Note 9 - Subsequent Events |
3 Months Ended |
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Jul. 31, 2026 | |
| Notes to Financial Statements | |
| Subsequent Events [Text Block] |
Note 9. Subsequent Events
Management has evaluated subsequent events after the balance sheet date of July 31, 2026, through the date of filing.
Subsequent to July 31, 2026, the Company issued and sold 397,762 shares under the ATM Facility for net proceeds of approximately $1.2 million.
On August 12, 2026, the Company entered into a subscription agreement with Seller, pursuant to which the Company issued 411,522 shares of Common Stock at a purchase price of $2.43 per share for gross proceeds of approximately $1.0 million. The proceeds will be used for operating expenses in the period leading up to the expected Merger closing. The shares issued in the private placement offering represent ordinary shares of Common Stock without any additional rights or preferences, however, such shares are not subject to the Exchange Ratio (as defined in the Merger Agreement) contemplated by the Proposed Transaction.
On August 19, 2026, the Company entered into an agreement with Streeterville, pursuant to which Streeterville exchanged $200,000 in aggregate principal under the $3.6M Streeterville Note for 95,602 shares of the Company's Common Stock. The issuance of the shares was made pursuant to the exemption from the registration requirements afforded by Section 3(a)(9) of the Securities Act.
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