Alzamend Neuro (ALZN) 10-Q 13 Sep 23 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Jul. 31, 2023	Sep. 12, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jul. 31, 2023
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024
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	3480 Peachtree Road NE
Entity Address, Address Line Two	Second Floor
Entity Address, Address Line Three	Suite 103
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	722-6303
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	ALZN
Security Exchange Name	NASDAQ
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 Common Stock, Shares Outstanding		96,940,124

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($)	Jul. 31, 2023	Apr. 30, 2023
CURRENT ASSETS
Cash	$ 1,695,416	$ 5,140,859
Prepaid expenses and other current assets	718,188	447,589
Prepaid expenses - related party		247,334
TOTAL CURRENT ASSETS	2,413,604	5,835,782
Property, plant and equipment, net	214,401	79,843
TOTAL ASSETS	2,628,005	5,915,625
CURRENT LIABILITIES
Accounts payable and accrued liabilities	2,740,888	2,870,122
TOTAL LIABILITIES, ALL CURRENT	2,740,888	2,870,122
STOCKHOLDERS’ (DEFICIT) 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 0 issued and outstanding as of July 31, 2023 and April 30, 2023
Common stock, $0.0001 par value: 300,000,000 shares authorized; 96,940,124 issued and outstanding as of July 31, 2023 and April 30, 2023	9,694	9,694
Additional paid-in capital	62,361,146	61,991,766
Note receivable for common stock – related party	(14,883,295)	(14,883,295)
Accumulated deficit	(47,600,428)	(44,072,662)
TOTAL STOCKHOLDERS’ (DEFICIT) EQUITY	(112,883)	3,045,503
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 2,628,005	$ 5,915,625

Condensed Balance Sheets (Una_2

Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jul. 31, 2023	Apr. 30, 2023
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	96,940,124	96,940,124
Common stock, shares outstanding	96,940,124	96,940,124
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	0
Preferred stock, shares outstanding	0	0

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
OPERATING EXPENSES
Research and development	$ 2,366,137	$ 1,375,953
General and administrative	1,159,794	1,659,589
Total operating expenses	3,525,931	3,035,542
Loss from operations	(3,525,931)	(3,035,542)
OTHER EXPENSE, NET
Interest expense	(1,835)	(1,532)
Total other expense, net	(1,835)	(1,532)
NET LOSS	$ (3,527,766)	$ (3,037,074)
Basic net loss per common share	$ (0.04)	$ (0.03)
Diluted net loss per common share	$ (0.04)	$ (0.03)
Basic weighted average common shares outstanding	98,440,124	97,481,790
Diluted weighted average common shares outstanding	98,440,124	97,481,790

Condensed Statements of Stockho

Condensed Statements of Stockholders' (Deficit) Equity - USD ($)	Series A Convertible 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, 2022		$ 9,548	$ 57,419,753	$ (14,883,295)	$ (29,194,495)	$ 13,351,511
Beginning balance (in shares) at Apr. 30, 2022		95,481,790
Stock-based compensation			867,338			867,338
Net loss					(3,037,074)	(3,037,074)
Ending balance, value at Jul. 31, 2022		$ 9,548	58,287,091	(14,883,295)	(32,231,569)	11,181,775
Ending balance (in shares) at Jul. 31, 2022		95,481,790
Beginning balance, value at Apr. 30, 2023		$ 9,694	61,991,766	(14,883,295)	(44,072,662)	3,045,503
Beginning balance (in shares) at Apr. 30, 2023		96,940,124
Stock-based compensation			369,380			369,380
Net loss					(3,527,766)	(3,527,766)
Ending balance, value at Jul. 31, 2023		$ 9,694	$ 62,361,146	$ (14,883,295)	$ (47,600,428)	$ (112,883)
Ending balance (in shares) at Jul. 31, 2023		96,940,124

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Cash flows from operating activities:
Net loss	$ (3,527,766)	$ (3,037,074)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	12,685	7,097
Stock-based compensation to employees and consultants	369,380	867,338
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(270,599)	(237,819)
Prepaid expenses - related party	247,334
Accounts payable and accrued liabilities	(129,234)	(136,232)
Net cash used in operating activities	(3,298,200)	(2,536,690)
Cash flows from investing activities:
Purchase of machinery	(147,243)
Net cash used in investing activities	(147,243)
Net decrease in cash	(3,445,443)	(2,536,690)
Cash at beginning of period	5,140,859	14,063,811
Cash at end of period	$ 1,695,416	$ 11,527,121

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	3 Months Ended
	Jul. 31, 2023
Accounting Policies [Abstract]
DESCRIPTION OF BUSINESS	1. DESCRIPTION OF BUSINESS Organization Alzamend Neuro, Inc. (the “Company” or “Alzamend”), is a clinical-stage biopharmaceutical company focused on developing novel products for the treatment of Alzheimer’s disease (“Alzheimer’s”), bipolar disorder (“BD”), major depressive disorder (“MDD”) and post-traumatic stress disorder (“PTSD”). With two current 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: (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 ALZN002, 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 two product candidates 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 AND GOING CONCERN

LIQUIDITY AND GOING CONCERN	3 Months Ended
	Jul. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
LIQUIDITY AND GOING CONCERN	2. LIQUIDITY AND GOING CONCERN The accompanying financial statements have been prepared on the basis that the Company will continue as a going concern. As of July 31, 2023, the Company had cash of $ 1.7 47.6 113,000 3.5 3.3 The Company believes its current cash on hand is not sufficient to fund its planned operations through one year after the date the financial statements are issued. These factors create substantial doubt about the Company’s ability to continue as a going concern for at least one year after the date that these condensed financial statements are issued. The Company’s inability to continue as a going concern could have a negative impact on the company, including our ability to obtain needed financing. The Company’s financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classifications of liabilities that might be necessary should it be unable to continue as a going concern. In order to continue as a going concern, the Company will need to raise additional funds. The Company plans to seek additional funding through public equity, private equity and debt financings. Additional funds may also be received from the exercise of warrants (Note 7) and the receipt of funds from the note receivable (Note 4). The terms of any additional financing may adversely affect the holdings or rights of the Company’s stockholders. If the Company is unable to obtain funding, it could be required to delay, reduce or eliminate research and development programs and planned clinical trials which could adversely affect the Company’s business operations.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Jul. 31, 2023
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	3. SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying condensed financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the rules of the Securities and Exchange Commission (“SEC”) applicable to interim reports of companies filing as a smaller reporting company. These financial statements should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s Report on Form 10-K for the year ended April 30, 2023, filed with the SEC on July 27, 2023. In the opinion of management, the accompanying condensed interim financial statements include all adjustments necessary in order to make the financial statements not misleading. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year or any other future period. Certain notes to the financial statements that would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal year as reported in the Company’s Report on Form 10-K have been omitted. The accompanying condensed balance sheet at April 30, 2023 has been derived from the audited balance sheet at April 30, 2023 contained in such Form 10-K. 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 expenses during the reporting period. The Company’s significant accounting policies that involve significant judgment and estimates include stock-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 July 31, 2023 and April 30, 2023, the Company had no 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 are determined using the Black-Scholes valuation model, a “Level 3” fair value measurement, based on the estimated fair value of 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 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. Property and Equipment, Net Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful life of five years. Significant additions and improvements are capitalized, while repairs and maintenance are charged to expense as incurred. Research and Development Expenses Research and development costs are expensed as incurred. Research and development costs consist of scientific consulting fees, clinical trial fees and lab supplies, as well as fees paid to other entities 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 license, 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 account 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 relative satisfaction of the performance conditions as of the reporting date. The Company recognizes stock-based compensation expense for restricted stock units on a straight-line basis over the requisite service period and account for forfeitures as they occur. The Company’s stock-based compensation for restricted stocks is based upon the estimated fair value of the 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 FASB ASC 480, Distinguishing Liabilities from Equity Derivatives and Hedging, Loss per Common Share The Company utilizes FASB ASC 260, Earnings per Share Since the effects of outstanding stock options, restricted stock units and warrants 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 stock options, restricted stock units and warrants that have been excluded from the computation of loss per common share: Schedule of antidilutive securities excluded from computation of earnings per share For the Three Months Ended July 31, 2023 2022 Stock options (1) 18,158,329 18,600,000 Restricted stock units 50,000 75,000 Warrants 10,149,788 10,149,788 28,358,117 28,824,788 (1) The Company has excluded 1,500,000 and 2,000,000 stock options for the three months ended July 31, 2023 and 2022, respectively, with an exercise price of $0.0004, from its anti-dilutive securities as these shares have been included in our determination of basic loss per share as they represent shares issuable for little or no cash consideration upon the satisfaction of certain conditions pursuant to FASB ASC 260-10-45-14. 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. 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 FOR COMMON STOC

NOTE RECEIVABLE FOR COMMON STOCK, RELATED PARTY	3 Months Ended
	Jul. 31, 2023
Note Receivable For Common Stock Related Party
NOTE RECEIVABLE FOR COMMON STOCK, RELATED PARTY	4. NOTE RECEIVABLE FOR COMMON STOCK, RELATED PARTY On April 30, 2019, the Company and Ault Life Sciences Fund, LLC (“ALSF”) entered into a securities purchase agreement for the purchase of 10,000,000 15,000,000 5,000,000 5 3.00 15,000,000 14,883,295

PREPAID EXPENSES AND OTHER CURR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	3 Months Ended
	Jul. 31, 2023
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: Schedule of prepaid expenses and other current assets July 31, 2023 April 30, 2023 Prepaid clinical trial fees $ 394,821 $ 352,635 Prepaid insurance 311,533 92,154 Other prepaid expenses 11,834 2,800 Total prepaid expenses and other current assets $ 718,188 $ 447,589 During the three months ended July 31, 2023, the Company prepaid $ 313,000 936,000 337,000

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Jul. 31, 2023
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	6. 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 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. All options that the Company grants are granted at the per share fair value on the grant date. Vesting of options differs based on the terms of each option. The Company has valued the options at their date of grant utilizing the Black-Scholes option pricing model. As of the date of issuance of these options, there was not an active public market for the Company’s shares. Accordingly, the fair value of the underlying options was determined based on the historical volatility data of similar companies, considering the industry, products and market capitalization of such other entities. The risk-free interest rate used in the calculations is based on the implied yield available on U.S. Treasury issues with an equivalent term approximating the expected life of the options as calculated using the simplified method. The expected life of the options used was based on the contractual life of the option granted. Stock-based compensation is a non-cash expense because the Company settles these obligations by issuing shares of Common Stock from its authorized shares instead of settling such obligations with cash payments. A summary of stock option activity for the three months ended July 31, 2023 is presented below: Schedule of share-based payment arrangement, option, activity Outstanding Options Shares Number of Weighted Weighted Aggregate Intrinsic Balance at April 30, 2023 9,191,671 14,808,329 $ 1.22 6.18 $ 819,900 Options granted - - $ - - Options exercised - - $ - - Options expired - - $ - - Balance at July 31, 2023 9,191,671 14,808,329 $ 1.22 5.93 $ 678,900 Options vested and expected to vest at July 31, 2023 13,808,329 $ 1.22 5.68 $ 678,900 Options exercisable at July 31, 2023 13,401,031 $ 1.20 5.61 $ 678,900 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. Performance Contingent Stock Options Granted to Employee On November 26, 2019, the Board granted 4,250,000 In the event any of the stock price milestones are not achieved within three years On November 22, 2022, the Compensation Committee of the Board modified the performance criteria for these awards. The target price range is now $10 per share to $20 per share. Additionally, if the stock price milestones are now not achieved by November 27, 2026, as opposed to within three years, the unvested portion of the performance options will be reduced by 25%. Due to the significant risks and uncertainties associated with achieving the market-contingent awards, as of July 31, 2023, the Company believes that the achievement of the requisite performance conditions is not probable and, as a result, no compensation cost has been recognized for these awards. On November 29, 2022, the Compensation Committee of the Board granted 2,000,000 performance-based stock option to the Chief Executive Officer at an exercise price of $1.17 per share, of which 50% vest upon the completion and announcement of topline data from the Company’s Phase II clinical trial of AL001 within three years from grant date and the remaining 50% vest upon the completion and announcement of topline data from the Company’s Phase I/IIA clinical trial of ALZN002 within four years from the grant date. As of July 31, 2023, the Company believes that it is probable that the performance condition of the completion and announcement of topline data from the Company’s Phase II clinical trial of AL001 will be achieved and had recognized the related stock-based compensation during the three months ended January 31, 2023. As of July 31, 2023, the Company believes that the achievement of the second performance condition is not probable and, as a result, no compensation cost has been recognized related to Phase I/IIA of ALZN002. Performance Contingent Stock Options Granted to TAMM Net On March 23, 2021, the Company issued performance-based stock options to certain team members at TAMM Net, Inc. (“TAMM Net”) to purchase an aggregate of 450,000 shares of Common Stock at a per share exercise price of $1.50 per share, of which 50% vest upon the completion of Phase I of AL001 by March 31, 2022, and the remaining 50% vest upon completion of Phase I/IIA of ALZN002 by December 31, 2022. On January 19, 2023, the Board modified the performance criteria for these awards. The remaining 50% of the grant will now vest upon the completion and announcement of topline data of the first cohort from a Phase I/IIA clinical trial of ALZN002 on/or before March 31, 2024. Due to the significant risks and uncertainties associated with achieving the completion of Phase I/IIA for ALZN002, as of July 31, 2023, the Company believes that the achievement of the requisite performance conditions is not probable and, as a result, no compensation cost has been recognized for these awards related to ALZN002. Performance Contingent Stock Options Granted to Consultants On October 14, 2021, the Company issued performance-based stock options to two consultants to purchase an aggregate of 200,000 On January 19, 2023, the Board modified the performance criteria for these awards. The revised grant will vest 25% if the Company (a) completes and announces topline data from a Phase II clinical trial of AL001 and ALZN002, as applicable, that would support a new drug application for the drug candidate and the indication listed below, and (b) obtained a “Study May Proceed” letter from the U.S. Food and Drug Administration (“FDA”) for the additional Investigational New Drug (“IND”) on/or before December 31, 2023, as follows: (i) AL001 – bipolar disorder; (ii) AL001- major depressive disorder; (iii) AL001 – post-traumatic stress disorder; and (iv) ALZN002 – Alzheimer’s disease. As of July 31, 2023, the Company believes that the achievement of the requisite performance conditions is not probable and, as a result, no compensation cost has been recognized for these awards related to Phase II of AL001 and ALZN002. Stock-Based Compensation Expense The Company’s results of operations include expenses relating to stock-based compensation for three months ended July 31, 2023 and 2022, that were comprised as follows: Schedule of stock-based compensation For the Three Months Ended July 31, 2023 2022 General and administrative $ 369,380 $ 867,338 As of July 31, 2023, total unamortized stock-based compensation expense related to unvested employee and non-employee awards that are expected to vest was $ 1.0 1.3

WARRANTS

WARRANTS	3 Months Ended
	Jul. 31, 2023
Warrants
WARRANTS	7. WARRANTS The following table summarizes information about Common Stock warrants outstanding and exercisable at July 31, 2023: Schedule of common stock warrants outstanding 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 0.6 $ 1.00 500,000 $ 1.00 $ 1.75 161,342 1.3 $ 1.75 161,342 $ 1.75 $ 3.00 9,427,196 1.7 $ 3.00 9,427,196 $ 3.00 $ 6.25 61,250 2.9 $ 6.25 61,250 $ 6.25 $ 1.00 6.25 10,149,788 1.6 $ 2.90 10,149,788 $ 2.90

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Jul. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	8. COMMITMENTS AND CONTINGENCIES Contractual Obligations On July 2, 2018, the Company entered into two Standard Exclusive License Agreements with Sublicensing Terms for AL001 with the Licensor and its affiliate, the University of South Florida (the “AL001 Licenses”), pursuant to which the Licensor granted the Company a royalty bearing exclusive worldwide licenses limited to the field of Alzheimer’s, under United States Patent Nos. (i) 9,840,521, entitled “Organic Anion Lithium Ionic Cocrystal Compounds and Compositions”, filed September 24, 2015 and granted December 12, 2017, and (ii) 9,603,869, entitled “Lithium Co-Crystals for Treatment of Neuropsychiatric Disorders”, filed May 21, 2016 and granted March 28, 2017. On February 1, 2019, the Company entered into the First Amendments to the AL001 Licenses, on March 30, 2021, the Company entered into the Second Amendments to the AL001 Licenses and on June 8, 2023, the Company entered into the Third Amendments to the AL001 Licenses (collectively, the “AL001 License Agreements”). The Third Amendments to the AL001 Licenses modified the timing of the payments license fees. The AL001 License Agreements require that the Company pay combined royalty payments of 4.5% on net sales of products developed from the licensed technology for AL001. The Company has already paid an initial license fee of $200,000 for AL001. As an additional licensing fee for the license of the AL001 technologies, the Licensor received 2,227,923 shares of the Company’s common stock. Minimum royalties for AL001 License Agreements are $40,000 on the first anniversary of the first commercial sale, $80,000 on the second anniversary of the first commercial sale and $100,000 on the third anniversary of the first commercial sale and every year thereafter, for the life of the AL001 License Agreements. On May 1, 2016, the Company entered into a Standard Exclusive License Agreement with Sublicensing Terms for ALZN002 with the Licensor (the “ALZN002 License”), pursuant to which the 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. On August 18, 2017, the Company entered into the First Amendment to the ALZN002 License, on May 7, 2018, the Company entered into the Second Amendment to the ALZN002 License, on January 31, 2019, the Company entered into the Third Amendment to the ALZN002 License, on January 24, 2020, the Company entered into the Fourth Amendment to the ALZN002 License, on March 30, 2021, the Company entered into the Fifth Amendment to the ALZN002 License and on April 17, 2023, the Company entered into the Sixth Amendment to the ALZN002 License (collectively, the “ALZN002 License Agreement”). The Sixth Amendments to the ALZN002 License modified the timing of the payments license fees. The ALZN002 License Agreement requires the Company to pay royalty payments of 4% on net sales of products developed from the licensed technology for ALZN002. The Company has already paid an initial license fee of $200,000 for ALZN002. As an additional licensing fee for the license of ALZN002, the Licensor received 3,601,809 shares of the Company’s common stock. Minimum royalties for ALZN002 are $20,000 on the first anniversary of the first commercial sale, $40,000 on the second anniversary of the first commercial sale and $50,000 on the third anniversary of the first commercial sale and every year thereafter, for the life of the ALZN002 License Agreement. On November 19, 2019, the Company entered into two Standard Exclusive License Agreements with Sublicensing Terms for two additional indications of AL001 with the Licensor (the “November AL001 License”), pursuant to which the Licensor granted the Company a royalty bearing exclusive worldwide licenses limited to the fields of (i) neurodegenerative diseases excluding Alzheimer’s and (ii) psychiatric diseases and disorders. On March 30, 2021, the Company entered into the First Amendments to the November AL001 License and on April 17, 2023, the Company entered into the Second Amendments to the November AL001 License (collectively, the “November AL001 License Agreements”). The Second Amendments to the November AL001 License modified the timing of the payments license fees. The November AL001 License Agreements require the Company to pay royalty payments of 3% on net sales of products developed from the licensed technology for AL001 in those fields. The Company paid an initial license fee of $20,000 for the additional indications. Minimum royalties for November AL001 License Agreements are $40,000 on the first anniversary of the first commercial sale, $80,000 on the second anniversary of the first commercial sale and $100,000 on the third anniversary of the first commercial sale and every year thereafter, for the life of the November AL001 License Agreements. These license agreements have an indefinite term that continue until the later of the date no licensed patent under the applicable agreement remains a pending application or enforceable patent, the end date of any period of market exclusivity granted by a governmental regulatory body, or the date on which the Company’s obligations to pay royalties expire under the applicable license agreement. Under the various license agreements, if the Company fails to meet a milestone by its specified date, Licensor may terminate the license agreement. The 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 the Licensor remains the owner of any equity securities of the Company. Additionally, the Company is required to pay milestone payments on the due dates to the Licensor for the license of the AL001 technologies and for the ALZN002 technology, as follows: Original AL001 Licenses: Schedule of contractual obligation, fiscal year maturity 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 24 months from completion of 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 ALZN002 License: Payment Due Date Event $ 50,000 * Completed January 2022 Upon IND application filing $ 50,000 September 2023 Upon first dosing of patient in 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 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 Biologics License Application approval * Milestone met and completed Additional AL001 Licenses: Payment Due Date Event $ 2,000,000 36 months from completion of first Phase II clinical trial Upon first patient treated in a Phase III clinical trial $ 16,000,000 August 1, 2029 First commercial sale

EQUITY TRANSACTIONS

EQUITY TRANSACTIONS	3 Months Ended
	Jul. 31, 2023
Equity [Abstract]
EQUITY TRANSACTIONS	9. EQUITY TRANSACTIONS The Company is authorized to issue 10,000,000 0.0001 1,360,000 8,640,000 Series A Convertible Preferred Stock As of July 31, 2023, there were no shares of Series A Convertible Preferred Stock issued or outstanding. Common Stock On April 30, 2019, the Company and ALSF entered into a securities purchase agreement (the “SPA”) 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 a securities purchase agreement with Ault Lending, LLC, formerly known as Digital Power Lending, LLC (“Ault Lending”) pursuant to which the Company agreed to sell an aggregate of 6,666,667 10 1.50 4 1.8 50,000 2,666,667 Ault Lending (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 to Ault Lending warrants to purchase 3,333,333 shares of Common Stock at an exercise price of $3.00 per share. The term of the warrants is five years. Finally, the Company agreed that for a period of 18 months following the date of the payment of the final tranche of $4 million, on April 28, 2022, DPL will have the right to invest an additional $ 10 10

OTHER RELATED PARTY TRANSACTION

OTHER RELATED PARTY TRANSACTIONS	3 Months Ended
	Jul. 31, 2023
Related Party Transactions [Abstract]
OTHER RELATED PARTY TRANSACTIONS	10. OTHER RELATED PARTY TRANSACTIONS In November 2022, the Company entered into a marketing and brand development agreement with Ault Alliance, Inc. (“AULT”), effective August 1, 2022, whereby AULT will provide various marketing services over twelve months valued at $1.4 million. The Company had the right to pay the fee in cash or shares of its common stock with a value of $1.50 per share. On November 11, 2022, the Company elected to pay the fee with 933,334 shares of its common stock. The Company recorded the value of the agreement using the closing price of the Company’s common stock on November 11, 2022, and will amortize the expense over twelve months beginning in August 2022.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Jul. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	11. SUBSEQUENT EVENTS On September 8, 2023, the Company entered into an At-the-Market Issuance Sales Agreement (the “Sales Agreement”) with Ascendiant Capital Markets, LLC, as sales agent to sell shares of its Common stock, having an aggregate offering price of up to approximately $ 9.8 9.8 The offer and sale of the Shares will be made pursuant to the Company’s effective “shelf” registration statement on Form S-3 and an accompanying base prospectus contained therein (Registration Statement No. 333-273610) filed with the SEC on August 2, 2023 and declared effective by the SEC on August 10, 2023.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Jul. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the rules of the Securities and Exchange Commission (“SEC”) applicable to interim reports of companies filing as a smaller reporting company. These financial statements should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s Report on Form 10-K for the year ended April 30, 2023, filed with the SEC on July 27, 2023. In the opinion of management, the accompanying condensed interim financial statements include all adjustments necessary in order to make the financial statements not misleading. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year or any other future period. Certain notes to the financial statements that would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal year as reported in the Company’s Report on Form 10-K have been omitted. The accompanying condensed balance sheet at April 30, 2023 has been derived from the audited balance sheet at April 30, 2023 contained in such Form 10-K.
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 expenses during the reporting period. The Company’s significant accounting policies that involve significant judgment and estimates include stock-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 July 31, 2023 and April 30, 2023, the Company had no
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 are determined using the Black-Scholes valuation model, a “Level 3” fair value measurement, based on the estimated fair value of 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 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.
Property and Equipment, Net	Property and Equipment, Net Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful life of five years. Significant additions and improvements are capitalized, while repairs and maintenance are charged to expense as incurred.
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, clinical trial fees and lab supplies, as well as fees paid to other entities 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 license, 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 account 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 relative satisfaction of the performance conditions as of the reporting date. The Company recognizes stock-based compensation expense for restricted stock units on a straight-line basis over the requisite service period and account for forfeitures as they occur. The Company’s stock-based compensation for restricted stocks is based upon the estimated fair value of the 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 FASB ASC 480, Distinguishing Liabilities from Equity Derivatives and Hedging,
Loss per Common Share	Loss per Common Share The Company utilizes FASB ASC 260, Earnings per Share Since the effects of outstanding stock options, restricted stock units and warrants 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 stock options, restricted stock units and warrants that have been excluded from the computation of loss per common share: Schedule of antidilutive securities excluded from computation of earnings per share For the Three Months Ended July 31, 2023 2022 Stock options (1) 18,158,329 18,600,000 Restricted stock units 50,000 75,000 Warrants 10,149,788 10,149,788 28,358,117 28,824,788 (1) The Company has excluded 1,500,000 and 2,000,000 stock options for the three months ended July 31, 2023 and 2022, respectively, with an exercise price of $0.0004, from its anti-dilutive securities as these shares have been included in our determination of basic loss per share as they represent shares issuable for little or no cash consideration upon the satisfaction of certain conditions pursuant to FASB ASC 260-10-45-14.
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. 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)	3 Months Ended
	Jul. 31, 2023
Accounting Policies [Abstract]
Schedule of antidilutive securities excluded from computation of earnings per share	Schedule of antidilutive securities excluded from computation of earnings per share For the Three Months Ended July 31, 2023 2022 Stock options (1) 18,158,329 18,600,000 Restricted stock units 50,000 75,000 Warrants 10,149,788 10,149,788 28,358,117 28,824,788

PREPAID EXPENSES AND OTHER CU_2

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)	3 Months Ended
	Jul. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of prepaid expenses and other current assets	Schedule of prepaid expenses and other current assets July 31, 2023 April 30, 2023 Prepaid clinical trial fees $ 394,821 $ 352,635 Prepaid insurance 311,533 92,154 Other prepaid expenses 11,834 2,800 Total prepaid expenses and other current assets $ 718,188 $ 447,589

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Jul. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of share-based payment arrangement, option, activity	Schedule of share-based payment arrangement, option, activity Outstanding Options Shares Number of Weighted Weighted Aggregate Intrinsic Balance at April 30, 2023 9,191,671 14,808,329 $ 1.22 6.18 $ 819,900 Options granted - - $ - - Options exercised - - $ - - Options expired - - $ - - Balance at July 31, 2023 9,191,671 14,808,329 $ 1.22 5.93 $ 678,900 Options vested and expected to vest at July 31, 2023 13,808,329 $ 1.22 5.68 $ 678,900 Options exercisable at July 31, 2023 13,401,031 $ 1.20 5.61 $ 678,900
Schedule of stock-based compensation	Schedule of stock-based compensation For the Three Months Ended July 31, 2023 2022 General and administrative $ 369,380 $ 867,338

WARRANTS (Tables)

WARRANTS (Tables)	3 Months Ended
	Jul. 31, 2023
Warrants
Schedule of common stock warrants outstanding	Schedule of common stock warrants outstanding 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 0.6 $ 1.00 500,000 $ 1.00 $ 1.75 161,342 1.3 $ 1.75 161,342 $ 1.75 $ 3.00 9,427,196 1.7 $ 3.00 9,427,196 $ 3.00 $ 6.25 61,250 2.9 $ 6.25 61,250 $ 6.25 $ 1.00 6.25 10,149,788 1.6 $ 2.90 10,149,788 $ 2.90

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Jul. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of contractual obligation, fiscal year maturity	Schedule of contractual obligation, fiscal year maturity 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 24 months from completion of 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 ALZN002 License: Payment Due Date Event $ 50,000 * Completed January 2022 Upon IND application filing $ 50,000 September 2023 Upon first dosing of patient in 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 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 Biologics License Application approval * Milestone met and completed Additional AL001 Licenses: Payment Due Date Event $ 2,000,000 36 months from completion of first Phase II clinical trial Upon first patient treated in a Phase III clinical trial $ 16,000,000 August 1, 2029 First commercial sale

DESCRIPTION OF BUSINESS (Detail

DESCRIPTION OF BUSINESS (Details Narrative) - $ / shares	Jul. 31, 2023	Apr. 30, 2023
Accounting Policies [Abstract]
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001

LIQUIDITY AND GOING CONCERN (De

LIQUIDITY AND GOING CONCERN (Details Narrative)	3 Months Ended
	Jul. 31, 2023 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash	$ 1,700,000
Accumulated deficit	47,600,000
Stockholders' deficit	113,000
Net loss	3,500,000
Cash used in operating activities	$ 3,300,000

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES (Details) - shares		3 Months Ended
		Jul. 31, 2023	Jul. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount		28,358,117	28,824,788
Equity Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	[1]	18,158,329	18,600,000
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount		50,000	75,000
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount		10,149,788	10,149,788
[1]The Company has excluded 1,500,000 and 2,000,000 stock options for the three months ended July 31, 2023 and 2022, respectively, with an exercise price of $0.0004, from its anti-dilutive securities as these shares have been included in our determination of basic loss per share as they represent shares issuable for little or no cash consideration upon the satisfaction of certain conditions pursuant to FASB ASC 260-10-45-14.

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	Jul. 31, 2023	Apr. 30, 2022
Accounting Policies [Abstract]
Cash equivalents	$ 0	$ 0

NOTE RECEIVABLE FOR COMMON ST_2

NOTE RECEIVABLE FOR COMMON STOCK, RELATED PARTY (Details Narrative) - USD ($)		3 Months Ended
	Apr. 30, 2019	Jul. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Warrant terms		1 year 7 months 6 days
Outstanding receivable amount		$ 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 (Details) - USD ($)	Jul. 31, 2023	Apr. 30, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid clinical trial fees	$ 394,821	$ 352,635
Prepaid insurance	311,533	92,154
Other prepaid expenses	11,834	2,800
Total prepaid expenses and other current assets	$ 718,188	$ 447,589

PREPAID EXPENSES AND OTHER CU_4

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details Narrative) - USD ($)	Jul. 31, 2023	Apr. 30, 2023	Jun. 16, 2022
Prepaid clinical trial fees	$ 394,821	$ 352,635
Purchase D&O Insurance			$ 337,000
ALZN002 License [Member]
Prepaid clinical trial fees	$ 313,000	$ 936,000

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details)	3 Months Ended
	Jul. 31, 2023 USD ($) $ / shares shares
Share-Based Payment Arrangement [Abstract]
Shares available for grant begining (in shares)	9,191,671
Number of shares begining (in shares)	14,808,329
Weighted average exercise price begining (in dollars per share) | $ / shares	$ 1.22
Weighted average remaining contractual life begining (years)	6 years 2 months 4 days
Aggregate intrinsic value begining | $	$ 819,900
Shares available for grant, Options granted
Number of shares, Options granted
Weighted average exercise price, Options granted | $ / shares
Shares available for grant, Options exercised
Number of shares, Options exercised
Weighted average exercise price, Options exercised | $ / shares
Shares available for grant, Options expired
Number of shares, Options expired
Weighted average exercise price, Options expired | $ / shares
Shares available for grant end (in shares)	9,191,671
Number of shares end (in shares)	14,808,329
Weighted average exercise price end (in dollars per share) | $ / shares	$ 1.22
Weighted average remaining contractual life end (years)	5 years 11 months 4 days
Aggregate intrinsic value end | $	$ 678,900
Number of shares, Options vested and expected to vest at end	13,808,329
Weighted average exercise price, Options vested and expected to vest at end | $ / shares	$ 1.22
Weighted average remaining contractual life, Options vested and expected to vest at end	5 years 8 months 4 days
Aggregate intrinsic value, Options vested and expected to vest at end | $	$ 678,900
Number of shares, Options exercisable at end	13,401,031
Weighted average exercise price, Options exercisable at end | $ / shares	$ 1.20
Weighted average remaining contractual life, Options exercisable at end	5 years 7 months 9 days
Aggregate intrinsic value, Options exercisable at end | $	$ 678,900

STOCK-BASED COMPENSATION (Det_2

STOCK-BASED COMPENSATION (Details 1) - USD ($)	3 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
General and Administrative Expense [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-Based Compensation Expense	$ 369,380	$ 867,338

STOCK-BASED COMPENSATION (Det_3

STOCK-BASED COMPENSATION (Details Narrative) - USD ($)					3 Months Ended
	Oct. 14, 2021	Nov. 26, 2019	Mar. 01, 2019	Apr. 30, 2016	Jul. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options granted
Unamortized Stock Based Compensation [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unamortized stock-based compensation expense related to unvested employee and non-employee awards					$ 1,000,000
Stock Based Compensation [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted-average period					1 year 3 months 18 days
Perfromance Contingent Stock Options [Member] | Key Employees and Director [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options granted		4,250,000
Terms of award		In the event any of the stock price milestones are not achieved within three years
Perfromance Contingent Stock Options [Member] | Two Consultants [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options granted	200,000
Stock Incentive Plan2016 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized				12,500,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized			7,500,000
Stock Incentive Plan2016 [Member] | Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period				10 years

WARRANTS (Details)

WARRANTS (Details)	Jul. 31, 2023 $ / 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)	1 year 7 months 6 days
Warrant outstanding, weighted average exercise price (in dollars per share)	$ 2.90
Number of warrant exercisable | shares	10,149,788
Warrant exercisable, weighted average exercise price (in dollars per share)	$ 2.90
Minimum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercse price (in dollars per share)	1
Maximum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercse price (in dollars per share)	6.25
1.00 [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)	7 months 6 days
Warrant outstanding, weighted average exercise price (in dollars per share)	$ 1
Number of warrant exercisable | shares	500,000
Warrant exercisable, weighted average exercise price (in dollars per share)	$ 1
1.75 [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)	1 year 3 months 18 days
Warrant outstanding, weighted average exercise price (in dollars per share)	$ 1.75
Number of warrant exercisable | shares	161,342
Warrant exercisable, weighted average exercise price (in dollars per share)	$ 1.75
3.00 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercse price (in dollars per share)	$ 3
Number warrant outstanding | shares	9,427,196
Weighted average remaining contractual life (years)	1 year 8 months 12 days
Warrant outstanding, weighted average exercise price (in dollars per share)	$ 3
Number of warrant exercisable | shares	9,427,196
Warrant exercisable, weighted average exercise price (in dollars per share)	$ 3
6.25 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercse price (in dollars per share)	$ 6.25
Number warrant outstanding | shares	61,250
Weighted average remaining contractual life (years)	2 years 10 months 24 days
Warrant outstanding, weighted average exercise price (in dollars per share)	$ 6.25
Number of warrant exercisable | shares	61,250
Warrant exercisable, weighted average exercise price (in dollars per share)	$ 6.25

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details)	3 Months Ended
	Jul. 31, 2023 USD ($)
Pre Ind Meeting [Member] | A L001 License [Member]
Product Liability Contingency [Line Items]
Payment	$ 50,000
Due date	Completed September 2019	[1]
Ind Application Filing [Member] | A L001 License [Member]
Product Liability Contingency [Line Items]
Payment	$ 65,000
Due date	Completed June 2021	[1]
Upon First Dosing of Patient in Clinical Trial [Member] | A L001 License [Member]
Product Liability Contingency [Line Items]
Payment	$ 190,000
Due date	Completed December 2021	[1]
Upon Completion of First Clinical Trial [Member] | A L001 License [Member]
Product Liability Contingency [Line Items]
Payment	$ 500,000
Due date	Completed March 2022	[1]
Upon First Patient Treated In A Phase III Clinical [Member] | A L001 License [Member]
Product Liability Contingency [Line Items]
Payment	$ 1,250,000
Due date	24 months from completion of first Phase II clinical trial
Upon First Patient Treated In A Phase III Clinical [Member] | Additional A L001 License [Member]
Product Liability Contingency [Line Items]
Payment	$ 2,000,000
Due date	36 months from completion of first Phase II clinical trial
Upon Fda Approval [Member] | A L001 License [Member]
Product Liability Contingency [Line Items]
Payment	$ 10,000,000
Due date	8 years from the effective date of the agreement	[1]
Upon IND Application Filing [Member] | ALZN002 License [Member]
Product Liability Contingency [Line Items]
Payment	$ 50,000
Due date	Completed January 2022	[2]
Upon First Dosing Of Patient In First Phase I Clinical Trial [Member] | ALZN002 License [Member]
Product Liability Contingency [Line Items]
Payment	$ 50,000
Due date	September 2023	[2]
Upon Completion Of First Phase II Clinical Trial [Member] | ALZN002 License [Member]
Product Liability Contingency [Line Items]
Payment	$ 500,000
Due date	24 months from completion of first Phase I clinical trial	[2]
Upon First Patient Treated In Phase III Clinical Trial [Member] | ALZN002 License [Member]
Product Liability Contingency [Line Items]
Payment	$ 1,000,000
Due date	12 months from completion of first Phase II clinical trial	[2]
Upon FDA BLA Approval [Member] | ALZN002 License [Member]
Product Liability Contingency [Line Items]
Payment	$ 10,000,000
Due date	7 years from the effective date of the agreement	[2]
First Commercial Sale [Member] | Additional A L001 License [Member]
Product Liability Contingency [Line Items]
Payment	$ 16,000,000
Due date	August 1, 2029
[1]Milestone met and completed [2]Milestone met and completed

EQUITY TRANSACTIONS (Details Na

EQUITY TRANSACTIONS (Details Narrative) - USD ($)			1 Months Ended
	Mar. 09, 2021	Apr. 30, 2019	Mar. 31, 2021	Jul. 31, 2023	Apr. 30, 2023
Class of Stock [Line Items]
Preferred stock, shares authorized				10,000,000	10,000,000
Preferred stock, par value (in dollars per share)				$ 0.0001	$ 0.0001
Warrant terms				1 year 7 months 6 days
ALSF [Member]
Class of Stock [Line Items]
Shares purchase price		$ 15,000,000
Warrant terms		12 months
Securities Purchase Agreements [Member] | ALSF [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] | ALSF [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	$ 4,000,000
Advance from related parties	$ 1,800,000
Description of purchase agreement terms			Ault Lending (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 to Ault Lending warrants to purchase 3,333,333 shares of Common Stock at an exercise price of $3.00 per share. The term of the warrants is five years.
Securities Purchase Agreements [Member] | Digital Power Lending [Member] | Final Tranche [Member]
Class of Stock [Line Items]
Additional right to invest			$ 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
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized				8,640,000
Preferred stock, par value (in dollars per share)				$ 0.0001	$ 0.0001
Preferred stock shares designated				1,360,000	1,360,000

OTHER RELATED PARTY TRANSACTI_2

OTHER RELATED PARTY TRANSACTIONS (Details Narrative)	Nov. 30, 2022
Bitnile [Member] | Brand Development Agreement [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Description of Transaction	In November 2022, the Company entered into a marketing and brand development agreement with Ault Alliance, Inc. (“AULT”), effective August 1, 2022, whereby AULT will provide various marketing services over twelve months valued at $1.4 million. The Company had the right to pay the fee in cash or shares of its common stock with a value of $1.50 per share. On November 11, 2022, the Company elected to pay the fee with 933,334 shares of its common stock. The Company recorded the value of the agreement using the closing price of the Company’s common stock on November 11, 2022, and will amortize the expense over twelve months beginning in August 2022.

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative)	Sep. 08, 2023 USD ($)
Subsequent Event [Member] | Sales Agreement [Member] | Ascendiant Capital Markets [Member]
Subsequent Event [Line Items]
Proceeds from sale of common stock	$ 9,800,000