SUBSEQUENT EVENTS

6 Months Ended

Oct. 31, 2023

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

Note 14: SUBSEQUENT EVENTS

From November 1, 2023 through the date hereof, the Company issued the following shares of common stock:

- 796,399 shares of common stock to Armistice upon the exercise of its Pre-Funded Warrants;

- 42,500 shares of common stock to Midcity to settle the profit guarantee under its prior note arrangement from April 2020; and

- 224,472 shares of common stock to Sapir LLC as compensation for services performed pursuant to a consulting agreement, as amended and restated on April 30, 2020.

On November 16, 2023, the Company entered into an agreement with Agile Capital Funding (the “ACF Agreement”) pursuant to which the Company sold $693,500 in future receivables to ACF (the “ACF Receivable Amount”) in exchange for $450,000 in cash. The Company agreed to pay ACF $28,895.83 each week until the ACF Receivable Amount is paid in full.

In order to secure payment and performance of the Company’s obligations to ACF under the ACF Agreement, the Company granted to ACF a security interest in the following collateral: all present and future accounts receivable. The Company also agreed not to create, incur, assume, or permit to exist, directly or indirectly, any lien on or with respect to any of such collateral.