v3.26.3
CONCENTRATIONS OF RISK
 3 Months Ended
Jul. 31, 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 31%, 28%, and 10% of total accounts receivable as of July 31, 2026, 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 31% and 44% of total receivables for as of July 31 and April 30, 2026, respectively.

 

The following table sets forth a summary of single customers who represent 10% or more of the Company’s total accounts receivable:

 SCHEDULE OF CONCENTRATIONS OF CREDIT RISK  

   As of
July 31, 2026		   As of
April 30, 2026		 
Customer A   31%   16%
Customer B   

28

%   44%
Customer C   10%   3%
Customer D   -%   17%
Customer E   -%   14%

 

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 July 31 and April 30, 2026, the Company held cash and cash equivalents of $11,085,200 and $12,780,208, substantially all of which were maintained with major financial institutions that management believes to have high credit quality.

 

Accounts receivable totaled $8,833,379 and $17,997,211 as of July 31 and April 30, 2026, respectively, and are derived from customer transactions. The Company’s revenue was concentrated among several major customers. For the three months ended July 31, 2026, three customers each accounted for more than 10% of total revenue, representing approximately 20%, 12%, and 10% of total revenue, respectively. For the three months ended July 31, 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.