Alzamend Neuro (ALZN) 10-Q 11 Dec 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Oct. 31, 2024	Dec. 10, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Oct. 31, 2024
Document Fiscal Period Focus	Q2
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 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		5,432,797

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($)	Oct. 31, 2024	Apr. 30, 2024
CURRENT ASSETS
Cash	$ 4,093,073	$ 376,048
Prepaid expenses and other current assets	673,669	79,194
TOTAL CURRENT ASSETS	4,766,742	455,242
Property, plant and equipment, net	240,976	176,346
TOTAL ASSETS	5,007,718	631,588
CURRENT LIABILITIES
Accounts payable and accrued liabilities	1,254,750	2,925,059
Note payable		300,714
TOTAL LIABILITIES, ALL CURRENT	1,254,750	3,225,773
STOCKHOLDERS’ EQUITY (DEFICIT)
Common stock, $0.0001 par value: 300,000,000 shares authorized; 5,231,254 and 687,999 issued and outstanding as of October 31, 2024 and April 30, 2024, respectively	523	69
Additional paid-in capital	60,162,478	51,426,154
Accumulated deficit	(56,410,033)	(54,020,408)
TOTAL STOCKHOLDERS’ EQUITY (DEFICIT)	3,752,968	(2,594,185)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	5,007,718	631,588
Series A Preferred Stock [Member]
STOCKHOLDERS’ EQUITY (DEFICIT)
Preferred Stock, Value
Series B Preferred Stock [Member]
STOCKHOLDERS’ EQUITY (DEFICIT)
Preferred Stock, Value

Condensed Balance Sheets (Una_2

Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Oct. 31, 2024	Apr. 30, 2024
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
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	5,231,254	687,999
Common stock, shares outstanding	5,231,254	687,999
Series A Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock shares designated	3,000	3,000
Preferred stock, shares issued	87.9867	0
Preferred stock, shares outstanding	87.9867	0
Series B Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock shares designated	6,000	6,000
Preferred stock, shares issued	2,100	2,100
Preferred stock, shares outstanding	2,100	2,100

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2024	Oct. 31, 2023	Oct. 31, 2024	Oct. 31, 2023
OPERATING EXPENSES
Research and development	$ 311,088	$ 1,996,783	$ 517,659	$ 4,362,920
General and administrative	1,046,980	904,939	1,802,814	2,064,732
Total operating expenses	1,358,068	2,901,722	2,320,473	6,427,652
Loss from operations	(1,358,068)	(2,901,722)	(2,320,473)	(6,427,652)
OTHER EXPENSE, NET
Interest expense	(3,495)	(4,311)	(15,501)	(6,147)
Total other expense, net	(3,495)	(4,311)	(15,501)	(6,147)
NET LOSS	(1,361,563)	(2,906,033)	(2,335,974)	(6,433,799)
Dividends on preferred shares	(53,651)		(53,651)
NET LOSS AVAILABLE TO COMMON SHARES	$ (1,415,214)	$ (2,906,033)	$ (2,389,625)	$ (6,433,799)
Basic net loss per common share	$ (0.40)	$ (4.43)	$ (1.11)	$ (9.80)
Diluted net loss per common share	$ (0.40)	$ (4.43)	$ (1.11)	$ (9.80)
Basic weighted average common shares outstanding	3,531,702	656,378	2,154,761	656,323
Diluted weighted average common shares outstanding	3,531,702	656,378	2,154,761	656,323

Condensed Statements of Stockho

Condensed Statements of Stockholders' (Deficit) Equity (Unaudited) - USD ($)	Series A Convertible Preferred Stock [Member]	Series B 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, 2023			$ 65	$ 62,001,395	$ (14,883,295)	$ (44,072,662)	$ 3,045,503
Beginning balance, shares at Apr. 30, 2023			646,268
Issuance of common stock for cash, net of issuance costs				18,087			18,087
Issuance of common stock for cash, net of issuance costs, shares			615
Issuance of common stock for restricted stock awards
Issuance of common stock for restricted stock awards, shares			83
Subscription receivable payment received				(7,002)	7,002
Stock-based compensation to employees and consultants				687,716			687,716
Net loss						(6,433,799)	(6,433,799)
Ending balance, value at Oct. 31, 2023			$ 65	62,700,196	(14,876,293)	(50,506,461)	(2,682,493)
Ending balance, shares at Oct. 31, 2023			646,966
Beginning balance, value at Jul. 31, 2023			$ 65	62,370,775	(14,883,295)	(47,600,428)	(112,883)
Beginning balance, shares at Jul. 31, 2023			646,268
Issuance of common stock for cash, net of issuance costs				18,087			18,087
Issuance of common stock for cash, net of issuance costs, shares			615
Issuance of common stock for restricted stock awards
Issuance of common stock for restricted stock awards, shares			83
Subscription receivable payment received				(7,002)	7,002
Stock-based compensation to employees and consultants				318,336			318,336
Net loss						(2,906,033)	(2,906,033)
Ending balance, value at Oct. 31, 2023			$ 65	62,700,196	(14,876,293)	(50,506,461)	(2,682,493)
Ending balance, shares at Oct. 31, 2023			646,966
Beginning balance, value at Apr. 30, 2024			$ 69	51,426,154		(54,020,408)	(2,594,185)
Beginning balance, shares at Apr. 30, 2024		2,100	687,999
Issuance of common stock for cash, net of issuance costs			$ 76	1,174,148			1,174,224
Issuance of common stock for cash, net of issuance costs, shares			755,888
Issuance of common stock for restricted stock awards
Issuance of common stock for restricted stock awards, shares			83
Issuance of preferred stock for cash, net of issuance costs				7,088,644			7,088,644
Issuance of preferred stock for cash, net of issuance costs, shares	800
Conversion of preferred stock to common stock			$ 378	(378)
Conversion of preferred stock to common stock, shares	(712)		3,787,284
Conversion of note payable and interest to preferred stock				311,356			311,356
Stock-based compensation to employees and consultants				162,554			162,554
Net loss						(2,389,625)	(2,389,625)
Ending balance, value at Oct. 31, 2024			$ 523	60,162,478		(56,410,033)	3,752,968
Ending balance, shares at Oct. 31, 2024	88	2,100	5,231,254
Beginning balance, value at Jul. 31, 2024			$ 86	53,782,414		(54,994,819)	(1,212,319)
Beginning balance, shares at Jul. 31, 2024	188	2,100	861,332
Issuance of common stock for cash, net of issuance costs			$ 76	1,174,148			1,174,224
Issuance of common stock for cash, net of issuance costs, shares			755,888
Issuance of common stock for restricted stock awards
Issuance of common stock for restricted stock awards, shares			83
Issuance of preferred stock for cash, net of issuance costs				5,125,000			5,125,000
Issuance of preferred stock for cash, net of issuance costs, shares	550
Conversion of preferred stock to common stock			$ 361	(361)
Conversion of preferred stock to common stock, shares	(650)		3,613,951
Stock-based compensation to employees and consultants				81,277			81,277
Net loss						(1,415,214)	(1,415,214)
Ending balance, value at Oct. 31, 2024			$ 523	$ 60,162,478		$ (56,410,033)	$ 3,752,968
Ending balance, shares at Oct. 31, 2024	88	2,100	5,231,254

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Cash flows from operating activities:
Net loss	$ (2,389,625)	$ (6,433,799)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	25,370	25,370
Interest expense - debt discount	9,286
Stock-based compensation to employees and consultants	162,554	687,716
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(594,475)	(134,213)
Prepaid expenses - related party		247,334
Accounts payable and accrued liabilities	(1,668,953)	795,968
Net cash used in operating activities	(4,455,843)	(4,811,624)
Cash flows from investing activities:
Purchase of equipment	(90,000)	(147,243)
Net cash used in investing activities	(90,000)	(147,243)
Cash flows from financing activities:
Net proceeds from the issuance of common stock	1,174,224	18,087
Net proceeds from the issuance of preferred stock	7,088,644
Net cash provided by financing activities	8,262,868	18,087
Net increase (decrease) in cash	3,717,025	(4,940,780)
Cash at beginning of period	376,048	5,140,859
Cash at end of period	4,093,073	200,079
Non-cash financing activities:
Conversion of Series A convertible preferred stock	7,120,133
Fair value of warrants issued in connection with Series A convertible preferred stock	1,635,489
Conversion of note payable and accrued interest into Series B convertible preferred stock	$ 311,356

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2024	Oct. 31, 2023	Oct. 31, 2024	Oct. 31, 2023
Pay vs Performance Disclosure [Table]
Net Income (Loss)	$ (1,415,214)	$ (2,906,033)	$ (2,389,625)	$ (6,433,799)

Insider Trading Arrangements

Insider Trading Arrangements	6 Months Ended
	Oct. 31, 2024
Insider Trading Arrangements [Line Items]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	6 Months Ended
	Oct. 31, 2024
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 0.0001 Reverse Stock Split On October 27, 2023, pursuant to the authorization provided by the Company’s stockholders at a special meeting of stockholders, the Company filed an amendment to the Certificate of Incorporation to effectuate a reverse stock split of the Company’s issued and outstanding Common Stock by a ratio of one-for-fifteen (the “First Reverse Split”). The First Reverse Split did not affect the number of authorized shares of Common Stock, preferred stock or their respective par value per share. As a result of the First Reverse Split, each fifteen shares of Common Stock issued and outstanding prior to the First Reverse Split were converted into one share of Common Stock. The First Reverse Split became effective in the State of Delaware on October 31, 2023. All share amounts in these financial statements have been updated for all periods presented to reflect the First Reverse Split. On July 10, 2024, pursuant to the authorization provided by the Company’s stockholders at its annual meeting of stockholders, the Company filed an amendment to the Certificate of Incorporation to effectuate a reverse stock split of the Company’s issued and outstanding Common Stock by a ratio of one-for-ten (the “Second Reverse Split”). The Second Reverse Split did not affect the number of authorized shares of Common Stock, preferred stock or their respective par value per share. As a result of the Second Reverse Split, each ten shares of Common Stock issued and outstanding prior to the Second Reverse Split were converted into one share of Common Stock. The Second Reverse Split became effective in the State of Delaware on July 16, 2024. All share amounts in these financial statements have been updated for all periods presented to reflect the Second Reverse Split.

LIQUIDITY AND GOING CONCERN

LIQUIDITY AND GOING CONCERN	6 Months Ended
	Oct. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
LIQUIDITY AND GOING CONCERN	2. LIQUIDITY AND GOING CONCERN The accompanying condensed financial statements have been prepared on the basis that the Company will continue as a going concern. As of October 31, 2024, the Company had cash of $ 4.1 3.5 56.4 3.8 1.4 2.4 4.5 Management believes its current cash on hand is not sufficient to fund its planned operations through one year after the date the condensed 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 its ability to obtain needed financing. The Company’s condensed 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. 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. These factors create substantial doubt about our ability to continue as a going concern

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Oct. 31, 2024
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 condensed 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, 2024, filed with the SEC on July 30, 2024. In the opinion of management, the accompanying condensed interim financial statements include all adjustments necessary in order to make the condensed 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 condensed 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, 2024 has been derived from the audited balance sheet at April 30, 2024 contained in such Form 10-K. Accounting Estimates The preparation of condensed 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 condensed 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 October 31, 2024 and April 30, 2024, 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 5 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 expenses, 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 , 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 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 Six Months Ended October 31, 2024 2023 Stock options (1) 116,999 121,054 Restricted stock units 84 250 Warrants 873,450 67,665 990,533 188,969 (1) The Company has excluded 10,000 stock options for the six months ended October 31, 2024 and 2023, with an exercise price of $0.06, 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. Management has considered all other recently issued accounting standards and does not believe the adoption of such standards will have a material impact on its condensed financial statements.

PREPAID EXPENSES AND OTHER CURR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	6 Months Ended
	Oct. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
PREPAID EXPENSES AND OTHER CURRENT ASSETS	4. PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets were as follows: Schedule of prepaid expenses and other current assets October 31, 2024 April 30, 2024 Prepaid clinical trial expenses $ 490,911 $ - Prepaid insurance 163,332 60,523 Other prepaid expenses 19,426 18,671 Total prepaid expenses and other current assets $ 673,669 $ 79,194 On October 22, 2024, the Company entered into a Study Start-up Agreement with Massachusetts General Hospital (“Mass General Agreement”) in preparation for five clinical research trials for its AL001 product candidate. The Mass General Agreement required a prepayment of $ 514,000 On June 14, 2024, the Company purchased directors’ and officers’ insurance for 12 months in the amount of $ 227,000

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Oct. 31, 2024
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	5. 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 83,333 50,000 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. Restricted Stock. Stock Options. A summary of stock option activity for the six months ended October 31, 2024 is presented below: Schedule of share-based payment arrangement, option, activity Outstanding Options Shares Number of Weighted Weighted Aggregate Intrinsic Balance at April 30, 2024 62,000 98,000 $ 178.12 5.22 $ 70,500 Options granted - - $ - - Options exercised - - $ - - Options expired 3,333 (3,333 ) $ 150.00 - Balance at October 31, 2024 65,333 94,667 $ 179.11 4.90 $ 15,100 Options vested and expected to vest at October 31, 2024 88,001 $ 179.39 4.65 $ 15,100 Options exercisable at October 31, 2024 87,043 $ 178.87 4.63 $ 15,100 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. Restricted stock unit activity for the six months ended October 31, 2024 is presented below: Schedule of nonvested restricted stock units activity Shares Weighted Average Grant Date Fair Value Unvested at April 30, 2024 167 $ 375.00 Granted - - Vested 83 $ 375.00 Cancelled - - Unvested at October 31, 2024 84 $ 375.00 Performance Contingent Stock Options Granted to Employee On November 26, 2019, the Board granted 28,333 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 $1,500 per share to $3,000 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 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 October 31, 2024, management 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 13,333 performance-based stock option to the Chief Executive Officer at an exercise price of $175.50 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 II clinical trial of ALZN002 within four years from the grant date. During the three months ended July 31, 2023, management believed that it was probable that the performance condition of the completion and announcement of topline data from the Company’s Phase II clinical trial of AL001 would be achieved and had recognized the related stock-based compensation. As of October 31, 2024, management believed that the achievement of the second performance condition was 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 3,000 shares of Common Stock at a per share exercise price of $225.00 per share, of which 50% would vest upon the completion of Phase I of AL001 by March 31, 2022, and the remaining 50% would 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. The modified performance criteria was not met on or before March 31, 2024 and, as a result, the remaining unvested stock options were cancelled and 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 1,334 shares of Common Stock with an exercise price of $363.00 per share, of which 333 vest upon completion of each of the Phase II clinical trials of AL001 for a BD indication, AL001 for a PTSD indication, AL001 for an MDD indication and ALZN002 for an Alzheimer’s indication. 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 – BD; (ii) AL001- MDD; (iii) AL001 – PTSD; and (iv) ALZN002 – Alzheimer’s. During the year ended April 30, 2024, the Company filed INDs for BD, MDD and PTSD and received a “Study May Proceed” letter for BD in October 2023, MDD in November 2023 and PTSD in December 2023. As a result, 75% of the performance grant vested and the Company recognized stock-based compensation related to the vesting. As of October 31, 2024, management believed that the achievement of the remaining requisite performance condition was not probable and, as a result, no compensation cost has been recognized for these awards related to ALZN002 – Alzheimer’s. Stock-Based Compensation Expense The Company’s results of operations included expenses relating to stock-based compensation for three and six months ended October 31, 2024 and 2023, were comprised as follows: Schedule of stock-based compensation For the Three Months Ended October 31, For the Six Months Ended October 31, 2024 2023 2024 2023 Research and development $ - $ - $ - $ 142,603 General and administrative 81,277 175,733 162,554 545,113 Total $ 81,277 $ 175,733 $ 162,554 $ 687,716 As of October 31, 2024, total unamortized stock-based compensation expense related to unvested employee and non-employee awards that are expected to vest was $ 284,000 0.9

WARRANTS

WARRANTS	6 Months Ended
	Oct. 31, 2024
Guarantees and Product Warranties [Abstract]
WARRANTS	6. WARRANTS During the three months ended October 31, 2024, the Company issued warrants to purchase an aggregate of 440,000 12.50 (i) On August 19, 2024, the Company issued a warrant to purchase 160,000 12.50 2,000,000 571,000 (ii) On August 21, 2024, the Company issued a warrant to purchase 200,000 12.50 2,500,000 486,000 (iii) On September 11, 2024, the Company issued a warrant to purchase 80,000 12.50 1,000,000 69,000 Warrant activity for the six months ended October 31, 2024 is presented below: Schedule of warrant activity Number Outstanding Weighted Average Exercise Price Outstanding at April 30, 2024 240,449 $67.45 Granted 640,000 $12.50 Cancelled/Expired (6,999 ) $320.28 Outstanding at October 31, 2024 873,450 $24.35 The following table summarizes information about Common Stock warrants outstanding and exercisable at October 31, 2024: 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 $ 12.00 12.50 850,000 4.7 $ 12.38 850,000 $ 12.38 $ 450.00 23,042 1.8 $ 450.00 23,042 $ 450.00 $ 937.50 408 1.6 $ 937.50 408 $ 937.50 $ 12.00 937.50 873,450 4.7 $ 24.35 873,450 $ 24.35

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Oct. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	7. 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 of the license fees. The AL001 License Agreements require that the Company pay combined royalty payments of 4.5% The Company has already paid an initial license fee of $ 200,000 40,000 80,000 100,000 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, on April 17, 2023, the Company entered into the Sixth Amendment to the ALZN002 License and on December 11, 2023, the Company entered into the Seventh Amendment to the ALZN002 License (collectively, the “ALZN002 License Agreement”). The Seventh Amendment to the ALZN002 License modified the timing of the payments of the license fees. The ALZN002 License Agreement requires the Company to pay royalty payments of 4% The Company has already paid an initial license fee of $ 200,000 20,000 40,000 50,000 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 for the license fees. The November AL001 License Agreements require the Company to pay royalty payments of 3% 20,000 40,000 80,000 100,000 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 complete milestones and make 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 March 2025 Upon first patient treated in a Phase III clinical trial $ 10,000,000 8 years from the effective date of the agreement Upon FDA new drug application approval * Milestone met and payment made ALZN002 License: Payment Due Date $ 50,000 * Completed January 2022 $ 50,000 Upon first dosing of patient in first Phase I clinical trial $ 500,000 Upon completion of first Phase IIB clinical trial $ 1,000,000 Upon first patient treated in a Phase III clinical trial $ 10,000,000 Upon first commercial sale * Milestone met and payment made Additional AL001 Licenses: Payment Due Date Event $ 2,000,000 March 2026 Upon first patient treated in a Phase III clinical trial $ 16,000,000 August 1, 2029 First commercial sale

EQUITY TRANSACTIONS

EQUITY TRANSACTIONS	6 Months Ended
	Oct. 31, 2024
Equity [Abstract]
EQUITY TRANSACTIONS	8. EQUITY TRANSACTIONS The Company is authorized to issue 10,000,000 0.0001 3,000 6,000 9,991,000 Series A Convertible Preferred Stock On May 8, 2024, the Company and Orchid 2,500 On May 10, 2024, the Company sold 100 shares of Series A Convertible Preferred Stock and warrants to purchase 80,000 12.50 1.0 The purchase price was paid by the surrender and cancellation of a term note issued by the Company to Orchid of $ 311,356 310,000 1,356 100,000 588,644 On June 25, 2024, the Company sold 150 shares of Series A Convertible Preferred Stock and warrants to purchase 120,000 12.50 1.5 The purchase price was paid in cash. On August 19, 2024, the Company sold 200 shares of Series A Convertible Preferred Stock and warrants to purchase 160,000 12.50 2.0 The purchase price was paid in cash. On August 21, 2024, the Company sold 250 shares of Series A Convertible Preferred Stock and warrants to purchase 200,000 12.50 2.5 The purchase price was paid in cash. On September 11, 2024, the Company sold 100 shares of Series A Convertible Preferred Stock and warrants to purchase 80,000 12.50 1.0 The purchase price was paid in cash. The has a stated value of $1,000 per share and holders of the Series A Convertible Preferred Stock are entitled to cumulative cash dividends at an annual rate of 15%, or $1,500.00 per share (“Dividend Amount”), based on the stated value per share. Notwithstanding the foregoing, for as long as any share(s) of Series A Preferred Stock shall remain outstanding, the Dividend Amount shall be paid either in shares of Series A Preferred Stock or cash, at Orchid’s discretion, in each case equal to the Dividend Amount. Series B Convertible Preferred Stock On January 31, 2024, the Company and Ault Lending, LLC (“Ault Lending”) entered into a securities purchase agreement (the “AL SPA”) for the purchase of up to 6,000 shares of Series B Convertible Preferred Stock and warrants to purchase shares up to 600,000 Ault Lending has the right to purchase up to $2 million of Series B Convertible Preferred Stock, on or before March 31, 2024, and the right to purchase up to $4 million of Series B Convertible Preferred Stock after March 31, 2024, but on or before March 31, 2025 (the “Termination Date”). The Agreement will automatically terminate if the final closing has not occurred prior to the Termination Date. On January 31, 2024, the Company sold 1,220 122,000 12.00 1.22 The purchase price was paid by the cancellation of $ 1.15 70,000 On March 26, 2024, the Company sold 780 78,000 12.00 780,000 On April 29, 2024, the Company sold 100 10,000 12.00 100,000 The has a stated value of $1,000 per share (“Stated Value”) and does not accrue dividends. determined by dividing the Stated Value by $10.00 The warrants have an exercise price of $12.00 (the “Exercise Price”) and become exercisable on the first business day after the six-month anniversary of issuance (the “Initial Exercise Date”) and have a five-year term, expiring on the fifth anniversary of the Initial Exercise Date. The Exercise Price is subject to adjustment in the event of an issuance of Common Stock at a price per share lower than the Exercise Price then in effect, as well as upon customary stock splits, stock dividends, combinations or similar events. Common Stock At-the-Market Offering On October 3, 2024, the Company entered into an At-the-Market Issuance Sales Agreement with Ascendiant Capital Markets, LLC (the “ATM Offering”), as sales agent to sell shares of its Common Stock, having an aggregate offering price of up to approximately $6.5 million from time to time, through the ATM Offering. On October 3, 2024, the Company filed a prospectus supplement with the SEC relating to the offer and sale of up to approximately $6.5 million in shares of Common Stock in the ATM Offering. 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. During the six months ended October 31, 2024, the Company sold an aggregate of 755,888 1.2 Orchid SPA During the three months ended October 31, 2024, Orchid converted 649.5363 3,613,951 712.0133 3,787,284

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Oct. 31, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	9. RELATED PARTY TRANSACTIONS In connection with the Orchid SPA, the Company agreed to pay Ault Lending an origination fee of five percent (5%) of the total gross proceeds we receive from Orchid upon each purchase of Series A Convertible Preferred Stock. During the three and six months ended October 31, 2024, origination fees due to Ault Lending were $ 275,000 400,000

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Oct. 31, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	10. SUBSEQUENT EVENTS From November 1, 2024 to December 10, 2024, the Company sold an aggregate of 201,543 280,000 Management has evaluated events through the date the financial statement were available to be issued and determined that there have been no other events that occurred that would require adjustment to our disclosures in the condensed financial statements.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Oct. 31, 2024
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 condensed 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, 2024, filed with the SEC on July 30, 2024. In the opinion of management, the accompanying condensed interim financial statements include all adjustments necessary in order to make the condensed 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 condensed 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, 2024 has been derived from the audited balance sheet at April 30, 2024 contained in such Form 10-K.
Accounting Estimates	Accounting Estimates The preparation of condensed 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 condensed 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 October 31, 2024 and April 30, 2024, 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 5
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 expenses, 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 , 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 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 Six Months Ended October 31, 2024 2023 Stock options (1) 116,999 121,054 Restricted stock units 84 250 Warrants 873,450 67,665 990,533 188,969 (1) The Company has excluded 10,000 stock options for the six months ended October 31, 2024 and 2023, with an exercise price of $0.06, 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. Management has considered all other recently issued accounting standards and does not believe the adoption of such standards will have a material impact on its condensed financial statements.

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Oct. 31, 2024
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 Six Months Ended October 31, 2024 2023 Stock options (1) 116,999 121,054 Restricted stock units 84 250 Warrants 873,450 67,665 990,533 188,969 (1) The Company has excluded 10,000 stock options for the six months ended October 31, 2024 and 2023, with an exercise price of $0.06, 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.

PREPAID EXPENSES AND OTHER CU_2

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)	6 Months Ended
	Oct. 31, 2024
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 October 31, 2024 April 30, 2024 Prepaid clinical trial expenses $ 490,911 $ - Prepaid insurance 163,332 60,523 Other prepaid expenses 19,426 18,671 Total prepaid expenses and other current assets $ 673,669 $ 79,194

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Oct. 31, 2024
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, 2024 62,000 98,000 $ 178.12 5.22 $ 70,500 Options granted - - $ - - Options exercised - - $ - - Options expired 3,333 (3,333 ) $ 150.00 - Balance at October 31, 2024 65,333 94,667 $ 179.11 4.90 $ 15,100 Options vested and expected to vest at October 31, 2024 88,001 $ 179.39 4.65 $ 15,100 Options exercisable at October 31, 2024 87,043 $ 178.87 4.63 $ 15,100
Schedule of nonvested restricted stock units activity	Schedule of nonvested restricted stock units activity Shares Weighted Average Grant Date Fair Value Unvested at April 30, 2024 167 $ 375.00 Granted - - Vested 83 $ 375.00 Cancelled - - Unvested at October 31, 2024 84 $ 375.00
Schedule of stock-based compensation	Schedule of stock-based compensation For the Three Months Ended October 31, For the Six Months Ended October 31, 2024 2023 2024 2023 Research and development $ - $ - $ - $ 142,603 General and administrative 81,277 175,733 162,554 545,113 Total $ 81,277 $ 175,733 $ 162,554 $ 687,716

WARRANTS (Tables)

WARRANTS (Tables)	6 Months Ended
	Oct. 31, 2024
Guarantees and Product Warranties [Abstract]
Schedule of warrant activity	Schedule of warrant activity Number Outstanding Weighted Average Exercise Price Outstanding at April 30, 2024 240,449 $67.45 Granted 640,000 $12.50 Cancelled/Expired (6,999 ) $320.28 Outstanding at October 31, 2024 873,450 $24.35
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 $ 12.00 12.50 850,000 4.7 $ 12.38 850,000 $ 12.38 $ 450.00 23,042 1.8 $ 450.00 23,042 $ 450.00 $ 937.50 408 1.6 $ 937.50 408 $ 937.50 $ 12.00 937.50 873,450 4.7 $ 24.35 873,450 $ 24.35

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Oct. 31, 2024
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 March 2025 Upon first patient treated in a Phase III clinical trial $ 10,000,000 8 years from the effective date of the agreement Upon FDA new drug application approval * Milestone met and payment made ALZN002 License: Payment Due Date $ 50,000 * Completed January 2022 $ 50,000 Upon first dosing of patient in first Phase I clinical trial $ 500,000 Upon completion of first Phase IIB clinical trial $ 1,000,000 Upon first patient treated in a Phase III clinical trial $ 10,000,000 Upon first commercial sale * Milestone met and payment made Additional AL001 Licenses: Payment Due Date Event $ 2,000,000 March 2026 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	Oct. 31, 2024	Apr. 30, 2024
Accounting Policies [Abstract]
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001

LIQUIDITY AND GOING CONCERN (De

LIQUIDITY AND GOING CONCERN (Details Narrative) $ in Thousands	3 Months Ended	6 Months Ended
	Oct. 31, 2024 USD ($)	Oct. 31, 2024 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash	$ 4,100	$ 4,100
Working capital deficiency	3,500	3,500
Accumulated deficit	56,400	56,400
Stockholders' deficit	3,800	3,800
Net loss	$ 1,400	2,400
Cash used in operating activities		$ 4,500

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES (Details) - shares		6 Months Ended
		Oct. 31, 2024	Oct. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount		990,533	188,969
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]	116,999	121,054
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		84	250
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount		873,450	67,665
[1]The Company has excluded 10,000 stock options for the six months ended October 31, 2024 and 2023, with an exercise price of $0.06, 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 ($)	Oct. 31, 2024	Apr. 30, 2024
Accounting Policies [Abstract]
Cash equivalents	$ 0	$ 0
Property and equipment estimated useful life	5 years

PREPAID EXPENSES AND OTHER CU_3

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) - USD ($)	Oct. 31, 2024	Apr. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid clinical trial expenses	$ 490,911
Prepaid insurance	163,332	60,523
Other prepaid expenses	19,426	18,671
Total prepaid expenses and other current assets	$ 673,669	$ 79,194

PREPAID EXPENSES AND OTHER CU_4

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details Narrative) - USD ($)	Oct. 22, 2024	Jun. 14, 2024
Directors and Officers Liability Insurance [Member]
Insurance purchased		$ 227,000
A L001 License [Member]
Prepaid clinical trial fees	$ 514,000

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details)	6 Months Ended
	Oct. 31, 2024 USD ($) $ / shares shares
Share-Based Payment Arrangement [Abstract]
Shares available for grant begining (in shares)	62,000
Number of shares begining (in shares)	98,000
Weighted average exercise price begining (in dollars per share) | $ / shares	$ 178.12
Weighted average remaining contractual life begining (years)	5 years 2 months 19 days
Aggregate intrinsic value begining | $	$ 70,500
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	3,333
Number of shares, Options expired	(3,333)
Weighted average exercise price, Options expired | $ / shares	$ 150
Shares available for grant end (in shares)	65,333
Number of shares end (in shares)	94,667
Weighted average exercise price end (in dollars per share) | $ / shares	$ 179.11
Weighted average remaining contractual life end (years)	4 years 10 months 24 days
Aggregate intrinsic value end | $	$ 15,100
Number of shares, Options vested and expected to vest at end	88,001
Weighted average exercise price, Options vested and expected to vest at end | $ / shares	$ 179.39
Weighted average remaining contractual life, Options vested and expected to vest at end	4 years 7 months 24 days
Aggregate intrinsic value, Options vested and expected to vest at end | $	$ 15,100
Number of shares, Options exercisable at end	87,043
Weighted average exercise price, Options exercisable at end | $ / shares	$ 178.87
Weighted average remaining contractual life, Options exercisable at end	4 years 7 months 17 days
Aggregate intrinsic value, Options exercisable at end | $	$ 15,100

STOCK-BASED COMPENSATION (Det_2

STOCK-BASED COMPENSATION (Details 1)	6 Months Ended
	Oct. 31, 2024 $ / shares shares
Share-Based Payment Arrangement [Abstract]
Unvested shares, Beginning balance | shares	167
Unvested Weighted Average Grant Date Fair Value, Beginning balance | $ / shares	$ 375
Unvested shares, Granted | shares
Unvested Weighted Average Grant Date Fair Value, Granted | $ / shares
Unvested shares, Vested | shares	83
Unvested Weighted Average Grant Date Fair Value, Vested | $ / shares	$ 375
Unvested shares, Cancelled | shares
Unvested Weighted Average Grant Date Fair Value, Cancelled | $ / shares
Unvested shares, Ending balance | shares	84
Unvested Weighted Average Grant Date Fair Value, Ending balance | $ / shares	$ 375

STOCK-BASED COMPENSATION (Det_3

STOCK-BASED COMPENSATION (Details 2) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2024	Oct. 31, 2023	Oct. 31, 2024	Oct. 31, 2023
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total	$ 81,277	$ 175,733	$ 162,554	$ 687,716
Research and Development Expense [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total				142,603
General and Administrative Expense [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total	$ 81,277	$ 175,733	$ 162,554	$ 545,113

STOCK-BASED COMPENSATION (Det_4

STOCK-BASED COMPENSATION (Details Narrative) - USD ($)				6 Months Ended
	Nov. 26, 2019	Mar. 01, 2019	Apr. 30, 2016	Oct. 31, 2024
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				$ 284,000
Stock Based Compensation [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted-average period				10 months 24 days
Perfromance Contingent Stock Options [Member] | Key Employees and Director [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options granted	28,333
Terms of award	In the event any of the stock price milestones are not achieved within three years
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			83,333
Share-based compensation arrangement by share-based payment award, number of additional shares authorized		50,000
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)	6 Months Ended
	Oct. 31, 2024 $ / shares shares
Guarantees and Product Warranties [Abstract]
Class of warrant or right, outstanding, beginning | shares	240,449
Weighted average exercise price, beginning | $ / shares	$ 67.45
Class of warrant or right, outstanding, granted | shares	640,000
Weighted average exercise price, granted | $ / shares	$ 12.50
Class of warrant or right, outstanding, cancelled/expired | shares	(6,999)
Weighted average exercise price, cancelled/expired | $ / shares	$ 320.28
Class of warrant or right, outstanding, ending | shares	873,450
Weighted average exercise price, ending | $ / shares	$ 24.35

WARRANTS (Details 1)

WARRANTS (Details 1) - $ / shares	Oct. 31, 2024	Apr. 30, 2024
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercse price (in dollars per share)	$ 24.35	$ 67.45
Class of Warrant or Right, Outstanding	873,450	240,449
$12.00 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Class of Warrant or Right, Outstanding	850,000
Weighted average remaining contractual life (years)	4 years 8 months 12 days
Warrant outstanding, weighted average exercise price (in dollars per share)	$ 12.38
Number of warrant exercisable	850,000
Warrant exercisable, weighted average exercise price (in dollars per share)	$ 12.38
$12.00 [Member] | Minimum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercse price (in dollars per share)	12
$12.00 [Member] | Maximum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercse price (in dollars per share)	12.50
$450.00 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercse price (in dollars per share)	$ 450
Class of Warrant or Right, Outstanding	23,042
Weighted average remaining contractual life (years)	1 year 9 months 18 days
Warrant outstanding, weighted average exercise price (in dollars per share)	$ 450
Number of warrant exercisable	23,042
Warrant exercisable, weighted average exercise price (in dollars per share)	$ 450
$937.50 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercse price (in dollars per share)	$ 937.50
Class of Warrant or Right, Outstanding	408
Weighted average remaining contractual life (years)	1 year 7 months 6 days
Warrant outstanding, weighted average exercise price (in dollars per share)	$ 937.50
Number of warrant exercisable	408
Warrant exercisable, weighted average exercise price (in dollars per share)	$ 937.50
$12.00 - $937.50 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Class of Warrant or Right, Outstanding	873,450
Weighted average remaining contractual life (years)	4 years 8 months 12 days
Warrant outstanding, weighted average exercise price (in dollars per share)	$ 24.35
Number of warrant exercisable	873,450
Warrant exercisable, weighted average exercise price (in dollars per share)	$ 24.35
$12.00 - $937.50 [Member] | Minimum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercse price (in dollars per share)	12
$12.00 - $937.50 [Member] | Maximum [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercse price (in dollars per share)	$ 937.50

WARRANTS (Details Narrative)

WARRANTS (Details Narrative) - USD ($)		1 Months Ended			6 Months Ended
	Sep. 11, 2024	Dec. 10, 2024	Aug. 21, 2024	Aug. 19, 2024	Oct. 31, 2024	Apr. 30, 2024
Exercise price (in dollars per share)					$ 24.35	$ 67.45
Value of common stock sold		$ 280,000			$ 1,200,000
Warrant 2024 [Member]
Aggregate number of stock repurchase	80,000		200,000	160,000	440,000
Exercise price (in dollars per share)	$ 12.50		$ 12.50	$ 12.50	$ 12.50
Value of common stock sold	$ 1,000,000		$ 2,500,000	$ 2,000,000
Fair value of warrant	$ 69,000		$ 486,000	$ 571,000

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details)	6 Months Ended
	Oct. 31, 2024 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	March 2025
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	March 2026
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
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	Upon first dosing of patient in first Phase I clinical trial
Upon Completion Of First Phase II Clinical Trial [Member] | ALZN002 License [Member]
Product Liability Contingency [Line Items]
Payment	$ 500,000
Due date	Upon completion of first Phase IIB clinical trial
Upon First Patient Treated In Phase III Clinical Trial [Member] | ALZN002 License [Member]
Product Liability Contingency [Line Items]
Payment	$ 1,000,000
Due date	Upon first patient treated in a Phase III clinical trial
Upon FDA BLA Approval [Member] | ALZN002 License [Member]
Product Liability Contingency [Line Items]
Payment	$ 10,000,000
Due date	Upon first commercial sale
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 payment made[2]Milestone met and payment made

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)			1 Months Ended
	Jul. 02, 2018	May 02, 2016	Nov. 19, 2019
A L001 License [Member]
Product Liability Contingency [Line Items]
Percentage of royalty payments on net sales of product	4.50%
Description of licenses agreements	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 14,853 shares of 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.
Initial license fees	$ 200,000
A L001 License [Member] | First Anniversary [Member]
Product Liability Contingency [Line Items]
Payments for royalties	40,000
A L001 License [Member] | Second Anniversary [Member]
Product Liability Contingency [Line Items]
Payments for royalties	80,000
A L001 License [Member] | Third Anniversary [Member]
Product Liability Contingency [Line Items]
Payments for royalties	$ 100,000
ALZN002 License [Member]
Product Liability Contingency [Line Items]
Percentage of royalty payments on net sales of product		4%
Description of licenses agreements		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 24,012 shares of 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.
Initial license fees		$ 200,000
ALZN002 License [Member] | First Anniversary [Member]
Product Liability Contingency [Line Items]
Payments for royalties		20,000
ALZN002 License [Member] | Second Anniversary [Member]
Product Liability Contingency [Line Items]
Payments for royalties		40,000
ALZN002 License [Member] | Third Anniversary [Member]
Product Liability Contingency [Line Items]
Payments for royalties		$ 50,000
Additional A L001 License [Member]
Product Liability Contingency [Line Items]
Percentage of royalty payments on net sales of product			3%
Initial license fees			$ 20,000
Additional A L001 License [Member] | First Anniversary [Member]
Product Liability Contingency [Line Items]
Payments for royalties			40,000
Additional A L001 License [Member] | Second Anniversary [Member]
Product Liability Contingency [Line Items]
Payments for royalties			80,000
Additional A L001 License [Member] | Third Anniversary [Member]
Product Liability Contingency [Line Items]
Payments for royalties			$ 100,000

EQUITY TRANSACTIONS (Details Na

EQUITY TRANSACTIONS (Details Narrative) - USD ($)				1 Months Ended							3 Months Ended	6 Months Ended
	Sep. 11, 2024	May 10, 2024	May 08, 2024	Dec. 10, 2024	Aug. 21, 2024	Aug. 19, 2024	Jun. 25, 2024	Apr. 29, 2024	Mar. 26, 2024	Jan. 31, 2024	Oct. 31, 2024	Oct. 31, 2024	Apr. 30, 2024
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	$ 0.0001
Exercise price											$ 24.35	$ 24.35	67.45
Value of common stock sold				$ 280,000								$ 1,200,000
Number of common stock sold				201,543								755,888
Converted shares											649.5363	712.0133
Number of shares issued											3,613,951	3,787,284
Warrant 2024 [Member]
Class of Stock [Line Items]
Number of shares purchase	80,000				200,000	160,000
Exercise price	$ 12.50				$ 12.50	$ 12.50					$ 12.50	$ 12.50
Value of common stock sold	$ 1,000,000				$ 2,500,000	$ 2,000,000
Warrant [Member]
Class of Stock [Line Items]
Number of common stock sold								10,000	78,000	122,000
Securities Purchase Agreements [Member]
Class of Stock [Line Items]
Principal issued		$ 311,356
Principal amount		310,000
Accrued interest		1,356
Discount		100,000
Net cash		$ 588,644
Securities Purchase Agreements [Member] | Series B Convertible Preferred Stock [Member] | Ault Lending [Member]
Class of Stock [Line Items]
Number of shares purchase										600,000
Termination loans description										Ault Lending has the right to purchase up to $2 million of Series B Convertible Preferred Stock, on or before March 31, 2024, and the right to purchase up to $4 million of Series B Convertible Preferred Stock after March 31, 2024, but on or before March 31, 2025 (the “Termination Date”). The Agreement will automatically terminate if the final closing has not occurred prior to the Termination Date.
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized											9,991,000	9,991,000
Preferred stock, par value (in dollars per share)											$ 0.0001	$ 0.0001	$ 0.0001
Preferred stock shares designated											3,000	3,000	3,000
Series A Preferred Stock [Member] | Securities Purchase Agreements [Member]
Class of Stock [Line Items]
Number of shares purchase			2,500
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, par value (in dollars per share)											$ 0.0001	$ 0.0001	$ 0.0001
Preferred stock shares designated											6,000	6,000	6,000
Exercise price								$ 12	$ 12	$ 12
Shares purchase price								$ 100,000	$ 780,000	$ 1,220,000
Number of common stock sold								100	780	1,220
Cancellations of cash advances										$ 1,150,000
Subscription receivable										$ 70,000
Common Stock [Member] | Securities Purchase Agreements [Member]
Class of Stock [Line Items]
Number of shares purchase		80,000					120,000
Exercise price		$ 12.50					$ 12.50
Shares purchase price		$ 1,000,000					$ 1,500,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended	6 Months Ended
	Oct. 31, 2024	Oct. 31, 2024
Related Party Transactions [Abstract]
Origination fees	$ 275,000	$ 400,000

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	1 Months Ended	6 Months Ended
	Dec. 10, 2024	Oct. 31, 2024
Subsequent Events [Abstract]
Number of common stock sold	201,543	755,888
Value of common stock sold	$ 280,000	$ 1,200,000