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10-K true 2025-04-30 --04-30 2025 false 001-33417 Ocean Power Technologies, Inc. DE 22-2535818 28 ENGELHARD DRIVE SUITE B MONROE TOWNSHIP NJ 08831 (609) 730-0400 Common Stock, par value $0.001 OPTT NYSEAMER Series A Preferred Stock Purchase Rights true NYSEAMER No No Yes Yes Non-accelerated Filer true false false false false 18700000 177542775 Cybersecurity risk is an important component of our overall enterprise risk management framework, given our reliance on digital systems for product development, operational control, communications, data management, and financial reporting. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_902_ecyd--CybersecurityRiskManagementProcessesIntegratedFlag_dbT_c20240501__20250430_zmNSsBJbeVY8">Our operations involve proprietary software and hardware systems integrated into offshore platforms, as well as sensitive information related to customer deployments, government contracts, and internal business processes.We employ a layered cybersecurity approach aligned with industry standards. Our strategy includes preventive and detective technical controls (e.g., endpoint protection, intrusion detection, access control, and network segmentation), employee training, vendor diligence, and third-party audits. We maintain a combination of on-premise and cloud-based infrastructure with multi-factor authentication and routine patch management.We also work with managed cybersecurity service providers to support real-time threat monitoring and incident response capabilities. Penetration testing and vulnerability scanning are performed periodically, and findings are reviewed with senior leadership. Cybersecurity risks are considered in connection with strategic planning, vendor selection, product development (particularly in embedded control systems), and compliance with regulatory obligations, including export control and data privacy laws. To date, we have not experienced any material cybersecurity incidents that have had a significant impact on our financial condition, results of operations, or reputation. However, we recognize that the threat landscape continues to evolve, and we remain vigilant in adapting our security posture to mitigate emerging risks. true Governance<span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90B_ecyd--CybersecurityRiskBoardCommitteeOrSubcommitteeResponsibleForOversightTextBlock_c20240501__20250430_zbrskA3aGSN8">The Board of Directors has oversight responsibility for cybersecurity risk as part of its broader enterprise risk oversight function. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_903_ecyd--CybersecurityRiskManagementPositionsOrCommitteesResponsibleReportToBoardFlag_dbT_c20240501__20250430_z2LU6FrJtmT8">The Audit Committee receives periodic updates on cybersecurity threats, incidents, risk mitigation strategies, and program enhancements from senior management. Our Incident Response Plan outlines steps to investigate, contain, report, and recover from cybersecurity events. We have established internal procedures to investigate, contain, report, and recover from cybersecurity incidents. These procedures are designed to enable a prompt and coordinated response to potential threats. In the event of an incident determined to be material under SEC guidelines, we are prepared to make timely disclosures through current reports (Form 8-K) as required. The Board of Directors has oversight responsibility for cybersecurity risk as part of its broader enterprise risk oversight function. true Cybersecurity Incidents During the fiscal years ended April 30, 2025 and 2024, we did not identify any cybersecurity incidents that had a material impact on our operations, liquidity, or financial condition. We did observe routine scanning, phishing attempts, and minor technical vulnerabilities, all of which were mitigated without operational disruption or data loss. While no material incidents have occurred, we cannot guarantee that future incidents will not materially affect our company, especially as we expand digital product features, enter new geographic markets, and integrate with third-party systems. Additional information about cybersecurity risks we face is discussed in Item 1A of Part I, “Risk Factors,” under the headings “Failure of our information systems or those of third parties or breaches of data security could cause significant harm to our business” and “Cybersecurity breaches of our systems and information technology could adversely impact our ability to operate or meet contractual obligations,” which should be read in conjunction with the information above. true 23 274 We have audited the accompanying consolidated balance sheet of Ocean Power Technologies, Inc. (and subsidiaries) (the “Company”) as of April 30, 2025, the related consolidated statements of operations, shareholders’ equity and cash flows for the year then ended, and the related notes (collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Company as of April 30, 2025, and the consolidated results of its operations and its cash flows for the year then ended, in conformity with accounting principles generally accepted in the United States of America. Baker Tilly US, LLP Dallas, Texas EISNERAMPER LLP Iselin, NJ

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(1) Background and Liquidity (a) Background Ocean Power Technologies, Inc. (“OPT,” “we,” “our,” or “the Company”) is a Maritime Domain Awareness (MDA) company specializing in innovative intelligent maritime solutions. These solutions include a variety of “as a service” systems, including Data as a Service (DaaS), Robotics as a Service (RaaS), and Power as a Service (PaaS). These systems consist of a variety of platforms including the PowerBuoy®, our persistent sensor and power solution, the WAM-V® (Wave Adaptive Modular Vessel), our autonomous unmanned surface vehicle, and Merrows™, our user interface and command and control (C2) system that integrates multiple sensor feeds using software and hardware and enables artificial intelligence and machine learning (AI/ML) integration. We design, manufacture, deploy, and operate these systems for defense, security, subsea infrastructure, offshore oil and gas, offshore energy, marine research, and communication markets. We operate primarily through a combination of direct sales and leases, strategic partnerships, and long-term service agreements. Our business model emphasizes capital-light deployments, recurring revenue from service and maintenance contracts, and high-margin technology sales and leases. We serve a global customer base, including the U.S. and allied defense agencies, offshore energy operators, and commercial interests. The common thread across these markets is the growing need for a persistent, autonomous, and sustainable offshore presence, a need we are uniquely positioned to fulfill. The Company holds numerous patents and leverages decades of research including control systems, energy storage, and marine integration. Our headquarters and assembly operations are located in New Jersey, and we maintain an additional manufacturing and our robotics development facility in Richmond, CA. OPT is committed to enabling a smarter, safer ocean economy through innovation in ocean intelligence and power. As we look forward, our strategic priorities include expanding our customer base, accelerating technology adoption, enhancing recurring revenue, and driving margin growth through platform scalability and supply chain efficiencies. We were incorporated under the laws of the State of New Jersey in April 1984 and began commercial operations in 1994. On April 23, 2007, we reincorporated in Delaware. (b) Liquidity For the fiscal year ended April 30, 2025, the Company incurred net losses of approximately $21.5 million and used cash in operations of approximately $18.6 million. In addition, the Company has continued to make investments to support order backlog and future growth. For the fiscal year ended April 30, 2025 and through the date of filing of this Form 10-K, the Company has obtained additional capital financing through our capital raises with certain investors. Management believes the Company’s current cash, cash equivalents, and restricted cash balances at April 30, 2025 of $6.9 million and future financing including the May 2025 convertible debt proceeds will be sufficient to fund its planned expenditures through July 2026.

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(2) Summary of Significant Accounting Policies (a) Basis of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries, Marine Advanced Robotics Inc. (CA), referred to herein as MAR, 3dent Technologies LLC (3Dent), Oregon Wave Energy Partners I LLC (DE), and ReedSport OPT WavePark, LLC (OR). The Ocean Power Technologies Ltd. in the United Kingdom was dissolved on April 22, 2025. ReedSport OPT WavePark, LLC (OR) and Oregon Wave Energy Partners I, LLC (DE) were dissolved during the first quarter of fiscal 2024. 3dent was sold in November 2023 and the consolidated financial statements for the three and nine months ended January 31, 2024 include 3dent’s results of operations for the applicable periods through the date of sale. All significant intercompany balances and transactions have been eliminated in consolidation. (b) Use of Estimates The preparation of the consolidated financial statements requires management of the Company to make several estimates and assumptions relating to the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the period. Significant items subject to such estimates and assumptions include, among other items, stock-based compensation based on actual and projected revenues, over time revenue recognition, valuation consideration related to business combinations, including contingent consideration based on actual and projected revenues, including discount rates and present values, and other assumptions and estimates used to evaluate the recoverability of long-lived assets, goodwill and other intangible assets. Actual results could differ from those estimates. (c) Business Combinations The Company accounts for business combinations in accordance with Financial Accounting and Standards Board (“FASB”) Business Combinations (Topic 805). The Company allocates the fair value of consideration transferred in a business combination to the estimated fair value at the acquisition date of the tangible and intangible assets acquired as well as the liabilities assumed. Acquisition costs are expensed as incurred. Any excess consideration transferred is recorded as goodwill and in instances where the fair value of consideration transferred is less than the estimated fair value of tangible and intangible assets acquired less liabilities assumed, such amounts are recorded as a gain on the bargain purchase. (d) Revenue Recognition The Company accounts for revenue in accordance with Accounting Standards Codification 606 (ASC 606) for contracts with customers and Accounting Standards Codification 842 (ASC 842) for leasing arrangements. In relation to ASC 606, which states that a performance obligation is the unit of account for revenue recognition, the Company assesses the goods or services promised in a contract with a customer and identifies as a performance obligation as either: a) a good or service (or a bundle of goods or services) that is distinct; or b) a series of distinct goods or services that are substantially the same and that have the same pattern of transfer to the customer. A contract may contain a single performance obligation or multiple performance obligations. For contracts with multiple performance obligations, the Company allocates the contracted transaction price to each performance obligation based upon the relative standalone selling price, which represents the price the Company would sell a promised good or service separately to a customer. The Company determines the standalone selling price based upon the facts and circumstances of each obligated good or service. When no observable standalone selling price is available, the standalone selling price is generally estimated based upon the Company’s forecast of the total cost to satisfy the performance obligation plus an appropriate profit margin. The nature of the Company’s contracts may give rise to several types of variable consideration, including unpriced change orders, liquidated damages and penalties. Variable consideration can also arise from modifications to the scope of services. Variable consideration is included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur once the uncertainty associated with the variable consideration is resolved. Estimates of variable consideration and determination of whether to include such amounts in the transaction price are based largely on the assessment of legal enforceability, performance, and any other information (historical, current, and forecasted) that is reasonably available to us. There was no variable consideration as of April 30, 2025 or 2024. The Company presents shipping and handling costs, that occur after control of the promised goods or services transfer to the customer, as fulfillment costs in costs of goods sold and regular shipping and handling activities charged to operating expenses. The Company recognizes revenue when or as it satisfies a performance obligation by transferring a good or service to a customer, either (1) at a point in time or (2) over time. A good or service is transferred when or as the customer obtains control (e.g., upon shipment, upon delivery, as services are rendered, or upon completion of service), including when performance obligations are satisfied in a bill-and-hold arrangement. The evaluation of whether control of each performance obligation is transferred at a point in time or over time is made at contract inception. Input measures such as costs incurred are utilized to assess progress against specific contractual performance obligations for the Company’s services. The selection of the method to measure progress towards completion requires judgment and is based on the nature of the services to be provided. For the Company, the input method using costs or labor hours incurred best represents the measure of progress against the performance obligations incorporated within the contractual agreements. If estimated total costs on any contract project a loss, the Company charges the entire estimated loss to operations in the period the loss becomes known. The cumulative effect of revisions to revenue, estimated costs to complete contracts, including penalties, change orders, claims, anticipated losses, and others are recorded in the accounting period in which the events indicating a loss are known and the loss can be reasonably estimated. These loss projections are re-assessed for each subsequent reporting period until the project is complete. Such revisions could occur at any time and the effects may be material. During the fiscal year ended April 30, 2025 the Company recognized approximately $<span id="xdx_904_eus-gaap--RevenueRemainingPerformanceObligation_iI_pn5n6_c20250430__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zVoOuX26Itn3" title="Revenue related to performance obligations satisfied at a point in time">4.9 million in revenue related to performance obligations satisfied at a point in time and approximately $<span id="xdx_905_eus-gaap--RevenueRemainingPerformanceObligation_iI_pn5n6_c20250430__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zNpCHxpaxFP" title="Revenue related to performance obligations satisfied over-time">1.0 million in revenue related to performance obligations satisfied over time. During the fiscal year ended April 30, 2024 the Company recognized approximately $<span id="xdx_90F_eus-gaap--RevenueRemainingPerformanceObligation_iI_pn5n6_c20240430__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zlTQZtfoRmXg" title="Revenue recognized related to performance obligations">3.7 million in revenue related to performance obligations satisfied at a point in time and approximately $<span id="xdx_903_eus-gaap--RevenueRemainingPerformanceObligation_iI_pn5n6_c20240430__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_z4mp6Qv6aqAe" title="Revenue recognized related to performance obligations">1.9 million in revenue related to performance obligations satisfied over time. The Company’s contracts are either cost-plus contracts, fixed-price contracts, time and material agreements, lease or service agreements. Under cost plus contracts, customers are billed for actual expenses incurred plus an agreed-upon fee. The Company has two types of fixed-price contracts, firm fixed-price and cost-sharing. Under firm fixed-price contracts, the Company receives an agreed-upon amount for providing products and services specified in the contract, and a profit or loss is recognized depending on whether actual costs are more or less than the agreed-upon amount. Under cost-sharing contracts, the fixed amount agreed upon with the customer is only intended to fund a portion of the costs on a specific project. Under cost-sharing contracts, an amount corresponding to the revenue is recorded in cost of revenue, resulting in gross profit on these contracts of zero. The Company reports its disaggregation of revenue by contract type since this method best represents the Company’s business. For the fiscal years ended April 30, 2025 and 2024, the majority of the Company’s contracts were classified as firm fixed-price and the remainder were cost-sharing. The Company’s contract assets and liabilities primarily relate to the timing differences between cash received from a customer in connection with contractual rights to invoicing and the timing of revenue recognition following completion of performance obligations. The Company’s accounts receivable balance is made up entirely of customer contract-related balances. The Company’s revenue also includes revenue from certain contracts which do not fall within the scope of ASC 606, but under the scope of ASC 842, “Leases”. At inception of a contract for those classified under ASC 842, the Company classifies leases as either operating or financing in accordance with the authoritative accounting guidance contained within ASC 842. If the direct financing or sales-type classification criteria are met, then the lease is accounted for as a finance lease. All others are treated as operating leases. The Company recognizes revenue from operating lease arrangements generally on a straight-line basis over the lease term, or as agreed upon in-use days are utilized, which is presented in Revenues in the Consolidated Statement of Operations. The Company also enters into lease arrangements for its PowerBuoys® and Wave Adaptive Modular Vessels (“WAM-V®”) with certain customers. Revenue related to multiple-element arrangements is allocated to lease and non-lease elements based on their relative standalone selling prices or expected cost plus a margin approach. Lease elements generally include a PowerBuoy®, WAM-V®, and components, while non-lease elements, which the Company expects to become more prevalent, generally include engineering, monitoring and support services. In the lease arrangement, the customer may be provided with an option to extend the lease term or purchase the leased buoy or WAM-V® at some point during and/or at the end of the lease term. As of April 30, 2025, the Company’s remaining performance obligations, also called contracted backlog, totaled $12.5 million. The Company has elected to record taxes collected from customers on a net basis and does not include tax amounts in revenue or costs of revenue. The below table represents the total revenue recognized under ASC 606 and ASC 842 fiscal years ended April 30, 2025 and 2024: Schedule of Revenue Recognized Under ASC 606 and ASC 842 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240501__20250430__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__custom--AccountingStandardsUpdate606Member_zsRm6v61LWk3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20240501__20250430__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zakZM1x8S2J4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240501__20250430_zEKgmEAHssl1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20230501__20240430__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__custom--AccountingStandardsUpdate606Member_zCoAi7mnnHM" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20230501__20240430__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_z9vgryaGEn2e" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20230501__20240430_zAhYWATEzdzb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fiscal year ended April 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fiscal year ended April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 606</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 842</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 606</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 842</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="10" style="text-align: center">(in thousands)</td><td> </td><td style="border-left: Black 1pt solid"> </td> <td colspan="10" style="text-align: center">(in thousands)</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Product Line:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--WAMVMember_zUmfXwvKQYsf" style="vertical-align: bottom; background-color: White"> <td style="width: 22%">WAM-V</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4,216</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">338</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4,554</td><td style="width: 1%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,912</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,392</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,304</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--BuoyMember_zHRqSEe9HgMf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Buoy</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">474</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">115</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">589</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">1,739</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,739</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__us-gaap--ServiceMember_zsqauGPbfay3" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Services</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">718</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">718</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">482</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">482</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__us-gaap--ProductMember_ziUhAsPmcPNi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Total</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,408</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">453</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,861</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">4,133</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,392</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,525</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Region:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--NorthAndSouthAmericaMember_znmKfQQuLFzb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">North and South America</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,855</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,855</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">4,101</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,177</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,278</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__us-gaap--EMEAMember_zZEYp9NmC0Eh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>EMEA</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,550</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">338</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,888</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">32</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">215</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">247</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--AsiaAndAustraliaMember_zNUpp9rpSCVc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Asia and Australia</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">115</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">118</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--RegionMember_zw3LukEUHpS2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Total</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,408</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">453</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,861</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">4,133</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,392</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,525</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--RegionMember_zt1WAK4M4QHj" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,408</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">453</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,861</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">4,133</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,392</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,525</td><td style="text-align: left"> </td></tr> </table> (e) Cash and Cash Equivalents, Restricted Cash, Security Agreements and Investments Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased, to be cash equivalents. The Company invests excess cash in a money market account or in short-term investments that are held-to-maturity. The Company had cash and cash equivalents of approximately $6.9 million and $3.3 million as of April 30, 2025 and 2024, respectively. Restricted Cash and Security Agreements The Company has a letter of credit agreement with Santander Bank, N.A. (“Santander”). Cash of $154,000 is on deposit at Santander and serves as security for a letter of credit issued by Santander for the lease of warehouse/office space in Monroe Township, New Jersey. The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets that total to the same amounts shown in the Consolidated Statements of Cash Flows. Schedule of Cash, Cash Equivalents and Restricted Cash <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250430_zUGZDa5dAY43" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240430_ztXfdeNcCUa6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_40D_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3_maCCERCzbyj_zPwciGsRxwEd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,715</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,151</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--RestrictedCashCurrent_iI_pn3n3_maCCERCzbyj_zm7E28Ebyp12" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Restricted cash- short-term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RestrictedCashNoncurrent_iI_pn3n3_maCCERCzbyj_zwipqx1q5Mmi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Restricted cash- long-term</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">154</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">154</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_iTI_pn3n3_mtCCERCzbyj_zUUBf8wTL9be" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Cash, cash equivalents, restricted cash and restricted cash equivalents</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,869</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,305</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> (f) Inventory In accordance with Accounting Standards Codification 330 (ASC 330), inventory is stated at the lower of cost or net realizable value applicable to goods on hand. Items remain in inventory until they are shipped to the customer, at which time the costs are transferred on a FIFO basis to cost of revenues, or moved to leased assets as applicable, following the matching principle where costs and revenues are recognized in the same period. The Company has three classes of inventory; raw materials, work in process, and finished goods. (g) Accounts Receivable Accounts receivable are stated at the net amount expected to be collected. Amounts are usually due between 30 and 90 days after the invoice issuance. The Company is exposed to credit losses primarily on accounts receivable and contract assets related to sales to customers. If applicable, an allowance for credit losses is established to provide for the expected lifetime credit losses by evaluating factors such as customer creditworthiness, historical payment and loss experiences, current economic conditions (including geographic and political risk), and the age and status of outstanding receivables. Based on these factors, management has established the allowance for credit losses of approximately $100,000. Expected credit losses are written off in the period in which the financial assets are no longer collectible. The Company grants credit to its customers, generally without collateral terms as long as the customer demonstrates the ability to make the payments. . Generally, invoicing occurs after the services are performed or control of the product has transferred to the customer. Accounts receivable represent an unconditional right to consideration arising from the Company’s performance under contracts with customers. (h) Property and Equipment, net Property and equipment is stated at cost, less accumulated depreciation and amortization. Depreciation and amortization is calculated using the straight-line method over the estimated useful lives (3 three to ten years) of the assets. Leasehold improvements are amortized using the straight-line method over the shorter of the estimated useful life of the asset or the remaining lease term. Expenses for maintenance and repairs are charged to operations as incurred. Property and equipment is also reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of the asset exceeds its estimated future cash flows, then an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset. Schedule of Property and Equipment Estimated Useful Life <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%">Description</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%">Estimated useful life</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Equipment</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250430__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MinimumMember_zCUvr6qcxxr7" title="Property and equipment, useful life (Year)">5-<span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250430__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MaximumMember_zC2T7A7GSwI4" title="Property and equipment, useful life (Year)">7 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Computer equipment & software</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250430__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerEquipmentAndSoftwareMember_zQZQO800YvJa" title="Property and equipment, useful life (Year)">3 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Office furniture & fixtures</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250430__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OfficeFurnitureAndFixturesMember__srt--RangeAxis__srt--MinimumMember_zAoKuqTmSC7b" title="Property and equipment, useful life (Year)">3-<span id="xdx_904_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250430__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OfficeFurnitureAndFixturesMember__srt--RangeAxis__srt--MaximumMember_zePSf9nKJyTh" title="Property and equipment, useful life (Year)">7 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">Leasehold improvements</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentUsefulLifeDescriptionOfTermExtensibleEnumeration_iI_dxL_c20250430__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zq3sRoaWdDee" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23UsefulLifeTermOfLeaseMember">Shorter of the estimated useful life or lease term</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">Leased Power Buoy assets</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span id="xdx_90A_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250430__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LeasedPowerBuoysAssetsMember_zhdiB8HDSvd" title="Property and equipment, useful life (Year)">10 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">Leased WAM-V assets</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span id="xdx_90F_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250430__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LeasedAssetsMember_z9RP3p6XSq8a" title="Property and equipment, estimated useful life">10 years</td></tr> </table> <p id="xdx_84C_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_zizhmnd8Um3h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in">(i) Foreign Exchange Gains and Losses Transactions denominated in a foreign currency may result in realized and unrealized foreign exchange gains or losses from exchange rate fluctuations, which are included in “Foreign exchange gain” in the accompanying Consolidated Statements of Operations. (j) Concentration of Credit Risk Financial instruments that potentially subject the Company to credit risk consist principally of trade accounts receivable and cash equivalents. The Company believes that its credit risk is limited because the Company’s current contracts are with entities with a reliable and predictable payment history. The Company invests its excess cash in a money market fund and does not believe that it is exposed to any significant risks related to its cash accounts, money market fund, or held-to-maturity investments. As of the year ended April 30, 2025 and 2024, the Company had three and four customers whose revenue accounted for at least 10% of the Company’s consolidated revenue, respectively. These customers accounted for approximately <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240501__20250430__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ThreeCustomersMember_zg4wB6XbWTjl" title="Concentration risk percentage">53% and <span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230501__20240430__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--FourCustomersMember_zBdRT09QPKrc" title="Concentration risk percentage">52% of the Company’s total revenue for the respective periods. (k) Net Loss per Common Share Basic and diluted net loss per share for all periods presented is computed by dividing net loss by the weighted average number of shares of common stock and common stock equivalents outstanding during the period. Due to the Company’s net losses, potentially dilutive securities, consisting of options to purchase shares of common stock, warrants on common stock and unvested restricted stock units (“RSUs”) issued to employees and non-employee directors, were excluded from the diluted loss per share calculation due to their anti-dilutive effect. In computing diluted net loss per share on the Consolidated Statement of Operations, warrants on common stock, options to purchase shares of common stock and unvested RSUs issued to employees and non-employee directors, totaling <span id="xdx_905_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240501__20250430_zLYaPiSrl8Ej" title="Antidilutive securities excluded from computation of diluted net loss per share">24,929,864 and <span id="xdx_900_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20230501__20240430_zg9po8UwmcL5" title="Antidilutive securities excluded from computation of diluted net loss per share">5,859,072 for the years ended April 30, 2025 and 2024, respectively, were excluded from each of the computations as the effect would have been anti-dilutive due to the net loss for the periods. Share purchase rights, which include a contingency, are not included in the calculation until the contingency is resolved. <p id="xdx_846_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zTbaFdUQdATk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in">(l) Share-Based Compensation Costs resulting from all share-based payment transactions are recognized in the consolidated financial statements at their fair values. The aggregate share-based compensation expense recorded in the Consolidated Statements of Operations for the years ended April 30, 2025 and 2024 was approximately $4.6 million and $1.2 million, respectively. The Company’s policy is to account for forfeitures of share-based compensation as they occur. Additionally, upon vesting of RSUs that were granted to an employee, the employee is given the option to either pay the taxes themselves, or have enough shares of their RSU award withheld by the Company to cover the taxes incurred by the employee. In the event the employee elects to surrender shares to cover the tax obligation, the Company maintains those shares in the Company’s treasury stock account. Forfeited shares held in the Company’s treasury stock account are not available for future RSU grants. (m) Intangibles, net Intangible assets acquired in a business combination are recognized separately from goodwill and are initially recognized at their fair value at the acquisition date (which is regarded as their cost). Intangible assets, including patents, are amortized over the estimated useful life of the asset on a basis that approximates the pattern of economic benefit. The patents are being amortized over <span id="xdx_90A_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20250430__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zOcdCCnZkyi" title="Intangible asset estimated lives">20, <span id="xdx_90A_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20250430__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zpikEIcnLnjl" title="Intangible asset estimated lives">12 and <span id="xdx_900_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20250430__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zIBoSvqW3Ydl" title="Intangible asset estimated lives">10 years respectively, which is consistent with the estimated pattern of economic benefit of the assets. Prior to their disposal during the fiscal year ended April 30, 2024, trade-name and customer relationship intangibles were amortized over <span id="xdx_90F_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20240430__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_ziidZpNMYSab" title="Intangible asset estimated lives">20, <span id="xdx_900_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20240430__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zAZTW3BzV41g" title="Intangible asset estimated lives">12 and <span id="xdx_90A_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20240430__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zWUa47E1Ehl2" title="Intangible asset estimated useful life">10 years respectively The trademark is not subject to amortization. Intangible assets are reviewed for impairment if indicators of potential impairment exist. There was no indication of impairment of intangible assets for the fiscal years ended April 30, 2025 and April 30, 2024. However, in connection with the sale of 3Dent in November of 2023, the trade-name and customer relationships were both expensed fully during the year ended April 30, 2024 under Loss on disposition of assets on the Consolidated Statements of Operations. (n) Goodwill Goodwill is assessed for impairment using a qualitative or quantitative approach. The Company performs an annual impairment test of goodwill and further periodic tests to the extent indicators of impairment develop between annual impairment tests. There were no indications of potential impairment of goodwill identified for the year ended April 30, 2025 and 2024. Where the Company uses a qualitative analysis, it considers factors that include historical financial performance, macroeconomic and industry conditions, and the legal and regulatory environment. If the qualitative assessment indicates that it is more likely than not that an impairment exists, then a quantitative assessment is also performed. The quantitative assessment requires an analysis of several estimates including future cash flows or income consistent with management’s strategic business plans, annual sales growth rates and the selection of assumptions underlying a discount rate (weighted average cost of capital) based on market data available at the time to determine fair value of the Company. If the fair value is less than the carrying amounts, an impairment charge for the difference is recorded. The Company acquired goodwill as part of its purchase of MAR. Management performed its annual qualitative assessment in fiscal year 2025 and 2024 and determined that it is more likely than not that no goodwill impairment existed as of April 30, 2025 and 2024. (o) Income Taxes The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained upon examination. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest related to unrecognized tax benefits in interest expense and penalties in selling, general, and administrative expenses, to the extent incurred. Refer to Note 13 for additional disclosure. In order to monetize their attributes, the Company has historically sold the Net Operating Losses (NOL’s) generated in New Jersey. The Company has elected to recognize the gain on the sale as a component of tax expense at the time of the sale. Prior to the time of sale, the Company has elected to not factor the expected sales when assessing the realizability of the related deferred tax assets. (p) Accumulated Other Comprehensive Loss The functional currency for the Company’s foreign operations is the applicable local currency. The translation from the applicable foreign currencies to U.S. dollars is performed for balance sheet accounts using the exchange rates in effect at the balance sheet date and for revenue and expense accounts using an average exchange rate during the period. The unrealized gains or losses resulting from such translation are included in Accumulated Other Comprehensive (Income) Loss within Shareholders’ Equity. For the year ended April 30, 2025 and 2024, there were no amounts recorded to other comprehensive (income) loss due to no longer having any foreign subsidiaries as of April 30, 2025. (q) Warranty The Company does not include a right of return on its products other than rights related to standard warranty provisions that permit repair or replacement of defective goods. Warranty expense incurred to date has not been material. (r) Product development Costs related to research and development activities by the Company are expensed as incurred. The Company had approximately $3.6 million and $7.7 million in product development expense for the year ended April 30, 2025 and 2024, respectively. The year over year decrease related to the completion of the majority of research activities and a transition to a focus on development and enhancements to our existing products. (s) Recent Accounting Standards Recently Issued Accounting Standards In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”), which improves the transparency of income tax disclosures by requiring companies to (1) disclose consistent categories and greater disaggregation of information in the effective rate reconciliation and (2) provide information on income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, although early adoption is permitted. The guidance should be applied on a prospective basis with the option to apply the standard retrospectively. We are currently evaluating the impact of adopting this ASU 2023-09 on our consolidated financial statements and disclosures. In November 2024, the FASB issued ASU No. 2024-3, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” This ASU improves the disclosures about a public business entity’s expenses and address requests from investors for more detailed information about the types of expenses in commonly presented expense captions. The new guidance is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. We are currently evaluating what the potential impact of adopting this ASU 2024-03 could have on our consolidated financial statements and disclosures Recently Adopted Accounting Standards In November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” This ASU improves financial reporting by requiring disclosure of incremental segment information. The new guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company adopted this standard beginning in fiscal 2025 and all required segment related disclosures will be presented within this Form 10-K and in subsequent interim reports on Form 10-Q. Refer to Note 15 for further discussion. (t) Reclassifications Certain amounts may have been reclassified to conform to the current period’s presentation. This reclassification had no impact on the previously reported net loss or comprehensive loss.

(a) Basis of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries, Marine Advanced Robotics Inc. (CA), referred to herein as MAR, 3dent Technologies LLC (3Dent), Oregon Wave Energy Partners I LLC (DE), and ReedSport OPT WavePark, LLC (OR). The Ocean Power Technologies Ltd. in the United Kingdom was dissolved on April 22, 2025. ReedSport OPT WavePark, LLC (OR) and Oregon Wave Energy Partners I, LLC (DE) were dissolved during the first quarter of fiscal 2024. 3dent was sold in November 2023 and the consolidated financial statements for the three and nine months ended January 31, 2024 include 3dent’s results of operations for the applicable periods through the date of sale. All significant intercompany balances and transactions have been eliminated in consolidation.

(b) Use of Estimates The preparation of the consolidated financial statements requires management of the Company to make several estimates and assumptions relating to the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the period. Significant items subject to such estimates and assumptions include, among other items, stock-based compensation based on actual and projected revenues, over time revenue recognition, valuation consideration related to business combinations, including contingent consideration based on actual and projected revenues, including discount rates and present values, and other assumptions and estimates used to evaluate the recoverability of long-lived assets, goodwill and other intangible assets. Actual results could differ from those estimates.

(c) Business Combinations The Company accounts for business combinations in accordance with Financial Accounting and Standards Board (“FASB”) Business Combinations (Topic 805). The Company allocates the fair value of consideration transferred in a business combination to the estimated fair value at the acquisition date of the tangible and intangible assets acquired as well as the liabilities assumed. Acquisition costs are expensed as incurred. Any excess consideration transferred is recorded as goodwill and in instances where the fair value of consideration transferred is less than the estimated fair value of tangible and intangible assets acquired less liabilities assumed, such amounts are recorded as a gain on the bargain purchase.

(d) Revenue Recognition The Company accounts for revenue in accordance with Accounting Standards Codification 606 (ASC 606) for contracts with customers and Accounting Standards Codification 842 (ASC 842) for leasing arrangements. In relation to ASC 606, which states that a performance obligation is the unit of account for revenue recognition, the Company assesses the goods or services promised in a contract with a customer and identifies as a performance obligation as either: a) a good or service (or a bundle of goods or services) that is distinct; or b) a series of distinct goods or services that are substantially the same and that have the same pattern of transfer to the customer. A contract may contain a single performance obligation or multiple performance obligations. For contracts with multiple performance obligations, the Company allocates the contracted transaction price to each performance obligation based upon the relative standalone selling price, which represents the price the Company would sell a promised good or service separately to a customer. The Company determines the standalone selling price based upon the facts and circumstances of each obligated good or service. When no observable standalone selling price is available, the standalone selling price is generally estimated based upon the Company’s forecast of the total cost to satisfy the performance obligation plus an appropriate profit margin. The nature of the Company’s contracts may give rise to several types of variable consideration, including unpriced change orders, liquidated damages and penalties. Variable consideration can also arise from modifications to the scope of services. Variable consideration is included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur once the uncertainty associated with the variable consideration is resolved. Estimates of variable consideration and determination of whether to include such amounts in the transaction price are based largely on the assessment of legal enforceability, performance, and any other information (historical, current, and forecasted) that is reasonably available to us. There was no variable consideration as of April 30, 2025 or 2024. The Company presents shipping and handling costs, that occur after control of the promised goods or services transfer to the customer, as fulfillment costs in costs of goods sold and regular shipping and handling activities charged to operating expenses. The Company recognizes revenue when or as it satisfies a performance obligation by transferring a good or service to a customer, either (1) at a point in time or (2) over time. A good or service is transferred when or as the customer obtains control (e.g., upon shipment, upon delivery, as services are rendered, or upon completion of service), including when performance obligations are satisfied in a bill-and-hold arrangement. The evaluation of whether control of each performance obligation is transferred at a point in time or over time is made at contract inception. Input measures such as costs incurred are utilized to assess progress against specific contractual performance obligations for the Company’s services. The selection of the method to measure progress towards completion requires judgment and is based on the nature of the services to be provided. For the Company, the input method using costs or labor hours incurred best represents the measure of progress against the performance obligations incorporated within the contractual agreements. If estimated total costs on any contract project a loss, the Company charges the entire estimated loss to operations in the period the loss becomes known. The cumulative effect of revisions to revenue, estimated costs to complete contracts, including penalties, change orders, claims, anticipated losses, and others are recorded in the accounting period in which the events indicating a loss are known and the loss can be reasonably estimated. These loss projections are re-assessed for each subsequent reporting period until the project is complete. Such revisions could occur at any time and the effects may be material. During the fiscal year ended April 30, 2025 the Company recognized approximately $<span id="xdx_904_eus-gaap--RevenueRemainingPerformanceObligation_iI_pn5n6_c20250430__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zVoOuX26Itn3" title="Revenue related to performance obligations satisfied at a point in time">4.9 million in revenue related to performance obligations satisfied at a point in time and approximately $<span id="xdx_905_eus-gaap--RevenueRemainingPerformanceObligation_iI_pn5n6_c20250430__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zNpCHxpaxFP" title="Revenue related to performance obligations satisfied over-time">1.0 million in revenue related to performance obligations satisfied over time. During the fiscal year ended April 30, 2024 the Company recognized approximately $<span id="xdx_90F_eus-gaap--RevenueRemainingPerformanceObligation_iI_pn5n6_c20240430__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zlTQZtfoRmXg" title="Revenue recognized related to performance obligations">3.7 million in revenue related to performance obligations satisfied at a point in time and approximately $<span id="xdx_903_eus-gaap--RevenueRemainingPerformanceObligation_iI_pn5n6_c20240430__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_z4mp6Qv6aqAe" title="Revenue recognized related to performance obligations">1.9 million in revenue related to performance obligations satisfied over time. The Company’s contracts are either cost-plus contracts, fixed-price contracts, time and material agreements, lease or service agreements. Under cost plus contracts, customers are billed for actual expenses incurred plus an agreed-upon fee. The Company has two types of fixed-price contracts, firm fixed-price and cost-sharing. Under firm fixed-price contracts, the Company receives an agreed-upon amount for providing products and services specified in the contract, and a profit or loss is recognized depending on whether actual costs are more or less than the agreed-upon amount. Under cost-sharing contracts, the fixed amount agreed upon with the customer is only intended to fund a portion of the costs on a specific project. Under cost-sharing contracts, an amount corresponding to the revenue is recorded in cost of revenue, resulting in gross profit on these contracts of zero. The Company reports its disaggregation of revenue by contract type since this method best represents the Company’s business. For the fiscal years ended April 30, 2025 and 2024, the majority of the Company’s contracts were classified as firm fixed-price and the remainder were cost-sharing. The Company’s contract assets and liabilities primarily relate to the timing differences between cash received from a customer in connection with contractual rights to invoicing and the timing of revenue recognition following completion of performance obligations. The Company’s accounts receivable balance is made up entirely of customer contract-related balances. The Company’s revenue also includes revenue from certain contracts which do not fall within the scope of ASC 606, but under the scope of ASC 842, “Leases”. At inception of a contract for those classified under ASC 842, the Company classifies leases as either operating or financing in accordance with the authoritative accounting guidance contained within ASC 842. If the direct financing or sales-type classification criteria are met, then the lease is accounted for as a finance lease. All others are treated as operating leases. The Company recognizes revenue from operating lease arrangements generally on a straight-line basis over the lease term, or as agreed upon in-use days are utilized, which is presented in Revenues in the Consolidated Statement of Operations. The Company also enters into lease arrangements for its PowerBuoys® and Wave Adaptive Modular Vessels (“WAM-V®”) with certain customers. Revenue related to multiple-element arrangements is allocated to lease and non-lease elements based on their relative standalone selling prices or expected cost plus a margin approach. Lease elements generally include a PowerBuoy®, WAM-V®, and components, while non-lease elements, which the Company expects to become more prevalent, generally include engineering, monitoring and support services. In the lease arrangement, the customer may be provided with an option to extend the lease term or purchase the leased buoy or WAM-V® at some point during and/or at the end of the lease term. As of April 30, 2025, the Company’s remaining performance obligations, also called contracted backlog, totaled $12.5 million. The Company has elected to record taxes collected from customers on a net basis and does not include tax amounts in revenue or costs of revenue. The below table represents the total revenue recognized under ASC 606 and ASC 842 fiscal years ended April 30, 2025 and 2024: Schedule of Revenue Recognized Under ASC 606 and ASC 842 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240501__20250430__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__custom--AccountingStandardsUpdate606Member_zsRm6v61LWk3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20240501__20250430__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zakZM1x8S2J4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240501__20250430_zEKgmEAHssl1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20230501__20240430__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__custom--AccountingStandardsUpdate606Member_zCoAi7mnnHM" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20230501__20240430__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_z9vgryaGEn2e" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20230501__20240430_zAhYWATEzdzb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fiscal year ended April 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fiscal year ended April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 606</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 842</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 606</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 842</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="10" style="text-align: center">(in thousands)</td><td> </td><td style="border-left: Black 1pt solid"> </td> <td colspan="10" style="text-align: center">(in thousands)</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Product Line:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--WAMVMember_zUmfXwvKQYsf" style="vertical-align: bottom; background-color: White"> <td style="width: 22%">WAM-V</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4,216</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">338</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4,554</td><td style="width: 1%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,912</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,392</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,304</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--BuoyMember_zHRqSEe9HgMf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Buoy</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">474</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">115</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">589</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">1,739</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,739</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__us-gaap--ServiceMember_zsqauGPbfay3" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Services</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">718</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">718</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">482</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">482</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__us-gaap--ProductMember_ziUhAsPmcPNi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Total</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,408</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">453</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,861</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">4,133</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,392</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,525</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Region:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--NorthAndSouthAmericaMember_znmKfQQuLFzb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">North and South America</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,855</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,855</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">4,101</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,177</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,278</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__us-gaap--EMEAMember_zZEYp9NmC0Eh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>EMEA</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,550</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">338</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,888</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">32</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">215</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">247</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--AsiaAndAustraliaMember_zNUpp9rpSCVc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Asia and Australia</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">115</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">118</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--RegionMember_zw3LukEUHpS2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Total</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,408</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">453</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,861</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">4,133</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,392</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,525</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--RegionMember_zt1WAK4M4QHj" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,408</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">453</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,861</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">4,133</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,392</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,525</td><td style="text-align: left"> </td></tr> </table>

4900000

1000000.0

3700000

1900000

12500000

The below table represents the total revenue recognized under ASC 606 and ASC 842 fiscal years ended April 30, 2025 and 2024: Schedule of Revenue Recognized Under ASC 606 and ASC 842 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240501__20250430__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__custom--AccountingStandardsUpdate606Member_zsRm6v61LWk3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20240501__20250430__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zakZM1x8S2J4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240501__20250430_zEKgmEAHssl1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20230501__20240430__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__custom--AccountingStandardsUpdate606Member_zCoAi7mnnHM" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20230501__20240430__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_z9vgryaGEn2e" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20230501__20240430_zAhYWATEzdzb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fiscal year ended April 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fiscal year ended April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 606</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 842</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 606</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 842</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="10" style="text-align: center">(in thousands)</td><td> </td><td style="border-left: Black 1pt solid"> </td> <td colspan="10" style="text-align: center">(in thousands)</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Product Line:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--WAMVMember_zUmfXwvKQYsf" style="vertical-align: bottom; background-color: White"> <td style="width: 22%">WAM-V</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4,216</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">338</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4,554</td><td style="width: 1%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,912</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,392</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,304</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--BuoyMember_zHRqSEe9HgMf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Buoy</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">474</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">115</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">589</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">1,739</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,739</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__us-gaap--ServiceMember_zsqauGPbfay3" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Services</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">718</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">718</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">482</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">482</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__us-gaap--ProductMember_ziUhAsPmcPNi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Total</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,408</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">453</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,861</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">4,133</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,392</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,525</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Region:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--NorthAndSouthAmericaMember_znmKfQQuLFzb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">North and South America</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,855</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,855</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">4,101</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,177</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,278</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__us-gaap--EMEAMember_zZEYp9NmC0Eh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>EMEA</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,550</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">338</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,888</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">32</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">215</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">247</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--AsiaAndAustraliaMember_zNUpp9rpSCVc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Asia and Australia</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">115</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">118</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--RegionMember_zw3LukEUHpS2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Total</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,408</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">453</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,861</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">4,133</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,392</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,525</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--RegionMember_zt1WAK4M4QHj" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,408</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">453</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,861</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">4,133</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,392</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,525</td><td style="text-align: left"> </td></tr> </table>

4216000

338000

4554000

1912000

1392000

3304000

474000

115000

589000

1739000

718000

482000

5408000

453000

5861000

4133000

1392000

5525000

3855000

4101000

1177000

5278000

1550000

338000

1888000

32000

215000

247000

3000

115000

118000

5408000

453000

5861000

4133000

1392000

5525000

5408000

453000

5861000

4133000

1392000

5525000

(e) Cash and Cash Equivalents, Restricted Cash, Security Agreements and Investments Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased, to be cash equivalents. The Company invests excess cash in a money market account or in short-term investments that are held-to-maturity. The Company had cash and cash equivalents of approximately $6.9 million and $3.3 million as of April 30, 2025 and 2024, respectively. Restricted Cash and Security Agreements The Company has a letter of credit agreement with Santander Bank, N.A. (“Santander”). Cash of $154,000 is on deposit at Santander and serves as security for a letter of credit issued by Santander for the lease of warehouse/office space in Monroe Township, New Jersey. The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets that total to the same amounts shown in the Consolidated Statements of Cash Flows. Schedule of Cash, Cash Equivalents and Restricted Cash <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250430_zUGZDa5dAY43" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240430_ztXfdeNcCUa6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_40D_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3_maCCERCzbyj_zPwciGsRxwEd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,715</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,151</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--RestrictedCashCurrent_iI_pn3n3_maCCERCzbyj_zm7E28Ebyp12" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Restricted cash- short-term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RestrictedCashNoncurrent_iI_pn3n3_maCCERCzbyj_zwipqx1q5Mmi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Restricted cash- long-term</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">154</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">154</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_iTI_pn3n3_mtCCERCzbyj_zUUBf8wTL9be" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Cash, cash equivalents, restricted cash and restricted cash equivalents</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,869</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,305</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

6900000

3300000

154000

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets that total to the same amounts shown in the Consolidated Statements of Cash Flows. Schedule of Cash, Cash Equivalents and Restricted Cash <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250430_zUGZDa5dAY43" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240430_ztXfdeNcCUa6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_40D_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3_maCCERCzbyj_zPwciGsRxwEd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,715</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,151</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--RestrictedCashCurrent_iI_pn3n3_maCCERCzbyj_zm7E28Ebyp12" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Restricted cash- short-term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RestrictedCashNoncurrent_iI_pn3n3_maCCERCzbyj_zwipqx1q5Mmi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Restricted cash- long-term</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">154</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">154</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_iTI_pn3n3_mtCCERCzbyj_zUUBf8wTL9be" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Cash, cash equivalents, restricted cash and restricted cash equivalents</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,869</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,305</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

6715000

3151000

154000

6869000

3305000

(f) Inventory In accordance with Accounting Standards Codification 330 (ASC 330), inventory is stated at the lower of cost or net realizable value applicable to goods on hand. Items remain in inventory until they are shipped to the customer, at which time the costs are transferred on a FIFO basis to cost of revenues, or moved to leased assets as applicable, following the matching principle where costs and revenues are recognized in the same period. The Company has three classes of inventory; raw materials, work in process, and finished goods.

(g) Accounts Receivable Accounts receivable are stated at the net amount expected to be collected. Amounts are usually due between 30 and 90 days after the invoice issuance. The Company is exposed to credit losses primarily on accounts receivable and contract assets related to sales to customers. If applicable, an allowance for credit losses is established to provide for the expected lifetime credit losses by evaluating factors such as customer creditworthiness, historical payment and loss experiences, current economic conditions (including geographic and political risk), and the age and status of outstanding receivables. Based on these factors, management has established the allowance for credit losses of approximately $100,000. Expected credit losses are written off in the period in which the financial assets are no longer collectible. The Company grants credit to its customers, generally without collateral terms as long as the customer demonstrates the ability to make the payments. . Generally, invoicing occurs after the services are performed or control of the product has transferred to the customer. Accounts receivable represent an unconditional right to consideration arising from the Company’s performance under contracts with customers.

100000000

(h) Property and Equipment, net Property and equipment is stated at cost, less accumulated depreciation and amortization. Depreciation and amortization is calculated using the straight-line method over the estimated useful lives (3 three to ten years) of the assets. Leasehold improvements are amortized using the straight-line method over the shorter of the estimated useful life of the asset or the remaining lease term. Expenses for maintenance and repairs are charged to operations as incurred. Property and equipment is also reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of the asset exceeds its estimated future cash flows, then an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset. Schedule of Property and Equipment Estimated Useful Life <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%">Description</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%">Estimated useful life</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Equipment</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250430__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MinimumMember_zCUvr6qcxxr7" title="Property and equipment, useful life (Year)">5-<span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250430__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MaximumMember_zC2T7A7GSwI4" title="Property and equipment, useful life (Year)">7 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Computer equipment & software</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250430__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerEquipmentAndSoftwareMember_zQZQO800YvJa" title="Property and equipment, useful life (Year)">3 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Office furniture & fixtures</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250430__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OfficeFurnitureAndFixturesMember__srt--RangeAxis__srt--MinimumMember_zAoKuqTmSC7b" title="Property and equipment, useful life (Year)">3-<span id="xdx_904_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250430__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OfficeFurnitureAndFixturesMember__srt--RangeAxis__srt--MaximumMember_zePSf9nKJyTh" title="Property and equipment, useful life (Year)">7 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">Leasehold improvements</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentUsefulLifeDescriptionOfTermExtensibleEnumeration_iI_dxL_c20250430__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zq3sRoaWdDee" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23UsefulLifeTermOfLeaseMember">Shorter of the estimated useful life or lease term</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">Leased Power Buoy assets</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span id="xdx_90A_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250430__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LeasedPowerBuoysAssetsMember_zhdiB8HDSvd" title="Property and equipment, useful life (Year)">10 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">Leased WAM-V assets</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span id="xdx_90F_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250430__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LeasedAssetsMember_z9RP3p6XSq8a" title="Property and equipment, estimated useful life">10 years</td></tr> </table>

P3Y

P10Y

Schedule of Property and Equipment Estimated Useful Life <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%">Description</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%">Estimated useful life</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Equipment</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250430__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MinimumMember_zCUvr6qcxxr7" title="Property and equipment, useful life (Year)">5-<span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250430__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MaximumMember_zC2T7A7GSwI4" title="Property and equipment, useful life (Year)">7 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Computer equipment & software</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250430__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerEquipmentAndSoftwareMember_zQZQO800YvJa" title="Property and equipment, useful life (Year)">3 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Office furniture & fixtures</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250430__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OfficeFurnitureAndFixturesMember__srt--RangeAxis__srt--MinimumMember_zAoKuqTmSC7b" title="Property and equipment, useful life (Year)">3-<span id="xdx_904_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250430__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OfficeFurnitureAndFixturesMember__srt--RangeAxis__srt--MaximumMember_zePSf9nKJyTh" title="Property and equipment, useful life (Year)">7 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">Leasehold improvements</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentUsefulLifeDescriptionOfTermExtensibleEnumeration_iI_dxL_c20250430__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zq3sRoaWdDee" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23UsefulLifeTermOfLeaseMember">Shorter of the estimated useful life or lease term</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">Leased Power Buoy assets</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span id="xdx_90A_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250430__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LeasedPowerBuoysAssetsMember_zhdiB8HDSvd" title="Property and equipment, useful life (Year)">10 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">Leased WAM-V assets</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span id="xdx_90F_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250430__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LeasedAssetsMember_z9RP3p6XSq8a" title="Property and equipment, estimated useful life">10 years</td></tr> </table>

P5Y

P7Y

P3Y

P7Y

P10Y

<p id="xdx_84C_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_zizhmnd8Um3h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in">(i) Foreign Exchange Gains and Losses Transactions denominated in a foreign currency may result in realized and unrealized foreign exchange gains or losses from exchange rate fluctuations, which are included in “Foreign exchange gain” in the accompanying Consolidated Statements of Operations.

(j) Concentration of Credit Risk Financial instruments that potentially subject the Company to credit risk consist principally of trade accounts receivable and cash equivalents. The Company believes that its credit risk is limited because the Company’s current contracts are with entities with a reliable and predictable payment history. The Company invests its excess cash in a money market fund and does not believe that it is exposed to any significant risks related to its cash accounts, money market fund, or held-to-maturity investments. As of the year ended April 30, 2025 and 2024, the Company had three and four customers whose revenue accounted for at least 10% of the Company’s consolidated revenue, respectively. These customers accounted for approximately <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240501__20250430__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ThreeCustomersMember_zg4wB6XbWTjl" title="Concentration risk percentage">53% and <span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230501__20240430__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--FourCustomersMember_zBdRT09QPKrc" title="Concentration risk percentage">52% of the Company’s total revenue for the respective periods.

0.53

0.52

(k) Net Loss per Common Share Basic and diluted net loss per share for all periods presented is computed by dividing net loss by the weighted average number of shares of common stock and common stock equivalents outstanding during the period. Due to the Company’s net losses, potentially dilutive securities, consisting of options to purchase shares of common stock, warrants on common stock and unvested restricted stock units (“RSUs”) issued to employees and non-employee directors, were excluded from the diluted loss per share calculation due to their anti-dilutive effect. In computing diluted net loss per share on the Consolidated Statement of Operations, warrants on common stock, options to purchase shares of common stock and unvested RSUs issued to employees and non-employee directors, totaling <span id="xdx_905_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240501__20250430_zLYaPiSrl8Ej" title="Antidilutive securities excluded from computation of diluted net loss per share">24,929,864 and <span id="xdx_900_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20230501__20240430_zg9po8UwmcL5" title="Antidilutive securities excluded from computation of diluted net loss per share">5,859,072 for the years ended April 30, 2025 and 2024, respectively, were excluded from each of the computations as the effect would have been anti-dilutive due to the net loss for the periods. Share purchase rights, which include a contingency, are not included in the calculation until the contingency is resolved.

24929864

5859072

<p id="xdx_846_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zTbaFdUQdATk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in">(l) Share-Based Compensation Costs resulting from all share-based payment transactions are recognized in the consolidated financial statements at their fair values. The aggregate share-based compensation expense recorded in the Consolidated Statements of Operations for the years ended April 30, 2025 and 2024 was approximately $4.6 million and $1.2 million, respectively. The Company’s policy is to account for forfeitures of share-based compensation as they occur. Additionally, upon vesting of RSUs that were granted to an employee, the employee is given the option to either pay the taxes themselves, or have enough shares of their RSU award withheld by the Company to cover the taxes incurred by the employee. In the event the employee elects to surrender shares to cover the tax obligation, the Company maintains those shares in the Company’s treasury stock account. Forfeited shares held in the Company’s treasury stock account are not available for future RSU grants.

4600000

1200000

(m) Intangibles, net Intangible assets acquired in a business combination are recognized separately from goodwill and are initially recognized at their fair value at the acquisition date (which is regarded as their cost). Intangible assets, including patents, are amortized over the estimated useful life of the asset on a basis that approximates the pattern of economic benefit. The patents are being amortized over <span id="xdx_90A_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20250430__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zOcdCCnZkyi" title="Intangible asset estimated lives">20, <span id="xdx_90A_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20250430__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zpikEIcnLnjl" title="Intangible asset estimated lives">12 and <span id="xdx_900_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20250430__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zIBoSvqW3Ydl" title="Intangible asset estimated lives">10 years respectively, which is consistent with the estimated pattern of economic benefit of the assets. Prior to their disposal during the fiscal year ended April 30, 2024, trade-name and customer relationship intangibles were amortized over <span id="xdx_90F_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20240430__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_ziidZpNMYSab" title="Intangible asset estimated lives">20, <span id="xdx_900_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20240430__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zAZTW3BzV41g" title="Intangible asset estimated lives">12 and <span id="xdx_90A_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20240430__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zWUa47E1Ehl2" title="Intangible asset estimated useful life">10 years respectively The trademark is not subject to amortization. Intangible assets are reviewed for impairment if indicators of potential impairment exist. There was no indication of impairment of intangible assets for the fiscal years ended April 30, 2025 and April 30, 2024. However, in connection with the sale of 3Dent in November of 2023, the trade-name and customer relationships were both expensed fully during the year ended April 30, 2024 under Loss on disposition of assets on the Consolidated Statements of Operations.

P20Y

P12Y

P10Y

P20Y

P12Y

P10Y

(n) Goodwill Goodwill is assessed for impairment using a qualitative or quantitative approach. The Company performs an annual impairment test of goodwill and further periodic tests to the extent indicators of impairment develop between annual impairment tests. There were no indications of potential impairment of goodwill identified for the year ended April 30, 2025 and 2024. Where the Company uses a qualitative analysis, it considers factors that include historical financial performance, macroeconomic and industry conditions, and the legal and regulatory environment. If the qualitative assessment indicates that it is more likely than not that an impairment exists, then a quantitative assessment is also performed. The quantitative assessment requires an analysis of several estimates including future cash flows or income consistent with management’s strategic business plans, annual sales growth rates and the selection of assumptions underlying a discount rate (weighted average cost of capital) based on market data available at the time to determine fair value of the Company. If the fair value is less than the carrying amounts, an impairment charge for the difference is recorded. The Company acquired goodwill as part of its purchase of MAR. Management performed its annual qualitative assessment in fiscal year 2025 and 2024 and determined that it is more likely than not that no goodwill impairment existed as of April 30, 2025 and 2024.

(o) Income Taxes The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained upon examination. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest related to unrecognized tax benefits in interest expense and penalties in selling, general, and administrative expenses, to the extent incurred. Refer to Note 13 for additional disclosure. In order to monetize their attributes, the Company has historically sold the Net Operating Losses (NOL’s) generated in New Jersey. The Company has elected to recognize the gain on the sale as a component of tax expense at the time of the sale. Prior to the time of sale, the Company has elected to not factor the expected sales when assessing the realizability of the related deferred tax assets.

(p) Accumulated Other Comprehensive Loss The functional currency for the Company’s foreign operations is the applicable local currency. The translation from the applicable foreign currencies to U.S. dollars is performed for balance sheet accounts using the exchange rates in effect at the balance sheet date and for revenue and expense accounts using an average exchange rate during the period. The unrealized gains or losses resulting from such translation are included in Accumulated Other Comprehensive (Income) Loss within Shareholders’ Equity. For the year ended April 30, 2025 and 2024, there were no amounts recorded to other comprehensive (income) loss due to no longer having any foreign subsidiaries as of April 30, 2025. (q) Warranty The Company does not include a right of return on its products other than rights related to standard warranty provisions that permit repair or replacement of defective goods. Warranty expense incurred to date has not been material.

(r) Product development Costs related to research and development activities by the Company are expensed as incurred. The Company had approximately $3.6 million and $7.7 million in product development expense for the year ended April 30, 2025 and 2024, respectively. The year over year decrease related to the completion of the majority of research activities and a transition to a focus on development and enhancements to our existing products.

3600000

7700000

(s) Recent Accounting Standards Recently Issued Accounting Standards In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”), which improves the transparency of income tax disclosures by requiring companies to (1) disclose consistent categories and greater disaggregation of information in the effective rate reconciliation and (2) provide information on income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, although early adoption is permitted. The guidance should be applied on a prospective basis with the option to apply the standard retrospectively. We are currently evaluating the impact of adopting this ASU 2023-09 on our consolidated financial statements and disclosures. In November 2024, the FASB issued ASU No. 2024-3, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” This ASU improves the disclosures about a public business entity’s expenses and address requests from investors for more detailed information about the types of expenses in commonly presented expense captions. The new guidance is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. We are currently evaluating what the potential impact of adopting this ASU 2024-03 could have on our consolidated financial statements and disclosures Recently Adopted Accounting Standards In November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” This ASU improves financial reporting by requiring disclosure of incremental segment information. The new guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company adopted this standard beginning in fiscal 2025 and all required segment related disclosures will be presented within this Form 10-K and in subsequent interim reports on Form 10-Q. Refer to Note 15 for further discussion.

(t) Reclassifications Certain amounts may have been reclassified to conform to the current period’s presentation. This reclassification had no impact on the previously reported net loss or comprehensive loss.

(3) Account Receivable, Contract Assets, and Contract Liabilities Accounts Receivable <p id="xdx_899_ecustom--ScheduleOfAccountsReceivableContractAssetsAndContractLiabilitiesTableTextBlock_zb3s4EeN0EYa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The following provides further details on the balance sheet accounts of accounts receivable, contract assets and contract liabilities from contracts with customers: Schedule of Accounts Receivable, Contract Assets and Contract Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250430_zbS21sa0a9B1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240430_zBxBoPrsq7e9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20230430_zaOQGssZCtcc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fiscal year ended April 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="10" style="text-align: center">(in thousands)</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_405_eus-gaap--AccountsReceivableNetCurrent_iI_pn3n3_zIwnFJ3MXfs6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Accounts receivable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,191</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">796</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">745</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--ContractWithCustomerAssetNetCurrent_iI_pn3n3_zI8XxmHc4vY3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Contract assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,088</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">152</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--ContractWithCustomerLiabilityCurrent_iI_pn3n3_zjFkxxKuJ99b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Contract liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">302</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,378</td><td style="text-align: left"> </td></tr> </table> Contract Assets Significant changes in the contract assets balances during the period are as follows: Schedule of Significant Changes in Contract Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20240501__20250430_zmkNdjBjGGP8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20230501__20240430_z41IfGAcwB8i" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fiscal year ended April 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40A_eus-gaap--ContractWithCustomerAssetReclassifiedToReceivable_pn3n3_maIDICWzkNJ_zy1J21vLoI57" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Transferred to receivables from contract assets recognized</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(768</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(1,879</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40E_ecustom--RevenueRecognizedAndNotBilled_pn3n3_maIDICWzkNJ_zDYcbK4ScMtd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Revenue recognized and not billed</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,838</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,745</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--IncreaseDecreaseInContractWithCustomerAsset_iT_pn3n3_mtIDICWzkNJ_zLx3QRyPTJGf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net change in contract assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,070</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(134</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> Contract assets include unbilled amounts typically resulting from arrangements whereby the right to payment is conditional on completing additional tasks or services for a performance obligation. The increase in contract assets from the prior year is primarily a result of consulting services projects for which revenue was recognized in the prior year yet billed in the current year including two Bill-and-Hold agreements for $529,000. No impairments to contract assets were incurred during the fiscal years ended April 30, 2025 and 2024, respectively. Contract Liabilities Significant changes in the contract liabilities balances during the period are as follows: Schedule of Significant Changes in Contract Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20240501__20250430_zSr5OFj2NOQc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20230501__20240430_zz8T2PSfQBBj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fiscal year ended April 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40A_ecustom--ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance_iN_pn3n3_di_msIDICWz3fD_zlndk8aZRxIl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Revenue recognized</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(2,107</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(2,424</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40E_ecustom--PaymentsCollectedForWhichRevenueHasNotBeenRecognized_pn3n3_maIDICWz3fD_zOv8YpDRnhg6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Payments collected for which revenue has not been recognized</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,805</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,348</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--IncreaseDecreaseInContractWithCustomerLiability_iT_pn3n3_mtIDICWz3fD_zPUqpcyTNlBe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net change in contract liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(302</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,076</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> Contract liabilities consist of amounts invoiced to and collected from customers in excess of revenue recognized. The decrease in contract liabilities from April 30, 2024 is primarily due to recognizing revenue on the DOE Phase II contract for which the Company was paid in prior periods. <p id="xdx_899_ecustom--ScheduleOfAccountsReceivableContractAssetsAndContractLiabilitiesTableTextBlock_zb3s4EeN0EYa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The following provides further details on the balance sheet accounts of accounts receivable, contract assets and contract liabilities from contracts with customers: Schedule of Accounts Receivable, Contract Assets and Contract Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250430_zbS21sa0a9B1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240430_zBxBoPrsq7e9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20230430_zaOQGssZCtcc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fiscal year ended April 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="10" style="text-align: center">(in thousands)</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_405_eus-gaap--AccountsReceivableNetCurrent_iI_pn3n3_zIwnFJ3MXfs6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Accounts receivable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,191</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">796</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">745</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--ContractWithCustomerAssetNetCurrent_iI_pn3n3_zI8XxmHc4vY3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Contract assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,088</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">152</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--ContractWithCustomerLiabilityCurrent_iI_pn3n3_zjFkxxKuJ99b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Contract liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">302</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,378</td><td style="text-align: left"> </td></tr> </table>

1191000

796000

745000

1088000

18000

152000

302000

1378000

Significant changes in the contract assets balances during the period are as follows: Schedule of Significant Changes in Contract Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20240501__20250430_zmkNdjBjGGP8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20230501__20240430_z41IfGAcwB8i" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fiscal year ended April 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40A_eus-gaap--ContractWithCustomerAssetReclassifiedToReceivable_pn3n3_maIDICWzkNJ_zy1J21vLoI57" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Transferred to receivables from contract assets recognized</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(768</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(1,879</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40E_ecustom--RevenueRecognizedAndNotBilled_pn3n3_maIDICWzkNJ_zDYcbK4ScMtd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Revenue recognized and not billed</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,838</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,745</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--IncreaseDecreaseInContractWithCustomerAsset_iT_pn3n3_mtIDICWzkNJ_zLx3QRyPTJGf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net change in contract assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,070</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(134</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

-768000

-1879000

1838000 1745000

1070000

-134000

529000

Significant changes in the contract liabilities balances during the period are as follows: Schedule of Significant Changes in Contract Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20240501__20250430_zSr5OFj2NOQc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20230501__20240430_zz8T2PSfQBBj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fiscal year ended April 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40A_ecustom--ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance_iN_pn3n3_di_msIDICWz3fD_zlndk8aZRxIl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Revenue recognized</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(2,107</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(2,424</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40E_ecustom--PaymentsCollectedForWhichRevenueHasNotBeenRecognized_pn3n3_maIDICWz3fD_zOv8YpDRnhg6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Payments collected for which revenue has not been recognized</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,805</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,348</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--IncreaseDecreaseInContractWithCustomerLiability_iT_pn3n3_mtIDICWz3fD_zPUqpcyTNlBe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net change in contract liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(302</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,076</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> 2107000 2424000 1805000 1348000

-302000

-1076000

(4) Inventory The Company holds inventory related to the production of our products. Schedule of Inventory <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20250430_zJoVZ7rJPbjb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240430_zJ21bFNfgkEk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_40A_eus-gaap--InventoryRawMaterials_iI_pn3n3_maINzERb_zdY1DKKgE5zl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Raw Materials</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,586</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,298</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--InventoryWorkInProcess_iI_pn3n3_maINzERb_zDli5NP2lTdh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Work in Process</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">636</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">397</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--InventoryFinishedGoods_iI_pn3n3_maINzERb_z7VDvvZ0ifv2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Finished Goods</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">136</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--InventoryNet_iTI_pn3n3_mtINzERb_zl1EAe096TEj" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Inventory, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,222</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,831</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The Company’s raw materials balance represents the majority of the inventory as the Company orders parts in quantity to fill orders. Work in process and finished products typically represent smaller portions of inventory as the Company does not historically hold finished products with the exception of assets transitioning to the lease fleet or to be shipped to a customer. The Company typically ships finished products as they are completed.

The Company holds inventory related to the production of our products. Schedule of Inventory <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20250430_zJoVZ7rJPbjb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240430_zJ21bFNfgkEk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_40A_eus-gaap--InventoryRawMaterials_iI_pn3n3_maINzERb_zdY1DKKgE5zl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Raw Materials</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,586</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,298</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--InventoryWorkInProcess_iI_pn3n3_maINzERb_zDli5NP2lTdh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Work in Process</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">636</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">397</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--InventoryFinishedGoods_iI_pn3n3_maINzERb_z7VDvvZ0ifv2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Finished Goods</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">136</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--InventoryNet_iTI_pn3n3_mtINzERb_zl1EAe096TEj" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Inventory, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,222</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,831</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

3586000

4298000

636000

397000

136000

4222000

4831000

(5) Other Current Assets Other current assets consist of the following at April 30, 2025 and 2024: Schedule of Other Current Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250430_z4FRIHIrUT53" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240430_zdQY0CCdFDH3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_408_eus-gaap--PrepaidInsurance_iI_maCzWjX_zLzSg2pOwyD9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Prepaid insurance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">80</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">202</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--PrepaidSoftwareAndLicenses_iI_maCzWjX_zkPtpEoMg2nk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid software & licenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">68</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">224</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--PrepaidSalesAndMarketing_iI_maCzWjX_zjL7JQ5rSy41" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid sales & marketing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">90</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">124</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--PrepaidProjectCosts_iI_maCzWjX_zXodNlE4ping" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid project costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">578</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--PrepaidInventoryMaterials_iI_maCzWjX_zMhBMD7a9Ucb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid inventory materials</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">414</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OtherPrepaidExpenseCurrent_iI_maCzWjX_zZOKzUvqVk1c" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Prepaid expenses- other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">126</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">205</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OtherAssetsCurrent_iTI_mtCzWjX_z2oZSzH8b682" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total other current assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">400</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,747</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Other current assets consist of the following at April 30, 2025 and 2024: Schedule of Other Current Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250430_z4FRIHIrUT53" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240430_zdQY0CCdFDH3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_408_eus-gaap--PrepaidInsurance_iI_maCzWjX_zLzSg2pOwyD9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Prepaid insurance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">80</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">202</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--PrepaidSoftwareAndLicenses_iI_maCzWjX_zkPtpEoMg2nk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid software & licenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">68</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">224</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--PrepaidSalesAndMarketing_iI_maCzWjX_zjL7JQ5rSy41" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid sales & marketing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">90</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">124</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--PrepaidProjectCosts_iI_maCzWjX_zXodNlE4ping" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid project costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">578</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--PrepaidInventoryMaterials_iI_maCzWjX_zMhBMD7a9Ucb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid inventory materials</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">414</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OtherPrepaidExpenseCurrent_iI_maCzWjX_zZOKzUvqVk1c" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Prepaid expenses- other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">126</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">205</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OtherAssetsCurrent_iTI_mtCzWjX_z2oZSzH8b682" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total other current assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">400</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,747</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

80000

202000

68000 224000 90000 124000 36000 578000 414000

126000

205000

400000

1747000

(6) Property and Equipment The components of property and equipment as of April 30, 2025 and 2024 consisted of the following: Schedule of Components of Property and Equipment, Net <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20250430_z6THtYiLutI9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240430_zn2GnncbC6zb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zlIQHUrRHFS" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,569</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,530</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerEquipmentAndSoftwareMember_zeWXCKRW46z4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Computer equipment & software</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">620</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">790</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OfficeFurnitureAndEquipmentMember_zixBfrm24JI7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Office furniture & equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">425</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">422</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zuhcI9623xae" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Leasehold improvements</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">683</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">683</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LeasedWAMVsMember_zsUwmcteCtPh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Leased WAM-V’s</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,735</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,547</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LeasedBuoysMember_zToadS6d0xXc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Leased Buoys</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">949</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">444</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_maPPAENzI8F_z2XDtdmP0hTk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Property and equipment, gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,981</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,416</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_msPPAENzI8F_z1nX6nNq5Stf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,537</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,973</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pn3n3_mtPPAENzI8F_zD4svMFgZ3X8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Property and equipment, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,444</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,443</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Leased WAM-V’s represent fixed assets that are associated with underlying operating leases with customers as discussed in revenue recognition section related to ASC 842 (see footnote 1(d) Revenue Recognition). Depreciation expense was approximately $771,000 and $420,000 for years ended April 30, 2025 and 2024, respectively. Additionally, the Company disposed of $170,000 in fully depreciated assets that were no longer in use as of April 30, 2025.

The components of property and equipment as of April 30, 2025 and 2024 consisted of the following: Schedule of Components of Property and Equipment, Net <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20250430_z6THtYiLutI9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240430_zn2GnncbC6zb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zlIQHUrRHFS" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,569</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,530</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerEquipmentAndSoftwareMember_zeWXCKRW46z4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Computer equipment & software</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">620</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">790</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OfficeFurnitureAndEquipmentMember_zixBfrm24JI7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Office furniture & equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">425</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">422</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zuhcI9623xae" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Leasehold improvements</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">683</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">683</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LeasedWAMVsMember_zsUwmcteCtPh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Leased WAM-V’s</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,735</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,547</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LeasedBuoysMember_zToadS6d0xXc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Leased Buoys</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">949</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">444</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_maPPAENzI8F_z2XDtdmP0hTk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Property and equipment, gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,981</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,416</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_msPPAENzI8F_z1nX6nNq5Stf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,537</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,973</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pn3n3_mtPPAENzI8F_zD4svMFgZ3X8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Property and equipment, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,444</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,443</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1569000

1530000

620000

790000

425000

422000

683000

1735000

1547000

949000

444000

5981000

5416000

2537000

1973000

3444000

3443000

771000

420000

170000

(7) Intangible Assets The components of intangible assets, net as of April 30, 2025 and 2024 consisted of the following: Schedule of Components of Intangible Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20250430_zaj28dBppQyg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240430_zqSqbY69cba9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedPatentsGross_iI_pn3n3_maFLIAGzcoU_zBPe4wtdnNWi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Patents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,729</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,729</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FiniteLivedTrademarksGross_iI_pn3n3_maFLIAGzcoU_zYGmudYr6km9" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Trademarks</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,769</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,769</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FiniteLivedIntangibleAssetsGross_iTI_pn3n3_mtFLIAGzcoU_maFLIANzod8_zOcWgHiS7qD" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Intangible assets, gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,498</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,498</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_msFLIANzod8_z51jVpzsO2Pl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Accumulated amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,008</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,876</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pn3n3_mtFLIANzod8_zfM0lbCJY9fh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Intangible assets, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,490</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,622</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Amortization expense was approximately $132,000 and $148,000 for the years ended April 30, 2025 and 2024, respectively. Trademarks are not subject to amortization. Additionally, in connection with the sale of 3Dent in November of 2023, the trade-name and customer relationships were both expensed fully during the fiscal year ended April 30, 2024 under Loss on disposition of assets on the Consolidated Statements of Operations.

The components of intangible assets, net as of April 30, 2025 and 2024 consisted of the following: Schedule of Components of Intangible Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20250430_zaj28dBppQyg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240430_zqSqbY69cba9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedPatentsGross_iI_pn3n3_maFLIAGzcoU_zBPe4wtdnNWi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Patents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,729</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,729</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FiniteLivedTrademarksGross_iI_pn3n3_maFLIAGzcoU_zYGmudYr6km9" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Trademarks</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,769</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,769</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FiniteLivedIntangibleAssetsGross_iTI_pn3n3_mtFLIAGzcoU_maFLIANzod8_zOcWgHiS7qD" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Intangible assets, gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,498</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,498</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_msFLIANzod8_z51jVpzsO2Pl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Accumulated amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,008</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,876</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pn3n3_mtFLIANzod8_zfM0lbCJY9fh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Intangible assets, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,490</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,622</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

2729000

2769000

5498000

2008000

1876000

3490000

3622000

132000

148000

(8) Goodwill Goodwill in the amount of $8.5 million was recognized in November 2021 related to the acquisition of MAR. There have been no additions to or impairment of goodwill during the years ended April 30, 2025 and 2024.

8500000

(9) Leases Lessor Information As of April 30, 2025 and 2024, the Company had three and five WAM-V’s, respectively, leased to customers which have been classified as operating leases per accounting guidance contained within ASC Topic 842, “Leases”, respectively. The remaining term on these operating leases is less than 2 years. Lessee Information Right-of-use assets and operating lease liabilities are recognized based on the present value of future minimum lease payments over the lease term at commencement date. When the implicit rate of the lease is not provided or cannot be determined, the Company uses the incremental borrowing rate based on the information available at the effective date to determine the present value of future payments. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise those options. The renewal options have not been included in the lease term as they are not reasonably certain of exercise. The Company’s operating leases consist of leases for office facilities and warehouse space. Lease expense for minimum lease payments is recognized on a straight- line basis over the lease term and consists of interest on the lease liability and the amortization of the right of use asset. The Company has a lease for its facility located in Monroe Township, New Jersey that is used as warehouse/production space and the Company’s principal offices and corporate headquarters. In February 2024, the Company extended the lease for its main headquarters in Monroe, NJ to April 30, 2026 and it was executed and recorded as an additional right of use asset and liability. The lease is classified as an operating lease and is included in right-of-use assets, right-of-use liabilities – current, and right-of-use liabilities- long-term on the Company’s Consolidated Balance Sheets. The Company also has a lease for office space located in Richmond, California. This lease commenced in April of 2023 and will continue for 62 months. The lease is classified as an operating lease and is included in right-of-use assets, right-of-use liabilities- current and right-of-use liabilities- long-term on the Company’s Consolidated Balance Sheets. Variable lease expenses, if any, are recorded as incurred. The operating lease expense in the Consolidated Statement of Operations was $1.0 million and $0.7 million for the fiscal year ended April 30, 2025 and 2024, respectively. The operating lease cash flow payments for the year ended April 30, 2025 and 2024 were $994,000 and $745,000, respectively. The components of lease expense in the Consolidated Statement of Operations for the fiscal year ended April 30, 2025 and 2024 was as follows: Schedule of Operating Lease Costs <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20240501__20250430_zQl9usEHxhb5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20230501__20240430_zM4OZa1dRSMb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fiscal year ended April 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseCost_pn3n3_maLCzBwM_zhiLzEWCJSs1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Operating lease cost</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,038</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">640</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ShortTermLeaseCost_pn3n3_maLCzBwM_zSmdmYwOQZWi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Short-term lease cost</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">32</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">68</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LeaseCost_iT_pn3n3_mtLCzBwM_zNDWHgSiuYi8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease cost</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,070</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">708</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_899_ecustom--ScheduleOfRightofUseAssetsAndLeaseLiabilitiesTableTextBlock_zWW9zEIn4URd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">Information related to the Company’s right-of use assets and lease liabilities as of April 30, 2025 is as follows: Schedule of Right-of use Assets and Lease Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_499_20250430_zJmMOeyw6dA9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">(in thousands)</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-decoration: underline; text-align: left">Operating lease:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_zngYNfZaw9Qf" style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left; padding-bottom: 1pt">Operating right-of-use assets, net</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 18%; text-align: right">1,552</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pn3n3_maOLLzIil_zDefjKkTAAr7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Right-of-use liabilities- current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,150</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pn3n3_maOLLzIil_zbR0D9ekvWYf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Right-of-use liabilities- long-term</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">649</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OperatingLeaseLiability_iTI_pn3n3_mtOLLzIil_zKMX1ca742m6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,799</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Weighted average remaining lease term- operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.10 years</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Weighted average discount rate- operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.4</td><td style="text-align: left">%</td></tr> </table> Total remaining lease payments under the Company’s operating leases are as follows: Schedule of Future Minimum Lease Payments Under Operating Lease <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250430_zhE2vQxPltsk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">(in thousands)</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maLOLLPzbOq_z9UdVmvK5l7a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: justify">2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">1,847</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_maLOLLPzbOq_zPVIJe5pfjhl" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">329</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_maLOLLPzbOq_zY38k002ZXLl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">333</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_maLOLLPzbOq_z8SH80UBgv5k" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour_iI_pn3n3_maLOLLPzbOq_zk7OrOMDcDU6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: justify">Thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_mtLOLLPzbOq_z8BUIP9jEf5a" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total future minimum lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,537</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_z7z2udU1nxfk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: justify">Less imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(738</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--OperatingLeaseLiability_iI_pn3n3_zblzRaXpl0t7" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; text-align: justify">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,799</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

P2Y

This lease commenced in April of 2023 and will continue for 62 months.

1000000.0

700000

994000

745000

The components of lease expense in the Consolidated Statement of Operations for the fiscal year ended April 30, 2025 and 2024 was as follows: Schedule of Operating Lease Costs <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20240501__20250430_zQl9usEHxhb5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20230501__20240430_zM4OZa1dRSMb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fiscal year ended April 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseCost_pn3n3_maLCzBwM_zhiLzEWCJSs1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Operating lease cost</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,038</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">640</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ShortTermLeaseCost_pn3n3_maLCzBwM_zSmdmYwOQZWi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Short-term lease cost</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">32</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">68</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LeaseCost_iT_pn3n3_mtLCzBwM_zNDWHgSiuYi8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease cost</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,070</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">708</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1038000

640000

32000

68000

1070000

708000

<p id="xdx_899_ecustom--ScheduleOfRightofUseAssetsAndLeaseLiabilitiesTableTextBlock_zWW9zEIn4URd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">Information related to the Company’s right-of use assets and lease liabilities as of April 30, 2025 is as follows: Schedule of Right-of use Assets and Lease Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_499_20250430_zJmMOeyw6dA9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">(in thousands)</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-decoration: underline; text-align: left">Operating lease:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_zngYNfZaw9Qf" style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left; padding-bottom: 1pt">Operating right-of-use assets, net</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 18%; text-align: right">1,552</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pn3n3_maOLLzIil_zDefjKkTAAr7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Right-of-use liabilities- current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,150</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pn3n3_maOLLzIil_zbR0D9ekvWYf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Right-of-use liabilities- long-term</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">649</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OperatingLeaseLiability_iTI_pn3n3_mtOLLzIil_zKMX1ca742m6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,799</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Weighted average remaining lease term- operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.10 years</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Weighted average discount rate- operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.4</td><td style="text-align: left">%</td></tr> </table>

1552000

1150000

649000

1799000

P2Y1M6D

0.084

Total remaining lease payments under the Company’s operating leases are as follows: Schedule of Future Minimum Lease Payments Under Operating Lease <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250430_zhE2vQxPltsk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">(in thousands)</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maLOLLPzbOq_z9UdVmvK5l7a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: justify">2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">1,847</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_maLOLLPzbOq_zPVIJe5pfjhl" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">329</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_maLOLLPzbOq_zY38k002ZXLl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">333</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_maLOLLPzbOq_z8SH80UBgv5k" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour_iI_pn3n3_maLOLLPzbOq_zk7OrOMDcDU6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: justify">Thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_mtLOLLPzbOq_z8BUIP9jEf5a" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total future minimum lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,537</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_z7z2udU1nxfk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: justify">Less imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(738</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--OperatingLeaseLiability_iI_pn3n3_zblzRaXpl0t7" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; text-align: justify">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,799</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1847000

329000

333000

28000

2537000

738000

1799000

(10) Accrued Expenses Accrued expenses consisted of the following at April 30, 2025 and 2024: Schedule of Accrued Expenses <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250430_zXYawl6mgwT" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20240430_zBX0mCMiMYp" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_40E_eus-gaap--OtherEmployeeRelatedLiabilitiesCurrent_iI_pn3n3_maCzsTG_zlWHVgppsujb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Employee incentive payments</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">759</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,271</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AccruedSalariesCurrent_iI_pn3n3_maCzsTG_zG2kLoZ5yEth" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued salary and benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">417</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">369</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_pn3n3_maCzsTG_z6ygNmXBjyAl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">95</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">147</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AccruedLiabilitiesCurrent_iTI_pn3n3_mtCzsTG_zCsmz0muWKY4" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Accrued expenses total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,271</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,787</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Accrued expenses consisted of the following at April 30, 2025 and 2024: Schedule of Accrued Expenses <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250430_zXYawl6mgwT" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20240430_zBX0mCMiMYp" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_40E_eus-gaap--OtherEmployeeRelatedLiabilitiesCurrent_iI_pn3n3_maCzsTG_zlWHVgppsujb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Employee incentive payments</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">759</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,271</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AccruedSalariesCurrent_iI_pn3n3_maCzsTG_zG2kLoZ5yEth" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued salary and benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">417</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">369</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_pn3n3_maCzsTG_z6ygNmXBjyAl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">95</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">147</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AccruedLiabilitiesCurrent_iTI_pn3n3_mtCzsTG_zCsmz0muWKY4" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Accrued expenses total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,271</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,787</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

759000

1271000

417000

369000

95000

147000

1271000

1787000

(11) Share-Based Compensation Plans In 2015, upon approval by the Company’s shareholders, the Company’s 2015 Omnibus Incentive Plan (the “2015 Plan”) became effective. A total of <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pid_c20151231__us-gaap--PlanNameAxis__custom--TwoThousandAndFifteenOmnibusIncentivePlanMember_zThiU5pmJWMg" title="Share-based compensation arrangement shares authorized">1,332,036 shares were authorized for issuance under the 2015 Omnibus Incentive Plan, including shares available for awards under the 2006 Stock Incentive Plan remaining at the time that plan terminated, or that were subject to awards under the 2006 Stock Incentive Plan that thereafter terminated by reason of expiration, forfeiture, cancellation or otherwise. If any award under the 2006 Stock Incentive Plan or 2015 Plan expires, is cancelled, terminates unexercised or is forfeited, those shares become again available for grant under the 2015 Plan. Most recently in January 2025, the shareholders approved an amendment and restatement of the 2015 Plan to, among other things, provide an aggregate increase to the 2015 Plan of <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized_c20250101__20250131__us-gaap--PlanNameAxis__custom--TwoThousandAndFifteenOmnibusIncentivePlanMember_zs8c41dScY56" title="Share-based compensation arrangement shares authorized increase">20,000,000 shares resulting in total shares authorized for issuance of <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pid_c20250430__us-gaap--PlanNameAxis__custom--TwoThousandAndFifteenOmnibusIncentivePlanMember_zQI0i33CYaea" title="Share-based compensation arrangement shares authorized">27,282,036 as of April 30, 2025, based on <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pid_c20250101__us-gaap--PlanNameAxis__custom--TwoThousandAndFifteenOmnibusIncentivePlanMember_zLuMsPGC4zU4" title="Share-based compensation arrangement shares authorized">7,282,036 available before the amendment. The 2015 Plan will now terminate in January 2035, but is subject to earlier termination as provided in the 2015 Plan. On January 18, 2018, the Company’s Board of Directors adopted the Company’s Employment Inducement Incentive Award Plan (the “2018 Inducement Plan”) pursuant to which the Company reserved <span id="xdx_901_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20180118__us-gaap--PlanNameAxis__custom--TwoThousandAndEighteenInducementPlanMember_zEilfnRnvBX1" title="Reserved for future issuance">25,000 shares of common stock for issuance under the Inducement Plan in accordance with Rule 711(a) of the NYSE American Company Guide. On February 9, 2022, the 2018 Inducement Plan was amended to increase the authorized shares by <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized_pid_c20220209__20220209__us-gaap--PlanNameAxis__custom--TwoThousandAndEighteenInducementPlanMember_zcFOUQhlP6gh" title="Share-based compensation arrangement shares authorized increase">250,000 to <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pid_c20220209__us-gaap--PlanNameAxis__custom--TwoThousandAndEighteenInducementPlanMember_zmORyJHAAmBc">275,000. Stock Options The Company estimates the fair value of each stock option award granted with service-based vesting requirements, using the Black-Scholes option pricing model, assuming no dividends, and using weighted average valuation assumptions. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant commensurate with the expected life of the award. The expected life (estimated period of time outstanding) of the stock options granted was estimated using the “simplified” method as permitted by the SEC’s Staff Accounting Bulletin No. 110, Share-Based Payment. Expected volatility is based on the Company’s historical volatility over the expected life of the stock option granted. The Company did not grant any stock options during the periods ended April 30, 2025 and 2024, respectively. <p id="xdx_89D_eus-gaap--ScheduleOfShareBasedCompensationActivityTableTextBlock_zHCuqms8i1Fj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">A summary of stock options under our Stock Incentive Plans is detailed in the following table. Schedule of Stock Option Activity <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Shares Underlying Options</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Remaining Contractual Term (In Years)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Outstanding as of April 30, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20240501__20250430_zoldvb97csBg" style="width: 14%; text-align: right" title="Shares Underlying Options Outstanding, Beginning">734,543</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20240501__20250430_zBYiMp495CHa" style="width: 14%; text-align: right" title="Weighted Average Exercise Price, Beginning balance">2.12</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20230501__20240430_z9nNU1P7eBei" title="Weighted Average Remaining Contractual Term (In Years), Beginning">7.6</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20240501__20250430_zPA3JFfotsO4" style="text-align: right" title="Shares underlying Options Outstanding, Granted">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20240501__20250430_z8qSskaCwtcd" style="text-align: right" title="Weighted Average Exercise Price, Granted">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_c20240501__20250430_z7Et6dmPNZff" style="text-align: right" title="Shares Underlying Options ,Exercised">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20240501__20250430_zBZwW0SmVa91" style="text-align: right" title="Weighted Average Exercise Price, Exercised">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Cancelled/forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_pid_di_c20240501__20250430_zGZjwZYIIgH6" style="text-align: right" title="Shares Underlying Options, Cancelled/forfeited">(251,201</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_pid_c20240501__20250430_zJsyvk3DhiHb" style="text-align: right" title="Weighted Average Exercise Price, Cancelled/forfeited">1.20</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; text-align: left">Outstanding as of April 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20240501__20250430_zk9VqLJeKmCc" style="border-bottom: Black 2.5pt double; text-align: right" title="Shares Underlying Options Outstanding, Ending">483,342</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20240501__20250430_zTaDW7eULVqj" style="padding-bottom: 2.5pt; text-align: right" title="Weighted Average Exercise Price, Ending balance">2.59</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"><span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240501__20250430_zzipzcsAP4e1" title="Weighted Average Remaining Contractual Term (In Years), Ending">6.3</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; text-align: left">Exercisable as of April 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_pid_c20250430_zi1EcFFiTqm1" style="border-bottom: Black 2.5pt double; text-align: right" title="Shares Underlying Options, Exercisable at Ending">425,440</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_pid_c20250430_zC9982PbolRa" style="padding-bottom: 2.5pt; text-align: right" title="Weighted Average Exercise Price, Exercisable at Ending">2.85</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"><span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20240501__20250430_zClSmSAmWZv" title="Weighted Average Remaining Contractual Term (In Years), Exercisable at Ending">6.1</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> As of April 30, 2025, the total intrinsic value of outstanding and exercisable options was <span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iI_pp0p0_dc_c20250430__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zfkWgzPsc7t3" title="Intrinsic value of exercisable options">zero. As of April 30, 2025, approximately <span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_iI_pid_c20250430__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zW7DZA0kvPJk" title="Options unvested">58,000 additional options were unvested, which had an intrinsic value of <span id="xdx_900_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedIntrinsicValue_iI_pp0p0_dc_c20250430__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_znO2a40vtac" title="Unvested options intrinsic value">zero and a weighted average remaining contractual term of <span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1_pid_dtY_c20240501__20250430__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zKsaAiAQvIX1" title="Weighted average remaining contractual term">7.7 years. There was approximately $<span id="xdx_900_eus-gaap--AllocatedShareBasedCompensationExpense_c20240501__20250430__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_znREBF9RHj25" title="Share-based payment arrangement, expense">47,000 and $<span id="xdx_906_eus-gaap--AllocatedShareBasedCompensationExpense_c20230501__20240430__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zOSYUPuwQeN" title="Share-based payment arrangement, expense">82,000 of total recognized compensation cost related to stock options during each of the fiscal year ended April 30, 2025 and 2024, respectively. As of April 30, 2025, there was approximately $<span id="xdx_903_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions_iI_c20250430__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zWQ6CZbMbDnh" title="Unrecognized compensation cost related to non-vested stock">26,000 of total unrecognized compensation cost related to non-vested stock options granted under the plans. This cost is expected to be recognized over a weighted-average period of <span id="xdx_90F_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20240501__20250430__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zq5dQVqToUXc" title="Share-based compensation of weighted-average period">0.7 years. Performance Stock Options As of April 30, 2025 and 2024 there were no performance stock units outstanding. Restricted Stock Units Compensation expense for restricted stock units (“RSUs”) is generally recorded based on the market value on the date of grant and recognized ratably over the associated service and performance period. During the years ended April 30, 2025 and 2024, the Company granted <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_dc_c20240501__20250430__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_z3q6tKL0et2g" title="Number of restricted shares, granted">21,079,453 and <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20230501__20240430__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_z8H6tpCldkz7" title="Number of restricted shares, granted">4,439,257 shares, respectively, subject to service-based, performance, and market condition vesting requirements. <p id="xdx_899_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_zaGZJd9i6Lb7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in">A summary of unvested restricted stock units under our stock incentive plans is as follows: Schedule of Non-vested Restricted Stock Activity <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of Shares</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Price per Share</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Issued and unvested at April 30, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pid_c20240501__20250430__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zrH1ReVMnWA2" style="width: 16%; text-align: right" title="Number of Shares, Issued and unvested, Beginning">5,124,529</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20240501__20250430__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zjr1xBR3clAk" style="width: 16%; text-align: right" title="Weighted Average Price per Share, Issued and unvested, Beginning">0.38</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20240501__20250430__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zyeHIOo4H5hh" style="text-align: right" title="Number of Shares, Unvested, Granted/Adjusted">21,079,453</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20240501__20250430__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_z41qDEjLjsM9" style="text-align: right" title="Weighted Average Price per Share, Granted/Adjusted">0.99</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vested and issued</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pid_di_c20240501__20250430__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zANKutoOZaR3" style="text-align: right" title="Number of Shares, Unvested, Vested and issued">(2,964,280</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Cancelled/forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pid_di_c20240501__20250430__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zL3cNza18Nge" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Shares, Cancelled/forfeited">(778,069</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20240501__20250430__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_z1zOz6lBe3Yj" style="padding-bottom: 1pt; text-align: right" title="Weighted Average Price per Share, Cancelled/forfeited">0.30</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Issued and unvested at April 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pid_c20240501__20250430__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zXFRxIv3F6Ga" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Shares, Issued and unvested, Ending">22,461,633</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20240501__20250430__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zgoyfxk287Ak" style="padding-bottom: 2.5pt; text-align: right" title="Weighted Average Price per Share, Issued and unvested, Ending">0.90</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> There was approximately $<span id="xdx_903_eus-gaap--AllocatedShareBasedCompensationExpense_pn5n6_c20240501__20250430__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zXA32F3peHN1" title="Share-based payment arrangement, expense">4.6 million and $<span id="xdx_90D_eus-gaap--AllocatedShareBasedCompensationExpense_pn5n6_c20230501__20240430__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zXvBXpvFz2jg" title="Share-based payment arrangement, expense">1.0 million of total recognized compensation cost related to restricted stock units for the years ended April 30, 2025 and 2024, respectively. As of April 30, 2025, there was $<span id="xdx_906_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions_iI_pn5n6_c20250430__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zipRq0ibnxN6" title="Unrecognized compensation cost">15.2 million of unrecognized compensation cost remaining related to unvested restricted stock granted under our plans. This cost is expected to be recognized over a weighted-average period of <span id="xdx_90E_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20240501__20250430__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zv5NpPLGlDz1" title="Share-based compensation of weighted-average period">1.6 years.

1332036

20000000

27282036

7282036

25000

250000

275000

<p id="xdx_89D_eus-gaap--ScheduleOfShareBasedCompensationActivityTableTextBlock_zHCuqms8i1Fj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">A summary of stock options under our Stock Incentive Plans is detailed in the following table. Schedule of Stock Option Activity <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Shares Underlying Options</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Remaining Contractual Term (In Years)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Outstanding as of April 30, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20240501__20250430_zoldvb97csBg" style="width: 14%; text-align: right" title="Shares Underlying Options Outstanding, Beginning">734,543</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20240501__20250430_zBYiMp495CHa" style="width: 14%; text-align: right" title="Weighted Average Exercise Price, Beginning balance">2.12</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20230501__20240430_z9nNU1P7eBei" title="Weighted Average Remaining Contractual Term (In Years), Beginning">7.6</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20240501__20250430_zPA3JFfotsO4" style="text-align: right" title="Shares underlying Options Outstanding, Granted">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20240501__20250430_z8qSskaCwtcd" style="text-align: right" title="Weighted Average Exercise Price, Granted">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_c20240501__20250430_z7Et6dmPNZff" style="text-align: right" title="Shares Underlying Options ,Exercised">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20240501__20250430_zBZwW0SmVa91" style="text-align: right" title="Weighted Average Exercise Price, Exercised">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Cancelled/forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_pid_di_c20240501__20250430_zGZjwZYIIgH6" style="text-align: right" title="Shares Underlying Options, Cancelled/forfeited">(251,201</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_pid_c20240501__20250430_zJsyvk3DhiHb" style="text-align: right" title="Weighted Average Exercise Price, Cancelled/forfeited">1.20</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; text-align: left">Outstanding as of April 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20240501__20250430_zk9VqLJeKmCc" style="border-bottom: Black 2.5pt double; text-align: right" title="Shares Underlying Options Outstanding, Ending">483,342</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20240501__20250430_zTaDW7eULVqj" style="padding-bottom: 2.5pt; text-align: right" title="Weighted Average Exercise Price, Ending balance">2.59</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"><span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240501__20250430_zzipzcsAP4e1" title="Weighted Average Remaining Contractual Term (In Years), Ending">6.3</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; text-align: left">Exercisable as of April 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_pid_c20250430_zi1EcFFiTqm1" style="border-bottom: Black 2.5pt double; text-align: right" title="Shares Underlying Options, Exercisable at Ending">425,440</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_pid_c20250430_zC9982PbolRa" style="padding-bottom: 2.5pt; text-align: right" title="Weighted Average Exercise Price, Exercisable at Ending">2.85</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"><span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20240501__20250430_zClSmSAmWZv" title="Weighted Average Remaining Contractual Term (In Years), Exercisable at Ending">6.1</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

734543

2.12

P7Y7M6D

251201

1.20

483342

2.59

P6Y3M18D

425440

2.85

P6Y1M6D

58000

P7Y8M12D

47000

82000

26000

P0Y8M12D

21079453

4439257

<p id="xdx_899_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_zaGZJd9i6Lb7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in">A summary of unvested restricted stock units under our stock incentive plans is as follows: Schedule of Non-vested Restricted Stock Activity <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of Shares</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Price per Share</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Issued and unvested at April 30, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pid_c20240501__20250430__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zrH1ReVMnWA2" style="width: 16%; text-align: right" title="Number of Shares, Issued and unvested, Beginning">5,124,529</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20240501__20250430__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zjr1xBR3clAk" style="width: 16%; text-align: right" title="Weighted Average Price per Share, Issued and unvested, Beginning">0.38</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20240501__20250430__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zyeHIOo4H5hh" style="text-align: right" title="Number of Shares, Unvested, Granted/Adjusted">21,079,453</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20240501__20250430__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_z41qDEjLjsM9" style="text-align: right" title="Weighted Average Price per Share, Granted/Adjusted">0.99</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vested and issued</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pid_di_c20240501__20250430__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zANKutoOZaR3" style="text-align: right" title="Number of Shares, Unvested, Vested and issued">(2,964,280</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Cancelled/forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pid_di_c20240501__20250430__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zL3cNza18Nge" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Shares, Cancelled/forfeited">(778,069</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20240501__20250430__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_z1zOz6lBe3Yj" style="padding-bottom: 1pt; text-align: right" title="Weighted Average Price per Share, Cancelled/forfeited">0.30</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Issued and unvested at April 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pid_c20240501__20250430__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zXFRxIv3F6Ga" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Shares, Issued and unvested, Ending">22,461,633</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20240501__20250430__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zgoyfxk287Ak" style="padding-bottom: 2.5pt; text-align: right" title="Weighted Average Price per Share, Issued and unvested, Ending">0.90</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

5124529

0.38

21079453

0.99

2964280

778069

0.30

22461633

0.90

4600000

1000000.0

15200000

P1Y7M6D

(12) Fair Value Measurements ASC Topic 820, “Fair Value Measurements” states that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities that are measured at fair value are reported using a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy maximizes the use of observable input and minimizes the use of unobservable inputs. The following is a description of the three hierarchy levels. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in">Level 1 </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">Level 2 </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Inputs other than quoted prices in active markets that are observable for the asset or liability, either directly or indirectly.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">Level 3 </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Inputs that are unobservable for the asset or liability.</td></tr> </table> Disclosure of Fair Values The Company’s financial instruments that are not re-measured at fair value include cash, cash equivalents, restricted cash, accounts receivable, other assets, contract assets and liabilities, deposits, accounts payable, and accrued expenses. The carrying value is equal to their fair value due to the short-term nature of these accounts. Transfers into or out of any hierarchy level are recognized at the end of the reporting period in which the transfers occurred. There were no transfers between any hierarchy levels during either of the fiscal years ended April 30, 2025 and 2024, respectively.

(13) Income Taxes <p id="xdx_895_eus-gaap--ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock_zddD1ZzsDSzc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">Loss before income taxes for the years ended April 30, 2025 and 2024 consisted of the following components: Schedule of Components of Loss Before Income Taxes <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20240501__20250430_zzCKth3UdmDj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20230501__20240430_zVy1UelMgeSi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_408_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_pn3n3_maILFCOzq5R_zTtTMYHY9Mv4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Domestic</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(22,545</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(28,737</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_pn3n3_maILFCOzq5R_z8jn4a3bW5o4" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Foreign</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_pn3n3_mtILFCOzq5R_z8zbLNSy4gZg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total loss before income taxes</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(22,545</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(28,737</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> The income tax benefit for the years ended April 30, 2025 and 2024 consisted of $1.0 million and $1.3 million, respectively, from the sale of New Jersey net operating losses and research and development credits. Tax Rate Reconciliation <p id="xdx_89F_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_z8nV7ZW4nmel" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The effective income tax rate differed from the percentages computed by applying the U.S. federal income tax rate for the periods ended April 30, 2025 and 2024 to loss before income taxes as a result of the following: Schedule of Effective Income Tax Rate Reconciliation <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20240501__20250430_zZqsqA7FJSde" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2025</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20230501__20240430_znzVWdEivLVi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_iN_pid_dpi_uPure_maLeoqITb5_zYry8kq2xv4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Computed expected tax benefit</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(21.0</td><td style="white-space: nowrap; width: 1%; text-align: left">)%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(21.0</td><td style="white-space: nowrap; width: 1%; text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Increase (reduction) in income taxes resulting from:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_iN_pid_dpi_uPure_maLeoqITb5_z8Aobe375Me9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">State income taxes, net of federal benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3.7</td><td style="white-space: nowrap; text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3.5</td><td style="white-space: nowrap; text-align: left">)%</td></tr> <tr id="xdx_40E_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxCreditsResearch_pid_dp_uPure_msLeoqITb5_z5QAVnGB1Zua" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Federal research and development tax credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1.1</td><td style="white-space: nowrap; text-align: left">)%</td></tr> <tr id="xdx_40C_eus-gaap--EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_pid_dp_uPure_maLeoqITb5_zPNRkqKk0mJ9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Foreign rate differential</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_407_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther_iN_pid_dpi_uPure_maLeoqITb5_zAVNTe57bs1i" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Other non-deductible expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.1</td><td style="white-space: nowrap; text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.4</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_405_ecustom--EffectiveIncomeTaxReconciliationProceedsOfSaleOfNewJerseyTaxBenefits_iN_pid_dpi_uPure_maLeoqITb5_zMuIZfn8Z03e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Proceeds of sale of New Jersey tax benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3.6</td><td style="white-space: nowrap; text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3.4</td><td style="white-space: nowrap; text-align: left">)%</td></tr> <tr id="xdx_404_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherAdjustments_iN_pid_dpi_uPure_maLeoqITb5_zNSbvBB30LR8" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Expiration of net operating loss due to dissolution of subsidiary</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.8</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_402_ecustom--EffectiveIncomeTaxReconciliationOtherExpirationOfNetOperatingLoss_iN_pid_dpi_uPure_maLeoqITb5_zDznIX5duAt6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Other expiration of net operating loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.7</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.5</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_403_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_iN_pid_dpi_uPure_maLeoqITb5_ztlwVGMTPEjd" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Increase in valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8.3</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">19.8</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">%</td></tr> <tr id="xdx_40F_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iNT_pid_dpi_mtLeoqITb5_zUcEm5XMV07b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Income tax (benefit)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(4.6</td><td style="white-space: nowrap; padding-bottom: 2.5pt; text-align: left">)%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(4.3</td><td style="white-space: nowrap; padding-bottom: 2.5pt; text-align: left">)%</td></tr> </table> Significant Components of Deferred Taxes <p id="xdx_897_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_zCrXOtQMRle8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The tax effects of temporary differences and carry forwards that give rise to the Company’s deferred tax assets and deferred tax liabilities are presented below. Schedule of Deferred Tax Assets and Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250430_zwFUPEr8YJwg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20240430_zj5qR6150eMl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsDomestic_iI_pn3n3_maDTAGzon3_z1D4DIEHnFHa" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">Federal net operating loss carryforwards</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">52,496</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">48,745</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsForeign_iI_pn3n3_maDTAGzon3_zDTO9ZcHHAeg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Foreign net operating loss carryforwards</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,059</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal_iI_pn3n3_maDTAGzon3_zRdxP3mSl49a" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">State operating loss carryforwards</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,950</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,934</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsTaxCreditCarryforwardsResearch_iI_pn3n3_maDTAGzon3_zlgpDwJ6ViW5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Federal and New Jersey research and development tax credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,553</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,404</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_iI_pn3n3_maDTAGzon3_zKUS3mtGtqKl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Stock compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">378</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">470</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_iI_pn3n3_maDTAGzon3_zA9svFEPA2Dd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">188</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">312</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsInProcessResearchAndDevelopment_iI_pn3n3_maDTAGzon3_zyP5ifaOhMcg" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Research and experimentation expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,259</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,977</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsOther_iI_pn3n3_maDTAGzon3_zq13BU5uPtCb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">337</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">601</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxAssetsGross_iTI_pn3n3_mtDTAGzon3_maDTANzeHh_zpil1xPnjfdb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Net deferred tax assets before valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">63,161</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">61,502</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pn3n3_di_msDTANzeHh_z1wL5MOoNUHd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Valuation allowance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(62,192</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(60,322</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsNet_iTI_pn3n3_mtDTANzeHh_maNDTALzlhV_zZ4Qu4nyJmx9" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Deferred tax assets</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">969</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,180</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets_iNI_pn3n3_di_msNDTALzlhV_z14hybGtNC1j" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Intangibles</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(788</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(793</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_ecustom--DeferredTaxLiabilitiesOtherLiabilities_iNI_pn3n3_di_msNDTALzlhV_z9Er2GN7Suv6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(384</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(590</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_406_ecustom--NetDeferredTaxAssetsLiabilities_iTI_pn3n3_mtNDTALzlhV_zDrh7UabqkS6" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 2.5pt">Net deferred tax liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(203</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(203</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences and carry forwards become deductible or are utilized. As of April 30, 2025 and 2024, based upon the level of historical taxable losses, valuation allowances of $62.2 million and $60.3 million, respectively, were recorded to fully offset deferred tax assets. The valuation allowance increased $1.9 million during the year ended April 30, 2025 and increased $5.7 million during the year ended 2024 respectively, due to continuing net operating losses. As of April 30, 2025, the Company had net operating loss carry forwards for federal income tax purposes of approximately $250.0 million, which begin to expire in fiscal 2026; $116.2 million of the federal carryforward has no expiration, but the deductibility of such federal net operating losses may be limited to 80% of our taxable income in future years. The Company also had federal research and development tax credit carry forwards of approximately $<span id="xdx_904_eus-gaap--TaxCreditCarryforwardAmount_iI_pn5n6_c20250430__us-gaap--BalanceSheetLocationAxis__us-gaap--ResearchAndDevelopmentExpenseMember_zLoo2NVUwpsb" title="Tax credit carryforward, amount">5.2 million as of April 30, 2025, which begins to expire in 2026. The Tax Reform Act of 1986 contains provisions that limit the utilization of net operating loss and tax credit carry forwards if there has been an ownership change, as defined. The Company has determined that as a result of multiple ownership changes, as described in Section 382 of the Internal Revenue Code, its ability to utilize these NOL’s and research and development tax credit have been significantly limited. In addition, as of April 30, 2025, the Company had state net operating loss carry forwards of approximately $28.3 million which <span id="xdx_908_eus-gaap--OperatingLossCarryforwardsLimitationsOnUse_c20240501__20250430__us-gaap--IncomeTaxAuthorityAxis__us-gaap--StateAndLocalJurisdictionMember_zGaN0LBwPKbd" title="Operating loss carryforwards, expiration description">begin to expire in 2042, which also may be limited to utilization limitations. Further, as of April 30, 2025, the Company dissolved their UK subsidiary, Ocean Power Technologies Ltd., and thus have written off their outstanding net operating losses. The ability to utilize these carry forwards may also be limited due to ownership changes. Income Tax Benefit The Company has sold New Jersey State net operating losses and research development credits under the New Jersey Economic Development Authority Tax Transfer programs, which has resulted in $1.0 million and $1.3 million of tax benefit related to the fiscal year ended April 30, 2025 and 2024, respectively, from the sale of New Jersey net operating losses and research and development credits. New Jersey-based technology or biotechnology companies with fewer than 225 US employees may be eligible to sell net operating losses and research and development tax credits to unaffiliated corporations, up to a maximum lifetime benefit of $<span id="xdx_904_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseResearchAndDevelopment_pn5n6_c20240501__20250430__srt--RangeAxis__srt--MaximumMember_ziIhgM27pTBj" title="Income tax benefit, research and development expense">20.0 million per business. Uncertain Tax Positions The Company applies the guidance issued by the FASB for the accounting and reporting of uncertain tax positions. The guidance requires the Company to recognize in its consolidated financial statements the impact of a tax position if that position is more likely than not to be sustained upon examination, based on the technical merits of the position. At April 30, 2025 and 2024, the Company had no other unrecognized tax positions. The Company does not expect any material increase or decrease in its income tax expense in the next fiscal year, related to examinations or uncertain tax positions. Net operating loss and credit carry forwards since inception remain open to examination by taxing authorities and will continue to remain open for a period after utilization. The Company does not have any interest or penalties accrued related to uncertain tax positions as it does not have any unrecognized tax benefits.

<p id="xdx_895_eus-gaap--ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock_zddD1ZzsDSzc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">Loss before income taxes for the years ended April 30, 2025 and 2024 consisted of the following components: Schedule of Components of Loss Before Income Taxes <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20240501__20250430_zzCKth3UdmDj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20230501__20240430_zVy1UelMgeSi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_408_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_pn3n3_maILFCOzq5R_zTtTMYHY9Mv4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Domestic</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(22,545</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(28,737</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_pn3n3_maILFCOzq5R_z8jn4a3bW5o4" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Foreign</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_pn3n3_mtILFCOzq5R_z8zbLNSy4gZg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total loss before income taxes</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(22,545</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(28,737</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

-22545000

-28737000

-22545000

-28737000

1000000.0

1300000

<p id="xdx_89F_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_z8nV7ZW4nmel" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The effective income tax rate differed from the percentages computed by applying the U.S. federal income tax rate for the periods ended April 30, 2025 and 2024 to loss before income taxes as a result of the following: Schedule of Effective Income Tax Rate Reconciliation <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20240501__20250430_zZqsqA7FJSde" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2025</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20230501__20240430_znzVWdEivLVi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_iN_pid_dpi_uPure_maLeoqITb5_zYry8kq2xv4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Computed expected tax benefit</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(21.0</td><td style="white-space: nowrap; width: 1%; text-align: left">)%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(21.0</td><td style="white-space: nowrap; width: 1%; text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Increase (reduction) in income taxes resulting from:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_iN_pid_dpi_uPure_maLeoqITb5_z8Aobe375Me9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">State income taxes, net of federal benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3.7</td><td style="white-space: nowrap; text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3.5</td><td style="white-space: nowrap; text-align: left">)%</td></tr> <tr id="xdx_40E_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxCreditsResearch_pid_dp_uPure_msLeoqITb5_z5QAVnGB1Zua" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Federal research and development tax credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1.1</td><td style="white-space: nowrap; text-align: left">)%</td></tr> <tr id="xdx_40C_eus-gaap--EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_pid_dp_uPure_maLeoqITb5_zPNRkqKk0mJ9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Foreign rate differential</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_407_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther_iN_pid_dpi_uPure_maLeoqITb5_zAVNTe57bs1i" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Other non-deductible expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.1</td><td style="white-space: nowrap; text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.4</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_405_ecustom--EffectiveIncomeTaxReconciliationProceedsOfSaleOfNewJerseyTaxBenefits_iN_pid_dpi_uPure_maLeoqITb5_zMuIZfn8Z03e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Proceeds of sale of New Jersey tax benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3.6</td><td style="white-space: nowrap; text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3.4</td><td style="white-space: nowrap; text-align: left">)%</td></tr> <tr id="xdx_404_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherAdjustments_iN_pid_dpi_uPure_maLeoqITb5_zNSbvBB30LR8" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Expiration of net operating loss due to dissolution of subsidiary</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.8</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_402_ecustom--EffectiveIncomeTaxReconciliationOtherExpirationOfNetOperatingLoss_iN_pid_dpi_uPure_maLeoqITb5_zDznIX5duAt6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Other expiration of net operating loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.7</td><td style="white-space: nowrap; text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.5</td><td style="white-space: nowrap; text-align: left">%</td></tr> <tr id="xdx_403_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_iN_pid_dpi_uPure_maLeoqITb5_ztlwVGMTPEjd" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Increase in valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8.3</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">19.8</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">%</td></tr> <tr id="xdx_40F_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iNT_pid_dpi_mtLeoqITb5_zUcEm5XMV07b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Income tax (benefit)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(4.6</td><td style="white-space: nowrap; padding-bottom: 2.5pt; text-align: left">)%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(4.3</td><td style="white-space: nowrap; padding-bottom: 2.5pt; text-align: left">)%</td></tr> </table>

0.210

0.037

0.035

-0.011

0.001

-0.004

0.036 0.034

-0.088

-0.067 -0.045

-0.083

-0.198

0.046

0.043

<p id="xdx_897_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_zCrXOtQMRle8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The tax effects of temporary differences and carry forwards that give rise to the Company’s deferred tax assets and deferred tax liabilities are presented below. Schedule of Deferred Tax Assets and Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250430_zwFUPEr8YJwg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20240430_zj5qR6150eMl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsDomestic_iI_pn3n3_maDTAGzon3_z1D4DIEHnFHa" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">Federal net operating loss carryforwards</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">52,496</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">48,745</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsForeign_iI_pn3n3_maDTAGzon3_zDTO9ZcHHAeg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Foreign net operating loss carryforwards</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,059</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal_iI_pn3n3_maDTAGzon3_zRdxP3mSl49a" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">State operating loss carryforwards</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,950</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,934</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsTaxCreditCarryforwardsResearch_iI_pn3n3_maDTAGzon3_zlgpDwJ6ViW5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Federal and New Jersey research and development tax credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,553</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,404</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_iI_pn3n3_maDTAGzon3_zKUS3mtGtqKl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Stock compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">378</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">470</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_iI_pn3n3_maDTAGzon3_zA9svFEPA2Dd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">188</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">312</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsInProcessResearchAndDevelopment_iI_pn3n3_maDTAGzon3_zyP5ifaOhMcg" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Research and experimentation expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,259</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,977</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsOther_iI_pn3n3_maDTAGzon3_zq13BU5uPtCb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">337</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">601</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxAssetsGross_iTI_pn3n3_mtDTAGzon3_maDTANzeHh_zpil1xPnjfdb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Net deferred tax assets before valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">63,161</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">61,502</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pn3n3_di_msDTANzeHh_z1wL5MOoNUHd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Valuation allowance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(62,192</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(60,322</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsNet_iTI_pn3n3_mtDTANzeHh_maNDTALzlhV_zZ4Qu4nyJmx9" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Deferred tax assets</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">969</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,180</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets_iNI_pn3n3_di_msNDTALzlhV_z14hybGtNC1j" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Intangibles</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(788</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(793</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_ecustom--DeferredTaxLiabilitiesOtherLiabilities_iNI_pn3n3_di_msNDTALzlhV_z9Er2GN7Suv6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(384</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(590</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_406_ecustom--NetDeferredTaxAssetsLiabilities_iTI_pn3n3_mtNDTALzlhV_zDrh7UabqkS6" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 2.5pt">Net deferred tax liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(203</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(203</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

52496000

48745000

2059000

1950000

1934000

5553000

5404000

378000

470000

188000

312000

2259000

1977000

337000

601000

63161000

61502000

62192000

60322000

969000

1180000

788000

793000

384000 590000 -203000 -203000

62200000

60300000

1900000

5700000

250000000.0

begin to expire in fiscal 2026 116200000

the deductibility of such federal net operating losses may be limited to 80% of our taxable income in future years.

5200000

28300000

begin to expire in 2042

1000000.0

1300000

20000000.0

(14) Commitments and Contingencies Litigation with Paragon Technologies, Inc. On October 10, 2023, Paragon Technologies, Inc. filed a complaint in the Court of Chancery of the State of Delaware against the Company, and the members of its Board of Directors, claiming certain breaches of their fiduciary duties. The complaint sought only injunctive relief against the Company, and not monetary damages, and therefore the financial exposure derived therein was limited to applicable legal fees and costs at that stage, which was material to FY’ 24. On November 2, 2023, Paragon sought leave to amend its complaint to add additional claims. The Court granted this motion for leave to amend, provided that the Court would not delay the hearing on the matters raised in the initial complaint, which was set for November 28, 2023. This hearing on the initial complaint was held and on November 30, 2023, the Court ruled in favor of the Company and denied Paragon’s motion for injunctive relief. On February 28, 2024, the Company successfully finalized its 2023 annual meeting of stockholders in spite of Paragon’s repeated attempts to contest the meeting. In an August 12, 2024 Press Release and its Form 10-Q report for the second quarter of 2024, Paragon announced that it was no longer pursuing litigation against the Company. Pursuant to a Court order dated January 9, 2025, Paragon was required “to file a status report within 30 days. Otherwise, the case will be dismissed under Rule 41(e).” Because Paragon did not file a status report by February 10, 2025, the Company anticipates that the Court will dismiss the case, with prejudice, due to Paragon’s failure to prosecute. Section 220 Demand In February 2025, the Company received a shareholder demand under Section 220 of the General Corporation Law of the State of Delaware for inspection of certain books and records relating to prior equity grants made to officers and directors under the 2015 Plan in January 2023, February 2024 and January 2025. The Company has produced to the Plaintiff documents fully responsive to the Demand. The Company is reviewing and considering the demand and engaging with counsel for the shareholder but has not recorded any material liability for these matters as of April 30, 2025 as it cannot estimate the ultimate outcome at this time. General Legal Matters From time to time, the Company is involved in legal and administrative proceedings and claims of various types. The Company records a liability in its consolidated financial statements for these matters when a loss is known or considered probable and the amount can be reasonably estimated. The Company reviews these estimates each accounting period as additional information is known and adjusts the loss provision when appropriate. If a matter is both probable to result in a liability and the amounts of loss can be reasonably estimated, the Company estimates and discloses the possible loss or range of loss to the extent necessary to make the consolidated financial statements not misleading. If the loss is not probable or cannot be reasonably estimated, a liability is not recorded in its consolidated financial statements.

(15) Operating Segments and Geographic Information The Company operates as one operating segment. The Company’s chief operating decision maker (the “CODM”) is its Chief Executive Officer, who reviews financial information on a consolidated basis and utilizes net loss for purposes of making operating decisions, assessing financial performance of the consolidated Company, and making resource allocation decisions. The CODM also reviews total assets. While assets may move throughout the world to support our revenue projects, for reporting purposes they are included in North America total assets. Revenue and expenses are generally attributed to the operating unit that bills the customers. Geographic information is as follows: <p id="xdx_89C_eus-gaap--ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock_z89hVIIeK5h5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"> Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; text-align: center">Year Ended April 30, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">North & South America</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Europe</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Asia and Australia</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Total</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="14" style="text-align: center">(in thousands)</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left">Revenue from external customers</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20240501__20250430__srt--StatementGeographicalAxis__srt--NorthAmericaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zuf8y72zrQSf" style="width: 10%; text-align: right" title="Revenues from external customers">3,855</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20240501__20250430__srt--StatementGeographicalAxis__srt--EuropeMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zSLLqbMpkQ2b" style="width: 10%; text-align: right" title="Revenues from external customers">1,888</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20240501__20250430__srt--StatementGeographicalAxis__custom--AsiaAndAustraliaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zDad3O8LxN39" style="width: 10%; text-align: right" title="Revenues from external customers">118</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20240501__20250430__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zo2GSV76N865" style="width: 10%; text-align: right" title="Revenues from external customers">5,861</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating (loss) income</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--OperatingIncomeLoss_pn3n3_c20240501__20250430__srt--StatementGeographicalAxis__srt--NorthAmericaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zrIKO0fwV1ed" style="text-align: right" title="Operating (loss) income">(22,835</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--OperatingIncomeLoss_pn3n3_c20240501__20250430__srt--StatementGeographicalAxis__srt--EuropeMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zPLE3vrcfzYd" style="text-align: right" title="Operating (loss) income">467</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--OperatingIncomeLoss_pn3n3_c20240501__20250430__srt--StatementGeographicalAxis__custom--AsiaAndAustraliaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zfESkMdOSc0k" style="text-align: right" title="Operating (loss) income">78</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--OperatingIncomeLoss_pn3n3_c20240501__20250430__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_z7GWjah24hkf" style="text-align: right" title="Operating (loss) income">(22,290</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Right-of-use assets, net</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_c20250430__srt--StatementGeographicalAxis__srt--NorthAmericaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zx2bBXR1Dlr2" style="text-align: right" title="Right of use assets">1,552</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_c20250430__srt--StatementGeographicalAxis__srt--EuropeMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zENKROLmdOY5" style="text-align: right" title="Right of use assets">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_c20250430__srt--StatementGeographicalAxis__custom--AsiaAndAustraliaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zW3AQiLEwS0j" style="text-align: right" title="Right of use assets">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_c20250430__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zuyG6xxKUaRc" style="text-align: right" title="Right of use assets">1,552</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Long-lived assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--NoncurrentAssets_iI_pn3n3_c20250430__srt--StatementGeographicalAxis__srt--NorthAmericaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_z4bP9G3Jrgxj" style="text-align: right" title="Long-lived assets">3,444</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--NoncurrentAssets_iI_pn3n3_c20250430__srt--StatementGeographicalAxis__srt--EuropeMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zs5eEYaizGt6" style="text-align: right" title="Long-lived assets">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--NoncurrentAssets_iI_pn3n3_c20250430__srt--StatementGeographicalAxis__custom--AsiaAndAustraliaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_z64JTyQnxx11" style="text-align: right" title="Long-lived assets">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--NoncurrentAssets_iI_pn3n3_c20250430__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zwt0ph6YXBy5" style="text-align: right" title="Long-lived assets">3,444</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--Assets_iI_pn3n3_c20250430__srt--StatementGeographicalAxis__srt--NorthAmericaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zM0bUGU8kKfh" style="text-align: right" title="Total assets">30,793</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--Assets_iI_pn3n3_c20250430__srt--StatementGeographicalAxis__srt--EuropeMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zJOrnf1w85Xk" style="text-align: right" title="Total assets">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--Assets_iI_pn3n3_c20250430__srt--StatementGeographicalAxis__custom--AsiaAndAustraliaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_za7Tzu02XxZ6" style="text-align: right" title="Total assets">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--Assets_iI_pn3n3_c20250430__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zXFRMB7b7zV7" style="text-align: right" title="Total assets">30,793</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; text-align: center">Year Ended April 30, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">North & South America</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Europe</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Asia and Australia</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Total</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="14" style="text-align: center">(in thousands)</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left">Revenue from external customers</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20230501__20240430__srt--StatementGeographicalAxis__srt--NorthAmericaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zaYtW72J0Qn" style="width: 10%; text-align: right" title="Revenues from external customers">5,278</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20230501__20240430__srt--StatementGeographicalAxis__srt--EuropeMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zK4FEHc8ukBj" style="width: 10%; text-align: right" title="Revenues from external customers">247</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20230501__20240430__srt--StatementGeographicalAxis__custom--AsiaAndAustraliaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zXTKFy7LgoD5" style="width: 10%; text-align: right" title="Revenues from external customers">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20230501__20240430__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zOpMFzslCcB1" style="width: 10%; text-align: right" title="Revenues from external customers">5,525</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating (loss) income</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--OperatingIncomeLoss_pn3n3_c20230501__20240430__srt--StatementGeographicalAxis__srt--NorthAmericaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zkr5KTjtyqec" style="text-align: right" title="Operating (loss) income">(29,548</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--OperatingIncomeLoss_pn3n3_c20230501__20240430__srt--StatementGeographicalAxis__srt--EuropeMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_z66pRd49zzr3" style="text-align: right" title="Operating (loss) income">217</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--OperatingIncomeLoss_pn3n3_c20230501__20240430__srt--StatementGeographicalAxis__custom--AsiaAndAustraliaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zB36pcpBPAY2" style="text-align: right" title="Operating (loss) income">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--OperatingIncomeLoss_pn3n3_c20230501__20240430__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zxuNT2SKlmSd" style="text-align: right" title="Operating (loss) income">(29,331</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Right-of-use assets, net</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_c20240430__srt--StatementGeographicalAxis__srt--NorthAmericaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zRsdvNShahs7" style="text-align: right" title="Right of use assets">2,405</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_c20240430__srt--StatementGeographicalAxis__srt--EuropeMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zZp81VXUNFvl" style="text-align: right" title="Right of use assets">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_c20240430__srt--StatementGeographicalAxis__custom--AsiaAndAustraliaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zEwSXruIRnc7" style="text-align: right" title="Right of use assets">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_c20240430__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_ziT1aEZaR8Sb" style="text-align: right" title="Right of use assets">2,405</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Long-lived assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--NoncurrentAssets_iI_pn3n3_c20240430__srt--StatementGeographicalAxis__srt--NorthAmericaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zw3uZXl0Jjxa" style="text-align: right" title="Long-lived assets">3,443</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--NoncurrentAssets_iI_pn3n3_c20240430__srt--StatementGeographicalAxis__srt--EuropeMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zT8CFXLiCEc5" style="text-align: right" title="Long-lived assets">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--NoncurrentAssets_iI_pn3n3_c20240430__srt--StatementGeographicalAxis__custom--AsiaAndAustraliaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_z7YVwvx4AGD7" style="text-align: right" title="Long-lived assets">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--NoncurrentAssets_iI_pn3n3_c20240430__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zjzormzrc8K3" style="text-align: right" title="Long-lived assets">3,443</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--Assets_iI_pn3n3_c20240430__srt--StatementGeographicalAxis__srt--NorthAmericaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_z2hAqhBiHBs6" style="text-align: right" title="Total assets">28,704</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--Assets_iI_pn3n3_c20240430__srt--StatementGeographicalAxis__srt--EuropeMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zLrNKybbMDwg" style="text-align: right" title="Total assets">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--Assets_iI_pn3n3_c20240430__srt--StatementGeographicalAxis__custom--AsiaAndAustraliaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_z3rQgrgmOzx4" style="text-align: right" title="Total assets">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--Assets_iI_pn3n3_c20240430__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zzKjh7Q3lK1" style="text-align: right" title="Total assets">28,704</td><td style="text-align: left"> </td></tr> </table> The following table presents selected financial information with respect to the Company’s single operating segment and its significant segment expenses for the years ended April 30, 2025 and 2024: Schedule of Operating Segment Expenses <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20240501__20250430__us-gaap--StatementBusinessSegmentsAxis__custom--SingleOperatingSegmentMember_z70JPuLUNVs5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20230501__20240430__us-gaap--StatementBusinessSegmentsAxis__custom--SingleOperatingSegmentMember_z0f6Co69QWQk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fiscal years ended April 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_401_eus-gaap--Revenues_pn3n3_maNILz8dF_zHVqJKYlnnS3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">5,861</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">5,525</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Less:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--CostsAndExpenses_pn3n3_msNILz8dF_z4ugQ2XTEfi3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Cost of sales</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,201</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,699</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--ResearchAndDevelopmentExpense_pn3n3_msNILz8dF_zlJZWzRjjOTd" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Product development costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,619</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,027</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--CostsAndExpensesRelatedParty_pn3n3_msNILz8dF_z1ERLLM3BXK6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Employee-related costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,939</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,045</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ProfessionalFees_pn3n3_msNILz8dF_zZK4ZpfvJ9wj" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Professional, consulting and contractor fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,705</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,024</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_msNILz8dF_ztSxZGHvKRS3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">General and administrative costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,889</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,829</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--FacilitiesCosts_pn3n3_msNILz8dF_z95ABNxjmfzh" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Facilities costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,587</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,544</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_msNILz8dF_zPY0AkeqUVK2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Stock based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,603</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,155</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OtherDepreciationAndAmortization_pn3n3_msNILz8dF_z0vGh2nJ6f0f" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Depreciation and amortization expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">904</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">568</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherOperatingIncomeExpenseNet_iN_pn3n3_di_maNILz8dF_zzBt7wLFL0i8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Other expense (income)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">168</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">171</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--InterestIncomeExpenseNet_iN_pn3n3_di_maNILz8dF_zLOw9hZkPK3i" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Interest income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(47</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(800</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--GainsLossesOnExtinguishmentOfDebt_iN_pn3n3_di_maNILz8dF_zQVMuu91HVOf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Loss on extinguishment of debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">838</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--IncomeTaxExpenseBenefit_pn3n3_msNILz8dF_z488uJTjSmP5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Income tax benefit</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,034</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,254</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--NetIncomeLoss_iT_pn3n3_mtNILz8dF_zYCk7YwMbfii" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net loss</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(21,511</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(27,483</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

<p id="xdx_89C_eus-gaap--ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock_z89hVIIeK5h5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"> Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; text-align: center">Year Ended April 30, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">North & South America</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Europe</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Asia and Australia</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Total</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="14" style="text-align: center">(in thousands)</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left">Revenue from external customers</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20240501__20250430__srt--StatementGeographicalAxis__srt--NorthAmericaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zuf8y72zrQSf" style="width: 10%; text-align: right" title="Revenues from external customers">3,855</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20240501__20250430__srt--StatementGeographicalAxis__srt--EuropeMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zSLLqbMpkQ2b" style="width: 10%; text-align: right" title="Revenues from external customers">1,888</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20240501__20250430__srt--StatementGeographicalAxis__custom--AsiaAndAustraliaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zDad3O8LxN39" style="width: 10%; text-align: right" title="Revenues from external customers">118</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20240501__20250430__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zo2GSV76N865" style="width: 10%; text-align: right" title="Revenues from external customers">5,861</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating (loss) income</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--OperatingIncomeLoss_pn3n3_c20240501__20250430__srt--StatementGeographicalAxis__srt--NorthAmericaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zrIKO0fwV1ed" style="text-align: right" title="Operating (loss) income">(22,835</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--OperatingIncomeLoss_pn3n3_c20240501__20250430__srt--StatementGeographicalAxis__srt--EuropeMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zPLE3vrcfzYd" style="text-align: right" title="Operating (loss) income">467</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--OperatingIncomeLoss_pn3n3_c20240501__20250430__srt--StatementGeographicalAxis__custom--AsiaAndAustraliaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zfESkMdOSc0k" style="text-align: right" title="Operating (loss) income">78</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--OperatingIncomeLoss_pn3n3_c20240501__20250430__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_z7GWjah24hkf" style="text-align: right" title="Operating (loss) income">(22,290</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Right-of-use assets, net</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_c20250430__srt--StatementGeographicalAxis__srt--NorthAmericaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zx2bBXR1Dlr2" style="text-align: right" title="Right of use assets">1,552</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_c20250430__srt--StatementGeographicalAxis__srt--EuropeMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zENKROLmdOY5" style="text-align: right" title="Right of use assets">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_c20250430__srt--StatementGeographicalAxis__custom--AsiaAndAustraliaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zW3AQiLEwS0j" style="text-align: right" title="Right of use assets">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_c20250430__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zuyG6xxKUaRc" style="text-align: right" title="Right of use assets">1,552</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Long-lived assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--NoncurrentAssets_iI_pn3n3_c20250430__srt--StatementGeographicalAxis__srt--NorthAmericaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_z4bP9G3Jrgxj" style="text-align: right" title="Long-lived assets">3,444</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--NoncurrentAssets_iI_pn3n3_c20250430__srt--StatementGeographicalAxis__srt--EuropeMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zs5eEYaizGt6" style="text-align: right" title="Long-lived assets">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--NoncurrentAssets_iI_pn3n3_c20250430__srt--StatementGeographicalAxis__custom--AsiaAndAustraliaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_z64JTyQnxx11" style="text-align: right" title="Long-lived assets">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--NoncurrentAssets_iI_pn3n3_c20250430__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zwt0ph6YXBy5" style="text-align: right" title="Long-lived assets">3,444</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--Assets_iI_pn3n3_c20250430__srt--StatementGeographicalAxis__srt--NorthAmericaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zM0bUGU8kKfh" style="text-align: right" title="Total assets">30,793</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--Assets_iI_pn3n3_c20250430__srt--StatementGeographicalAxis__srt--EuropeMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zJOrnf1w85Xk" style="text-align: right" title="Total assets">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--Assets_iI_pn3n3_c20250430__srt--StatementGeographicalAxis__custom--AsiaAndAustraliaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_za7Tzu02XxZ6" style="text-align: right" title="Total assets">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--Assets_iI_pn3n3_c20250430__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zXFRMB7b7zV7" style="text-align: right" title="Total assets">30,793</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; text-align: center">Year Ended April 30, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">North & South America</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Europe</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Asia and Australia</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Total</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="14" style="text-align: center">(in thousands)</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left">Revenue from external customers</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20230501__20240430__srt--StatementGeographicalAxis__srt--NorthAmericaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zaYtW72J0Qn" style="width: 10%; text-align: right" title="Revenues from external customers">5,278</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20230501__20240430__srt--StatementGeographicalAxis__srt--EuropeMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zK4FEHc8ukBj" style="width: 10%; text-align: right" title="Revenues from external customers">247</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20230501__20240430__srt--StatementGeographicalAxis__custom--AsiaAndAustraliaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zXTKFy7LgoD5" style="width: 10%; text-align: right" title="Revenues from external customers">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20230501__20240430__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zOpMFzslCcB1" style="width: 10%; text-align: right" title="Revenues from external customers">5,525</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating (loss) income</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--OperatingIncomeLoss_pn3n3_c20230501__20240430__srt--StatementGeographicalAxis__srt--NorthAmericaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zkr5KTjtyqec" style="text-align: right" title="Operating (loss) income">(29,548</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--OperatingIncomeLoss_pn3n3_c20230501__20240430__srt--StatementGeographicalAxis__srt--EuropeMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_z66pRd49zzr3" style="text-align: right" title="Operating (loss) income">217</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--OperatingIncomeLoss_pn3n3_c20230501__20240430__srt--StatementGeographicalAxis__custom--AsiaAndAustraliaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zB36pcpBPAY2" style="text-align: right" title="Operating (loss) income">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--OperatingIncomeLoss_pn3n3_c20230501__20240430__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zxuNT2SKlmSd" style="text-align: right" title="Operating (loss) income">(29,331</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Right-of-use assets, net</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_c20240430__srt--StatementGeographicalAxis__srt--NorthAmericaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zRsdvNShahs7" style="text-align: right" title="Right of use assets">2,405</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_c20240430__srt--StatementGeographicalAxis__srt--EuropeMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zZp81VXUNFvl" style="text-align: right" title="Right of use assets">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_c20240430__srt--StatementGeographicalAxis__custom--AsiaAndAustraliaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zEwSXruIRnc7" style="text-align: right" title="Right of use assets">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_c20240430__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_ziT1aEZaR8Sb" style="text-align: right" title="Right of use assets">2,405</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Long-lived assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--NoncurrentAssets_iI_pn3n3_c20240430__srt--StatementGeographicalAxis__srt--NorthAmericaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zw3uZXl0Jjxa" style="text-align: right" title="Long-lived assets">3,443</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--NoncurrentAssets_iI_pn3n3_c20240430__srt--StatementGeographicalAxis__srt--EuropeMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zT8CFXLiCEc5" style="text-align: right" title="Long-lived assets">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--NoncurrentAssets_iI_pn3n3_c20240430__srt--StatementGeographicalAxis__custom--AsiaAndAustraliaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_z7YVwvx4AGD7" style="text-align: right" title="Long-lived assets">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--NoncurrentAssets_iI_pn3n3_c20240430__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zjzormzrc8K3" style="text-align: right" title="Long-lived assets">3,443</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--Assets_iI_pn3n3_c20240430__srt--StatementGeographicalAxis__srt--NorthAmericaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_z2hAqhBiHBs6" style="text-align: right" title="Total assets">28,704</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--Assets_iI_pn3n3_c20240430__srt--StatementGeographicalAxis__srt--EuropeMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zLrNKybbMDwg" style="text-align: right" title="Total assets">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--Assets_iI_pn3n3_c20240430__srt--StatementGeographicalAxis__custom--AsiaAndAustraliaMember__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_z3rQgrgmOzx4" style="text-align: right" title="Total assets">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--Assets_iI_pn3n3_c20240430__us-gaap--StatementBusinessSegmentsAxis__custom--OperatingSegmentMember_zzKjh7Q3lK1" style="text-align: right" title="Total assets">28,704</td><td style="text-align: left"> </td></tr> </table>

3855000

1888000

118000

5861000

-22835000

467000

78000

-22290000

1552000

3444000

30793000

5278000

247000

5525000

-29548000

217000

-29331000

2405000

3443000

28704000

The following table presents selected financial information with respect to the Company’s single operating segment and its significant segment expenses for the years ended April 30, 2025 and 2024: Schedule of Operating Segment Expenses <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20240501__20250430__us-gaap--StatementBusinessSegmentsAxis__custom--SingleOperatingSegmentMember_z70JPuLUNVs5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20230501__20240430__us-gaap--StatementBusinessSegmentsAxis__custom--SingleOperatingSegmentMember_z0f6Co69QWQk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fiscal years ended April 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_401_eus-gaap--Revenues_pn3n3_maNILz8dF_zHVqJKYlnnS3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">5,861</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">5,525</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Less:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--CostsAndExpenses_pn3n3_msNILz8dF_z4ugQ2XTEfi3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Cost of sales</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,201</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,699</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--ResearchAndDevelopmentExpense_pn3n3_msNILz8dF_zlJZWzRjjOTd" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Product development costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,619</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,027</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--CostsAndExpensesRelatedParty_pn3n3_msNILz8dF_z1ERLLM3BXK6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Employee-related costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,939</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,045</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ProfessionalFees_pn3n3_msNILz8dF_zZK4ZpfvJ9wj" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Professional, consulting and contractor fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,705</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,024</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_msNILz8dF_ztSxZGHvKRS3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">General and administrative costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,889</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,829</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--FacilitiesCosts_pn3n3_msNILz8dF_z95ABNxjmfzh" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Facilities costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,587</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,544</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_msNILz8dF_zPY0AkeqUVK2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Stock based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,603</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,155</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OtherDepreciationAndAmortization_pn3n3_msNILz8dF_z0vGh2nJ6f0f" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Depreciation and amortization expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">904</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">568</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherOperatingIncomeExpenseNet_iN_pn3n3_di_maNILz8dF_zzBt7wLFL0i8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Other expense (income)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">168</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">171</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--InterestIncomeExpenseNet_iN_pn3n3_di_maNILz8dF_zLOw9hZkPK3i" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Interest income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(47</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(800</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--GainsLossesOnExtinguishmentOfDebt_iN_pn3n3_di_maNILz8dF_zQVMuu91HVOf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Loss on extinguishment of debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">838</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--IncomeTaxExpenseBenefit_pn3n3_msNILz8dF_z488uJTjSmP5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Income tax benefit</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,034</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,254</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--NetIncomeLoss_iT_pn3n3_mtNILz8dF_zYCk7YwMbfii" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net loss</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(21,511</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(27,483</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

5861000

5525000

4201000

2699000

1619000

5027000

6939000

11045000

4705000

9024000

2889000

3829000

1587000 1544000

4603000

1155000

904000

568000

-168000

-171000

47000

800000

-838000

-1034000

-1254000

-21511000

-27483000

(16) Employee Benefits 401(k) Savings & Retirement Plan The Company offers a 401(k) Savings & Retirement Plan to eligible employees meeting certain age and service requirements. This plan permits participants to contribute 100% of their salary, up to the maximum allowable by the Internal Revenue Service regulations. Participants are immediately vested in their voluntary contributions plus actual earnings or less actual losses thereon. Participants are eligible to participate in the Company match after one year of service and are fully vested in the Company match after two years of service. The Company matches employee contributions dollar for dollar up to the first 3% and fifty cents on the dollar for each additional 1% up to 9% for a maximum match contribution of 6%. The aggregate employer 401(k) match expense recorded in the Consolidated Statements of Operations for the years ended April 30, 2025 and 2024 was approximately $<span id="xdx_905_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_pn5n6_c20240501__20250430__us-gaap--PlanNameAxis__custom--RetirementPlanMember_zMFAbtY4sXql" title="Employee benefits and share-based compensation">0.2 million and $<span id="xdx_905_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_pn5n6_c20230501__20240430__us-gaap--PlanNameAxis__custom--RetirementPlanMember_zyEOxCWjz9af" title="Employee benefits and share-based compensation">0.3 million, respectively. The Company may also provide for a voluntary contribution to the plan which is approved by the Company’s Board of Directors on an annual basis. All participants immediately vest on the date of distribution.

0.03 0.01 0.09 0.06

200000

300000

(17) Subsequent Events Convertible Note Issuance In May 2025, the Company issued a $10.0 million unsecured convertible promissory note (“Notes”) to an institutional investor under its shelf registration statement on Form S-3. The Notes will not bear interest except that upon the occurrence and during the continuance of an event of default, interest will accrue on the Notes at an interest rate of 13% per annum. Unless earlier converted or redeemed, the Notes will mature on the twenty-four month anniversary of the issuance date at a premium of <span id="xdx_90B_eus-gaap--DebtInstrumentRedemptionPricePercentage_dp_c20250501__20250531__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zB8BEBPydfmk" title="Redemption premium percentage">13% to the face value of the Notes (the “Redemption Value”). At any time after the issuance date, the Notes are convertible, in whole or in part, and subject to certain beneficial ownership limitations, at the option of the holders, into shares of our common stock at a conversion price equal to $0.68 (the “Fixed Conversion Price”). The Fixed Conversion Price is subject to customary adjustments upon any stock split, stock dividend, stock combination, recapitalization or similar events. Starting on the closing date, the Notes amortize in installments, and we will make monthly payments on the first trading day of each monthly anniversary commencing on the closing date through the maturity date, payable in cash or shares of common stock. Upon the satisfaction of certain conditions, we may prepay outstanding Notes upon not less than 20 trading days’ written notice by paying an amount equal to the portion of the Notes being redeemed at a <span id="xdx_902_eus-gaap--DebtInstrumentRedemptionPricePercentage_dp_c20250501__20250531__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zlZg0cHAmCA7" title="Redemption premium percentage">12.5% premium. The Notes will rank senior to the right to payment of the holders of our unsecured debt. Net proceeds will be used for working capital and general corporate purposes. As of July 21, 2025 approximately $2 million of the original $10.0 million of the Notes have been converted into common equity shares of the Company. Tax Update On July 4, 2025, the One Big Beautiful Bill was enacted, introducing significant and wide-ranging changes to the U.S. tax system. These include expanded deductions for certain expenses, the restoration of <span id="xdx_90F_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseDepreciation_dp_c20250704__20250704__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_ztDzcywKf2u6" title="Restoration depreciation percentage">100% bonus depreciation, expanded opportunity zones, and immediate expensing for U.S.-based research and development. The legislation also reinstates EBITDA-based interest deductions and makes several business tax incentives permanent. The Company is currently assessing the potential impact of this legislation on its future financial position, results of operations, and cash flows. In accordance with U.S. GAAP, the effects will be recognized in the period of enactment.

10000000.0

0.13

0.68

0.125

2000000

10000000.0