CONCENTRATIONS OF RISK |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
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Apr. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||
| Risks and Uncertainties [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||
| CONCENTRATIONS OF RISK | Note 3: CONCENTRATIONS OF RISK
Concentration of customer risk
The Company’s three largest customers (together with their respective affiliates) accounted for approximately 44%, 26%, and 30% of total accounts receivable as of April 30, 2025, respectively, and approximately 44%, 17% and 16% of total accounts receivable as of April 30, 2026, respectively. The Company’s largest customer (together with its affiliate) accounted for 44% and 44% of total receivables for the years ended April 30, 2025 and 2026, respectively.
The following table sets forth a summary of single customers who represent 10% or more of the Company’s total accounts receivable:
Concentration of credit risk
The Company is exposed to credit risk primarily through its cash and cash equivalents, accounts receivable, and revenue concentration. As of April 30, 2026 and 2025, the Company held cash and cash equivalents of $12,780,208 and $54,744, substantially all of which were maintained with major financial institutions that management believes to have high credit quality.
Accounts receivable totaled $17,997,211 and $15,388,701 as of April 30, 2026 and April 30, 2025 respectively, and are derived from customer transactions. The Company’s revenue was concentrated among several major customers. For the year ended April 30, 2026, three customers each accounted for more than 10% of total revenue, representing approximately 30%, 15%, and 14% of total revenue, respectively. For the year ended April 30, 2025, three customers accounted for approximately 42%, 33%, and 25% of total revenue, respectively.
The Company monitors the creditworthiness of these customers on an ongoing basis and establishes allowances for expected credit losses when necessary.
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