">1.00</span> per share (subject to adjustment), for a period of five years from the date of issuance. The Series C Private Placement Agreement closed on August 19, 2025.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Series C Warrants were determined to be subject to liability classification as they are considered to be indexed to the Company’s own stock but fail to meet the requirements for equity classification in accordance with ASC 815. As such, the Company recorded the Series C Warrants as a liability at fair value with subsequent changes in fair value recognized in earnings.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended July 31, 2026, the Company recorded a gain of approximately $<span id="xdx_908_ecustom--ChangeInFairValueOfWarrantAsset_c20260501__20260731__us-gaap--SubsidiarySaleOfStockAxis__custom--SeriesCPrivatePlacementAgreementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesCPreferredWarrantsMember_zUfkuQXLsZXg" title="Change in fair value of warrant">594,000</span>, related to the change in fair value of the warrant liability associated with the Series C Warrants which is recorded in other income on the unaudited condensed consolidated statements of operations. The fair value of the Series C Warrants of $<span id="xdx_902_eus-gaap--FairValueAdjustmentOfWarrants_c20260501__20260731__us-gaap--SubsidiarySaleOfStockAxis__custom--SeriesCPrivatePlacementAgreementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesCPreferredWarrantsMember_zdakzo0c2Ao6">1,170,000</span> was estimated at July 31, 2026, utilizing the Black-Scholes-Merton Model using the fair value of the Company’s common stock of $0.58 and the following weighted average assumptions: dividend yield 0%; remaining term of 4.05 years; equity volatility of 52.0%; and a risk-free interest rate of 4.30%.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Placement Agent Warrants</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In connection with the Series C Private Placement Agreement, the Company also issued warrants to purchase up to an aggregate of <span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20250819__us-gaap--SubsidiarySaleOfStockAxis__custom--SeriesCPrivatePlacementAgreementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesCPlacementAgentWarrantsMember_zq1av9ON63Wg">560,000</span> shares of the Common Stock as compensation to placement agents for services rendered (the “Series C Placement Agent Warrants”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Series C Placement Agent Warrants are classified as a contingently redeemable warrant in accordance with ASC 718, as it was determined that the warrants were not precluded from equity classification under that guidance, but could be settled in cash or other assets in the event that another person or entity becomes the beneficial owner of 50% of the outstanding shares of the Common Stock. The Series C Placement Agent Warrants were thus classified in temporary equity on the Company’s condensed consolidated balance sheets as of July 31, 2026 pursuant to ASC 480-10-S99-3A.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of July 31, 2026, the fair value of the Series C Placement Agent Warrants was $<span id="xdx_904_eus-gaap--FairValueAdjustmentOfWarrants_c20250818__20250819__us-gaap--SubsidiarySaleOfStockAxis__custom--SeriesCPrivatePlacementAgreementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesCPlacementAgentWarrantsMember_ztgSaSDMtZGd">417,000</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A summary of the Company’s warrant activity and related information for the three months ended July 31, 2026, is shown below:</p> <table cellpadding="0" cellspacing="0" id="xdx_895_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zWu5LetAFwlh" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - STOCK OPTIONS AND WARRANTS (Details - Warrant activity)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8BB_z2gEii8GbyHi" style="display: none">Schedule of warrant activity</span></td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrants</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted<br/> Average<br/> Exercise Price Per Share</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted<br/> Average<br/> Remaining Contractual Term In Years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 49%">Outstanding, April 30, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ClassOfWarrantOrRightOutstanding_iS_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zcYvNELcfvm4" style="width: 13%; text-align: right" title="Warrants outstanding, beginning balance">55,819,519</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iS_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_z9EeiEXvCpt1" style="width: 13%; text-align: right" title="Weighted average exercise price warrants outstanding, beginning balance">1.68</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right"><span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20250501__20260430__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zJbFM1gtu23i" title="Weighted average remaining contractual term">2.14</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Issued</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--WarrantsIssuedShares_d0_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zRPlGnd0aLX3" style="text-align: right" title="Warrants issued">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_d0_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zWD7kpVxAr12" style="text-align: right" title="Weighted average exercise price warrants issued">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">–</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--WarrantExercised_iN_di0_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_z2WDjD8g77ha" style="text-align: right" title="Warrants exercised">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">–</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--WarrantsExpired_iN_di0_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_ze7QyyUyv24" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants expired">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_ecustom--WeightedAverageExercisePriceWarrantsExpired_d0_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_z5GiiIyQtb1f" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, warrants expired">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 1pt">Outstanding, July 31, 2026</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--ClassOfWarrantOrRightOutstanding_iE_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zqY6go5GYEN1" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants outstanding, ending balance">55,819,519</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iE_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zwgYqSSvup3h" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price warrants outstanding, ending balance">1.68</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zMloSX3cPTyg" title="Weighted average remaining contractual term">1.88</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Exercisable, July 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_ecustom--WarrantsExercisable_iI_c20260731__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_z7tN5ASg9ZKe" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants exercisable">55,819,519</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_ecustom--WeightedAverageExercisePriceWarrantsExercisable_iI_c20260731__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zEJlT5iLRFw3" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price warrants exercisable">1.68</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_904_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2_dtY_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_znMNwh4Mfmr4" title="Weighted-average remaining contractual term, exercisable">1.88</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AD_zuRHOBjKEg9k" style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> 166667 154929 2250000 2000000 7000000 4970040 <table cellpadding="0" cellspacing="0" id="xdx_891_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zHvNk8BywLwh" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - STOCK OPTIONS AND WARRANTS (Details - Option activity)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B6_zpKZURpUyUMi" style="display: none">Schedule of stock option activity</span></td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Options</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of<br/> Options</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted <br/> Average <br/> Exercise <br/> Price per<br/> Share</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted<br/> Average <br/> Remaining<br/> Contractual <br/> Term in Years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 49%; text-align: justify">Outstanding, April 30, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zLJG7y64Bpal" style="width: 13%; text-align: right" title="Number of options outstanding, beginning balance">1,160,627</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zxkgv9Acrtud" style="width: 13%; text-align: right" title="Weighted average exercise price per share, beginning balance">2.14</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250501__20260430__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zzTgT8RgXv4b" title="Weighted average remaining contractual term">7.68</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Issued</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_d0_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zxWweub7sb7l" style="text-align: right" title="Number of options, issued">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_d0_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zHBtjoFokX4i" style="text-align: right" title="Weighted average exercise price per share, issued">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">–</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 1pt">Expired and forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_di_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_ziJL6zAeUBr8" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options, expired and forfeited">(333</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zaTgfF8BoAYc" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price per share, expired and forfeited">16.20</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Outstanding, July 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zMTv1ZcjHsNe" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options outstanding, ending balance">1,160,294</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_z1R5T9S1d2R7" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price per share, ending balance">2.13</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_z5g0lR023cfe" title="Weighted average remaining contractual term">7.43</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 2.5pt">Exercisable, July 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20260731__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zqnpEA28nXX" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options, exercisable">1,160,294</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20260731__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_ztsSAWZyFjx6" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price per share, exercisable">2.13</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_907_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2_dtY_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zPcSHPR0IDqa" title="Weighted-average remaining contractual term, exercisable">7.43</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 1160627 2.14 P7Y8M4D 0 0 333 16.20 1160294 2.13 P7Y5M4D 1160294 2.13 P7Y5M4D 0 60492 0 0 8750000 4.00 0.95 -3378000 4205000 343183 313067 -249000 472000 7000000 1.00 594000 1170000 560000 417000 <table cellpadding="0" cellspacing="0" id="xdx_895_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zWu5LetAFwlh" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - STOCK OPTIONS AND WARRANTS (Details - Warrant activity)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8BB_z2gEii8GbyHi" style="display: none">Schedule of warrant activity</span></td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrants</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted<br/> Average<br/> Exercise Price Per Share</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted<br/> Average<br/> Remaining Contractual Term In Years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 49%">Outstanding, April 30, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ClassOfWarrantOrRightOutstanding_iS_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zcYvNELcfvm4" style="width: 13%; text-align: right" title="Warrants outstanding, beginning balance">55,819,519</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iS_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_z9EeiEXvCpt1" style="width: 13%; text-align: right" title="Weighted average exercise price warrants outstanding, beginning balance">1.68</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right"><span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20250501__20260430__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zJbFM1gtu23i" title="Weighted average remaining contractual term">2.14</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Issued</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--WarrantsIssuedShares_d0_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zRPlGnd0aLX3" style="text-align: right" title="Warrants issued">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_d0_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zWD7kpVxAr12" style="text-align: right" title="Weighted average exercise price warrants issued">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">–</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--WarrantExercised_iN_di0_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_z2WDjD8g77ha" style="text-align: right" title="Warrants exercised">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">–</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--WarrantsExpired_iN_di0_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_ze7QyyUyv24" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants expired">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_ecustom--WeightedAverageExercisePriceWarrantsExpired_d0_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_z5GiiIyQtb1f" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, warrants expired">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 1pt">Outstanding, July 31, 2026</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--ClassOfWarrantOrRightOutstanding_iE_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zqY6go5GYEN1" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants outstanding, ending balance">55,819,519</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iE_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zwgYqSSvup3h" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price warrants outstanding, ending balance">1.68</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zMloSX3cPTyg" title="Weighted average remaining contractual term">1.88</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Exercisable, July 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_ecustom--WarrantsExercisable_iI_c20260731__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_z7tN5ASg9ZKe" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants exercisable">55,819,519</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_ecustom--WeightedAverageExercisePriceWarrantsExercisable_iI_c20260731__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zEJlT5iLRFw3" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price warrants exercisable">1.68</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_904_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2_dtY_c20260501__20260731__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_znMNwh4Mfmr4" title="Weighted-average remaining contractual term, exercisable">1.88</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 55819519 1.68 P2Y1M20D 0 0 -0 -0 0 55819519 1.68 P1Y10M17D 55819519 1.68 P1Y10M17D <p id="xdx_803_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_zhbusBsxlF3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 7 – <span id="xdx_829_zOzaLjq9t9h7">OTHER RELATED PARTY TRANSACTIONS</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company had the following related party transactions during the three months ended July 31, 2026 and 2025, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company owns <span id="xdx_909_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20260731__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SGAustraliaMember_zniKRqXnPWl" title="Equity interest">13.8</span>% of the equity in SG Austria which is presented using the measurement alternative allowed under <i>ASC 321 - Investments Equity Securities</i> with no readily determinable fair values. SG Austria has two subsidiaries: (i) Austrianova; and (ii) Austrianova Thailand. The Company purchased products and services from these entities in the approximate amounts of $0 in the three months ended July 31, 2026, and 2025, respectively. The investment in SG Austria was fully impaired as of April 30, 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In April 2014, the Company entered into the Vin-de-Bona Consulting Agreement pursuant to which it agreed to provide professional consulting services to the Company. Vin-de-Bona is owned by Prof. Günzburg and Dr. Salmons, both of whom are involved in numerous aspects of the Company’s scientific endeavors relating to cancer (Prof. Günzburg is the Chairman of Austrianova, and Dr. Salmons is the Chief Executive Officer and President of Austrianova). The term of the agreement is for 12 months and is automatically renewable for successive 12-month terms. After the initial term, either party can terminate the agreement by giving the other party 30 days’ written notice before the effective date of termination. To date, the agreement has been automatically renewed annually. The amounts incurred for the three months ended July 31, 2026 and 2025, were approximately $<span id="xdx_900_eus-gaap--ProfessionalAndContractServicesExpense_pp0p0_c20260501__20260731__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--VinDeBonaMember_zUuQZ44eTZ73" title="Consulting fees"><span id="xdx_903_eus-gaap--ProfessionalAndContractServicesExpense_pp0p0_c20250501__20250731__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--VinDeBonaMember_zqeZx7xeuYJl" title="Consulting fees">0</span></span>, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company’s Chief Executive Officer is on the board of directors of QCLS and serves as their Chief Executive Officer, see Note 4 – Investment in Debt and Equity Securities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> 0.138 0 0 <p id="xdx_804_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zxwotK6te1sd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 8 – <span id="xdx_82E_z2i5gGwpL294">COMMITMENTS AND CONTINGENCIES</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company acquires assets still in development and enters R&amp;D arrangements with third parties that often require milestone and royalty payments to the third-party contingent upon the occurrence of certain future events linked to the success of the asset in development. Milestone payments may be required, contingent upon the successful achievement of an important point in the development lifecycle of the pharmaceutical product (e.g., approval of the product for marketing by a regulatory agency). If required by the license agreements, the Company may have to make royalty payments based upon a percentage of the sales of the pharmaceutical products if regulatory approval for marketing is obtained. For the three months ended July 31, 2026 and 2025, the Company expensed $<span id="xdx_900_eus-gaap--ResearchAndDevelopmentExpense_c20260501__20260731_zeGIZb9HItUk" title="Research and development expenses">60,000</span> and $<span id="xdx_90F_eus-gaap--ResearchAndDevelopmentExpense_c20250501__20250731_zmPj1OzuWHMa" title="Research and development expenses">95,157</span>, respectively, in research and development expenses within the accompanying unaudited condensed consolidated statements of operations. There have been no recognized costs related to royalty payments.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">There are future royalty payments as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Four percent royalty on all gross sales received by us or the Company’s affiliates;</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td> </td> <td><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Twenty percent royalty on gross revenues received by the Company or the Company’s affiliates from a sublicense or right to use the patents or the licenses granted by the Company or the Company’s affiliates; </span></td></tr> <tr style="vertical-align: top"> <td> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: top"> <td> </td> <td><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fifty percent of any other financial and non-financial consideration received from sublicensees of the Cell-in-a-Box® technology; and</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: top"> <td> </td> <td><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The removal of all milestone payments.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Service Agreements</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has entered into several service agreements with independent and related parties pursuant to which services will be provided over a specified period-of-time related to the IND which the FDA has placed on clinical hold. The services include regulatory affairs strategy, advice and follow-up work on the IND and services related to having the clinical hold lifted. The total remaining cost is estimated to be approximately $<span id="xdx_904_eus-gaap--ContractualObligation_iI_c20260731_zeWBBpIPKrGi" title="Contractual obligation">220,000</span>, of which the related party (SG Austria and its subsidiaries) portion will be approximately $<span id="xdx_902_eus-gaap--ContractualObligation_iI_c20260731__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SGAustriaAndSubsidiariesMember_ztNJcioMH5ig" title="Contractual obligation">220,000</span>. These amounts take into account some of the cost associated with the work and preclinical studies required to lift the clinical hold.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Legal Proceedings</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">From time to time, the Company is subject to legal proceedings and claims, either asserted or unasserted, that arise in the ordinary course of business. While the outcome of pending claims cannot be predicted with certainty, the Company does not believe that the outcome of any pending claims will have a material adverse effect on the Company’s financial condition or operating results.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On May 16, 2025, the Company entered into a settlement and release agreement (“Settlement Agreement”) with H.C. Wainwright &amp; Co., LLC relating to a complaint filed on December 4, 2023, alleging a breach of contract. The Settlement Agreement resolved fully all differences, disputes or claims without admitting any liability, fault or wrongdoing on the part of all parties. The Settlement Agreement required the Company to pay $<span id="xdx_90A_eus-gaap--LitigationSettlementAmountAwardedToOtherParty_pn4n6_c20250515__20250516__srt--LitigationCaseAxis__custom--HCWainwrightMember_ziODaS6Yhejj" title="Settlement amount">1.55</span> million, comprised of an initial payment of $<span id="xdx_909_eus-gaap--PaymentsForLegalSettlements_pn4n6_c20250519__20250520__srt--LitigationCaseAxis__custom--HCWainwrightMember_zht2nboSYI99" title="Initial payment">1.25</span> million paid on May 20, 2025, and <span id="xdx_905_eus-gaap--DebtInstrumentFrequencyOfPeriodicPayment_c20250515__20250516__srt--LitigationCaseAxis__custom--HCWainwrightMember_z4eWDgk79Lad" title="Periodic payment">twelve equal payments</span> of $<span id="xdx_907_eus-gaap--DebtInstrumentPeriodicPayment_c20250515__20250516__srt--LitigationCaseAxis__custom--HCWainwrightMember_za6auz1ibrQ4" title="Debt instrument periodic payment">25,000</span> beginning on the one-month anniversary of the initial payment. On May 16, 2025, as part of the settlement, the Company also issued warrants (“First Warrant Issuance”) to purchase <span id="xdx_90A_ecustom--WarrantsIssuedShares_c20250515__20250516__srt--LitigationCaseAxis__custom--HCWainwrightMember__us-gaap--ClassOfWarrantOrRightAxis__custom--FirstWarrantIssuanceMember_zTShwU1jboM8" title="Warrants issued shares">343,183</span> shares of Common Stock with an exercise price of $4.00 per share and a term of five years from the issuance date. On July 29, 2025, as part of the settlement, the Company issued additional warrants (“Additional Warrants”) to purchase <span id="xdx_90F_ecustom--WarrantsIssuedShares_c20250728__20250729__srt--LitigationCaseAxis__custom--HCWainwrightMember__us-gaap--ClassOfWarrantOrRightAxis__custom--AdditionalWarrantsMember_zUgirP4XKjSc" title="Warrants issued shares">313,067</span> shares of Common Stock with an exercise price of $4.00 per share and a term of five years. See Note 6 – Stock Options and Warrants.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On August 19, 2025, pursuant to the warrant terms, the exercise price of the First Warrant Issuance and the Additional Warrants was adjusted to $<span id="xdx_904_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250819__us-gaap--ClassOfWarrantOrRightAxis__custom--FirstWarrantIssuanceMember_z38dd6qUEAtb" title="Warrants issued per share"><span id="xdx_901_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250819__us-gaap--ClassOfWarrantOrRightAxis__custom--AdditionalWarrantsMember_zZ0FM1VjzvEj" title="Warrants issued per share">0.95</span></span> per share. The price adjustment resulted in the number of shares underlying the First Warrant Issuance to increase to <span id="xdx_90B_ecustom--WarrantsIssuedShares_c20250818__20250819__us-gaap--ClassOfWarrantOrRightAxis__custom--FirstWarrantIssuanceMember_zkWNNfCk5iL3" title="Warrants issued shares">1,442,551</span> shares and the number of shares underlying the Additional Warrants to increase to <span id="xdx_906_ecustom--WarrantsIssuedShares_c20250818__20250819__us-gaap--ClassOfWarrantOrRightAxis__custom--AdditionalWarrantsMember_znOfhMTFuHJl" title="Warrants issued shares">1,315,960</span> shares. See Note 6 – Stock Options and Warrants.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of July 31, 2026 and April 30, 2026, the Company had accrued legal settlement of $<span id="xdx_908_eus-gaap--LitigationReserve_iI_c20260731_zxAb1JMataa7">0</span> and $<span id="xdx_903_eus-gaap--LitigationReserve_iI_c20260430_zyZkb44pLNWe">25,000</span>, respectively. As of July 31, 2026, the legal settlement was paid in full.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">To the Company’s knowledge there are no other legal proceedings pending to which any property of the Company is subject.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> 60000 95157 220000 220000 1550000 1250000 twelve equal payments 25000 343183 313067 0.95 0.95 1442551 1315960 0 25000 <p id="xdx_80B_eus-gaap--EarningsPerShareTextBlock_zgpGQDG4ii2d" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 9 – <span id="xdx_82E_zIpLIHg41OOa">EARNINGS PER SHARE</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company computes basic earnings per share using the two-class method. The two-class method of computing earnings per share is an earnings allocation formula that determines earnings per share for common stock and any participating securities according to dividends declared (whether paid or unpaid) and participation rights in undistributed earnings. The Series C Preferred Shares are considered participating securities as preferred shareholders are entitled to participate with common stockholders on an as-converted basis in any distributions of assets by the Company under the terms of their respective Certificates of Designations. Diluted earnings per share for the three months ended July 31, 2026 was computed using the two-class method. Under the two-class method, there is no change in the weighted average shares outstanding used between the basic and diluted earnings per share calculations as the Series C Preferred Shares represent the only dilutive share equivalents during the three months ended July 31, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended July 31, 2026 and 2025 the Company incurred losses attributable to common shareholders. Accordingly, the effects of any common stock equivalent would be anti-dilutive during the period and thus are not included in the calculation of diluted weighted average number of shares outstanding.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table illustrates the computation of basic and diluted loss per share:</p> <table cellpadding="0" cellspacing="0" id="xdx_895_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zNaf9sVHuAga" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - EARNINGS PER SHARE (Details - Earnings (loss) per share)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B7_zEPL0eFfDcq1" style="display: none">Schedule of basic and diluted earnings (loss) per share</span></td><td> </td> <td colspan="2" id="xdx_49F_20260501__20260731_zXUgxSyPrV3l" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_495_20250501__20250731_zeXYd1FmPXe4" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended July 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">Loss per share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--NetIncomeLoss_zj3XpJ3Kr3Zd" style="vertical-align: bottom; background-color: White"> <td style="width: 66%; text-align: justify">Net loss</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 13%; text-align: right">(5,081,191</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 13%; text-align: right">(8,360,096</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--PreferredStockAccretionOfRedemptionDiscount_iN_pp0p0_di0_zYC986oMJVQe" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt; text-align: justify">Less: Accretion of discounts to redemption of convertible preferred stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(621,217</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">–</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DividendsPreferredStock_iN_pp0p0_di0_zD2KVQTh8gVe" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 1pt">Less: Convertible preferred stock dividends</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(83,399</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic_zgHUPujXhiVf" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 2.5pt">Undistributed loss available to common stockholders</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(5,785,807</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(8,360,096</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Weighted average shares outstanding used in basic earnings per share</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20260501__20260731_zj1PJRQk2CF2" title="Weighted average shares outstanding used in basic earnings per share">10,735,649</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_904_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250501__20250731_zQ1ZJYhFuKMd" title="Weighted average shares outstanding used in basic earnings per share">6,795,779</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net loss per share basic and diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90A_eus-gaap--EarningsPerShareBasic_c20260501__20260731_zg75ja0GRXr2" title="Net income (loss) per share basic"><span id="xdx_90D_eus-gaap--EarningsPerShareDiluted_c20260501__20260731_zoYLiagTgpjg" title="Net income (loss) per share diluted">(0.54</span></span></td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_901_eus-gaap--EarningsPerShareBasic_c20250501__20250731_zCEsHvWOfED1" title="Net income (loss) per share basic"><span id="xdx_909_eus-gaap--EarningsPerShareDiluted_c20250501__20250731_z6KsEncExJVc" title="Net income (loss) per share diluted">(1.23</span></span></td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <p id="xdx_8AF_zQzW3aX6laRf" style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The table below sets forth the potentially dilutive securities excluded from the computation of diluted weighted average shares outstanding as they would be anti-dilutive:</p> <table cellpadding="0" cellspacing="0" id="xdx_89C_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zQvNKuNDgtp" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - EARNINGS PER SHARE (Details - Diluted shares)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8BD_zRTYZ0pXSey3" style="display: none">Schedule of potentially dilutive securities</span></td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended <br/> July 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: justify">Excluded options</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right"><span id="xdx_90D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20260501__20260731__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--OptionsMember_zVFEXrWMPNSd" title="Antidilutive shares">1,160,294</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right"><span id="xdx_90D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250501__20250731__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--OptionsMember_zAT6BFdPvQtg" title="Antidilutive shares">1,169,628</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Excluded preferred shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20260501__20260731__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PreferredSharesMember_ztMlFwG3w9i4" title="Antidilutive shares">5,008,061</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_d0_c20250501__20250731__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PreferredSharesMember_zqQ1s0JKAZgf" title="Antidilutive shares">–</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 1pt">Excluded warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20260501__20260731__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zf6d3TQScArc" title="Antidilutive shares">55,819,519</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_908_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250501__20250731__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zS0RSejURIil" title="Antidilutive shares">19,227,097</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Total excluded options, preferred shares and warrants</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_906_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20260501__20260731_zJFzx1rG6aH2" title="Antidilutive shares">61,987,874</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_900_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250501__20250731_z8eXbyPrOvAe" title="Antidilutive shares">20,396,725</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AE_zw3BDS2PqSyf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Diluted earnings per share were calculated under both the if-converted and the two-class methods to determine the most dilutive amount for the common stock. The Company applied the treasury stock two-class method which assumes the securities remain in their current non-exercised or converted form and therefore, deemed anti-dilutive.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" id="xdx_895_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zNaf9sVHuAga" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - EARNINGS PER SHARE (Details - Earnings (loss) per share)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B7_zEPL0eFfDcq1" style="display: none">Schedule of basic and diluted earnings (loss) per share</span></td><td> </td> <td colspan="2" id="xdx_49F_20260501__20260731_zXUgxSyPrV3l" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_495_20250501__20250731_zeXYd1FmPXe4" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended July 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">Loss per share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--NetIncomeLoss_zj3XpJ3Kr3Zd" style="vertical-align: bottom; background-color: White"> <td style="width: 66%; text-align: justify">Net loss</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 13%; text-align: right">(5,081,191</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 13%; text-align: right">(8,360,096</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--PreferredStockAccretionOfRedemptionDiscount_iN_pp0p0_di0_zYC986oMJVQe" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt; text-align: justify">Less: Accretion of discounts to redemption of convertible preferred stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(621,217</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">–</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DividendsPreferredStock_iN_pp0p0_di0_zD2KVQTh8gVe" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 1pt">Less: Convertible preferred stock dividends</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(83,399</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic_zgHUPujXhiVf" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 2.5pt">Undistributed loss available to common stockholders</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(5,785,807</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(8,360,096</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Weighted average shares outstanding used in basic earnings per share</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20260501__20260731_zj1PJRQk2CF2" title="Weighted average shares outstanding used in basic earnings per share">10,735,649</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_904_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250501__20250731_zQ1ZJYhFuKMd" title="Weighted average shares outstanding used in basic earnings per share">6,795,779</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net loss per share basic and diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90A_eus-gaap--EarningsPerShareBasic_c20260501__20260731_zg75ja0GRXr2" title="Net income (loss) per share basic"><span id="xdx_90D_eus-gaap--EarningsPerShareDiluted_c20260501__20260731_zoYLiagTgpjg" title="Net income (loss) per share diluted">(0.54</span></span></td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_901_eus-gaap--EarningsPerShareBasic_c20250501__20250731_zCEsHvWOfED1" title="Net income (loss) per share basic"><span id="xdx_909_eus-gaap--EarningsPerShareDiluted_c20250501__20250731_z6KsEncExJVc" title="Net income (loss) per share diluted">(1.23</span></span></td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> -5081191 -8360096 621217 -0 83399 -0 -5785807 -8360096 10735649 6795779 -0.54 -0.54 -1.23 -1.23 <table cellpadding="0" cellspacing="0" id="xdx_89C_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zQvNKuNDgtp" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - EARNINGS PER SHARE (Details - Diluted shares)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8BD_zRTYZ0pXSey3" style="display: none">Schedule of potentially dilutive securities</span></td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended <br/> July 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: justify">Excluded options</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right"><span id="xdx_90D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20260501__20260731__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--OptionsMember_zVFEXrWMPNSd" title="Antidilutive shares">1,160,294</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right"><span id="xdx_90D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250501__20250731__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--OptionsMember_zAT6BFdPvQtg" title="Antidilutive shares">1,169,628</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Excluded preferred shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20260501__20260731__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PreferredSharesMember_ztMlFwG3w9i4" title="Antidilutive shares">5,008,061</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_d0_c20250501__20250731__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PreferredSharesMember_zqQ1s0JKAZgf" title="Antidilutive shares">–</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 1pt">Excluded warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20260501__20260731__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zf6d3TQScArc" title="Antidilutive shares">55,819,519</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_908_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250501__20250731__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zS0RSejURIil" title="Antidilutive shares">19,227,097</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Total excluded options, preferred shares and warrants</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_906_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20260501__20260731_zJFzx1rG6aH2" title="Antidilutive shares">61,987,874</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_900_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250501__20250731_z8eXbyPrOvAe" title="Antidilutive shares">20,396,725</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 1160294 1169628 5008061 0 55819519 19227097 61987874 20396725 <p id="xdx_800_eus-gaap--PreferredStockTextBlock_ztEyyNuJCgD9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 10 – <span id="xdx_821_z9BxwdEtzE1h">PREFERRED STOCK</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Series C Private Placement</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>  </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Series C Preferred Stock</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The terms of the Series C Preferred Stock are as set forth in the form of Certificate of Designations (the “Series C Certificate of Designations”). The Series C Preferred Stock are convertible into shares of Common Stock (the “Conversion Shares”) at the election of the holder at any time at an initial conversion price of $<span id="xdx_90A_eus-gaap--PreferredStockConvertibleConversionPrice_iI_c20260731_zWjTqFwIAFA6" title="Conversion price">1.00</span> (the “Conversion Price”). The Conversion Price is subject to customary adjustments for stock dividends, stock splits, reclassifications and the like, and subject to price-based adjustment in the event of any issuances of Common Stock, or securities convertible, exercisable or exchangeable for Common Stock, at a price below the then-applicable Conversion Price (subject to certain exceptions). The conversion price was reduced to $0.95 after issuance pursuant to the full ratchet anti-dilution provisions contained in the Certificate of Designations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The holders of the Series C Preferred Stock will be entitled to dividends of 7% per annum, compounded quarterly, which will be payable in cash. Upon the occurrence and during the continuance of a Triggering Event (as defined in the Series C Certificate of Designations), the Series C Preferred Stock will accrue dividends at the rate of 15% per annum. The holders of Series C Preferred Stock are entitled to vote with holders of the Common Stock as a single class on all matters that holders of Common Stock are entitled to vote upon, with the number of votes per Series C Preferred Share equal to the stated value of such Series C Preferred Share divided by the then applicable Conversion Price; provided, however that in no event shall the then applicable Conversion Price be less than the “Minimum Price” (as defined in Nasdaq Listing Rule 5635) on the date immediately prior to the date of the Purchase Agreement. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In October 2025, the Company held a special meeting of stockholders (the “2025 Special Meeting”). At the 2025 Special Meeting, the stockholders of the Company approved, for purposes of complying with Nasdaq Listing Rule 5635(d), (the “Exchange Cap”) the issuance of shares of Common Stock underlying the Series C Preferred Stock and Series C Warrants, which allows the Company to settle all Series C Preferred Stock conversions into shares of Common Stock. The Series C Certificate of Designations contains a certain beneficial ownership limitation after giving effect to the issuance of shares of Common Stock issuable upon conversion of the Series C Preferred Stock or Series C Warrants.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company obtained stockholder approval to remove the Exchange Cap on October 30, 2025, upon which event the conversion floor price was adjusted to $0.19.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Series C Certificate of Designations includes certain Triggering Events (as defined in the Series C Certificate of Designations), including, among other things, the Company’s failure to pay any amounts due to the holders of the Series C Preferred Stock when due. In connection with a Triggering Event, each holder of Series C Preferred Stock will be able to require the Company to redeem in cash any or all of the holder’s Series C Preferred Stock at a premium set forth in the Series C Certificate of Designations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Series C Preferred Stock was determined to be more akin to a debt-like host than an equity-like host. The Company identified certain embedded features that were deemed not to be clearly and closely related to the debt host instrument and were therefore bifurcated as a derivative under ASC 815. These features were bundled together, assigned probabilities of being affected and measured at fair value. Subsequent changes in fair value of these features are recognized in the condensed consolidated statement of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of July 31, 2026, the Company is accreting the discount using the effective interest method and $<span id="xdx_90E_ecustom--DeemedDividend_pp0p0_c20260501__20260731_zcbAn4uVvlz2">621,217</span> was recorded as a deemed dividend during the three months ended July 31, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended July 31, 2026, the Company recorded a gain of $<span id="xdx_90A_ecustom--ChangeInFairValueDerivativeLiability_pp0p0_c20260501__20260731_zJfTzYz1ww17" title="Change in fair value derivative liability">597,000</span> related to the change in fair value of the derivative liability which is recorded in other income (expense) on the condensed consolidated statements of operations. The Company estimated the $<span id="xdx_906_ecustom--WarrantLiabilityFairValue_pp0p0_c20260501__20260731__us-gaap--FinancialInstrumentAxis__custom--DerivativeLiabilityMember_zdIqEwgKCsC4" title="Fair value of warrant">281,000</span> fair value of the bifurcated embedded derivative at July 31, 2026 using a probability-weighted scenario model, with the following inputs: the fair value of the Company’s common stock of $<span id="xdx_904_eus-gaap--DerivativeAssetLiabilityNetMeasurementInput_iI_pip0_uUSDPShares_c20260731__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExercisePriceMember__us-gaap--FinancialInstrumentAxis__custom--DerivativeLiabilityMember_zSh3YHsgobN6" title="Derivative, measurement input">0.58</span> on the measurement date, estimated equity volatility of <span id="xdx_90D_eus-gaap--DerivativeAssetLiabilityNetMeasurementInput_iI_pip0_dp_uPure_c20260731__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__us-gaap--FinancialInstrumentAxis__custom--DerivativeLiabilityMember_z1vzrUKZFapf" title="Derivative, measurement input">78.0</span>%, the time to maturity of <span id="xdx_909_eus-gaap--DerivativeAssetLiabilityNetMeasurementInput_iI_pip0_uYear_c20260731__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--FinancialInstrumentAxis__custom--DerivativeLiabilityMember_zgBOeKXaO1cj" title="Derivative, measurement input">0.56</span> years, the maturity redemption premium of <span id="xdx_902_eus-gaap--DerivativeAssetLiabilityNetMeasurementInput_iI_pip0_dp_uPure_c20260731__us-gaap--MeasurementInputTypeAxis__custom--MeasurementInputRedemptionPremiumMember__us-gaap--FinancialInstrumentAxis__custom--DerivativeLiabilityMember_ziNlZJZBprta" title="Derivative, measurement input">106</span>%, the liquidation premium of 125% a market interest rate of <span id="xdx_90B_eus-gaap--DerivativeAssetLiabilityNetMeasurementInput_iI_pip0_dp_uPure_c20260731__us-gaap--MeasurementInputTypeAxis__custom--MeasurementInputMarketInterestRateMember__us-gaap--FinancialInstrumentAxis__custom--DerivativeLiabilityMember_z21Y95fO83Bc" title="Derivative, measurement input">31.19</span>%, a risk-free rate of <span id="xdx_90A_eus-gaap--DerivativeAssetLiabilityNetMeasurementInput_iI_pip0_dp_uPure_c20260731__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__us-gaap--FinancialInstrumentAxis__custom--DerivativeLiabilityMember_zNoORgYSZEU9" title="Derivative, measurement input">3.91</span>%, and dividend rate of <span id="xdx_905_eus-gaap--DerivativeAssetLiabilityNetMeasurementInput_iI_pip0_dp_uPure_c20260731__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember__us-gaap--FinancialInstrumentAxis__custom--DerivativeLiabilityMember_zWCX1texmo35" title="Derivative, measurement input">7.00</span>%. The fair value of the bifurcated derivative liability was estimated utilizing the with and without method which uses the probability weighted difference between the scenarios with the derivative and the plain vanilla scenarios without a derivative.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended July 31, 2026, the Company recognized a total of $<span id="xdx_908_eus-gaap--DividendsPreferredStockStock_c20260501__20260731_z6ZWHiG2sN2l" title="Preferred dividends">83,399</span> of preferred dividends at the stated dividend rate, of which $<span id="xdx_90C_eus-gaap--DividendsPreferredStockCash_c20260501__20260731_z3EkbGlo79N1" title="Dividend paid in cash">50,908</span> were paid in cash and $<span id="xdx_908_eus-gaap--DividendsPreferredStockPaidinkind_c20260501__20260731_zNgekzK24Rq7" title="Dividend accrued">32,491</span> are accrued in accrued Series C dividends on the condensed consolidated balance sheet as of July 31, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> 1.00 621217 597000 281000 0.58 0.780 0.56 1.06 0.3119 0.0391 0.0700 83399 50908 32491 <p id="xdx_807_eus-gaap--FairValueDisclosuresTextBlock_z4DXuRtNCbYe" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 11 – <span id="xdx_82C_zy2wOhdmDEo9">FAIR VALUE MEASUREMENTS</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Fair value measurements discussed herein are based upon certain market assumptions and pertinent information available to management as of and during the three months ended July 31, 2026. The carrying amounts of cash equivalents, other current assets, accounts payable and accrued expenses approximate their face values at July 31, 2026 due to their short-term nature. The fair value of the bifurcated embedded derivative related to the convertible preferred stock was estimated using a probability-weighted scenario model, which uses as inputs the fair value of the Company’s common stock and estimates for the equity volatility and of the Company’s common stock, the time to maturity of the convertible preferred stock, the risk-free interest rate for a period of time that approximates the time to maturity, the maturity redemption premium rate, the liquidation premium rate, the market discount rate, and the dividend rate. The fair value of the warrant liability was estimated using the Black Scholes Merton Model which uses as inputs the following weighted average assumptions, as noted above: dividend yield, expected terms in years, equity volatility and risk-free rate.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>Fair Value on a Recurring Basis</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company follows the guidance in ASC 820 for its financial assets and liabilities that are re-measured and reported at fair value at each reporting period, and non-financial assets and liabilities that are re-measured and reported at fair value at least annually. The estimated fair value of the warrant liability and bifurcated embedded derivative represent Level 3 measurements. The following table presents information about the Company’s liabilities that are measured at fair value on a recurring basis at July 31, 2026 and April 30, 2026, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:</p> <table cellpadding="0" cellspacing="0" id="xdx_89B_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_zbWNtUVVYHBh" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - FAIR VALUE MEASUREMENTS (Details - Fair value)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B5_zGwVVD6alMac" style="display: none">Schedule of fair value of financial liabilities</span></td><td> </td> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: justify">Description</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Level</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">July 31, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">April 30, 2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">Liabilities:</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 49%; text-align: justify">Warrant liabilities</td><td style="width: 2%"> </td> <td style="width: 15%; text-align: center">3</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--FinancialLiabilitiesFairValueDisclosure_iI_pp0p0_c20260731__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--WarrantLiabilitiesMember_zSGSoBrxlg2e" style="width: 13%; text-align: right" title="Warrant liabilities">5,847,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--FinancialLiabilitiesFairValueDisclosure_iI_pp0p0_c20260430__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--WarrantLiabilitiesMember_z2x4m1LT4oDa" style="width: 13%; text-align: right" title="Warrant liabilities">10,068,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">Bifurcated embedded derivative</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--FinancialLiabilitiesFairValueDisclosure_iI_pp0p0_c20260731__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--BifurcatedEmbeddedDerivativeMember_zsjTaDTVPKkl" style="text-align: right" title="Fair value of financial liability">281,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--FinancialLiabilitiesFairValueDisclosure_iI_pp0p0_c20260430__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--BifurcatedEmbeddedDerivativeMember_zfi8qiOxnMP7" style="text-align: right" title="Fair value of financial liability">878,000</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A1_zjHv5C7aHS8j" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table sets forth a summary of the change in the fair value of the warrant liability that is measured at fair value on a recurring basis:</p> <table cellpadding="0" cellspacing="0" id="xdx_89E_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock_ztRfTl9Nofx1" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - FAIR VALUE MEASUREMENTS (Details - Changes in fair value of warrant liability)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8BC_zKiKMlJDjWl2" style="display: none">Schedule of change in the fair value warrant liability</span></td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Three Months Ended July 31, 2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 83%">Balance on April 30, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--FinancialLiabilitiesFairValueDisclosure_iS_pp0p0_c20260501__20260731__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--WarrantLiabilityMember_zLAAbEttKce8" style="width: 13%; text-align: right" title="Fair value of the warrant liability at beginning">10,068,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value of warrant liability</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_ecustom--ChangeInFairValueOfWarrantLiability_pp0p0_c20260501__20260731__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--WarrantLiabilityMember_zgBkCBlrqzf1" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value of warrant liability">(4,221,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Balance on July 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--FinancialLiabilitiesFairValueDisclosure_iE_pp0p0_c20260501__20260731__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--WarrantLiabilityMember_zeZ6gf0rPR5i" style="border-bottom: Black 2.5pt double; text-align: right" title="Fair value of the warrant liability at ending">5,847,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AB_zlS2CNy8TBhi" style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table sets forth a summary of the change in the fair value of the derivative liability that is measured at fair value on a recurring basis:</p> <table cellpadding="0" cellspacing="0" id="xdx_896_eus-gaap--ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_ztAhPZJ0qze3" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - FAIR VALUE MEASUREMENTS (Details - Changes in fair value of derivative liability)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B4_zcMdzWbeg423" style="display: none">Schedule of change in the fair value derivative liability</span></td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Three Months Ended July 31, 2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 83%">Balance on April 30, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_iS_pp0p0_c20260501__20260731__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zcjZHBqt4BC6" style="width: 13%; text-align: right" title="Fair value of derivative liability at beginning">878,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value of derivative liability</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet_pp0p0_c20260501__20260731__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zj7nYJPFNnfj" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value of derivative liability">(597,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Balance on July 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_iE_pp0p0_c20260501__20260731__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_z64dDqY874Ce" style="border-bottom: Black 2.5pt double; text-align: right" title="Fair value of derivative liability at ending">281,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A5_zRxypt83rr0a" style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">The fair values of financial instruments by class as of July 31, 2026 and April 30, 2026 are as follows:</p> <table cellpadding="0" cellspacing="0" id="xdx_891_eus-gaap--FairValueAssetsMeasuredOnRecurringBasisTextBlock_zgrZHLcvv4nb" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - FAIR VALUE MEASUREMENTS (Details - Fair values of financial instruments)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B1_zH72kna4sPUi" style="display: none">Schedule of fair values of financial instruments by class</span></td><td> </td> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Level</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">July 31, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">April 30, 2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: justify">Financial Assets</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 49%; text-align: left">Marketable equity securities</td><td style="width: 2%"> </td> <td style="width: 15%; text-align: center">1</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--FinancialInstrumentsOwnedAtFairValue_iI_pp0p0_c20260731__us-gaap--FinancialInstrumentAxis__custom--MarketableEquitySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zl6uDWaGSvy9" style="width: 13%; text-align: right" title="Fair value of financial assets">99,462</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--FinancialInstrumentsOwnedAtFairValue_pp0p0_c20260430__us-gaap--FinancialInstrumentAxis__custom--MarketableEquitySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zywVzrukCEn5" style="width: 13%; text-align: right" title="Fair value of financial assets">254,010</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Money market account</td><td> </td> <td style="text-align: center">1</td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--FinancialInstrumentsOwnedAtFairValue_iI_pp0p0_c20260731__us-gaap--FinancialInstrumentAxis__custom--MoneyMarketAccountMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zCmHawIR8oG1" style="text-align: right" title="Fair value of financial assets">1,616,840</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--FinancialInstrumentsOwnedAtFairValue_iI_pp0p0_c20260430__us-gaap--FinancialInstrumentAxis__custom--MoneyMarketAccountMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zXvY3nHz1Ktc" style="text-align: right" title="Fair value of financial assets">2,100,703</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrant asset - Femasys</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--FinancialInstrumentsOwnedAtFairValue_iI_pp0p0_c20260731__us-gaap--FinancialInstrumentAxis__custom--WarrantAssetFemasysMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zq5vxsE1ubw5" style="text-align: right" title="Fair value of financial assets">66,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--FinancialInstrumentsOwnedAtFairValue_pp0p0_c20260430__us-gaap--FinancialInstrumentAxis__custom--WarrantAssetFemasysMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zABWkeJiWJ95" style="text-align: right" title="Fair value of financial assets">480,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Investment in preferred stock - QCLS</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--FinancialInstrumentsOwnedAtFairValue_iI_pp0p0_c20260731__us-gaap--FinancialInstrumentAxis__custom--InvestmentInPreferredStockQCLSMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zomQ53hlUzv3" style="text-align: right" title="Fair value of financial assets">12,675,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--FinancialInstrumentsOwnedAtFairValue_pp0p0_c20260430__us-gaap--FinancialInstrumentAxis__custom--InvestmentInPreferredStockQCLSMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zj6f1Paf6dz" style="text-align: right" title="Fair value of financial assets">18,225,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrant assets - QCLS</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--FinancialInstrumentsOwnedAtFairValue_iI_pp0p0_c20260731__us-gaap--FinancialInstrumentAxis__custom--WarrantAssetQCLSMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zoWAFKTRDo9b" style="text-align: right" title="Fair value of financial assets">5,664,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--FinancialInstrumentsOwnedAtFairValue_pp0p0_c20260430__us-gaap--FinancialInstrumentAxis__custom--WarrantAssetQCLSMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zULtRv671pQj" style="text-align: right" title="Fair value of financial assets">8,845,000</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A5_zoRUKlG0QKDl" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Assumptions used in the valuation of the Level 3 assets include time to expiration, discount rate, risk-free rate, volatility and probability of default.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" id="xdx_89B_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_zbWNtUVVYHBh" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - FAIR VALUE MEASUREMENTS (Details - Fair value)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B5_zGwVVD6alMac" style="display: none">Schedule of fair value of financial liabilities</span></td><td> </td> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: justify">Description</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Level</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">July 31, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">April 30, 2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">Liabilities:</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 49%; text-align: justify">Warrant liabilities</td><td style="width: 2%"> </td> <td style="width: 15%; text-align: center">3</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--FinancialLiabilitiesFairValueDisclosure_iI_pp0p0_c20260731__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--WarrantLiabilitiesMember_zSGSoBrxlg2e" style="width: 13%; text-align: right" title="Warrant liabilities">5,847,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--FinancialLiabilitiesFairValueDisclosure_iI_pp0p0_c20260430__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--WarrantLiabilitiesMember_z2x4m1LT4oDa" style="width: 13%; text-align: right" title="Warrant liabilities">10,068,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">Bifurcated embedded derivative</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--FinancialLiabilitiesFairValueDisclosure_iI_pp0p0_c20260731__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--BifurcatedEmbeddedDerivativeMember_zsjTaDTVPKkl" style="text-align: right" title="Fair value of financial liability">281,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--FinancialLiabilitiesFairValueDisclosure_iI_pp0p0_c20260430__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--BifurcatedEmbeddedDerivativeMember_zfi8qiOxnMP7" style="text-align: right" title="Fair value of financial liability">878,000</td><td style="text-align: left"> </td></tr> </table> 5847000 10068000 281000 878000 <table cellpadding="0" cellspacing="0" id="xdx_89E_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock_ztRfTl9Nofx1" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - FAIR VALUE MEASUREMENTS (Details - Changes in fair value of warrant liability)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8BC_zKiKMlJDjWl2" style="display: none">Schedule of change in the fair value warrant liability</span></td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Three Months Ended July 31, 2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 83%">Balance on April 30, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--FinancialLiabilitiesFairValueDisclosure_iS_pp0p0_c20260501__20260731__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--WarrantLiabilityMember_zLAAbEttKce8" style="width: 13%; text-align: right" title="Fair value of the warrant liability at beginning">10,068,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value of warrant liability</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_ecustom--ChangeInFairValueOfWarrantLiability_pp0p0_c20260501__20260731__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--WarrantLiabilityMember_zgBkCBlrqzf1" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value of warrant liability">(4,221,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Balance on July 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--FinancialLiabilitiesFairValueDisclosure_iE_pp0p0_c20260501__20260731__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--WarrantLiabilityMember_zeZ6gf0rPR5i" style="border-bottom: Black 2.5pt double; text-align: right" title="Fair value of the warrant liability at ending">5,847,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 10068000 -4221000 5847000 <table cellpadding="0" cellspacing="0" id="xdx_896_eus-gaap--ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_ztAhPZJ0qze3" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - FAIR VALUE MEASUREMENTS (Details - Changes in fair value of derivative liability)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B4_zcMdzWbeg423" style="display: none">Schedule of change in the fair value derivative liability</span></td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Three Months Ended July 31, 2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 83%">Balance on April 30, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_iS_pp0p0_c20260501__20260731__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zcjZHBqt4BC6" style="width: 13%; text-align: right" title="Fair value of derivative liability at beginning">878,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value of derivative liability</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet_pp0p0_c20260501__20260731__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zj7nYJPFNnfj" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value of derivative liability">(597,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Balance on July 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_iE_pp0p0_c20260501__20260731__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_z64dDqY874Ce" style="border-bottom: Black 2.5pt double; text-align: right" title="Fair value of derivative liability at ending">281,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 878000 -597000 281000 <table cellpadding="0" cellspacing="0" id="xdx_891_eus-gaap--FairValueAssetsMeasuredOnRecurringBasisTextBlock_zgrZHLcvv4nb" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - FAIR VALUE MEASUREMENTS (Details - Fair values of financial instruments)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B1_zH72kna4sPUi" style="display: none">Schedule of fair values of financial instruments by class</span></td><td> </td> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Level</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">July 31, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">April 30, 2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: justify">Financial Assets</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 49%; text-align: left">Marketable equity securities</td><td style="width: 2%"> </td> <td style="width: 15%; text-align: center">1</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--FinancialInstrumentsOwnedAtFairValue_iI_pp0p0_c20260731__us-gaap--FinancialInstrumentAxis__custom--MarketableEquitySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zl6uDWaGSvy9" style="width: 13%; text-align: right" title="Fair value of financial assets">99,462</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--FinancialInstrumentsOwnedAtFairValue_pp0p0_c20260430__us-gaap--FinancialInstrumentAxis__custom--MarketableEquitySecuritiesMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zywVzrukCEn5" style="width: 13%; text-align: right" title="Fair value of financial assets">254,010</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Money market account</td><td> </td> <td style="text-align: center">1</td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--FinancialInstrumentsOwnedAtFairValue_iI_pp0p0_c20260731__us-gaap--FinancialInstrumentAxis__custom--MoneyMarketAccountMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zCmHawIR8oG1" style="text-align: right" title="Fair value of financial assets">1,616,840</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--FinancialInstrumentsOwnedAtFairValue_iI_pp0p0_c20260430__us-gaap--FinancialInstrumentAxis__custom--MoneyMarketAccountMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zXvY3nHz1Ktc" style="text-align: right" title="Fair value of financial assets">2,100,703</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrant asset - Femasys</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--FinancialInstrumentsOwnedAtFairValue_iI_pp0p0_c20260731__us-gaap--FinancialInstrumentAxis__custom--WarrantAssetFemasysMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zq5vxsE1ubw5" style="text-align: right" title="Fair value of financial assets">66,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--FinancialInstrumentsOwnedAtFairValue_pp0p0_c20260430__us-gaap--FinancialInstrumentAxis__custom--WarrantAssetFemasysMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zABWkeJiWJ95" style="text-align: right" title="Fair value of financial assets">480,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Investment in preferred stock - QCLS</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--FinancialInstrumentsOwnedAtFairValue_iI_pp0p0_c20260731__us-gaap--FinancialInstrumentAxis__custom--InvestmentInPreferredStockQCLSMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zomQ53hlUzv3" style="text-align: right" title="Fair value of financial assets">12,675,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--FinancialInstrumentsOwnedAtFairValue_pp0p0_c20260430__us-gaap--FinancialInstrumentAxis__custom--InvestmentInPreferredStockQCLSMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zj6f1Paf6dz" style="text-align: right" title="Fair value of financial assets">18,225,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrant assets - QCLS</td><td> </td> <td style="text-align: center">3</td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--FinancialInstrumentsOwnedAtFairValue_iI_pp0p0_c20260731__us-gaap--FinancialInstrumentAxis__custom--WarrantAssetQCLSMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zoWAFKTRDo9b" style="text-align: right" title="Fair value of financial assets">5,664,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--FinancialInstrumentsOwnedAtFairValue_pp0p0_c20260430__us-gaap--FinancialInstrumentAxis__custom--WarrantAssetQCLSMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zULtRv671pQj" style="text-align: right" title="Fair value of financial assets">8,845,000</td><td style="text-align: left"> </td></tr> </table> 99462 254010 1616840 2100703 66000 480000 12675000 18225000 5664000 8845000 false false false false