NOTE 8 – WARRANTS

On February 25, 2026, in connection with the issuance of convertible note with Monroe Street Capital Partners, LP issued 40,575 common stock purchase warrants to purchase 40,575 shares of the Company’s common stock pursuant to the terms therein. These warrants have an exercise price of $2.25, a contract term of 5 years.

On February 27, 2026, in connection with the issuance of convertible note with Lambda Ventures, LLC issued 40,575 common stock purchase warrants to purchase 40,575 shares of the Company’s common stock pursuant to the terms therein. These warrants have an exercise price of $2.25, a contract term of 5 years.

The Company evaluated the value of the warrants using a Black-Scholes model assuming the following inputs: strike price of $2.25; closing stock price of $1.32 on the grant date; discount rate of 3.51%; term of 5 years; volatility of 1275%; and dividend rate of 0%. The total intrinsic value of warrants granted during the year ended April 30, 2026 was $107,118. As the warrants were granted in connection with debt, no additional expense has been recognized in relation to the warrants.

Warrant activity for the years ended April 30, 2026 and 2025 are summarized as follows: