Note 11: INTANGIBLE ASSETS, NET

The Company’s intangible assets consisted of the following:

   SCHEDULE OF INTANGIBLE ASSETS

Intangible Assets

The Company’s finite-lived intangible assets consist of development costs and customer relationships. These intangible assets are amortized on a straight-line basis over their estimated useful lives of five years. The Company reviews finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.

During the year ended April 30, 2026, the Company recognized an impairment loss of approximately $7,532,712 related to its intangible assets. This loss was included in “Impairment of intangible assets” in the consolidated statements of operations and comprehensive income/(loss).

Acquired Intangible Assets

On January 30, 2026, in connection with the acquisition of Aberfeldy, the Company recognized acquired intangible assets consisting of a $54,792,136 fair value adjustment related to development costs and $41,990,714 related to customer relationships.

These acquired intangible assets are finite-lived and are amortized on a straight-line basis over an estimated useful life of five years. Amortization expense related to these acquired intangible assets was approximately $5,507,352 for the period from the acquisition date through April 30, 2026.

As of April 30, 2026, the net carrying amount of these acquired intangible assets was $91,275,497.

See Note 14, Business Combinations for additional information regarding the acquisition and the allocation of the purchase consideration.

    SCHEDULE OF BUSINESS COMBINATION FOR ADDITIONAL INFORMATION