CONVERTIBLE NOTES PAYABLE |
12 Months Ended |
|---|---|
Apr. 30, 2026 | |
| Debt Disclosure [Abstract] | |
| CONVERTIBLE NOTES PAYABLE | NOTE 6 – CONVERTIBLE NOTES PAYABLE
On February 25, 2026, the Company entered into a convertible note payable with Monroe Street Capital Partners, LP, in the amount of $91,292, with an interest rate 8% per annum, and has a maturity date of February 25, 2027. This note included an original issue discount of $21,262 and guaranteed interest due of $7,303. The note contains a conversion feature that allows the holder to convert the outstanding balance plus accrued interest into shares of the Company’s common stock at the lesser of $1.50 or 60% of the lowest trading price of the Company’s stock price for the preceding twenty trading days at any time following the issue date. The Company evaluated the conversion feature in accordance with ASC 815 and determined that the conversion feature qualified for derivative treatment. As such the Company recognized a discount for the full value of the note. The Company recognized amortization expense of $16,007 during the year ended April 30, 2026. Interest expense for the years ended April 30, 2026 and 2025 was $960 and $0, respectively.
In connection with the note, the Company issued shares of common stock and 40,575 warrants to purchase additional shares of the Company at strike price of $ per share. The Company valued the shares of common stock based on the closing share price $ on the grant date for a total of $20,700. As the note was fully discounted, the Company recognized the additional expense related to the shares issued in interest expense. See note 8 for more information on the warrants.
On February 27, 2026, the Company entered into a convertible note payable with Lambda Ventures, LLC, in the amount of $91,292, with an interest rate 8% per annum, and has a maturity date of February 27, 2027. This note included an original issue discount of $6,762 and guaranteed interest due of $7,303. The note contains a conversion feature that allows the holder to convert the outstanding balance plus accrued interest into shares of the Company’s common stock at the lesser of $1.50 or 60% of the lowest trading price of the Company’s stock price for the preceding twenty trading days at any time following the issue date. The Company evaluated the conversion feature in accordance with ASC 815 and determined that the conversion feature qualified for derivative treatment. As such the Company recognized a discount for the full value of the note. The Company recognized amortization expense of $15,507 during the year ended April 30, 2026. Interest expense for the years ended April 30, 2026 and 2025 was $930 and $0, respectively.
In connection with the note, the Company issued 40,575 warrants to purchase additional shares of the Company at strike price of $ per share. See note 8 for more information on the warrants.
On April 1, 2026, the Company entered into a convertible note payable with CFI Capital LLC, in the amount of $170,000, with an interest rate 6% per annum, and has a maturity date of April 1, 2027. This note included an original issue discount of $23,000 and guaranteed interest due of $10,200. The note contains a conversion feature that allows the holder to convert the outstanding balance plus accrued interest into shares of the Company’s common stock at 60% of the lowest trading price of the Company’s stock price for the preceding twenty trading days at any time following the issue date. The Company evaluated the conversion feature in accordance with ASC 815 and determined that the conversion feature qualified for derivative treatment. As such the Company recognized a discount for the full value of the note. The Company recognized amortization expense of $13,507 during the year ended April 30, 2026. Interest expense for the years ended April 30, 2026 and 2025 was $810 and $0, respectively.
On April 30, 2026, the Company entered into a convertible note payable with Silvercrest Hybrid Capital LLC, in the amount of $170,000, with an interest rate 12% per annum, and has a maturity date of April 29, 2027. This note included an original issue discount of $23,000 and guaranteed interest due of $20,400. The note contains a conversion feature that allows the holder to convert the outstanding balance plus accrued interest into shares of the Company’s common stock at 60% of the lowest trading price of the Company’s stock price for the preceding twenty trading days at any time following the issue date. The Company evaluated the conversion feature in accordance with ASC 815 and determined that the conversion feature qualified for derivative treatment. As such the Company recognized a discount for the full value of the note. The Company did not recognize any amortization of the discount during the year ended April 30, 2026. Interest expense for the years ended April 30, 2026 and 2025 was $0.
In connection with the note, the Company issued shares of common stock. The Company valued the shares of common stock based on the closing share price $ on the grant date for a total of $21,303. As the note was fully discounted, the Company recognized the additional expense related to the shares issued in interest expense.
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