Alzamend Neuro (ALZN) 10-K 19 Jul 22 2022 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Apr. 30, 2022	Jul. 19, 2022	Oct. 31, 2021
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Apr. 30, 2022
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--04-30
Entity File Number	001-40483
Entity Registrant Name	ALZAMEND NEURO, INC.
Entity Central Index Key	0001677077
Entity Tax Identification Number	81-1822909
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	3500 Lenox Rd NE
Entity Address, Address Line Two	Suite 1500
Entity Address, City or Town	Atlanta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30326
City Area Code	844
Local Phone Number	722-6333
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	ALZN
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	false
Entity Public Float			$ 109,100,000
Entity Common Stock, Shares Outstanding		95,481,790
Auditor Firm ID	23
Auditor Name	BAKER TILLY US, LLP
Auditor Location	San Diego, California

Balance Sheets

Balance Sheets - USD ($)	Apr. 30, 2022	Apr. 30, 2021
CURRENT ASSETS
Cash	$ 14,063,811	$ 1,929,270
Prepaid expenses and other current assets	349,723	983,320
TOTAL CURRENT ASSETS	14,413,534	2,912,590
Property, plant and equipment, net	102,909
TOTAL ASSETS	14,516,443	2,912,590
CURRENT LIABILITIES
Accounts payable and accrued liabilities	1,162,850	503,591
Related party payable	2,082	60,749
Convertible notes, net		335,303
TOTAL CURRENT LIABILITIES	1,164,932	899,643
TOTAL LIABILITIES	1,164,932	899,643
STOCKHOLDERS’ EQUITY
Convertible Preferred stock, $0.0001 par value: 10,000,000  shares authorized; Series A Convertible Preferred Stock, $0.0001 stated value per share, 1,360,000 shares designated; nil and 750,000 shares issued and outstanding as of April 30, 2022 and April 30, 2021, respectively		75
Common stock, $0.0001 par value: 300,000,000 shares authorized; 95,481,790 and 67,429,525 shares issued and outstanding as of April 30, 2022 and April 30, 2021, respectively	9,548	6,743
Additional paid-in capital	57,419,753	33,721,860
Note receivable for common stock – related party	(14,883,295)	(14,883,295)
Accumulated deficit	(29,194,495)	(16,832,436)
TOTAL STOCKHOLDERS’ EQUITY	13,351,511	2,012,947
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 14,516,443	$ 2,912,590

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Apr. 30, 2022	Apr. 30, 2021
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	95,481,790	67,429,525
Common stock, shares outstanding	95,481,790	67,429,525
Series A Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	8,640,000
Preferred stock shares designated	1,360,000	1,360,000
Preferred stock, shares issued	0	750,000
Preferred stock, shares outstanding	0	750,000

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
OPERATING EXPENSES
Research and development	$ 5,201,314	$ 1,310,716
General and administrative	7,118,221	3,641,172
Total operating expenses	12,319,535	4,951,888
Loss from operations	(12,319,535)	(4,951,888)
OTHER INCOME (EXPENSE), NET
Gain on extinguishment of debt	4,000	62,418
Interest expense	(46,524)	(142,421)
Interest expense - related party		(16,382)
Interest income - related party		1,706
Total other expense, net	(42,524)	(94,679)
NET LOSS	$ (12,362,059)	$ (5,046,567)
Basic and diluted net loss per common share	$ (0.14)	$ (0.07)
Basic and diluted weighted average common   shares outstanding	89,095,274	72,650,073

Statements of Changes in Stockh

Statements of Changes in Stockholders' Equity - USD ($)	Series A Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Note Recievable for Common Stock Related Party [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Apr. 30, 2020	$ 75	$ 6,476	$ 27,584,227	$ (14,983,200)	$ (11,785,869)	$ 821,709
Beginning balance (in shares) at Apr. 30, 2020	750,000	64,762,858
Issuance of common stock & warrants-related party, net		$ 267	3,999,733			4,000,000
Issuance of common stocks & warrants related party, net (in shares)		2,666,667
Stock-based compensation to employees and consultants			2,032,359			2,032,359
Issuance of common stock, note receivable – related party				99,905		99,905
Fair value of warrants issued in connection with convertible notes			91,241			91,241
Fair value of warrants issued in connection with convertible notes- related party			14,300			14,300
Net loss					(5,046,567)	(5,046,567)
Ending balance, value at Apr. 30, 2021	$ 75	$ 6,743	33,721,860	(14,883,295)	(16,832,436)	2,012,947
Ending balance (in shares) at Apr. 30, 2021	750,000	67,429,525
Issuance of common stock & warrants-related party, net		$ 400	5,999,600			6,000,000
Issuance of common stocks & warrants related party, net (in shares)		4,000,000
Stock-based compensation to employees and consultants			4,408,569			4,408,569
Net loss					(12,362,059)	(12,362,059)
Issuance of common stock for restricted stock awards		$ 42	(42)
Issuance of common stock for restricted stock awards (in shares)		425,000
Proceeds from stock option exercise		$ 550	1,650			2,200
Proceeds from stock option exercise (in shares)		5,500,000
Proceeds from initial public offering, net of underwriters' discounts and commissions and issuance costs of $1.5 million		$ 288	12,911,168			12,911,456
Proceeds from initial public offering, net of underwriters' discounts and commission and issuance costs of $1.5 million (in shares)		2,875,000
Issuance of shares of common stock for conversion of debt		$ 25	378,373			378,398
Issuance of shares of common stock for conversion of debt (in shares)		252,265
Conversion of Series A convertible stock	$ (75)	$ 1,500	(1,425)
Conversion of series A convertible (in shares)	(750,000)	15,000,000
Ending balance, value at Apr. 30, 2022		$ 9,548	$ 57,419,753	$ (14,883,295)	$ (29,194,495)	$ 13,351,511
Ending balance (in shares) at Apr. 30, 2022		95,481,790

Statements of Changes in Stoc_2

Statements of Changes in Stockholders' Equity (Parenthetical)	12 Months Ended
	Apr. 30, 2022 USD ($)
Statement of Stockholders' Equity [Abstract]
Proceeds from Issuance Initial Public Offering	$ 1,500,000

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Cash flows from operating activities:
Net loss	$ (12,362,059)	$ (5,046,567)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	3,549
Interest expense - debt discount	12,770	124,046
Interest expense - debt discount, related party		14,300
Gain on extinguishment of debt	(4,000)	(62,418)
Stock-based compensation to employees and consultants	4,408,569	2,032,359
Non-cash expense from issuance of common stock		378,704
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	633,597	260,791
Accounts payable and accrued expenses	693,584	(413,242)
Net cash used in operating activities	(6,613,990)	(2,712,027)
Cash flows from investing activities:
Proceeds from repayments of notes receivable - related party		100,915
Purchase of machinery	(106,458)
Net cash provided by investing activities	(106,458)	100,915
Cash flows from financing activities:
Proceeds from the issuance of common stock and warrants - related party, net	6,000,000	2,100,000
Proceeds from stock option exercise	2,200
Payments of related party payable	(58,667)	(1,918)
Proceeds from short-term advances, related party		1,850,000
Proceeds from note payable		62,110
Proceeds from note receivable for common stock – related party		99,905
Proceeds from convertible note payable		290,000
Proceeds from convertible note payable, related party		50,000
Proceeds from initial public offering, net of underwriters’ discounts and commissions and issuance costs	12,911,456
Net cash provided by financing activities	18,854,989	4,450,097
Net increase in cash	12,134,541	1,838,985
Cash at beginning of period	1,929,270	90,285
Cash at end of period	14,063,811	1,929,270
Non-cash financing activities:
Conversion of Series A preferred stock	1,425
Fair value of warrants issued in connection with initial public offering	194,490
Fair value of warrants issued in connection with March 2021 securities purchase agreement, related party	5,374,509
Fair value of warrants issued in connection with convertible notes payable, related party		14,300
Fair value of warrants issued in connection with convertible notes payable		91,241
Issuance of common stock in payment of short-term advances, related party		1,850,000
Issuance of common stock on conversion of note	378,398
Issuance of common stock in payment of convertible notes payable, related party		50,000
Accrued interest payable for common stock		$ 12,498

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	12 Months Ended
	Apr. 30, 2022
Accounting Policies [Abstract]
DESCRIPTION OF BUSINESS	1. DESCRIPTION OF BUSINESS Alzamend Neuro, Inc. (the “Company” or “Alzamend”), is an early clinical-stage biopharmaceutical company focused on developing novel products for the treatment of neurodegenerative diseases and psychiatric disorders. The Company’s primary focus is Alzheimer’s disease. With two current and future product candidates, Alzamend aims to bring treatments or cures to market at a reasonable cost as quickly as possible. The Company’s current pipeline consists of two novel therapeutic drug candidates (collectively, the “Technology”): (i) a patented ionic cocrystal technology delivering a therapeutic combination of lithium, proline and salicylate, known as AL001, through two royalty-bearing exclusive worldwide licenses from the University of South Florida Research Foundation, Inc., as licensor (the “Licensor”); and (ii) a patented method using a mutant peptide sensitized cell as a cell-based therapeutic vaccine that seeks to restore the ability of a patient’s immunological system to combat Alzheimer’s, known as AL002 or CA022W, through a royalty-bearing exclusive worldwide license from the same Licensor. The Company is devoting substantially all its efforts towards research and development of its Technology and raising capital. The Company has not generated any product revenue to date. The Company has financed its operations to date primarily through debt financings and through the sale of its common stock, par value $ 0.0001

LIQUIDITY, GOING CONCERN AND MA

LIQUIDITY, GOING CONCERN AND MANAGEMENT’S PLANS	12 Months Ended
	Apr. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
LIQUIDITY, GOING CONCERN AND MANAGEMENT’S PLANS	2. LIQUIDITY, GOING CONCERN AND MANAGEMENT’S PLANS The accompanying financial statements have been prepared on the basis that the Company will continue as a going concern. As of April 30, 2022, the Company had cash of $ 14.1 million 29.2 million 1.9 million 16.8 million In March of 2021, the Company entered into a securities purchase agreement (the “SPA”) with DPL, a California limited liability company (“DPL”) and wholly owned subsidiary of BitNile Holdings, Inc. (“BitNile”), a related party, pursuant to which the Company agreed to sell an aggregate of 6,666,667 10 1.50 4 1.8 million 50,000 2,666,667 2 6,666,667 3.00 10 The Company expects to continue to incur losses for the foreseeable future and needs to raise additional capital until it is able to generate revenues from operations sufficient to fund its development and commercial operations. However, based on the Company’s current business plan, management believes that the Company’s cash and cash equivalents at April 30, 2022 are sufficient to meet the Company’s anticipated cash requirements during the twelve-month period subsequent to the issuance of the financial statements included in this Annual Report.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Apr. 30, 2022
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	3. SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “Commission”). Accounting Estimates The preparation of financial statements, in conformity with U.S. GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company’s critical accounting policies that involve significant judgment and estimates include research and development, share-based compensation, warrant valuation, and valuation of deferred income taxes. Actual results could differ from those estimates. Cash and Cash Equivalents The Company considers all highly liquid investments with a remaining maturity of three months or less when purchased to be cash equivalents. As of April 30, 2022 and 2021, the Company had no cash equivalents. Fair Value of Financial Instruments Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820, Fair Value Measurement Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 assumptions: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities including liabilities resulting from imbedded derivatives associated with certain warrants to purchase common stock. The fair values of warrants issued in connection with equity or debt issuance are determined using the Black-Scholes valuation model, a “Level 3” fair value measurement, based on the estimated fair value of the underlying common stock, volatility based on the historical volatility data of similar companies, considering the industry, products and market capitalization of such other entities, the expected life based on the remaining contractual term of the conversion option and warrants and the risk free interest rate based on the implied yield available on U.S. Treasury Securities with a maturity equivalent to the warrants’ contractual life. Income Taxes The Company determines its income taxes under the asset and liability method. Under the asset and liability approach, deferred income tax assets and liabilities are calculated and recorded based upon the future tax consequences of temporary differences by applying enacted statutory tax rates applicable to future periods for differences between the financial statements carrying amounts and the tax basis of existing assets and liabilities. Generally, deferred income taxes are classified as current or non-current in accordance with the classification of the related asset or liability. Those not related to an asset or a liability are classified as current or non-current depending on the periods in which the temporary differences are expected to reverse. Valuation allowances are provided for significant deferred income tax assets when it is more likely than not that some or all of the deferred tax assets will not be realized. As of April 30, 2022, the Company had fully reserved the net deferred income tax assets by taking a full valuation allowance against these assets. The Company recognizes tax liabilities by prescribing a minimum probability threshold that a tax position must meet before a financial statement benefit is recognized and also provides guidance on de-recognition, measurement, classification, interest and penalties, accounting in interim periods, disclosure and transition. The minimum threshold is defined as a tax position that is more likely than not to be sustained upon examination by the applicable taxing authority, including resolution of any related appeals or litigation processes, based on the technical merits of the position. The tax benefit to be recognized is measured as the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. To the extent that the final tax outcome of these matters is different than the amount recorded, such differences impact income tax expense in the period in which such determination is made. Interest and penalties, if any, related to accrued liabilities for potential tax assessments are included in income tax expense. U.S. GAAP also requires management to evaluate tax positions taken by the Company and recognize a liability if the Company has taken uncertain tax positions that more likely than not would not be sustained upon examination by applicable taxing authorities. Management of the Company has evaluated tax positions taken by the Company and has concluded that as of April 30, 2022, there were no uncertain tax positions taken, or expected to be taken, that would require recognition of a liability that would require disclosure in the financial statements. Research and Development Expenses Research and development costs are expensed as incurred. Research and development costs consist of scientific consulting fees and lab supplies, as well as fees paid to clinical research organizations that conduct certain research and development activities on behalf of the Company. The Company has acquired and may continue to acquire the rights to develop and commercialize new product candidates from third parties. The upfront payments to acquire licenses, products or rights, as well as any future milestone payments, are immediately recognized as research and development expense provided that there is no alternative future use of the rights in other research and development projects. Stock-Based Compensation The Company recognizes stock-based compensation expense for stock options on a straight-line basis over the requisite service period and accounts for forfeitures as they occur. The Company’s stock-based compensation costs are based upon the grant date fair value of options estimated using the Black-Scholes option pricing model. To the extent any stock option grants are made subject to the achievement of a performance-based milestone, management evaluates when the achievement of any such performance-based milestone is probable based on the satisfaction of the performance conditions as of the reporting date. The Company recognizes stock-based compensation expense for restricted stock on a straight-line basis over the requisite service period and accounts for forfeitures as they occur. The Company’s stock-based compensation for restricted stock is based upon the estimated fair value of the Company’s common stock. The Black-Scholes option pricing model utilizes inputs which are highly subjective assumptions and generally require significant judgment. Certain of such assumptions involve inherent uncertainties and the application of significant judgment. As a result, if factors or expected outcomes change and the Company uses significantly different assumptions or estimates, the Company’s stock-based compensation could be materially different. Warrants The Company accounts for stock warrants as either equity instruments, derivative liabilities, or liabilities in accordance with ASC 480, Distinguishing Liabilities from Equity Derivatives and Hedging , During the year ended April 30, 2022, based on the terms of the Company’s warrant agreements, the Company accounted for the warrants as equity instruments as the warrants were indexed to the common stock, required settlement in shares and would be classified as equity under ASC 815. Loss per Common Share The Company utilizes FASB ASC Topic No. 260, Earnings per Share Since the effects of outstanding options, warrants and convertible preferred stock are anti-dilutive in the periods presented, shares of common stock underlying these instruments have been excluded from the computation of loss per common share. The following sets forth the number of shares of common stock underlying outstanding convertible preferred stock, options, warrants, and convertible notes that have been excluded from the computation of loss per common share: For the Year Ended April 30, 2022 2021 Series A convertible preferred stock - 15,000,000 Stock options (1) 13,700,000 16,300,000 Restricted stock 187,510 - Warrants 10,149,788 6,769,635 Convertible notes - 245,999 24,037,298 38,315,634 (1) The Company has excluded 2,000,000 0.0004 Recent Accounting Standards From time to time, new accounting pronouncements are issued by the FASB and adopted by the Company as of the specified effective date. Unless otherwise discussed, the impact of recently issued standards that are not yet effective are not expected to have a material impact on the Company’s financial position or results of operations upon adoption. In October 2020, the FASB issued ASU 2020-10, Codification Improvements to make incremental improvements to GAAP and address stakeholder suggestions, including, among other things, clarifying that the requirement to provide comparative information in the financial statements extends to the corresponding disclosures section. The Company adopted the ASU effective May 1, 2021. The amendments in this update should be applied retrospectively and at the beginning of the period that includes the adoption date. The impact of adopting the ASU was immaterial to the consolidated results of operations, cash flows, financial position, and disclosures. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes In August 2020, the FASB issued ASU 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40) The Company has considered all other recently issued accounting standards and does not believe the adoption of such standards will have a material impact on its financial statements.

NOTE RECEIVABLE, RELATED PARTY,

NOTE RECEIVABLE, RELATED PARTY, NET	12 Months Ended
	Apr. 30, 2022
Note Receivable Related Party Net
NOTE RECEIVABLE, RELATED PARTY, NET	4. NOTE RECEIVABLE, RELATED PARTY, NET On April 30, 2019, the Company and Ault Life Science Fund, LLC (“ALSF”), a related party, entered into a securities purchase agreement for the purchase of 10,000,000 15,000,000 5,000,000 5 3.00 14,883,295

PREPAID EXPENSES AND OTHER CURR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	12 Months Ended
	Apr. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
PREPAID EXPENSES AND OTHER CURRENT ASSETS	5. PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets are as follows: April 30, 2022 April 30, 2021 Prepaid consulting fees $ 186,667 $ 613,758 Prepaid insurance 155,880 - Other prepaid expenses 7,176 353,352 Other receivables - 16,210 Total prepaid expenses and other current assets $ 349,723 $ 983,320 On June 14, 2021, the Company purchased directors and officers insurance for twelve months at an annual premium amount of $ 855,000

INCOME TAXES

INCOME TAXES	12 Months Ended
	Apr. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	6. INCOME TAXES The following is a geographical breakdown of the Company’s loss before the provision for income taxes: April 30, 2022 April 30, 2021 Pre-tax loss: Federal $ (12,362,059 ) $ (5,046,567 ) Foreign - - Total pre-tax income (loss) $ (12,362,059 ) $ (5,046,567 ) Significant components of the Company’s deferred tax assets are as follows: April 30, 2022 April 30, 2021 Deferred income tax asset: Net operating loss carryover $ 8,376,539 $ 3,360,381 Stock compensation 1,722,003 994,264 Total deferred tax asset 10,098,542 4,354,645 Fixed assets (21,611 ) - Valuation allowance (10,076,931 ) (4,354,645 ) Deferred income tax asset, net of allowance $ - $ - A reconciliation of the federal statutory income tax rate to the Company’s effective income tax rate for the years ended April 30, 2022 and 2021, is as follows: 2022 2021 Tax benefit at U.S. Federal statutory tax rate 21.0 % 21.0 % State income tax, net of federal benefit 12.3 % 18.6 % Increase (decrease) in tax rate resulting from: Change in valuation allowance -46.3 % -34.5 % Stock compensation 13.0 % -2.9 % Other 0.0 % -2.2 % Effective tax rate 0.0 % 0.0 % In assessing the realization of deferred tax assets, management considers whether it is more likely than not the Company’s deferred tax assets will be realized. Management considers the scheduled reversal of deferred tax assets, projected future taxable income and tax planning strategies in making such assessment. Given historical generation of and expected future taxable losses, the Company determined it is not more likely than not to utilize its deferred tax assets. Therefore, a full valuation allowance was maintained, as of the years ended April 30, 2022 and 2021, of $ 10,076,931 4,354,645 At April 30, 2022, the Company maintained US Federal and state net operating loss (“NOL”) carryovers of approximately $ 29,110,836 32,362,154 382 (“IRC 382”), the future deductibility of the Company’s NOLs may be subject to an annual limitation in the event of a change in control as defined by applicable regulations. The Company has yet to complete a formal study to confirm NOLs are not limited in utilization per IRC 382 and may reduce applicable deferred tax assets upon completion of such a study, in future periods. The impact of an uncertain income tax position on the income tax return must be recognized at the largest amount that is more likely than not to be sustained upon audit by the relevant taxing authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. The Company had no uncertain tax positions as of April 30, 2022. The Company’s policy is to recognize interest and penalties related to income tax matters in the provision for income taxes. As of April 30, 2022, no interest or penalties have been recorded pertaining to uncertain tax positions. The Company is subject to taxation in the United States and various U.S. state jurisdictions. All tax years remain open to examination by the Internal Revenue Service and relevant state authorities. On December 27, 2020, the Consolidated Appropriations Act, 2021 (“CAA 2021”) which included a number of provisions including, but not limited to the extension of numerous employment tax credits, the extension of the Section 179D deduction, enhanced business meals deductions, and the deductibility of expenses paid with Paycheck Protection Program loan funds that are forgiven, was signed into law. Accordingly, the effects of the CAA 2021 have been incorporated into the income tax provision for the year ended April 30, 2022. These provisions did not have a material impact on the income tax provision.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Apr. 30, 2022
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	7. STOCK-BASED COMPENSATION 2016 Stock Incentive Plan On April 30, 2016, the Company’s stockholders approved the Company’s 2016 Stock Incentive Plan (the “Plan”). The Plan provides for the issuance of a maximum of 12,500,000 7,500,000 five 10 2021 Stock Incentive Plan In February 2021, the Company’s board of directors (the “Board”) adopted, and the stockholders approved, the Alzamend Neuro, Inc. 2021 Stock Incentive Plan (the “2021 Plan”). The 2021 Plan authorizes the grant to eligible individuals of (1) stock options (incentive and non-statutory), (2) restricted stock, (3) stock appreciation rights, or SARs, (4) restricted stock units, and (5) other stock-based compensation. Stock Subject to the 2021 Plan. Restricted Stock. the Company issued restricted stock awards pursuant to the 2021 Plan to one employee and four independent Board members. The restricted stock awards vest over 48 months for the employee and 12 months for the independent Board members. Stock Options. A summary of stock option activity for the period May 1, 2020 to April 30, 2022, is presented below: Outstanding Options Shares Number of Weighted Weighted Aggregate Balance at April 30, 2020 575,000 19,425,000 $ 0.6964 6.89 $ 15,609,500 Increase to plan shares 10,000,000 Options granted (125,000 ) 125,000 $ 1.5000 Balance at April 30, 2021 10,450,000 19,550,000 $ 0.7195 5.92 $ 35,159,500 Options granted (1,950,000 ) 1,950,000 $ 2.7195 Options exercised - (5,500,000 ) $ 0.0004 Options cancelled/forfeited 300,000 (300,000 ) $ 1.5000 Balance at April 30, 2022 8,800,000 15,700,000 $ 1.2017 6.10 $ 2,219,700 Options vested and expected to vest at April 30, 2022 13,700,000 $ 1.2311 6.62 $ 2,179,700 Options exercisable at April 30, 2022 13,460,519 $ 1.0345 6.15 $ 2,155,022 The aggregate intrinsic value in the table above represents the total pretax intrinsic value (i.e., the difference between the estimated fair value on the respective date and the exercise price, times the number of shares) that would have been received by the option holders had all option holders exercised their options. Stock Options Granted to Employees and Consultants The estimated fair value of stock options granted to employees and consultants during the years ended April 30, 2022 and 2021 were calculated using the Black-Scholes option-pricing model using the following assumptions: For the Year Ended April 30, 2022 2021 Expected term (in years) 6.25 3.50 6.25 Volatility 88.94 85.53 100.1 Risk-free interest rate 2.20 0.31 0.51 Dividend yield 0.0 0.0 Expected Term: Expected Volatility: Risk-Free Interest Rate: Expected Dividend: Stock-based compensation related to restricted stock grants and stock options were $ 1.1 million 2.9 million 383,000 4.4 million 2.4 million Performance Contingent Stock Options Granted to Employee In November 2018, the Board granted 2,000,000 1.00 These options have two separate performance triggers for vesting based upon the therapies achieving certain FDA approval milestones within a specified timeframe. By definition, the performance condition in these options can only be achieved after the performance condition of FDA approval has been achieved. As such, the requisite service period is based on the estimated period over which the market condition can be achieved. When a performance goal is deemed to be probable of achievement, time-based vesting and recognition of stock-based compensation expense commences. In the event any of the milestones are not achieved by the specified timelines, such vesting award will terminate and no longer be exercisable with respect to that portion of the shares. The maximum potential expense associated with the performance-contingent awards is $ 1.2 million On November 26, 2019, the Board granted 4,250,000 In the event any of the stock price milestones are not achieved within three Performance Contingent Stock Options Granted to Consultants - TAMM Net On March 23, 2021, the Company issued performance-based stock options to certain team members at TAMM Net, Inc. to purchase an aggregate of 450,000 As of April 30, 2022, the Company has completed the Phase I clinical trial of AL001. The Company recognized stock-based compensation related to the completion of the Phase I clinical trial of AL001 by March 31, 2022. Due to the significant risks and uncertainties associated with achieving the completion of Phase I for AL002, as of April 30, 2022, the Company believed that the achievement of the requisite performance conditions was not probable and, as a result, no compensation cost has been recognized for these awards related to AL002. Performance Contingent Stock Options Granted to Consultants - Other Consultants On October 14, 2021, the Company issued performance-based stock options to two consultants to purchase an aggregate of 200,000 shares of common stock with an exercise price of $2.42 per share, of which 50,000 vest upon completion of each of the Phase II clinical trials of AL001 for a bipolar indication, AL001 for a PTSD indication, AL001 for a MDD indication and AL002 for an Alzheimer’s indication. As of April 30, 2022, the Company believed that the achievement of the requisite performance conditions was not probable and, as a result, no compensation cost has been recognized for these awards related to Phase II of AL001 and AL002. Stock-Based Compensation Expense The Company’s results of operations include expenses relating to stock-based compensation for the years ended April 30, 2022 and 2021, were comprised as follows: For the Year Ended April 30, 2022 2021 Research and development $ 423,167 $ 87,252 General and administrative 3,985,402 2,323,811 Total $ 4,408,569 $ 2,411,063 As of April 30, 2022, total unamortized stock-based compensation expense related to unvested employee and non-employee awards that are expected to vest was $ 4.5 million 1.8

WARRANTS

WARRANTS	12 Months Ended
	Apr. 30, 2022
Warrants
WARRANTS	8. WARRANTS Warrant Issuances During 2022 During the year ended April 30, 2022, the Company issued warrants to purchase an aggregate of 2,000,000 3.00 61,250 6.25 (i) On June 17, 2021, the Company issued a warrant to purchase an aggregate of 61,250 6.25 (ii) On July 28, 2021, the Company received from the FDA a “Study May Proceed” letter for a Phase I study under the Company’s IND application for AL001. Based on the achievement of this milestone, the Company sold an additional 1,333,333 2 1.50 666,667 3.00 (iii) On March 28, 2022, the Company received the full data set from the Phase I clinical trial for AL001. Based on the achievement of this milestone, on April 28, 2022, under the SPA, the Company sold an additional 2,666,667 4 1.50 Warrant Issuances During 2021 During the year ended April 30, 2021, the Company issued warrants to purchase an aggregate of 123,000 shares of common stock at an exercise price of $3.00 per share. (i) On August 11, 2020, the Company issued a warrant to purchase an aggregate of 91,667 shares of common stock at an exercise price equal to $3.00 per share of common stock in connection with the issuance of a convertible promissory note in the principal amount of $275,000. Based on the terms of the Company’s warrant agreement, the Company accounted for the warrant as an equity instrument as the warrant is indexed to the Company’s common stock, require settlement in shares and would be classified as equity under ASC 815. (ii) On August 31, 2020, the Company issued a warrant to purchase an aggregate of 16,667 shares of common stock at an exercise price equal to $3.00 per share of common stock in connection with the issuance of a convertible promissory note, related party in the principal amount of $50,000. Based on the terms of the Company’s warrant agreement, the Company accounted for the warrant as equity instrument as the warrant is indexed to the Company’s common stock, require settlement in shares and would be classified as equity under ASC 815. (iii) In December 2020, the Company issued a warrant to purchase an aggregate of 14,666 shares of common stock at an exercise price equal to $3.00 per share of common stock in connection with the issuance of a convertible promissory note in the principal amount of $44,000. Based on the terms of the Company’s warrant agreement, the Company accounted for the warrant as equity instruments as the warrant is indexed to the Company’s common stock, require settlement in shares and would be classified as equity under ASC 815. The following table summarizes information about common stock warrants outstanding at April 30, 2022: Outstanding Exercisable Weighted Average Weighted Weighted Remaining Average Average Exercise Number Contractual Exercise Number Exercise Price Outstanding Life (years) Price Exercisable Price $ 1.00 500,000 1.8 $ 1.00 500,000 $ 1.00 $ 1.75 161,342 2.5 $ 1.75 161,342 $ 1.75 $ 3.00 9,427,196 2.9 $ 3.00 9,427,196 $ 3.00 $ 6.25 61,250 4.1 $ 6.25 61,250 $ 6.25 $ 1.00 6.25 10,149,788 2.9 $ 2.90 10,149,788 $ 2.90 The estimated fair value of warrants granted during the years ended April 30, 2022 and 2021, were calculated using the Black-Scholes option-pricing model using the following assumptions: For the Year Ended April 30, 2022 2021 Expected term (in years) 5.00 5.00 Volatility 88.94% 103.70% Risk-free interest rate 2.92% 0.27 0.28 Dividend yield 0.0% 0.0% Expected Term: Expected Volatility: Risk-Free Interest Rate: Expected Dividend:

OTHER RELATED PARTY TRANSACTION

OTHER RELATED PARTY TRANSACTIONS	12 Months Ended
	Apr. 30, 2022
Related Party Transactions [Abstract]
OTHER RELATED PARTY TRANSACTIONS	9. OTHER RELATED PARTY TRANSACTIONS In March 2021, the Company entered into the SPA with DPL pursuant to which the Company agreed to sell an aggregate of 6,666,667 10 DPL paid $4 million, less the $1.8 million in prior advances and the surrender for cancellation of a $50,000 convertible promissory note held by BitNile, for an aggregate of 2,666,667 shares of common stock. Under the terms of the SPA, DPL (i) purchased an additional 1,333,333 shares of common stock upon approval of the IND for Phase I clinical trials for AL001 for a purchase price of $2 million; and (ii) purchased 2,666,667 shares of common stock upon the completion of the Phase I clinical trials for AL001 for a purchase price of $4 million In addition, the Company issued DPL warrants to purchase an aggregate of 6,666,667 shares of common stock at an exercise price of $3.00 per share. Finally, the Company agreed that for a period of eighteen (18) months following the date of the payment of the final tranche of $4 million, DPL will have the right to invest an additional $10 million on the same terms, except that no specific milestones have been determined with respect to the additional $10 million as of the date of this Annual Report In May 2021, the Board and Mr. Ault, the Company’s Founder and Chairman Emeritus, agreed to certain arrangements with regard to Board composition and other matters. Contemporaneously with the effectiveness of the IPO, and in consideration for (i) the conversion of 750,000 shares of the Company’s Series A Preferred Shares beneficially owned by Mr. Ault through Ault Life Sciences, Inc. into 15,000,000 shares of common stock; (ii) the extension of the maturity date of the note in the original principal amount of $15,000,000 issued to the Company by ALSF, an entity controlled by Mr. Ault, to December 31, 2023; and (iii) the resignation by Mr. Ault as a director and executive officer of the Company 5 50,000 50,000 88,000 On June 15, 2021, DPL, a related party, purchased 2,000,000 5.00

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Apr. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	10. COMMITMENTS AND CONTINGENCIES Contractual Obligations On May 1, 2016, the Company entered into a Standard Exclusive License Agreement for AL002 with Sublicensing Terms with Licensor, pursuant to which Licensor granted the Company a royalty bearing exclusive worldwide license limited to the field of Alzheimer’s Immunotherapy and Diagnostics, under United States Patent No. 8,188,046, entitled “Amyloid Beta Peptides and Methods of Use,” filed April 7, 2009 and granted May 29, 2012. There are certain initial license fees and milestone payments required to be paid by the Company to the Licensor pursuant to the terms of license agreements. The license agreements for AL002 require the Company to pay royalty payments of 4 4.5 The Company has already paid an initial license fee of $200,000 for AL002 and an initial license fee of $200,000 for AL001. As an additional licensing fee for the license of AL002, the Licensor received 3,601,809 shares of common stock. As an additional licensing fee for the license of the AL001 technologies, the Licensor received 2,227,923 shares of common stock. Minimum royalties for AL001 are $25,000 in 2023, $45,000 in 2024 and $70,000 in 2025 and every year thereafter, for the life of the agreement. Minimum royalties for AL002 are $20,000 in 2022, $40,000 in 2023 and $50,000 in 2024 and every year thereafter, for the life of the respective agreement. Original AL001 License: Payment Due Date Event $ 50,000 * Completed September 2019 Pre-IND meeting $ 65,000 * Completed June 2021 IND application filing $ 190,000 * Completed December 2021 Upon first dosing of patient in a clinical trial $ 500,000 * Completed March 2022 Upon Completion of first clinical trial $ 1,250,000 12 months from completion of the first Phase II clinical trial Upon first patient treated in a Phase III clinical trial $ 10,000,000 8 years from the effective date of the agreement Upon FDA approval * Milestone met and completed AL002 License: Payment Due Date Event $ 50,000 * Completed January 2022 Upon IND application filing $ 50,000 12 months from IND application filing date Upon first dosing of patient in first Phase I clinical trial $ 175,000 12 months from first patient dosed in Phase I Upon completion of first Phase I clinical trial $ 500,000 24 months from completion of first Phase I clinical trial Upon completion of first Phase II clinical trial $ 1,000,000 12 months from completion of the first Phase II clinical trial Upon first patient treated in a Phase III clinical trial $ 10,000,000 7 years from the effective date of the agreement Upon FDA BLA approval The Company has met the pre-IND meeting, IND application filing, and successfully completed the Phase I clinical trial milestones encompassing AL001. If the Company fails to meet a milestone by its specified date, the Licensor may terminate the license agreement. Licensor was also granted a preemptive right to acquire such shares or other equity securities that may be issued from time to time by the Company while Licensor remains the owner of any equity securities of the Company. On June 10, 2020, the Company obtained two (2) additional royalty-bearing exclusive worldwide licenses from the Licensor to a therapy named AL001. One of the additional licenses is for the treatment of neurodegenerative diseases excluding Alzheimer’s and the other license is for the treatment of psychiatric diseases and disorders. There are certain license fees and milestone payments required to be paid pursuant to the terms of the Standard Exclusive License Agreements with Sublicensing Terms, both dated June 10, 2020 and effective as of November 1, 2019, with the Licensor and the University of South Florida (the “June AL001 License Agreements”). Under each of the June AL001 License Agreements, a royalty payment of 3 20,000 Additional AL001 Licenses: Payment Due Date Event $ 50,000 Upon IND application filing IND application filing $ 150,000 12 months from IND filing date Upon first dosing of patient in a clinical trial $ 400,000 12 months from first patient dosing Upon Completion of first clinical trial $ 1,000,000 36 months from completion of the first Phase II clinical trial Upon first patient treated in a Phase III clinical trial $ 8,000,000 8 years from the effective date of the agreement First commercial sale

CONVERTIBLE NOTES

CONVERTIBLE NOTES	12 Months Ended
	Apr. 30, 2022
Debt Disclosure [Abstract]
CONVERTIBLE NOTES	11. CONVERTIBLE NOTES In February 2021, the Company entered into a securities purchase agreement with an institutional investor to sell a convertible promissory note in the aggregate principal amount of $ 348,000 335,000 10 1.50 The fair value of equity warrants related to the August 2020 and December 2020 convertible promissory note was recorded as a discount to the convertible promissory note with a corresponding increase to additional paid-in capital. The Company computed the estimated fair value of the warrants using the Black-Scholes option pricing model and, as a result of this calculation, recorded debt discount in the amount of $ 13,000 0.27 103.7 137,000 46,000

EQUITY TRANSACTIONS

EQUITY TRANSACTIONS	12 Months Ended
	Apr. 30, 2022
Equity [Abstract]
EQUITY TRANSACTIONS	12. EQUITY TRANSACTIONS The Company is authorized to issue 10,000,000 0.0001 1,360,000 8,640,000 Series A Preferred Shares In connection with the closing of the IPO, all of the outstanding Series A Preferred Shares were converted into 15,000,000 Common Stock On April 30, 2019, the Company and ALSF entered into a securities purchase agreement for the purchase of 10,000,000 15,000,000 1.50 5,000,000 5 3.00 15,000,000 12 In March 2021, the Company entered into the SPA with DPL pursuant to which the Company agreed to sell an aggregate of 6,666,667 10 1.50 4 1.8 million 50,000 2,666,667 DPL (i) purchased an additional 1,333,333 shares of common stock upon approval by the FDA of the Company’s IND for its Phase IA clinical trials for AL001 for a purchase price of $2 million; and (ii) purchased 2,666,667 shares of Common Stock upon the completion of these Phase IA clinical trials for AL001 for a purchase price of $4 million. In addition, the Company issued DPL warrants to purchase an aggregate of 6,666,667 shares of common stock at an exercise price of $3.00 per share Finally, the Company agreed that for a period of 18 months following the date of the payment of the final tranche of $4 million, DPL will have the right to invest an additional $ 10 10 On June 17, 2021, the Company sold an aggregate of 2,875,000 375,000 5.00 14.4 million 12.9 million 2,000,000 10.0 million 5.00

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Apr. 30, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	13. SUBSEQUENT EVENTS The Company has evaluated subsequent events through the date the financial statements were issued. The Company has determined that there are no such events that warrant disclosure or recognition in the condensed financial statements presented herein.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Apr. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “Commission”).
Accounting Estimates	Accounting Estimates The preparation of financial statements, in conformity with U.S. GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company’s critical accounting policies that involve significant judgment and estimates include research and development, share-based compensation, warrant valuation, and valuation of deferred income taxes. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with a remaining maturity of three months or less when purchased to be cash equivalents. As of April 30, 2022 and 2021, the Company had no cash equivalents.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820, Fair Value Measurement Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 assumptions: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities including liabilities resulting from imbedded derivatives associated with certain warrants to purchase common stock. The fair values of warrants issued in connection with equity or debt issuance are determined using the Black-Scholes valuation model, a “Level 3” fair value measurement, based on the estimated fair value of the underlying common stock, volatility based on the historical volatility data of similar companies, considering the industry, products and market capitalization of such other entities, the expected life based on the remaining contractual term of the conversion option and warrants and the risk free interest rate based on the implied yield available on U.S. Treasury Securities with a maturity equivalent to the warrants’ contractual life.
Income Taxes	Income Taxes The Company determines its income taxes under the asset and liability method. Under the asset and liability approach, deferred income tax assets and liabilities are calculated and recorded based upon the future tax consequences of temporary differences by applying enacted statutory tax rates applicable to future periods for differences between the financial statements carrying amounts and the tax basis of existing assets and liabilities. Generally, deferred income taxes are classified as current or non-current in accordance with the classification of the related asset or liability. Those not related to an asset or a liability are classified as current or non-current depending on the periods in which the temporary differences are expected to reverse. Valuation allowances are provided for significant deferred income tax assets when it is more likely than not that some or all of the deferred tax assets will not be realized. As of April 30, 2022, the Company had fully reserved the net deferred income tax assets by taking a full valuation allowance against these assets. The Company recognizes tax liabilities by prescribing a minimum probability threshold that a tax position must meet before a financial statement benefit is recognized and also provides guidance on de-recognition, measurement, classification, interest and penalties, accounting in interim periods, disclosure and transition. The minimum threshold is defined as a tax position that is more likely than not to be sustained upon examination by the applicable taxing authority, including resolution of any related appeals or litigation processes, based on the technical merits of the position. The tax benefit to be recognized is measured as the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. To the extent that the final tax outcome of these matters is different than the amount recorded, such differences impact income tax expense in the period in which such determination is made. Interest and penalties, if any, related to accrued liabilities for potential tax assessments are included in income tax expense. U.S. GAAP also requires management to evaluate tax positions taken by the Company and recognize a liability if the Company has taken uncertain tax positions that more likely than not would not be sustained upon examination by applicable taxing authorities. Management of the Company has evaluated tax positions taken by the Company and has concluded that as of April 30, 2022, there were no uncertain tax positions taken, or expected to be taken, that would require recognition of a liability that would require disclosure in the financial statements.
Research and Development Expenses	Research and Development Expenses Research and development costs are expensed as incurred. Research and development costs consist of scientific consulting fees and lab supplies, as well as fees paid to clinical research organizations that conduct certain research and development activities on behalf of the Company. The Company has acquired and may continue to acquire the rights to develop and commercialize new product candidates from third parties. The upfront payments to acquire licenses, products or rights, as well as any future milestone payments, are immediately recognized as research and development expense provided that there is no alternative future use of the rights in other research and development projects.
Stock-Based Compensation	Stock-Based Compensation The Company recognizes stock-based compensation expense for stock options on a straight-line basis over the requisite service period and accounts for forfeitures as they occur. The Company’s stock-based compensation costs are based upon the grant date fair value of options estimated using the Black-Scholes option pricing model. To the extent any stock option grants are made subject to the achievement of a performance-based milestone, management evaluates when the achievement of any such performance-based milestone is probable based on the satisfaction of the performance conditions as of the reporting date. The Company recognizes stock-based compensation expense for restricted stock on a straight-line basis over the requisite service period and accounts for forfeitures as they occur. The Company’s stock-based compensation for restricted stock is based upon the estimated fair value of the Company’s common stock. The Black-Scholes option pricing model utilizes inputs which are highly subjective assumptions and generally require significant judgment. Certain of such assumptions involve inherent uncertainties and the application of significant judgment. As a result, if factors or expected outcomes change and the Company uses significantly different assumptions or estimates, the Company’s stock-based compensation could be materially different.
Warrants	Warrants The Company accounts for stock warrants as either equity instruments, derivative liabilities, or liabilities in accordance with ASC 480, Distinguishing Liabilities from Equity Derivatives and Hedging , During the year ended April 30, 2022, based on the terms of the Company’s warrant agreements, the Company accounted for the warrants as equity instruments as the warrants were indexed to the common stock, required settlement in shares and would be classified as equity under ASC 815.
Loss per Common Share	Loss per Common Share The Company utilizes FASB ASC Topic No. 260, Earnings per Share Since the effects of outstanding options, warrants and convertible preferred stock are anti-dilutive in the periods presented, shares of common stock underlying these instruments have been excluded from the computation of loss per common share. The following sets forth the number of shares of common stock underlying outstanding convertible preferred stock, options, warrants, and convertible notes that have been excluded from the computation of loss per common share: For the Year Ended April 30, 2022 2021 Series A convertible preferred stock - 15,000,000 Stock options (1) 13,700,000 16,300,000 Restricted stock 187,510 - Warrants 10,149,788 6,769,635 Convertible notes - 245,999 24,037,298 38,315,634 (1) The Company has excluded 2,000,000 0.0004
Recent Accounting Standards	Recent Accounting Standards From time to time, new accounting pronouncements are issued by the FASB and adopted by the Company as of the specified effective date. Unless otherwise discussed, the impact of recently issued standards that are not yet effective are not expected to have a material impact on the Company’s financial position or results of operations upon adoption. In October 2020, the FASB issued ASU 2020-10, Codification Improvements to make incremental improvements to GAAP and address stakeholder suggestions, including, among other things, clarifying that the requirement to provide comparative information in the financial statements extends to the corresponding disclosures section. The Company adopted the ASU effective May 1, 2021. The amendments in this update should be applied retrospectively and at the beginning of the period that includes the adoption date. The impact of adopting the ASU was immaterial to the consolidated results of operations, cash flows, financial position, and disclosures. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes In August 2020, the FASB issued ASU 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40) The Company has considered all other recently issued accounting standards and does not believe the adoption of such standards will have a material impact on its financial statements.

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Apr. 30, 2022
Accounting Policies [Abstract]
The following sets forth the number of shares of common stock underlying outstanding convertible preferred stock, options, warrants, and convertible notes that have been excluded from the computation of loss per common share:	The following sets forth the number of shares of common stock underlying outstanding convertible preferred stock, options, warrants, and convertible notes that have been excluded from the computation of loss per common share: For the Year Ended April 30, 2022 2021 Series A convertible preferred stock - 15,000,000 Stock options (1) 13,700,000 16,300,000 Restricted stock 187,510 - Warrants 10,149,788 6,769,635 Convertible notes - 245,999 24,037,298 38,315,634 (1) The Company has excluded 2,000,000 0.0004

PREPAID EXPENSES AND OTHER CU_2

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)	12 Months Ended
	Apr. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid expenses and other current assets are as follows:	Prepaid expenses and other current assets are as follows: April 30, 2022 April 30, 2021 Prepaid consulting fees $ 186,667 $ 613,758 Prepaid insurance 155,880 - Other prepaid expenses 7,176 353,352 Other receivables - 16,210 Total prepaid expenses and other current assets $ 349,723 $ 983,320

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Apr. 30, 2022
Income Tax Disclosure [Abstract]
The following is a geographical breakdown of the Company’s loss before the provision for income taxes:	The following is a geographical breakdown of the Company’s loss before the provision for income taxes: April 30, 2022 April 30, 2021 Pre-tax loss: Federal $ (12,362,059 ) $ (5,046,567 ) Foreign - - Total pre-tax income (loss) $ (12,362,059 ) $ (5,046,567 )
Significant components of the Company’s deferred tax assets are as follows:	Significant components of the Company’s deferred tax assets are as follows: April 30, 2022 April 30, 2021 Deferred income tax asset: Net operating loss carryover $ 8,376,539 $ 3,360,381 Stock compensation 1,722,003 994,264 Total deferred tax asset 10,098,542 4,354,645 Fixed assets (21,611 ) - Valuation allowance (10,076,931 ) (4,354,645 ) Deferred income tax asset, net of allowance $ - $ -
A reconciliation of the federal statutory income tax rate to the Company’s effective income tax rate for the years ended April 30, 2022 and 2021, is as follows:	A reconciliation of the federal statutory income tax rate to the Company’s effective income tax rate for the years ended April 30, 2022 and 2021, is as follows: 2022 2021 Tax benefit at U.S. Federal statutory tax rate 21.0 % 21.0 % State income tax, net of federal benefit 12.3 % 18.6 % Increase (decrease) in tax rate resulting from: Change in valuation allowance -46.3 % -34.5 % Stock compensation 13.0 % -2.9 % Other 0.0 % -2.2 % Effective tax rate 0.0 % 0.0 %

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Apr. 30, 2022
Share-Based Payment Arrangement [Abstract]
A summary of stock option activity for the period May 1, 2020 to April 30, 2022, is presented below:	A summary of stock option activity for the period May 1, 2020 to April 30, 2022, is presented below: Outstanding Options Shares Number of Weighted Weighted Aggregate Balance at April 30, 2020 575,000 19,425,000 $ 0.6964 6.89 $ 15,609,500 Increase to plan shares 10,000,000 Options granted (125,000 ) 125,000 $ 1.5000 Balance at April 30, 2021 10,450,000 19,550,000 $ 0.7195 5.92 $ 35,159,500 Options granted (1,950,000 ) 1,950,000 $ 2.7195 Options exercised - (5,500,000 ) $ 0.0004 Options cancelled/forfeited 300,000 (300,000 ) $ 1.5000 Balance at April 30, 2022 8,800,000 15,700,000 $ 1.2017 6.10 $ 2,219,700 Options vested and expected to vest at April 30, 2022 13,700,000 $ 1.2311 6.62 $ 2,179,700 Options exercisable at April 30, 2022 13,460,519 $ 1.0345 6.15 $ 2,155,022
The estimated fair value of stock options granted to employees and consultants during the years ended April 30, 2022 and 2021 were calculated using the Black-Scholes option-pricing model using the following assumptions:	The estimated fair value of stock options granted to employees and consultants during the years ended April 30, 2022 and 2021 were calculated using the Black-Scholes option-pricing model using the following assumptions: For the Year Ended April 30, 2022 2021 Expected term (in years) 6.25 3.50 6.25 Volatility 88.94 85.53 100.1 Risk-free interest rate 2.20 0.31 0.51 Dividend yield 0.0 0.0
The Company’s results of operations include expenses relating to stock-based compensation for the years ended April 30, 2022 and 2021, were comprised as follows:	The Company’s results of operations include expenses relating to stock-based compensation for the years ended April 30, 2022 and 2021, were comprised as follows: For the Year Ended April 30, 2022 2021 Research and development $ 423,167 $ 87,252 General and administrative 3,985,402 2,323,811 Total $ 4,408,569 $ 2,411,063

WARRANTS (Tables)

WARRANTS (Tables)	12 Months Ended
	Apr. 30, 2022
Warrants
The following table summarizes information about common stock warrants outstanding at April 30, 2022:	The following table summarizes information about common stock warrants outstanding at April 30, 2022: Outstanding Exercisable Weighted Average Weighted Weighted Remaining Average Average Exercise Number Contractual Exercise Number Exercise Price Outstanding Life (years) Price Exercisable Price $ 1.00 500,000 1.8 $ 1.00 500,000 $ 1.00 $ 1.75 161,342 2.5 $ 1.75 161,342 $ 1.75 $ 3.00 9,427,196 2.9 $ 3.00 9,427,196 $ 3.00 $ 6.25 61,250 4.1 $ 6.25 61,250 $ 6.25 $ 1.00 6.25 10,149,788 2.9 $ 2.90 10,149,788 $ 2.90
The estimated fair value of warrants granted during the years ended April 30, 2022 and 2021, were calculated using the Black-Scholes option-pricing model using the following assumptions:	The estimated fair value of warrants granted during the years ended April 30, 2022 and 2021, were calculated using the Black-Scholes option-pricing model using the following assumptions: For the Year Ended April 30, 2022 2021 Expected term (in years) 5.00 5.00 Volatility 88.94% 103.70% Risk-free interest rate 2.92% 0.27 0.28 Dividend yield 0.0% 0.0%

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Apr. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Original AL001 License:	Original AL001 License: Payment Due Date Event $ 50,000 * Completed September 2019 Pre-IND meeting $ 65,000 * Completed June 2021 IND application filing $ 190,000 * Completed December 2021 Upon first dosing of patient in a clinical trial $ 500,000 * Completed March 2022 Upon Completion of first clinical trial $ 1,250,000 12 months from completion of the first Phase II clinical trial Upon first patient treated in a Phase III clinical trial $ 10,000,000 8 years from the effective date of the agreement Upon FDA approval * Milestone met and completed AL002 License: Payment Due Date Event $ 50,000 * Completed January 2022 Upon IND application filing $ 50,000 12 months from IND application filing date Upon first dosing of patient in first Phase I clinical trial $ 175,000 12 months from first patient dosed in Phase I Upon completion of first Phase I clinical trial $ 500,000 24 months from completion of first Phase I clinical trial Upon completion of first Phase II clinical trial $ 1,000,000 12 months from completion of the first Phase II clinical trial Upon first patient treated in a Phase III clinical trial $ 10,000,000 7 years from the effective date of the agreement Upon FDA BLA approval The Company has met the pre-IND meeting, IND application filing, and successfully completed the Phase I clinical trial milestones encompassing AL001. If the Company fails to meet a milestone by its specified date, the Licensor may terminate the license agreement. Licensor was also granted a preemptive right to acquire such shares or other equity securities that may be issued from time to time by the Company while Licensor remains the owner of any equity securities of the Company. On June 10, 2020, the Company obtained two (2) additional royalty-bearing exclusive worldwide licenses from the Licensor to a therapy named AL001. One of the additional licenses is for the treatment of neurodegenerative diseases excluding Alzheimer’s and the other license is for the treatment of psychiatric diseases and disorders. There are certain license fees and milestone payments required to be paid pursuant to the terms of the Standard Exclusive License Agreements with Sublicensing Terms, both dated June 10, 2020 and effective as of November 1, 2019, with the Licensor and the University of South Florida (the “June AL001 License Agreements”). Under each of the June AL001 License Agreements, a royalty payment of 3 20,000 Additional AL001 Licenses: Payment Due Date Event $ 50,000 Upon IND application filing IND application filing $ 150,000 12 months from IND filing date Upon first dosing of patient in a clinical trial $ 400,000 12 months from first patient dosing Upon Completion of first clinical trial $ 1,000,000 36 months from completion of the first Phase II clinical trial Upon first patient treated in a Phase III clinical trial $ 8,000,000 8 years from the effective date of the agreement First commercial sale

DESCRIPTION OF BUSINESS (Detail

DESCRIPTION OF BUSINESS (Details Narrative) - $ / shares	Apr. 30, 2022	Apr. 30, 2021
Accounting Policies [Abstract]
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001

LIQUIDITY, GOING CONCERN AND _2

LIQUIDITY, GOING CONCERN AND MANAGEMENT’S PLANS (Details Narrative) - USD ($)		1 Months Ended	12 Months Ended
	Mar. 09, 2021	Mar. 31, 2021	Apr. 30, 2022	Apr. 30, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Cash			$ 14,100,000	$ 1,900,000
Accumulated deficit			29,200,000	$ 16,800,000
Value of common stock
Common stock par value			$ 0.0001	$ 0.0001
Subsidiaries [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Common stock par value	$ 3
Cancellation convertible promissory note value	$ 4,000,000
Cancellation convertible promissory note advance value	1,800,000
Cancellation convertible promissory note surrender value	$ 50,000
Cancellation convertible promissory note	2,666,667
Securities Purchase Agreement [Member] | Subsidiaries [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Sale of common stock		6,666,667
Value of common stock		$ 10,000,000
Common stock par value		$ 1.50
Purchase price	$ 2,000,000

The following sets forth the nu

The following sets forth the number of shares of common stock underlying outstanding convertible preferred stock, options, warrants, and convertible notes that have been excluded from the computation of loss per common share: (Details) - $ / shares		12 Months Ended
		Apr. 30, 2022	Apr. 30, 2021
Restricted stock		24,037,298	38,315,634
Exercise price (in dollars per share)		$ 0.0004
Equity Option [Member]
Restricted stock	[1]	13,700,000	16,300,000
Number of stock excluded		2,000,000
Exercise price (in dollars per share)		$ 0.0004
Restricted Stock [Member]
Restricted stock	[1]	187,510
Warrant [Member]
Restricted stock		10,149,788	6,769,635
Convertible Notes [Member]
Restricted stock		0	245,999
Series A Preferred Stock [Member]
Restricted stock			15,000,000
[1]The Company has excluded 2,000,000 0.0004

NOTE RECEIVABLE, RELATED PART_2

NOTE RECEIVABLE, RELATED PARTY, NET (Details Narrative) - USD ($)		12 Months Ended
	Apr. 30, 2019	Apr. 30, 2022	Apr. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Number of shares purchase
Warrant terms		2 years 10 months 25 days
Long Term Debt Average Amount of Outstanding		$ 14,883,295	$ 14,883,295
Ault Life Sciences Fund L L C [Member] | Securities Purchase Agreement [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of shares purchase (in shares)	10,000,000
Number of shares purchase	$ 15,000,000
Ault Life Sciences Fund L L C [Member] | Securities Purchase Agreement [Member] | Warrant [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of warrants granted	5,000,000
Warrant terms	5 years
Exercise price (in dollars per share)	$ 3

Prepaid expenses and other cu_3

Prepaid expenses and other current assets are as follows: (Details) - USD ($)	Apr. 30, 2022	Apr. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid consulting fees	$ 186,667	$ 613,758
Prepaid insurance	155,880
Other prepaid expenses	7,176	353,352
Other receivables		16,210
Total prepaid expenses and other current assets	$ 349,723	$ 983,320

PREPAID EXPENSES AND OTHER CU_4

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details Narrative)	Jun. 14, 2021 USD ($)
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid insurance1	$ 855,000

The following is a geographical

The following is a geographical breakdown of the Company’s loss before the provision for income taxes: (Details) - USD ($)	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Pre-tax loss:
Federal	$ 12,362,059	$ 5,046,567
Foreign
Total pre-tax income (loss)	$ (12,362,059)	$ (5,046,567)

Significant components of the C

Significant components of the Company’s deferred tax assets are as follows: (Details) - USD ($)	Apr. 30, 2022	Apr. 30, 2021
Deferred income tax asset:
Net operating loss carryover	$ 8,376,539	$ 3,360,381
Stock compensation	1,722,003	994,264
Total deferred tax asset	10,098,542	4,354,645
Fixed assets	(21,611)
Valuation allowance	(10,076,931)	(4,354,645)
Deferred income tax asset, net of allowance

A reconciliation of the federal

A reconciliation of the federal statutory income tax rate to the Company’s effective income tax rate for the years ended April 30, 2022 and 2021, is as follows: (Details)	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Income Tax Disclosure [Abstract]
Tax benefit at U.S. Federal statutory tax rate	21%	21%
State income tax, net of federal benefit	12.30%	18.60%
Increase (decrease) in tax rate resulting from:
Change in valuation allowance	(46.30%)	(34.50%)
Stock compensation	13%	(2.90%)
Other	0%	(2.20%)
Effective tax rate	0%	0%

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	Apr. 30, 2022	Apr. 30, 2021
Operating Loss Carryforwards [Line Items]
Valuation allowance	$ 10,076,931	$ 4,354,645
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	29,110,836
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 32,362,154

A summary of stock option activ

A summary of stock option activity for the period May 1, 2020 to April 30, 2022, is presented below: (Details) - USD ($)	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2020
Share-Based Payment Arrangement [Abstract]
Balance at begining (in shares)	10,450,000	575,000
Balance at begining (in shares)	19,550,000	19,425,000
Balance at begining	$ 0.7195	$ 0.6964
Balance at end	6 years 1 month 6 days	5 years 11 months 1 day	6 years 10 months 21 days
Balance at begining	$ 35,159,500	$ 15,609,500
Increase to plan shares		10,000,000
Options granted	(1,950,000)	(125,000)
Options granted	1,950,000	125,000
Options granted	$ 2.7195	$ 1.5000
Options exercised	(5,500,000)
Options exercised	$ 0.0004
Options cnacelled/forfieted	300,000
Options cnacelled/forfieted	(300,000)
Options cnacelled/forfieted	$ 1.5000
Balance at end (in shares)	8,800,000	10,450,000	575,000
Balance at end (in shares)	15,700,000	19,550,000	19,425,000
Balance at end	$ 1.2017	$ 0.7195	$ 0.6964
Balance at end	$ 2,219,700	$ 35,159,500	$ 15,609,500
Options vested and expected to vest	13,700,000
Options vested and expected to vest at end	$ 1.2311
Options vested and expected to vest at end	6 years 7 months 13 days
Options vested and expected to vest at end	$ 2,179,700
Options exercisable at end	13,460,519
Options exercisable at end	$ 1.0345
Options exercisable at end	6 years 1 month 24 days
Options exercisable at end	$ 2,155,022

The estimated fair value of sto

The estimated fair value of stock options granted to employees and consultants during the years ended April 30, 2022 and 2021 were calculated using the Black-Scholes option-pricing model using the following assumptions: (Details)	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Dividend yield	0%	0%
Minimum [Member] | Employees and Consultants [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected Term (in years)	6 years 2 months 30 days	3 years 6 months
Volatility		85.53%
Risk-free interest rate		0.31%
Maximum [Member] | Employees and Consultants [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected Term (in years)		6 years 2 months 30 days
Volatility	88.94%	100.10%
Risk-free interest rate	2.20%	0.51%

The Company_s results of operat

The Company’s results of operations include expenses relating to stock-based compensation for the years ended April 30, 2022 and 2021, were comprised as follows: (Details) - USD ($)	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total	$ 4,408,569	$ 2,411,063
Research and Development Expense [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total	423,167	87,252
General and Administrative Expense [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total	$ 3,985,402	$ 2,323,811

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details Narrative) - USD ($)					1 Months Ended		12 Months Ended
	Mar. 23, 2021	Nov. 26, 2019	Mar. 01, 2019	Apr. 30, 2016	May 31, 2021	Nov. 30, 2018	Apr. 30, 2022	Apr. 30, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation							$ 1,722,003	$ 994,264
Amount grant for consulting services							383,000
Stock-based compensation							$ 4,408,569	$ 2,411,063
Options granted							1,950,000	125,000
Exercise price (in dollars per share)							$ 2.7195	$ 1.5000
Options vested and expected to vest							13,700,000
Weighted-average period vested and expected to vest at end							6 years 7 months 13 days
General and Administrative Expense [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation							$ 3,985,402	$ 2,323,811
Unamortized Stock Based Compensation [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options vested and expected to vest							4,500,000
Weighted-average period vested and expected to vest at end							1 year 9 months 18 days
Performance Contingent Stock Options [Member] | Chief Executive Officer [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options granted						2,000,000
Exercise price (in dollars per share)						$ 1
Performance Contingent Stock Options [Member] | Key Employees and Director [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Terms of award		In the event any of the stock price milestones are not achieved within three
Options granted	450,000	4,250,000
Performance Contingent Stock Options [Member] | Director [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Terms of award					the Company issued restricted stock awards pursuant to the 2021 Plan to one employee and four independent Board members. The restricted stock awards vest over 48 months for the employee and 12 months for the independent Board members.
Restricted Stock [Member] | Employee [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation							$ 1,100,000
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation							4,400,000	$ 2,400,000
Share-Based Payment Arrangement, Option [Member] | Director [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation							$ 2,900,000
Minimum [Member] | Performance Contingent Stock Options [Member] | General and Administrative Expense [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation						$ 1,200,000
Stock Incentive Plan2016 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares authorized for issuance				12,500,000
Additional number of shares available for issuance			7,500,000
Stock Incentive Plan2016 [Member] | Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expiration period				5 years
Stock Incentive Plan2016 [Member] | Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expiration period				10 years

The following table summarizes

The following table summarizes information about common stock warrants outstanding at April 30, 2022: (Details)	Apr. 30, 2022 $ / shares shares
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number warrant outstanding | shares	10,149,788
Weighted average remaining contractual life (years)	2 years 10 months 25 days
Warrant outstanding, weighted average exercise price (in dollars per share)	$ 2.90
Number of warrant exercisable | shares	10,149,788
Class of Warrant or Right Exercisable Weighted Average Exercise Price	$ 2.90
Exercise Price1 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercse price (in dollars per share)	$ 1
Number warrant outstanding | shares	500,000
Weighted average remaining contractual life (years)	1 year 9 months 18 days
Warrant outstanding, weighted average exercise price (in dollars per share)	$ 1
Number of warrant exercisable | shares	500,000
Class of Warrant or Right Exercisable Weighted Average Exercise Price	$ 1
Exercise Price 2 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercse price (in dollars per share)	$ 1.75
Number warrant outstanding | shares	161,342
Weighted average remaining contractual life (years)	2 years 6 months
Warrant outstanding, weighted average exercise price (in dollars per share)	$ 1.75
Number of warrant exercisable | shares	161,342
Class of Warrant or Right Exercisable Weighted Average Exercise Price	$ 1.75
Exercise Price 3 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercse price (in dollars per share)	$ 3
Exercise Price Fifty Six [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number warrant outstanding | shares	9,427,196
Weighted average remaining contractual life (years)	2 years 10 months 25 days
Warrant outstanding, weighted average exercise price (in dollars per share)	$ 3
Number of warrant exercisable | shares	9,427,196
Class of Warrant or Right Exercisable Weighted Average Exercise Price	$ 3
Exercise Price 4 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercse price (in dollars per share)	6.25
Exercise Price 4 [Member] | Minimum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercse price (in dollars per share)	1
Exercise Price 4 [Member] | Maximum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercse price (in dollars per share)	$ 6.25
Exercise Price Fifty Seven [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number warrant outstanding | shares	61,250
Weighted average remaining contractual life (years)	4 years 1 month 6 days
Warrant outstanding, weighted average exercise price (in dollars per share)	$ 6.25
Number of warrant exercisable | shares	61,250
Class of Warrant or Right Exercisable Weighted Average Exercise Price	$ 6.25

The estimated fair value of war

The estimated fair value of warrants granted during the years ended April 30, 2022 and 2021, were calculated using the Black-Scholes option-pricing model using the following assumptions: (Details) - Number	Apr. 30, 2022	Apr. 30, 2021
Expected term (in years)	2 years 10 months 25 days
Warrant [Member]
Expected term (in years)	5 years	5 years
Warrant [Member] | Measurement Input, Option Volatility [Member]
Warrants measurement input	88.94	103.70
Warrant [Member] | Measurement Input, Risk Free Interest Rate [Member] | Minimum [Member]
Warrants measurement input		0.27
Warrant [Member] | Measurement Input, Risk Free Interest Rate [Member] | Maximum [Member]
Warrants measurement input		0.28
Warrant [Member] | Measurement Input, Expected Dividend Rate [Member] | Minimum [Member]
Warrants measurement input	0	0

WARRANTS (Details Narrative)

WARRANTS (Details Narrative) - USD ($) $ / shares in Units, $ in Millions				12 Months Ended
	Mar. 22, 2022	Jul. 28, 2021	Jun. 17, 2021	Apr. 30, 2022	Jul. 28, 2020
Warrant 2022 [Member]
Aggregate number of stock repurchase				2,000,000
Exercise price (in dollars per share)			$ 6.25		$ 3
Number of stock repurchase		666,667	61,250	61,250
Warrant 2022 [Member] | D P L [Member]
Exercise price (in dollars per share)	$ 1.50	$ 1.50
Number of stock repurchase	2,666,667	1,333,333
Amount of stock repurchase	$ 4	$ 2
Warrant 2022 [Member] | Minimum [Member]
Exercise price (in dollars per share)				$ 3
Warrant [Member]
Exercise price (in dollars per share)				$ 6.25

OTHER RELATED PARTY TRANSACTI_2

OTHER RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)				1 Months Ended		12 Months Ended
	Jun. 17, 2021	Jun. 15, 2021	Mar. 09, 2021	May 31, 2021	Mar. 31, 2021	Apr. 30, 2022
Related Party Transaction [Line Items]
[custom:ConsultingExpenses]						$ 383,000
William Horne [Member]
Related Party Transaction [Line Items]
Number of shares issued for services, value				$ 50,000
IPO [Member] | Mr Ault [Member]
Related Party Transaction [Line Items]
Description of conversion				the effectiveness of the IPO, and in consideration for (i) the conversion of 750,000 shares of the Company’s Series A Preferred Shares beneficially owned by Mr. Ault through Ault Life Sciences, Inc. into 15,000,000 shares of common stock; (ii) the extension of the maturity date of the note in the original principal amount of $15,000,000 issued to the Company by ALSF, an entity controlled by Mr. Ault, to December 31, 2023; and (iii) the resignation by Mr. Ault as a director and executive officer of the Company
Percentage of outstanding common shares				5%
D P L [Member]
Related Party Transaction [Line Items]
[custom:ConsultingExpenses]						$ 88,000
Securities Purchase Agreement [Member] | Digital Power Lending [Member]
Related Party Transaction [Line Items]
Number of shares sold (in shares)	2,000,000	2,000,000			6,666,667
Number of shares sold	$ 10,000,000				$ 10,000,000
Description of related party transaction			DPL paid $4 million, less the $1.8 million in prior advances and the surrender for cancellation of a $50,000 convertible promissory note held by BitNile, for an aggregate of 2,666,667 shares of common stock. Under the terms of the SPA, DPL (i) purchased an additional 1,333,333 shares of common stock upon approval of the IND for Phase I clinical trials for AL001 for a purchase price of $2 million; and (ii) purchased 2,666,667 shares of common stock upon the completion of the Phase I clinical trials for AL001 for a purchase price of $4 million
Description of milestones					In addition, the Company issued DPL warrants to purchase an aggregate of 6,666,667 shares of common stock at an exercise price of $3.00 per share. Finally, the Company agreed that for a period of eighteen (18) months following the date of the payment of the final tranche of $4 million, DPL will have the right to invest an additional $10 million on the same terms, except that no specific milestones have been determined with respect to the additional $10 million as of the date of this Annual Report
Share price (in dollar per shares)	$ 5	$ 5
Consulting Agreement [Member] | IPO [Member] | Mr Ault [Member]
Related Party Transaction [Line Items]
Advisory and consulting services fees				$ 50,000

Original AL001 License_ (Detail

Original AL001 License: (Details)	12 Months Ended
	Apr. 30, 2022 USD ($)
A L001 License [Member] | Pre I N D Meeting [Member]
Product Liability Contingency [Line Items]
Payment	$ 50,000
Due Date	Completed September 2019
A L001 License [Member] | Ind Application Filing [Member]
Product Liability Contingency [Line Items]
Payment	$ 65,000
Due Date	Completed June 2021
A L001 License [Member] | Upon First Dosing of Patient in Clinical Trial [Member]
Product Liability Contingency [Line Items]
Payment	$ 190,000
Due Date	Completed December 2021
A L001 License [Member] | Upon Completion of First Patient Dosing [Member]
Product Liability Contingency [Line Items]
Payment	$ 500,000
Due Date	Completed March 2022
A L001 License [Member] | Upon Completion of First Clinical Trial [Member]
Product Liability Contingency [Line Items]
Payment	$ 1,250,000
Due Date	12 months from completion of the first Phase II clinical trial
A L001 License [Member] | Upon Fda Approval [Member]
Product Liability Contingency [Line Items]
Payment	$ 10,000,000
Due Date	8 years from the effective date of the agreement
A L002 License [Member] | Pre I N D Meeting [Member]
Product Liability Contingency [Line Items]
Payment	$ 50,000
Due Date	Completed January 2022
A L002 License [Member] | Ind Application Filing [Member]
Product Liability Contingency [Line Items]
Payment	$ 50,000
Due Date	12 months from IND application filing date
A L002 License [Member] | Upon First Dosing of Patient in Clinical Trial [Member]
Product Liability Contingency [Line Items]
Payment	$ 175,000
Due Date	12 months from first patient dosed in Phase I
A L002 License [Member] | Upon Completion of First Clinical Trial [Member]
Product Liability Contingency [Line Items]
Payment	$ 500,000
Due Date	24 months from completion of first Phase I clinical trial
A L002 License [Member] | Upon Fda Approval [Member]
Product Liability Contingency [Line Items]
Payment	$ 10,000,000
Due Date	7 years from the effective date of the agreement
A L002 License [Member] | Upon First Patient Treated in Phase3 Clinical Trial [Member]
Product Liability Contingency [Line Items]
Payment	$ 1,000,000
Due Date	12 months from completion of the first Phase II clinical trial
Additional A L001 License [Member] | Ind Application Filing [Member]
Product Liability Contingency [Line Items]
Payment	$ 50,000
Due Date	Upon IND application filing
Additional A L001 License [Member] | Upon First Dosing of Patient in Clinical Trial [Member]
Product Liability Contingency [Line Items]
Payment	$ 150,000
Due Date	12 months from IND filing date
Additional A L001 License [Member] | Upon Completion of First Clinical Trial [Member]
Product Liability Contingency [Line Items]
Payment	$ 400,000
Due Date	12 months from first patient dosing
Additional A L001 License [Member] | Upon Fda Approval [Member]
Product Liability Contingency [Line Items]
Payment	$ 8,000,000
Due Date	8 years from the effective date of the agreement
Additional A L001 License [Member] | Upon First Patient Treated in Phase3 Clinical Trial [Member]
Product Liability Contingency [Line Items]
Payment	$ 1,000,000
Due Date	36 months from completion of the first Phase II clinical trial

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	1 Months Ended	12 Months Ended
	Jun. 10, 2020	Apr. 30, 2022
A L002 License [Member]
Product Liability Contingency [Line Items]
Percentage of royalty payments on net sales of product		4%
A L001 License [Member]
Product Liability Contingency [Line Items]
Percentage of royalty payments on net sales of product		4.50%
Additional A L001 License [Member]
Product Liability Contingency [Line Items]
Percentage of royalty payments on net sales of product	3%
Description of licenses agreements		The Company has already paid an initial license fee of $200,000 for AL002 and an initial license fee of $200,000 for AL001. As an additional licensing fee for the license of AL002, the Licensor received 3,601,809 shares of common stock. As an additional licensing fee for the license of the AL001 technologies, the Licensor received 2,227,923 shares of common stock. Minimum royalties for AL001 are $25,000 in 2023, $45,000 in 2024 and $70,000 in 2025 and every year thereafter, for the life of the agreement. Minimum royalties for AL002 are $20,000 in 2022, $40,000 in 2023 and $50,000 in 2024 and every year thereafter, for the life of the respective agreement.
Initial license fees	$ 20,000

CONVERTIBLE NOTES (Details Narr

CONVERTIBLE NOTES (Details Narrative)	1 Months Ended	12 Months Ended
	Feb. 28, 2021 USD ($) $ / shares	Apr. 30, 2022 USD ($) Number $ / shares	Apr. 30, 2021 USD ($) $ / shares
Short-Term Debt [Line Items]
Number of shares purchase
Common stock, par value (in dollars per share) | $ / shares		$ 0.0001	$ 0.0001
Debt discount		$ 12,770	$ 124,046
Convertible Promissory Note Twelve [Member] | Measurement Input, Risk Free Interest Rate [Member]
Short-Term Debt [Line Items]
Debt instrument measurement input | Number		0.27
Convertible Promissory Note Twelve [Member] | Measurement Input, Price Volatility [Member]
Short-Term Debt [Line Items]
Debt instrument measurement input | Number		103.7
Securities Purchase Agreement [Member] | Convertible Promissory Note [Member]
Short-Term Debt [Line Items]
Debt discount		$ 13,000
Securities Purchase Agreement [Member] | Convertible Promissory Note [Member] | Warrant [Member]
Short-Term Debt [Line Items]
Debt discount		137,000
Original issue discount		$ 46,000
Securities Purchase Agreement [Member] | Institutional Investor [Member] | Convertible Promissory Note [Member]
Short-Term Debt [Line Items]
Principal amount	$ 348,000
Number of shares purchase	$ 335,000
Interest rate	10%
Common stock, par value (in dollars per share) | $ / shares	$ 1.50

EQUITY TRANSACTIONS (Details Na

EQUITY TRANSACTIONS (Details Narrative) - USD ($)					1 Months Ended	3 Months Ended
	Jun. 17, 2021	Jun. 15, 2021	Mar. 09, 2021	Apr. 30, 2019	Mar. 31, 2021	Jul. 31, 2021	Apr. 30, 2022	Jan. 31, 2022	Apr. 30, 2021
Class of Stock [Line Items]
Preferred stock, shares authorized							10,000,000	10,000,000	10,000,000
Preferred stock, par or stated value per share							$ 0.0001		$ 0.0001
Warrant terms							2 years 10 months 25 days
Warrant [Member]
Class of Stock [Line Items]
Warrant terms							5 years		5 years
Exercise price (in dollars per share)							$ 6.25
A L S F [Member]
Class of Stock [Line Items]
Shares purchase price				$ 15,000,000
Warrant terms				12 months
Securities Purchase Agreements [Member] | A L S F [Member]
Class of Stock [Line Items]
Number of shares purchase				10,000,000
Shares purchase price				$ 15,000,000
Shares purchase price (in dollars per share)				$ 1.50
Securities Purchase Agreements [Member] | A L S F [Member] | Warrant [Member]
Class of Stock [Line Items]
Number of shares purchase				5,000,000
Warrant terms				5 years
Exercise price (in dollars per share)				$ 3
Securities Purchase Agreements [Member] | Digital Power Lending [Member]
Class of Stock [Line Items]
Number of shares issued					6,666,667
Proceeds from sale of equity					$ 10,000,000
Shares issued price per share					$ 1.50
Proceeds from related party			$ 4
Advance from related parties			$ 1,800,000
Description of purchase agreement terms					DPL (i) purchased an additional 1,333,333 shares of common stock upon approval by the FDA of the Company’s IND for its Phase IA clinical trials for AL001 for a purchase price of $2 million; and (ii) purchased 2,666,667 shares of Common Stock upon the completion of these Phase IA clinical trials for AL001 for a purchase price of $4 million. In addition, the Company issued DPL warrants to purchase an aggregate of 6,666,667 shares of common stock at an exercise price of $3.00 per share
Securities Purchase Agreements [Member] | Digital Power Lending [Member] | Final Tranche [Member]
Class of Stock [Line Items]
Additional right to invest					$ 10,000,000	$ 10,000,000
Securities Purchase Agreements [Member] | Ault Global [Member] | Convertible Promissory Note [Member]
Class of Stock [Line Items]
Number of shares issued			2,666,667
Shares value surrender for cancellation			$ 50,000
Securities Sold Agreements [Member]
Class of Stock [Line Items]
Number of shares purchase	375,000
Number of shares sold	2,875,000
Offering price (in dollars per share)	$ 5
Gross proceeds	$ 14,400,000
Proceeds from underwriting discount and estimated offering expenses	$ 12,900,000
Securities Purchase Agreement [Member] | Digital Power Lending [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, Other	2,000,000	2,000,000			6,666,667
Number of shares sold	$ 10,000,000				$ 10,000,000
Share price (in dollar per shares)	$ 5	$ 5
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized							8,640,000
Preferred stock, par or stated value per share							$ 0.0001		$ 0.0001
Preferred stock shares designated							1,360,000		1,360,000
Preferred Shares converted into common stock							15,000,000