Formation Minerals (FOMI) 10-Q 14 Feb 25 2025 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Oct. 31, 2024	Feb. 14, 2025
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Amendment Flag	false
Document Period End Date	Oct. 31, 2024
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q2
Entity Information [Line Items]
Entity Registrant Name	FORMATION MINERALS, INC.
Entity Central Index Key	0001885336
Entity File Number	001-41209
Entity Tax Identification Number	87-2406468
Entity Incorporation, State or Country Code	NV
Current Fiscal Year End Date	--04-30
Entity Current Reporting Status	No
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Incorporation, Date of Incorporation	Sep. 08, 2020
Entity Contact Personnel [Line Items]
Entity Address, Address Line One	P.O. Box 67
Entity Address, City or Town	Jacksboro
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	76458
Entity Phone Fax Numbers [Line Items]
City Area Code	(972)
Local Phone Number	217-4080
Entity Listings [Line Items]
Title of 12(b) Security	None
Entity Common Stock, Shares Outstanding		99,112,508

Condensed Interim Consolidated

Condensed Interim Consolidated Balance Sheets (Unaudited) - USD ($)	Oct. 31, 2024	Apr. 30, 2024
Current Assets
Cash	$ 9,555	$ 3,704
Accounts receivable	93,828	64,257
Prepayments and other receivables	24,870	85,867
Total current assets	128,253	153,828
Non-current assets
Oil and natural gas properties, net based on the full cost method of accounting	201,421	394,736
Total assets	329,674	548,564
Current Liabilities
Accounts payable and accrued liabilities	2,438,216	1,006,500
Convertible notes payable	142,554	32,583
Warrant liabilities		1,228,018
Dividends payable	527,064	185,757
Total Liabilities	3,252,450	2,538,621
Commitments and contingencies
STOCKHOLDERS’ DEFIECIENCY
Common Stock: $0.01 par value, 1,850,000,000 authorized, 99,112,508 and 6,921,350 issued and outstanding as at October 31, 2024 and April 30, 2024 respectively.	991,126	69,214
Additional paid-in capital	17,419,832	18,205,604
Accumulated deficit	(21,333,808)	(20,264,946)
Total Stockholders’ deficiency	(2,922,776)	(1,990,057)
Total liabilities and stockholders’ deficiency	329,674	548,564
Related parties
Current Liabilities
Amounts and loans due related parties	144,616	85,763
Class A Preferred Stock
STOCKHOLDERS’ DEFIECIENCY
Preferred stock, value	17	17
Class B Preferred Stock
STOCKHOLDERS’ DEFIECIENCY
Preferred stock, value	$ 57	$ 54

Condensed Interim Consolidate_2

Condensed Interim Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Oct. 31, 2024	Apr. 30, 2024
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, share authorized	1,850,000,000	1,850,000,000
Common stock, share issued	99,112,508	6,921,350
Common stock, share outstanding	99,112,508	6,921,350
Class A Preferred Stock
Preferred stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred stock, share authorized	2,000	2,000
Preferred stock, share issued	1,665	1,665
Preferred stock, share outstanding	1,665	1,665
Class B Preferred Stock
Preferred stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred stock, share authorized	10,000	10,000
Preferred stock, share issued	5,704	5,704
Preferred stock, share outstanding	5,704	5,704

Condensed Interim Consolidate_3

Condensed Interim Consolidated Statements of Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2024	Oct. 31, 2023	Oct. 31, 2024	Oct. 31, 2023
Revenue
Mineral property and royalty revenues	$ 87,281	$ 59,496	$ 123,420	$ 135,190
Operating Expenses
Consulting fees	24,375	70,616	80,410	155,859
Depletion expense	35,065	39,200	53,315	95,283
Depreciation expense		15,483		30,966
General and administrative	341,869	191,845	841,392	349,477
Professional fees	375,483	45,680	527,789	127,305
Stock compensation	306,000		306,000
Project expenditures				6,581
Total Operating Expenses	1,082,792	362,824	1,808,906	765,471
Net Operating Loss	(995,511)	(303,328)	(1,685,486)	(630,281)
Other Income (Expenses)
Financing cost		(17,750)		(18,750)
Amortization of debt discount	(13,100)		(13,100)
Interest expense	(7,958)	(10,834)	(72,571)	(11,562)
Gain upon extinguishment of warrant liabilities			1,043,542
Other revenue				11,885
Total Other Income (Expenses)	(21,058)	(28,584)	957,871	(18,427)
Net Loss	(1,016,569)	(331,912)	(727,615)	(648,708)
Series C Preferred Stock Dividends	(317,064)	(18,914)	(341,307)	(38,766)
Net Loss to Common Shareholders	$ (1,333,633)	$ (350,826)	$ (1,068,922)	$ (687,474)
Net Loss Per Share – Basic (in Dollars per share)	$ (0.01)	$ (0.06)	$ (0.01)	$ (0.12)
Net Loss Per Share – Diluted (in Dollars per share)	$ (0.01)	$ (0.06)	$ (0.01)	$ (0.12)
Weighted Average Shares Outstanding – Basic (in Shares)	99,855,954	5,742,084	9,144,026	5,552,744
Weighted Average Shares Outstanding – Diluted (in Shares)	99,855,954	5,742,084	9,144,026	5,552,744

Condensed Interim Consolidate_4

Condensed Interim Consolidated Statements of Stockholders’ Deficiency (Equity) (Unaudited) - USD ($)	Preferred Stock Class A	Preferred Stock Class B	Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total
Balance at Apr. 30, 2023			$ 500	$ 5,136	$ 18,239,117	$ (16,033,070)	$ 2,211,683
Balance (in Shares) at Apr. 30, 2023			500,000	5,135,503
Series C preferred stock issued for commitment fee					1,000		1,000
Common shares issued for conversion of Series C preferred stock				$ 466	(456)
Common shares issued for conversion of Series C preferred stock (in Shares)				465,933
Series C preferred stock issued for cash					11,000		11,000
Series C preferred stock dividend					(19,852)		(19,852)
Net income (loss) for the period						(316,796)	(316,796)
Balance at Jul. 31, 2023			$ 500	$ 6,602	18,230,799	(16,349,866)	1,887,035
Balance (in Shares) at Jul. 31, 2023			500,000	5,601,436
Common shares issued for conversion of Series C preferred stock				$ 240	(240)
Common shares issued for conversion of Series C preferred stock (in Shares)				239,623
Series C preferred stock dividend					(18,914)		(18,914)
Net income (loss) for the period						(331,912)	(331,912)
Balance at Oct. 31, 2023			$ 500	$ 5,842	18,211,645	(16,681,778)	1,536,209
Balance (in Shares) at Oct. 31, 2023			500,000	5,841,059
Balance at Apr. 30, 2024	$ 17	$ 54		$ 69,214	18,205,604	(20,264,946)	(1,990,057)
Balance (in Shares) at Apr. 30, 2024	1,665	5,354		6,921,350
Adjustment pursuant to reverse acquisition transaction				$ 844,592	(1,678,204)		(833,612)
Adjustment pursuant to reverse acquisition transaction (in Shares)				84,459,183
Issuance of Class B preferred stock					50,000		50,000
Issuance of Class B preferred stock (in Shares)		50
Issuance of Class B preferred stock - transaction cost		$ 1			99,999		100,000
Issuance of Class B preferred stock - transaction cost (in Shares)		100
Extinguishment of warrant liabilities and transfer to equity					184,476		184,476
Class B preferred stock dividend						(24,243)	(24,243)
Net income (loss) for the period						289,014	289,014
Balance at Jul. 31, 2024	$ 17	$ 55		$ 913,806	16,861,875	(20,000,175)	(2,224,421)
Balance (in Shares) at Jul. 31, 2024	1,665	5,504		91,380,533
Balance at Apr. 30, 2024	$ 17	$ 54		$ 69,214	18,205,604	(20,264,946)	(1,990,057)
Balance (in Shares) at Apr. 30, 2024	1,665	5,354		6,921,350
Adjustment pursuant to reverse acquisition transaction							833,612
Balance at Oct. 31, 2024	$ 17	$ 57		$ 991,126	17,419,832	(21,333,808)	(2,922,776)
Balance (in Shares) at Oct. 31, 2024	1,665	5,705		99,112,508
Balance at Jul. 31, 2024	$ 17	$ 55		$ 913,806	16,861,875	(20,000,175)	(2,224,421)
Balance (in Shares) at Jul. 31, 2024	1,665	5,504		91,380,533
Stock compensation				$ 45,000	261,000		306,000
Stock compensation (in Shares)				4,500,000
Conversion of notes payable				$ 32,320	99,959		129,279
Conversion of notes payable (in Shares)				3,231,975
Issuance of Class B preferred stock		$ 2			199,998		200,000
Issuance of Class B preferred stock (in Shares)		200
Class B preferred stock dividend						(317,064)	(317,064)
Net income (loss) for the period						(1,016,569)	(1,016,569)
Balance at Oct. 31, 2024	$ 17	$ 57		$ 991,126	$ 17,419,832	$ (21,333,808)	$ (2,922,776)
Balance (in Shares) at Oct. 31, 2024	1,665	5,705		99,112,508

Condensed Interim Consolidate_5

Condensed Interim Consolidated Statements of Cash Flow (Unaudited) - USD ($)	6 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Operating Activities
Net income (loss) for the period	$ (727,615)	$ (648,708)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of right-of-use asset		19,861
Depreciation expense		30,966
Amortization of debt discount	13,100
Depletion expense	53,315	95,283
Original issuance discount and transaction fees on financing		17,750
Shares issued for commitment fee	100,000	1,000
Stock compensation	306,000
Gain upon extinguishment of warrant liabilities	(1,043,542)
Changes in operating assets and liabilities:
Accounts receivable	(29,571)	17,746
Prepayments and other receivables	36,152	(17,023)
Accounts payable and accrued liabilities	786,297	(124,413)
Operating lease liability		(21,337)
Net Cash Used In Operating Activities	(505,864)	(628,875)
Investing Activities
Acquisition of oil and gas properties		(68,881)
Proceeds from sale of oil and gas properties	140,000	398,750
Net Cash Provided By Investing Activities	140,000	329,869
Financing Activities
Proceeds from convertible notes	185,943	80,000
Proceeds from issuance of Class B preferred stock	250,000	11,000
Repayment of convertible notes	(64,228)	(260,855)
Repayment of related party loan		(42,000)
Proceeds from related party loans		525,000
Net Cash Provided by Financing Activities	371,715	313,145
Change in Cash (Bank Overdraft)	5,851	14,139
Cash – Beginning of Period	3,704	25,836
Cash (Bank Overdraft) – End of Period	$ 9,555	$ 39,975

Description of Business

Description of Business	6 Months Ended
	Oct. 31, 2024
Description of Business [Abstract]
DESCRIPTION OF BUSINESS	1. DESCRIPTION OF BUSINESS Formation Minerals, Inc., a Nevada corporation, (“FOMI” or the “Company”) was incorporated on September 8, 2020 under the name “SensaSure Technologies Inc.” under the laws of the State of Nevada with an authorized share capital of 250,000,000 shares of common stock, $0.01 par value (the “Common Stock”), 5,000,000 of shares of Class A preferred stock, $0.001 par value, and 5,000,000 shares of Class B preferred stock, $0.001 par value, as of April 30, 2024. The Company did not issue any shares of Common Stock, Class A preferred stock, $0.001 par value or Class B preferred stock, $0.001 par value before December 21, 2020. On May 9, 2024, the Company’s amended and restated its articles of incorporation (the “Amended and Restated Articles of Incorporation”) to increase the number of shares of capital stock which the Company is authorized to issue to 2,000,000,000 shares and authorize the issuance of up to 150,000,000 shares of “blank check” preferred stock (Note 6). On May 2, 2024, the Certificates of Designation of Preferences, Rights and Limitations of the Class A Preferred Stock and Class B Preferred Stock were cancelled with the Nevada Secretary of State. On May 9, 2024, following the filing of the Amended and Restated Articles of Incorporation, the Company filed a Certificate of Designation of Preferences, Rights and Limitations of Class A Convertible Preferred Stock, par value $0.01 per share (“Class A Preferred Stock”), and a Certificate of Designation of Preferences, Rights and Limitations of Class B Convertible Preferred Stock, par value $0.01 per share (“Class B Preferred Stock”), with the Nevada Secretary of State to designate 2,000 shares of the Company’s authorized and unissued preferred stock as Class A Preferred Stock and 10,000 shares of the Company’s authorized and unissued preferred stock as Class B Preferred Stock, and establish the voting powers, designations, preferences and relative participation and other rights and qualifications, limitations and restrictions of such securities. SensaBues AB (“Sensabues”) was incorporated in the Kingdom of Sweden in November 2009. Until November 1, 2023, Sensabues owned the core intellectual properties for the design of sample collection devices and the methodologies to collect, extract and detect the non-volatile substances presented within aerosols in exhaled breath. These aerosols, which originate from the lungs and blood, are captured using electret-based filter technologies. This non-invasive breath-based biological sample collection and testing methodology is called ExaBreath (“EB”) technology. Sensabues performed medical device design and research focusing on developing and commercializing EB for disease detection, exposure monitoring, and drug metabolism. During the three months ended January 31, 2024, the Company began winding-up the business of Sensabues to reduce operating expenses associated with maintaining the exhale breath technology patents. Since then, management of the Company has been in the process of establishing a new business segment to develop energy related businesses which led to the entry into that certain agreement and plan of merger with Verde Bio Holdings, Inc., a Nevada corporation (“Verde”), and Formation Minerals Inc., a Nevada corporation and the Company’s then wholly-owned subsidiary (“Merger Sub”), as of December 11, 2023, as amended as of February 8, 2024 (the “Merger Agreement”), providing for the merger of Merger Sub with and into Verde, with Verde continuing as the surviving entity (the “Merger”). The Merger was completed at 4:15 p.m., Eastern Time, on May 9, 2024 (the “Effective Time”) and the separate existence of Merger Sub ceased. Following the Effective Time, pursuant to articles of merger filed with the Nevada Secretary of State, Verde was merged with and into the Company with the Company continuing as the surviving corporation and the Company changed its name to “Formation Minerals, Inc.”. Following the Merger, the Company has been focused on the acquisition and exploitation of upstream energy assets, specifically targeting oil and gas mineral interests, oil and gas royalty interests and select non-operated working interests. Pursuant to the Merger, the Company completed the following transactions: ● As of the Effective Time, FOMI issued 6,921,350 shares of Common Stock to acquire all 2,078,599,390 outstanding shares of the common stock, par value $0.001, of Verde (the “Verde Common Stock”), based on an exchange ratio of 300.47. The fair value of the consideration effectively transferred was calculated using the number of shares of Verde Common Stock that would have been issued to the stockholders of FOMI on the date the Merger was consummated to give FOMI an equivalent ownership interest in Verde as it has in FOMI multiplying the market price of the shares of Verde Common Stock. The fair value of those shares of Verde Common Stock was determined at $11,414,040 based on the market quote on the date the Merger was consummated. ● As of the Effective Time, FOMI issued 1,665 shares of Class A Preferred Stock to acquire all outstanding shares of Series A preferred stock, par value $0.001, of Verde (the “Verde Series A Preferred Stock”), which was 500,000 by using an exchange ratio of approximately 300. The fair value of the consideration effectively transferred was calculated using the number of shares of Verde Series A Preferred Stock that would have been issued to the stockholders of FOMI on the date the Merger was consummated to give FOMI an equivalent ownership interest in Verde as it has in FOMI multiplying the fair value per share of Verde Series A Preferred Stock. The fair value of those shares of Verde Series A Preferred Stock was determined at $500. ● As of the Effective Time, FOMI issued 5,354 shares of Class B preferred stock of FOMI to acquire all outstanding shares of Series C preferred stock, par value $0.001, of Verde (the “Verde Series C Preferred Stock”), which was 803 by using an exchange ratio of approximately 0.15. The fair value of the consideration effectively transferred was calculated using the number of shares of Verde Series C Preferred Stock that would have been issued to the stockholders of FOMI on the date the Merger was consummated to give FOMI an equivalent ownership interest in Verde as it has in FOMI multiplying the fair value per share of Verde Series C Preferred Stock. The fair value per share of Verde Series C Preferred Stock was determined at $803. ● Effective immediately following the Effective Time, FOMI issued to Spartan Capital Securities, LLC, a New York limited liability company (“Spartan”) 5,000,000 shares of Common Stock in consideration of services Spartan provided; and (ii) FOMI issued 23,110,000 shares of Common Stock to Li Sze Tang, in consideration of services provided. ● As of the Effective Time, FOMI assumed all of Verde’s obligations under Verde’s common stock purchase warrant issued on December 8, 2021 and January 27, 2022 (the “Verde Warrants”) and issued and delivered to the Verde Warrant holder, in exchange for the Verde Warrant, a common stock purchase warrant to purchase up to 205,962 and 210,195 shares of Common Stock, respectively, at an exercise price of $0.75 per share and the Verde Warrants expire on December 8, 2026 and January 27, 2027, respectively (the “FOMI Warrants”) respectively. The FOMI Warrants are subject to a beneficial ownership limitation of 4.99% of the number of shares of Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of the FOMI Warrants. Going Concern These condensed interim consolidated financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. During the period ended October 31, 2024, the Company had a net loss of $727,615 and used cash of $505,864 for operating activities. As at October 31, 2024, the Company had an accumulated deficit of $21,333,808. The continuation of the Company as a going concern is dependent upon our ability to identify future investment opportunities and obtain the necessary debt or equity financing, and generating profitable operations from the Company’s future operations. In the past the Company has relied, and expects to continue to rely on the issuance and sale of shares of Common Stock and preferred stock in order to continue to fund its business operations. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern for a period of one year from the date these financial statements were issued on February 14, 2025. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Oct. 31, 2024
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Basis of Presentation and Principles of Consolidation The accompanying condensed interim consolidated financial statements of the Company should be read in conjunction with the consolidated financial statements and accompany notes filed with the U.S. Securities and Exchange Commission for the fiscal year ended April 30, 2024. These condensed interim consolidated financial statements are unaudited and have been prepared on the same basis as the annual consolidated financial statements and in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the Company’s financial position, results of operations and cash flows for the periods shown. The results of operations for such periods are not necessarily indicative of the results expected for a full year or for any future period. These condensed interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and are expressed in U.S. dollars. The condensed interim consolidated financial statements are comprised of the records of the Company. All intercompany transactions have been eliminated on consolidation. The Company’s fiscal year end is April 30. (b) Reverse Acquisition The Merger was accounted for as a “reverse acquisition” since, immediately following completion of the Merger, the stockholders of Verde acquired control of FOMI. For accounting purposes, Verde was deemed to be the accounting acquirer in the transaction and, consequently, the transaction is treated as a recapitalization of Verde (i.e., a capital transaction involving the issuance of shares by the Company for the shares of Verde). Accordingly, the historical financial statements, consolidated assets, liabilities and results of operations of Verde became the historical financial statements of the Company and its subsidiaries, and the Company’s assets, liabilities and results of operations were consolidated with those of Verde beginning at the Effective Time. No step-up in basis or intangible assets or goodwill were recorded in the Merger. The difference between the reverse acquisition transaction consideration and the net assets acquired is treated as a reduction in equity. (c) Use of Estimates The preparation of these condensed interim consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the collectability of accounts receivable relating to oil and gas interests which is based on the operator’s production statements, carrying value of oil and gas properties, the useful life, carrying value, and incremental borrowing rate used for right of use assets and lease liabilities, the fair value of stock-based compensation, shares issued to acquire and exchange other equity instruments and equity classified warrants, revenue recognition including the calculation of the reserves and the fair value of the reserves for oil and gas interests, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. (d) Basic and Diluted Earnings / Loss per Share The Company has adopted the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 260-10 which provides for calculation of “basic” and “diluted” earnings per share. Basic earnings (loss) per share includes no dilution and is computed by dividing net income or loss available to common stockholders by the weighted average number of shares of Common Stock outstanding for the period. Diluted earnings (loss) per share reflect the potential dilution of securities that could share in the earnings of an entity. The Company assessed the potentially dilutive shares quantitatively and qualitatively and considered the effect is insignificant as at October 31, 2024. (e) Fair Value Measurements The Company measures and discloses the estimated fair value of financial assets and liabilities using the fair value hierarchy prescribed by U.S. GAAP. The fair value hierarchy has three levels, which are based on reliable available inputs of observable data. The hierarchy requires the use of observable market data when available. The three-level hierarchy is defined as follows: Level 1 – quoted prices for identical instruments in active markets; Level 2 – quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model derived valuations in which significant inputs and significant value drivers are observable in active markets; and Level 3 – fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Financial instruments consist principally of cash, accounts payable and accrued liabilities, notes payable, convertible debentures and amounts due to related parties. The fair value of cash is determined based on Level 1 inputs. The recorded values of all other financial instruments approximate their current fair values because of their nature and respective relatively short maturity dates or durations. Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. (f) Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Royalty Interests in Oil and Ga

Royalty Interests in Oil and Gas Properties	6 Months Ended
	Oct. 31, 2024
Royalty Interests in Oil and Gas Properties [Abstract]
ROYALTY INTERESTS IN OIL AND GAS PROPERTIES	3. ROYALTY INTERESTS IN OIL AND GAS PROPERTIES $ Balance, April 30, 2024 394,736 Acquisition and exploration cost - Disposal of mineral property (140,000 ) Depletion expense (35,064 ) Balance, October 31, 2024 201,421 On May 22, 2024, the Company entered into a purchase and sale agreement for the sale of certain mineral and royalty interests with a private buyer whereby the Company is selling various mineral and oil and gas royalty interests in exchange for $140,000 in cash. Such purchase and sale agreement is for the sale of the right, title and interest to certain properties located in Bienville Parish, LA, Belmont County, OH, Ohio County, WV, Red River Parish, LA and Brazos County, TX. On June 27, 2024, the Company entered into a purchase and sale agreement (the “Purchase and Sale Agreement”) with a private seller, pursuant to which we have agreed to purchase all the rights, title and interest in and to various oil, gas, condensate, and other hydrocarbons that may be produced and saved from the lands described in certain oil, gas and mineral leases (the “Property”), for the purchase price of $220,000 in cash. The acquisition is subject to customary closing conditions, including the receipt of adequate financing, and was expected to close on or about July 26, 2024. However, the closing date was extended until such time as the Company has raised sufficient capital to close on the transaction. Pursuant to the terms of the Purchase and Sale Agreement, we are entitled to the cash flow from oil and gas production attributable to the Property beginning on July 1, 2024. The Company is working to secure the requisite financing to complete this acquisition.

Convertible Loans

Convertible Loans	6 Months Ended
	Oct. 31, 2024
Convertible Loans [Abstract]
CONVERTIBLE LOANS	4. CONVERTIBLE LOANS On January 9, 2023, Verde entered into a convertible loan agreement, with an arms-length party for $71,960 net of original issuance discount of $7,710 and legal fees of $4,250. Under the terms of the agreement, Verde incurred a one-time interest charge of $8,635 upon the closing of the agreement, which has been recorded in accounts payable and accrued liabilities and is required to remit a monthly repayment of $8,060 commencing in March 2023. The loan contained the following default provision: in case of default, the outstanding principal balance would increase to 150% of the principal balance owing at the time of default, and the holder would have the right to convert the remaining balance outstanding at the time of default at 75% of the lowest trading price of Verde Common Stock for the last 10 trading days prior to default. During the six months ended October 31, 2023, Verde repaid in full the outstanding principal and accrued and unpaid interest under the convertible loan. On March 2, 2023, Verde entered into an additional convertible loan agreement with the same arms-length party for $225,874 net of original issuance discount of $24,202 and financing fees of $26,672. Under the terms of the agreement, Verde incurred a one-time interest charge of $27,104 upon the closing of the agreement, which has been recorded in accounts payable and accrued liabilities and is required to remit a monthly repayment of $25,298 commencing in March 2023. The loan contained the following default provision: in case of default, the outstanding principal balance would increase to 150% of the principal balance owing at the time of default, and the holder would have the right to convert the remaining balance outstanding at the time of default at 75% of the lowest trading price of Verde Common Stock for the last 10 trading days prior to default. During the six months ended October 31, 2023, Verde repaid in full the outstanding principal and accrued and unpaid interest under the convertible loan. On October 4, 2023, Verde entered into an additional convertible loan agreement with the same arms-length party for $97,750 net of original issuance discount of $12,750 and financing fees of $17,750. Under the terms of the agreement, Verde incurred a one-time interest charge of $10,753 upon the closing of the agreement, which has been recorded in accounts payable and accrued liabilities and is required to remit a monthly repayment of $12,056 commencing on November 15, 2023. If Verde defaults on the loan agreement, the outstanding principal balance will increase to 150% of the principal balance owing at the time of default, and the holder has the right to convert the remaining balance outstanding at the time of default at 75% of the lowest trading price of Verde Common stock for the last 10 trading days prior to default. During the year ended April 30, 2024, Verde repaid a total of $72,336 on the convertible loan, comprised of $65,167 of principal and $7,169 of accrued interest. During the period ended October 31, 2024, the Company repaid a total of $36,167 on the convertible loan, comprised of $32,583 of principal and $3,584 of accrued interest. As of October 31, 2024, the loan was fully paid. On May 14, 2024 (the “Issue Date”), the Company issued and sold to 1800 Diagonal Lending LLC, a Virginia limited liability company (“Diagonal”), a promissory note (the “Diagonal Note”) in the principal amount of $123,050 (the “Diagonal Loan”), for a purchase price of $107,000, reflecting an original issue discount of $16,050, which matures on March 15, 2025, pursuant to a securities purchase agreement (the “Diagonal Purchase Agreement”), dated May 14, 2024, by and between the Company and Diagonal. A one-time interest charge of 12% of the principal amount, or $14,766, was applied on the Issue Date to the Diagonal Loan and recorded as prepaid interest. Accrued, unpaid interest and outstanding principal, subject to adjustments, must be paid by the Company to Diagonal in ten (10) monthly payments of $13,781.60, that began on June 15, 2024, for aggregate repayment amount of $137,816.00. The prepaid interest is netted against the principal balance in the Company’s financial statements. The Company has a five (5) day grace period with respect to each payment date. The Company has the right to accelerate payments or prepay in full at any time with no prepayment penalty. Any amount of principal or interest on the Diagonal Note which is not paid when due shall bear interest at the rate of 22% per annum from the date due thereof until the same is paid. Upon issuance of the note, the Company recorded an original issue discount of $16,050. During the six months ended October 31, 2024, the Company amortized $8,946 of the discount. The remaining balance on the discount at October 31, 2024 was $7,104. During the period ended October 31, 2024, the Company repaid a total of $78,993 on the convertible loan, comprised of $64,227 of principal and $4,681 of prepaid interest. As of October 31, 2024, the unpaid balance was composed of principal in amount of $73,589, a discount of $7,104, and prepaid interest of $10,085, for net balance of $56,400. On August 15, 2024 (the “Issue Date”), the Company issued and sold to 1800 Diagonal Lending LLC, a Virginia limited liability company (“Diagonal”), a Promissory Note (the “Diagonal Note”) in the principal amount of $98,400 (the “Diagonal Loan”), for a purchase price of $82,000, reflecting an original issue discount of $16,400, which matures on June 15, 2025, pursuant to a Securities Purchase Agreement, dated as of August 15, 2024, by and between the Company and Diagonal. In addition, the Company reimbursed Diagonal’s expenses of $7,000. A one-time interest charge of 15% of the principal amount, or $14,760, was applied on the Issue Date to the Diagonal Loan and recorded as prepaid interest. The prepaid interest is netted against the principal balance in the Company’s financial statements. The Company recorded an original issue discount of $16,400. During the six months ended October 31, 2024, the Company amortized $4,154 of the discount. The remaining balance on the discount at October 31, 2024 was $12,246. Accrued, unpaid interest and outstanding principal, subject to adjustments, must be paid by the Company to Diagonal in 5 monthly payments of $14,145 beginning March 15, 2025 and one payment of $56,580 on February 15, 2025 for aggregate repayment amount of $113,160. The Company has a five (5) day grace period with respect to each payment date. The Company has the right to accelerate payments or prepay in full at any time with no prepayment penalty. Any amount of principal or interest on the Diagonal Note which is not paid when due shall bear interest at the rate of 22% per annum from the date due thereof until the same is paid. The balance of the note, discount, and prepaid interest was $113,160, $12,246 and $14,760, respectively, for a net balance of $86,154 on October 31, 2024.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Oct. 31, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	5. RELATED PARTY TRANSACTIONS The Company had the following balances and transactions with related parties except as disclosed in other notes: (a) Amounts due to related parties At October 31, 2024, salary payable to the former Chief Executive Officer of the Company included in amounts due to related parties was $252,885 (April 30, 2024 - $182,885). (b) Loans from related party At October 31, 2024, the Company owed $120,962 (April 30, 2024 - $85,763) to the President and Chief Executive Officer and director of the Company for loans which are non-interest bearing, unsecured, and due on demand. (c) Loans from other stockholders In October 2024, the Company converted demand loans in the amount of $129,279 into 3,231,975 shares of common stock. The balance of the demand loans was $0 at October 31, 2024.

Stockholders' Deficiency

Stockholders' Deficiency	6 Months Ended
	Oct. 31, 2024
Stockholders Deficiency [Abstract]
STOCKHOLDERS’ DEFICIENCY	6. STOCKHOLDERS’ DEFICIENCY (a) Common Stock As at October 31, 2024, the Company had 1,850,000,000 shares of Common Stock authorized and 99,112,508 shares of Common Stock issued and outstanding. On May 9, 2024, the Company issued 6,921,350 shares of Common Stock to acquire all 2,078,599,390 outstanding shares of the Verde Common Stock based on an exchange ratio of 300.47. The opening number of shares of Verde Common Stock at the beginning of the periods ended July 31, 2024 and 2023 have been retrospectively adjusted by using the exchange ratio to reflect FOMI’s legal capital structure. On May 9, 2024, the Company issued 28,110,000 shares of Common Stock to two consultants pursuant to the Merger Agreement. In June 2024, the Company entered into a consulting agreement with a consultant and issued 4,500,000 shares of Common Stock to the consultant. The fair market value of the Common Stock on the date of issuance was $306,000. In October 2024, the Company converted demand loans in the amount of $129,279 into 3,231,975 shares of Common Stock. On April 30, 2024, the Company had 56,349,183 issued and outstanding shares of Common Stock. Those shares of Common Stock were included in statements of stockholder’s deficiency for the period ended October 31, 2024 as recapitalization shares. During the period ended October 31, 2023, Verde issued 140,000,000 shares of Verde Common Stock pursuant to the conversion of 42 shares of Verde Series C Preferred Stock. According to the completed reverse acquisition, all issued and outstanding shares of Verde Series C Preferred Stock were exchanged for the Class B Preferred Stock, therefore, the number of shares of Verde Series C Preferred Stock converted and shares of Verde Common Stock previously issued by Verde were retrospectively adjusted by using the exchange ratios of 0.15 and 300.47, respectively. (b) Class A Preferred Stock As at October 31, 2024, the Company had 2,000 shares of Class A Preferred Stock authorized and 1,665 shares of Class A Preferred Stock issued and outstanding. The holder of shares of Class A Preferred Stock is entitled to receive dividends equal to the amount of the dividend or distribution per share of Common Stock payable multiplied by the number of shares of Class A Preferred Stock held by such holder. The holder of Class A Preferred Stock is entitled to cast 100,000 votes for every share of Class A Preferred Stock held. On May 9, 2024, FOMI issued 1,665 shares of Class A Preferred Stock to acquire all outstanding shares of Verde Series A Preferred Stock, which was 500,000 by using an exchange ratio of 300.47. The number of shares of Class A Preferred Stock (previously Verde Series A Preferred Stock) of the Company at the beginning of the periods ended October 31, 2024 and 2023 have been retrospectively adjusted by using the exchange ratio to reflect FOMI’s legal capital structure. (c) Class B Preferred Stock As at October 31, 2024, the Company had 10,000 shares of Class B Preferred Stock authorized and 5,704 shares of Class B Preferred Stock issued and outstanding. The Class B Preferred Stock has a dividend rate at 10% per annum. As at October 31, 2024, the Company recorded accrued dividends payable of $527,064 (April 30, 2024 - $185,757). On May 9, 2024, the Company issued 5,354 shares of Class B Preferred Stock to acquire all outstanding shares of Verde Series C Preferred Stock, which was 803 by using an exchange ratio of 0.15. The opening number of shares of Class B Preferred Stock (previously Verde Series C Preferred Stock) of the Company at the beginning of the periods ended July 31, 2024 and 2023 have been retrospectively adjusted by using the exchange ratio to reflect FOMI’s legal capital structure. Upon completion of the reverse acquisition, the shares of Class B Preferred Stock (previously Verde Series C Preferred Stock) was reclassified under permanent equity. On June 10, 2024, the Company entered into a Securities Purchase Agreement (“Purchase Agreement”) with GHS Investments LLC, a Nevada limited liability company (“GHS”), for the purchase of up to 250 shares of Class B Preferred Stock, in a private placement at $1,000 per share, for aggregate gross proceeds of up to $250,000. Pursuant to the Purchase Agreement (i) effective June 10, 2024, the Company issued and sold 250 shares of the Class B Preferred Stock (the “Initial Shares”) to GHS for an aggregate of $250,000 in gross proceeds and issued to GHS 100 shares of Class B Preferred Stock as an equity incentive for the purchase of the shares of Class B Preferred Stock pursuant the Purchase Agreement. (Note 8). (d) Stock Purchase Warrants FOMI Warrants are classified under equity in additional paid-in capital in accordance with ASC 480, Distinguishing Liabilities from Equity. Accordingly, the previously liability classified warrant liabilities in the amount of $1,228,018 at April 30, 2024 was extinguished. The fair value of the FOMI Warrants in the amount of $184,746 were based on the Black-Scholes option pricing model assuming an expected life of 2.6 to 2.7 years, volatility of 100%, risk-free rate of 1.23%, and no expected dividends. The difference between the carrying amount of warrant liabilities extinguished and the equity warrant recognized, in the amount of $1,043,542 was recognized in the condensed interim consolidated statement of income. Number of Weighted Balance, October 31, 2024 and April 30, 2024 416,157 0.75 Additional information regarding share purchase warrants as of April 30, 2024 is as follows: Outstanding and exercisable Number of Warrants Weighted 416,157 2.6 to 2.7 (e) Reverse acquisition The difference between, the pre-acquisition of stockholders’ deficits in the amount of $833,612 and the fair value of reverse acquisition consideration in the amount of $11,415,343 was treated as a reduction of equity and charged to additional paid-in capital.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Oct. 31, 2024
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	7. COMMITMENTS AND CONTINGENCIES From time to time, the Company may be involved in litigation relating to claims arising out of operations in the normal course of business. As at October 31, 2024, there were no pending or threatened lawsuits that could reasonably be expected to have a material effect on the results of the Company’s operations. There are also no proceedings in which any of the Company’s directors, officers or affiliates is an adverse party or has a material interest adverse to the Company’s interest.

Subsequent Events

Subsequent Events	6 Months Ended
	Oct. 31, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	8. SUBSEQUENT EVENTS The Company’s management has evaluated subsequent events up to February 5, 2025, the date these consolidated financial statements were issued, pursuant to the requirements of ASC 855 and has determined to disclose the following subsequent events. Sale of Oil and Gas Properties On December 5, 2024, we entered into a purchase and sale agreement (the “Purchase and Sale Agreement”) with a private buyer, pursuant to which we agreed to sell all our rights, title and interest in and to various oil, gas, condensate, and other hydrocarbons that may be produced and saved from the lands described in certain oil, gas and mineral leases, for the purchase price of $75,000 in cash, effective as of December 1, 2024. The Purchase and Sale Agreement includes customary representations, warranties and covenants for a transaction of this type. The transaction closed on December 6, 2024. Equity Line of Credit with GHS Investments LLC On December 31, 2024, we entered into an equity financing agreement with GHS (the GHS Equity Financing Agreement”), pursuant to which, GHS has committed, subject to the satisfaction or waiver of certain conditions, to purchase up to an aggregate of $10.0 million shares of Common Stock, subject to certain limitations, from time to time and at the Company’s sole discretion over a 24-month period as described below. The GHS Equity Financing Agreement further provides that the Company must issue one million (1,000,000) shares of Common Stock to GHS as an equity incentive at the closing of, and in addition to the shares of Common Stock issued at, the initial purchase of shares of Common Stock pursuant to the GHS Equity Financing Agreement. The purchase price of the shares of Common Stock issuable pursuant to the GHS Equity Financing Agreement will be eighty percent (80%) of the market price of such shares of Common Stock, provided, however, that. if at any time, such shares of Common Stock are listed and traded on The Nasdaq Stock Market LLC or another national securities exchange having similar price restriction, the purchase price will be ninety percent (90%) of the lowest volume weighted average price as reported by Bloomberg, L.P. during the applicable pricing period. On December 31, 2024, we also entered into a registration rights agreement (the “Registration Rights Agreement” with GHS. Under the Registration Rights Agreement, the Company agreed to file one or more registration statement (the “Registration Statement”), as necessary, to register under the Securities Act the resale of all of the shares o Common Stock that may, from time to time, be issued or become issuable to GHS under the Equity Financing Agreement and the Registration Rights Agreement. The Registration Rights Agreement requires that the Company file, within 30 days after execution of the Registration Rights Agreement, an initial Registration Statement and use commercially reasonable efforts to have such Registration Statement declared effective by the SEC within thirty (30 calendar days, but no more than ninety (90) calendar days after the Company has filed such Registration Statement. Securities Purchase Agreement with GHS Investments LLC On January 10, 2025, we entered into a securities purchase agreement with GHS under which we sold 95 shares of our Class B Preferred Stock at $1,000 per share, raising $95,000 in gross proceeds, and issued an additional 10 shares of Common Stock as an equity incentive. Concurrently, we executed a placement agency agreement with Icon, whereby Icon agreed to act on a reasonable best efforts basis in connection with the financing and is entitled to a fee equal to 2.0% of the aggregate gross proceeds (with an initial fee of $1,800), with the net proceeds from the financing intended for general working capital purposes. Securities Purchase Agreement with Accredited Investor On January 14, 2025, the Company entered into a common stock purchase agreement (the “January Purchase Agreement”) with an accredited investor (the “Investor”), pursuant to which, the Investor has committed, subject to the satisfaction or waiver of certain conditions, to purchase up to an aggregate of $1.0 million of shares of Common Stock, subject to certain limitations, from time to time and at the Company’s sole discretion (the “January Shares”), commencing on the date of the January Purchase Agreement and ending on December 31, 2025. Pursuant to the January Purchase Agreement, the Company has the option to exercise this right by providing a notice (a “Purchase Notice”) to the Investor setting forth the number of January Shares that the Company is requesting the Investor to purchase. The maximum number of January Shares that may be purchased pursuant to a Purchase Notice cannot exceed (i) 35,000,000 shares of Common Stock if the volume weighted average price of the Common Stock for the five business days prior to a Purchase Notice is less than $0.01, and (ii) an amount of shares of Common Stock which would have a purchase price of greater than $250,000. The purchase price for such January Shares will be the lowest traded price of the Common Stock on the New York Stock Exchange, the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, or any of the OTC Markets, whichever is the principal market on which the Common Stock is then listed and traded during the five Business Days prior to a Closing Date (as defined in the January Purchase Agreement) with respect to a Purchase Notice, as reported by Bloomberg, L.P., and multiplied by 75%; provided, however, that if at any time, such shares of Common Stock are listed and traded on The Nasdaq Stock Market LLC or another national securities exchange having similar price restriction, the purchase price will be ninety percent (90%) of the lowest volume weighted average price as reported by Bloomberg L.P., during the applicable pricing period. On January 14, 2025, as consideration for the Investor’s commitment to purchase the January Shares, the Company issued to the Investor a common stock purchase warrant (the “Investor Warrant”) to purchase up to a number of shares of Common Stock (the “Investor Warrant Shares”) with an aggregate value equal to 50% of the Commitment Amount divided by the Exercise Price (as defined below), which is based on a Company valuation of $5,000,000. The exercise price per Investor Warrant Share (the “Exercise Price”) will be calculated by dividing $5,000,000 by the total number of issued and outstanding shares of Common Stock as of the exercise date of the Investor Warrant. The Investor Warrant will expire on January 14, 2030. The Investor will not have the right to exercise any portion of the Investor Warrant to the extent that, after giving effect to such exercise, the beneficial ownership of the Investor, along with its affiliates, would exceed the Beneficial Ownership Limitation. Enclave Capital LLC (“Enclave”) acted as investment banker in connection with the January Purchase Agreement and will receive a cash fee equal to 8.0% of the aggregate consideration received by the Company at each closing under the Purchase Agreement pursuant to a letter agreement dated November 6, 2024 between the Company and Enclave, in addition to reimbursement of Enclave’s out-of-pocket expenses in connection with the services rendered up to an aggregate of $50,000 for all services rendered thereunder.

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
Net Income (Loss)	$ (1,016,569)	$ (331,912)	$ (727,615)	$ (648,708)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Oct. 31, 2024
Trading Arrangements, by Individual
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

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended
	Oct. 31, 2024
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	(a) Basis of Presentation and Principles of Consolidation The accompanying condensed interim consolidated financial statements of the Company should be read in conjunction with the consolidated financial statements and accompany notes filed with the U.S. Securities and Exchange Commission for the fiscal year ended April 30, 2024. These condensed interim consolidated financial statements are unaudited and have been prepared on the same basis as the annual consolidated financial statements and in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the Company’s financial position, results of operations and cash flows for the periods shown. The results of operations for such periods are not necessarily indicative of the results expected for a full year or for any future period. These condensed interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and are expressed in U.S. dollars. The condensed interim consolidated financial statements are comprised of the records of the Company. All intercompany transactions have been eliminated on consolidation. The Company’s fiscal year end is April 30.
Reverse Acquisition	(b) Reverse Acquisition The Merger was accounted for as a “reverse acquisition” since, immediately following completion of the Merger, the stockholders of Verde acquired control of FOMI. For accounting purposes, Verde was deemed to be the accounting acquirer in the transaction and, consequently, the transaction is treated as a recapitalization of Verde (i.e., a capital transaction involving the issuance of shares by the Company for the shares of Verde). Accordingly, the historical financial statements, consolidated assets, liabilities and results of operations of Verde became the historical financial statements of the Company and its subsidiaries, and the Company’s assets, liabilities and results of operations were consolidated with those of Verde beginning at the Effective Time. No step-up in basis or intangible assets or goodwill were recorded in the Merger. The difference between the reverse acquisition transaction consideration and the net assets acquired is treated as a reduction in equity.
Use of Estimates	(c) Use of Estimates The preparation of these condensed interim consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the collectability of accounts receivable relating to oil and gas interests which is based on the operator’s production statements, carrying value of oil and gas properties, the useful life, carrying value, and incremental borrowing rate used for right of use assets and lease liabilities, the fair value of stock-based compensation, shares issued to acquire and exchange other equity instruments and equity classified warrants, revenue recognition including the calculation of the reserves and the fair value of the reserves for oil and gas interests, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.
Basic and Diluted Earnings / Loss per Share	(d) Basic and Diluted Earnings / Loss per Share The Company has adopted the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 260-10 which provides for calculation of “basic” and “diluted” earnings per share. Basic earnings (loss) per share includes no dilution and is computed by dividing net income or loss available to common stockholders by the weighted average number of shares of Common Stock outstanding for the period. Diluted earnings (loss) per share reflect the potential dilution of securities that could share in the earnings of an entity. The Company assessed the potentially dilutive shares quantitatively and qualitatively and considered the effect is insignificant as at October 31, 2024.
Fair Value Measurements	(e) Fair Value Measurements The Company measures and discloses the estimated fair value of financial assets and liabilities using the fair value hierarchy prescribed by U.S. GAAP. The fair value hierarchy has three levels, which are based on reliable available inputs of observable data. The hierarchy requires the use of observable market data when available. The three-level hierarchy is defined as follows: Level 1 – quoted prices for identical instruments in active markets; Level 2 – quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model derived valuations in which significant inputs and significant value drivers are observable in active markets; and Level 3 – fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Financial instruments consist principally of cash, accounts payable and accrued liabilities, notes payable, convertible debentures and amounts due to related parties. The fair value of cash is determined based on Level 1 inputs. The recorded values of all other financial instruments approximate their current fair values because of their nature and respective relatively short maturity dates or durations. Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates.
Recent Accounting Pronouncements	(f) Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Royalty Interests in Oil and _2

Royalty Interests in Oil and Gas Properties (Tables)	6 Months Ended
	Oct. 31, 2024
Royalty Interests in Oil and Gas Properties [Abstract]
Schedule of Royalty Interests in Oil and Gas Properties	ROYALTY INTERESTS IN OIL AND GAS PROPERTIES $ Balance, April 30, 2024 394,736 Acquisition and exploration cost - Disposal of mineral property (140,000 ) Depletion expense (35,064 ) Balance, October 31, 2024 201,421

Stockholders' Deficiency (Table

Stockholders' Deficiency (Tables)	6 Months Ended
	Oct. 31, 2024
Stockholders Deficiency [Abstract]
Schedule of Stock Purchase Warrants	Number of Weighted Balance, October 31, 2024 and April 30, 2024 416,157 0.75 Additional information regarding share purchase warrants as of April 30, 2024 is as follows: Outstanding and exercisable Number of Warrants Weighted 416,157 2.6 to 2.7

Description of Business (Detail

Description of Business (Details)			3 Months Ended			6 Months Ended
	Jan. 27, 2022 $ / shares shares	Dec. 08, 2021 $ / shares shares	Oct. 31, 2024 USD ($) $ / shares shares	Jul. 31, 2024 USD ($)	Oct. 31, 2023 USD ($)	Oct. 31, 2024 USD ($) $ / shares shares	Oct. 31, 2023 USD ($)	May 09, 2024 $ / shares shares	Apr. 30, 2024 USD ($) $ / shares shares	Dec. 21, 2020 $ / shares
Description of Business [Line Items]
Date of incorporation						Sep. 08, 2020
Common stock shares authorized			1,850,000,000			1,850,000,000			1,850,000,000
Common stock, par value (in Dollars per share) | $ / shares			$ 0.01			$ 0.01			$ 0.01
Shares of common stock			99,112,508			99,112,508			6,921,350
Common stock, shares outstanding			99,112,508			99,112,508			6,921,350
Fair value (in Dollars) | $			$ 200,000	$ 50,000
Warrants expire	Jan. 27, 2027	Dec. 08, 2026
Percentage of ownership limitation						4.99%
Net loss for the period (in Dollars) | $			(1,016,569)		$ (331,912)	$ (727,615)	$ (648,708)
Operating activities (in Dollars) | $						(505,864)	$ (628,875)
Accumulated deficit (in Dollars) | $			$ (21,333,808)			$ (21,333,808)			$ (20,264,946)
Formation Minerals, Inc. [Member]
Description of Business [Line Items]
Shares of common stock			6,921,350			6,921,350
Li Sze Tang [Member]
Description of Business [Line Items]
Shares issued for services						23,110,000
Warrant [Member]
Description of Business [Line Items]
Warrants purchase		205,962
Exercise price (in Dollars per share) | $ / shares	$ 0.75	$ 0.75
Class A Preferred Stock [Member]
Description of Business [Line Items]
Shares of preferred stock			1,665			1,665			1,665
Preferred stock, par value (in Dollars per share) | $ / shares			$ 0.01			$ 0.01			$ 0.01
Preferred stock authorized			2,000			2,000			2,000
Class A Preferred Stock [Member] | Formation Minerals, Inc. [Member]
Description of Business [Line Items]
Shares of preferred stock									5,000,000
Preferred stock, par value (in Dollars per share) | $ / shares									$ 0.001	$ 0.001
Class B Preferred Stock [Member]
Description of Business [Line Items]
Shares of preferred stock			5,704			5,704			5,704
Preferred stock, par value (in Dollars per share) | $ / shares			$ 0.01			$ 0.01			$ 0.01
Preferred stock authorized			10,000			10,000			10,000
Class B Preferred Stock [Member] | Formation Minerals, Inc. [Member]
Description of Business [Line Items]
Shares of preferred stock			5,354			5,354			5,000,000
Preferred stock, par value (in Dollars per share) | $ / shares									$ 0.001	$ 0.001
Shares of preferred stock								10,000
Class A Convertible Preferred Stock [Member]
Description of Business [Line Items]
Preferred stock, par value (in Dollars per share) | $ / shares								$ 0.01
Class B Convertible Preferred Stock [Member]
Description of Business [Line Items]
Preferred stock, par value (in Dollars per share) | $ / shares								$ 0.01
Series A Preferred Stock [Member]
Description of Business [Line Items]
Preferred stock, par value (in Dollars per share) | $ / shares			$ 0.001			$ 0.001
Convertible exchange ratio			300			300
Fair value (in Dollars) | $						$ 500
Number of shares using an exchange ratio						500,000
Series C Preferred Stock [Member]
Description of Business [Line Items]
Preferred stock, par value (in Dollars per share) | $ / shares			$ 0.001			$ 0.001
Convertible exchange ratio			0.15			0.15
Fair value (in Dollars) | $						$ 803
Number of shares using an exchange ratio						803
Common Stock [Member]
Description of Business [Line Items]
Common stock shares authorized									250,000,000
Common stock, par value (in Dollars per share) | $ / shares			$ 0.001			$ 0.001			$ 0.01
Convertible exchange ratio			300.47			300.47
Fair value (in Dollars) | $
Common Stock [Member] | Formation Minerals, Inc. [Member]
Description of Business [Line Items]
Common stock, shares outstanding			2,078,599,390			2,078,599,390
Fair value (in Dollars) | $						$ 11,414,040
Common Stock [Member] | Spartan Capital Securities, LLC [Member]
Description of Business [Line Items]
Shares issued for services						5,000,000
Common Stock [Member] | Warrant [Member]
Description of Business [Line Items]
Warrants purchase	210,195
Preferred Stock [Member]
Description of Business [Line Items]
Shares of preferred stock								150,000,000
Preferred stock authorized								2,000,000,000
Preferred Stock [Member] | Class A Preferred Stock [Member]
Description of Business [Line Items]
Shares of preferred stock								2,000
Fair value (in Dollars) | $
Preferred Stock [Member] | Class B Preferred Stock [Member]
Description of Business [Line Items]
Fair value (in Dollars) | $			$ 2

Royalty Interests in Oil and _3

Royalty Interests in Oil and Gas Properties (Details) - USD ($)			6 Months Ended
	Jun. 27, 2024	May 22, 2024	Oct. 31, 2024	Oct. 31, 2023
Royalty Interests in Oil and Gas Properties [Abstract]
Proceeds from sale of oil and gas properties		$ 140,000	$ 140,000	$ 398,750
Purchase price	$ 220,000

Royalty Interests in Oil and _4

Royalty Interests in Oil and Gas Properties - Schedule of Royalty Interests in Oil and Gas Properties (Details)	6 Months Ended
	Oct. 31, 2024 USD ($)
Schedule of Royalty Interests in Oil and Gas Properties [Abstract]
Balance Beginning	$ 394,736
Acquisition and exploration cost
Disposal of mineral property	(140,000)
Depletion expense	(35,064)
Balance Ending	$ 201,421

Convertible Loans (Details)

Convertible Loans (Details) - USD ($)									6 Months Ended	12 Months Ended
	Mar. 15, 2025	Feb. 15, 2025	Aug. 15, 2024	Jun. 15, 2024	May 14, 2024	Oct. 04, 2023	Mar. 02, 2023	Jan. 09, 2023	Oct. 31, 2024	Apr. 30, 2024
Convertible Loans [Line Items]
Convertible loan agreement						$ 97,750	$ 225,874	$ 71,960		$ 72,336
Issuance discount						12,750	24,202	7,710
Legal fees								4,250
Interest charge						10,753	27,104	8,635
Repayment of debt						$ 12,056	$ 25,298	$ 8,060
Outstanding principal balance increase						150%	150%	150%
Trading days						10 days	10 days	10 days
Financing fees						$ 17,750	$ 26,672
Outstanding principal amount			$ 14,760							65,167
Debt interest rate									22%
Unpaid balance discount									$ 7,104
Net balance									56,400
Notes payable discount									12,246
Convertible Loan [Member]
Convertible Loans [Line Items]
Repayment of debt									36,167
Remaining balance percentage						75%	75%	75%
Accrued interest									3,584	$ 7,169
Issue date			Aug. 15, 2024		May 14, 2024
Verde Convertible Loan Agreement [Member]
Convertible Loans [Line Items]
Repaid principal amount									32,583
Diagonal Purchase Agreement [Member]
Convertible Loans [Line Items]
Issuance discount									7,104
Securities Purchase Agreement [Member]
Convertible Loans [Line Items]
Total balance original issue discount			$ 16,400
1800 Diagonal Lending LLC [Member]
Convertible Loans [Line Items]
Issuance discount					$ 16,050
Repayment of debt					137,816
Outstanding principal amount					123,050
Purchase price					$ 107,000
Debt interest rate					22%
Total balance original issue discount					$ 16,050
Prepaid interest									10,085
Unpaid balance principal amount									73,589
Net balance									86,154
1800 Diagonal Lending LLC [Member] | Convertible Loan [Member]
Convertible Loans [Line Items]
Repayment of debt									78,993
1800 Diagonal Lending LLC [Member] | Promissory Note [Member]
Convertible Loans [Line Items]
Remaining balance percentage					12%
Repaid principal amount									64,227
Maturity date					Mar. 15, 2025
Periodic payment				$ 13,781.6
1800 Diagonal Lending LLC [Member] | Diagonal Purchase Agreement [Member]
Convertible Loans [Line Items]
Issuance discount									8,946
Outstanding principal amount					$ 14,766
Diagonal Lending LLC [Member] | Promissory Note [Member]
Convertible Loans [Line Items]
Prepaid interest									4,681
1800 Diagonal Lending LLC One [Member]
Convertible Loans [Line Items]
Issuance discount			16,400						4,154
Interest charge			7,000
Outstanding principal amount			98,400
Purchase price			$ 82,000
Maturity date			Jun. 15, 2025
Prepaid interest									14,760
Note payable									113,160
1800 Diagonal Lending LLC One [Member] | Promissory Note [Member]
Convertible Loans [Line Items]
Issuance discount									$ 12,246
Remaining balance percentage			15%
Forecast [Member]
Convertible Loans [Line Items]
Repayment of debt		$ 113,160
Periodic payment	$ 14,145	$ 56,580

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	1 Months Ended	6 Months Ended
	Oct. 31, 2024	Oct. 31, 2024	Apr. 30, 2024
Related Party Transactions [Line Items]
Amount converted	$ 129,279
Converted demand loans into shares (in Shares)	3,231,975
Demand loan	$ 0	$ 0
Chief Executive Officer [Member]
Related Party Transactions [Line Items]
Amounts due to related parties	252,885	252,885	$ 182,885
Loans from related party	120	120
Related Party [Member]
Related Party Transactions [Line Items]
Amounts due to related parties	$ 144,616	$ 144,616	85,763
Loans from related party			$ 85,763
Common Stock [Member] | Chief Executive Officer [Member]
Related Party Transactions [Line Items]
Converted demand loans into shares (in Shares)		3,231,975
Common Stock [Member] | Related Party [Member]
Related Party Transactions [Line Items]
Amount converted		$ 129,279

Stockholders' Deficiency (Detai

Stockholders' Deficiency (Details)			1 Months Ended	3 Months Ended	6 Months Ended
	Jun. 10, 2024 USD ($) shares	May 09, 2024 shares	Oct. 31, 2024 USD ($) shares	Jul. 31, 2024 USD ($)	Oct. 31, 2024 USD ($) shares	Oct. 31, 2023 shares	Jun. 30, 2024 USD ($) shares	Apr. 30, 2024 USD ($) shares
Stockholders Deficiency [Line Items]
Common stock, shares authorized			1,850,000,000		1,850,000,000			1,850,000,000
Shares of common stock			99,112,508		99,112,508			6,921,350
Common stock, shares outstanding			99,112,508		99,112,508			6,921,350
Common stock based on an exchange ratio		300.47
Fair market value issued (in Dollars) | $			$ 991,126		$ 991,126			$ 69,214
Amount converted (in Dollars) | $			$ 129,279
Shares converted			3,231,975
Accrued dividends payable (in Dollars) | $			$ 527,064		527,064			185,757
Warrant liabilities (in Dollars) | $								$ 1,228,018
Fair value warrant (in Dollars) | $					$ 184,746
Volatility					100%
Risk-free rate					1.23%
Gain upon extinguishment of warrant liabilities (in Dollars) | $					$ 1,043,542
Pre-acquisition of stockholders’ deficits amount (in Dollars) | $				$ (833,612)	833,612
Adjustments to Additional Paid in Capital Reverse Acquisition (in Dollars) | $					$ 11,415,343
Minimum [Member]
Stockholders Deficiency [Line Items]
Expected life					2 years 7 months 6 days
Maximum [Member]
Stockholders Deficiency [Line Items]
Expected life					2 years 8 months 12 days
Verde [Member]
Stockholders Deficiency [Line Items]
Common stock based on an exchange ratio						0.15
GHS Investments LLC [Member]
Stockholders Deficiency [Line Items]
Gross proceeds of initial shares (in Dollars) | $	$ 250,000
FOMI [Member]
Stockholders Deficiency [Line Items]
Shares of common stock			6,921,350		6,921,350
Common Stock [Member]
Stockholders Deficiency [Line Items]
Common stock, shares authorized			1,850,000,000		1,850,000,000
Shares of common stock		6,921,350						56,349,183
Common stock, shares outstanding								56,349,183
Common stock, shares issued							4,500,000
Fair market value issued (in Dollars) | $							$ 306,000
Exchange ratio		0.15
Common Stock [Member] | Verde [Member]
Stockholders Deficiency [Line Items]
Common stock, shares outstanding		2,078,599,390
Conversion of shares						140,000,000
Common Stock [Member] | FOMI [Member]
Stockholders Deficiency [Line Items]
Common stock based on an exchange ratio		300.47
Common Stock [Member] | Merger Agreement [Member]
Stockholders Deficiency [Line Items]
Shares of common stock		28,110,000
Series C Preferred Stock [Member]
Stockholders Deficiency [Line Items]
Exchange ratio			0.15		0.15
Series C Preferred Stock [Member] | Verde [Member]
Stockholders Deficiency [Line Items]
Common stock based on an exchange ratio						300.47
Conversion of shares						42
Preferred stock, share outstanding		803
Class A Preferred Stock [Member]
Stockholders Deficiency [Line Items]
Preferred stock authorized			2,000		2,000
Class A Preferred Stock [Member]
Stockholders Deficiency [Line Items]
Preferred stock authorized			2,000		2,000			2,000
Preferred stock, shares issued			1,665		1,665			1,665
Preferred stock, share outstanding			1,665		1,665			1,665
Preferred stock votes					100,000
Class A Preferred Stock [Member] | FOMI [Member]
Stockholders Deficiency [Line Items]
Preferred stock, shares issued								5,000,000
Class A Preferred Stock [Member] | FOMI [Member]
Stockholders Deficiency [Line Items]
Preferred stock, shares issued		1,665
Series A Preferred Stock [Member]
Stockholders Deficiency [Line Items]
Exchange ratio			300		300
Series A Preferred Stock [Member] | Verde [Member]
Stockholders Deficiency [Line Items]
Preferred stock, share outstanding		500,000
Class B Preferred Stock [Member]
Stockholders Deficiency [Line Items]
Preferred stock authorized			10,000		10,000			10,000
Preferred stock, shares issued			5,704		5,704			5,704
Preferred stock, share outstanding			5,704		5,704			5,704
Preferred stock dividend percentage					10%
Number of shares sold	250
Class B Preferred Stock [Member] | GHS Investments LLC [Member]
Stockholders Deficiency [Line Items]
Preferred stock, shares issued	100
Class B Preferred Stock [Member] | FOMI [Member]
Stockholders Deficiency [Line Items]
Preferred stock, shares issued			5,354		5,354			5,000,000
Class B Preferred Stock [Member] | Merger Agreement [Member]
Stockholders Deficiency [Line Items]
Preferred stock, shares issued		5,354
Class B Preferred Stock [Member] | Purchase Agreement [Member]
Stockholders Deficiency [Line Items]
Purchase shares	250
Private Placement [Member] | Class B Preferred Stock [Member]
Stockholders Deficiency [Line Items]
Purchase amount (in Dollars) | $	$ 1,000
Gross proceeds of private placement (in Dollars) | $	$ 250,000

Stockholders' Deficiency - Sche

Stockholders' Deficiency - Schedule of Stock Purchase Warrants (Details) - $ / shares	12 Months Ended
	Apr. 30, 2024	Oct. 31, 2024
Schedule of Stock Purchase Warrants [Line Items]
Number of Warrants outstanding		416,157
Weighted average exercise price outstanding		$ 0.75
Number of Warrants Exercisable	416,157
Minimum [Member]
Schedule of Stock Purchase Warrants [Line Items]
Weighted Average Remaining Contractual Life (years) Exercisable	2 years 7 months 6 days
Maximum [Member]
Schedule of Stock Purchase Warrants [Line Items]
Weighted Average Remaining Contractual Life (years) Exercisable	2 years 8 months 12 days

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)				6 Months Ended
	Jan. 14, 2025	Jan. 10, 2025	Jun. 10, 2024	Oct. 31, 2024	Dec. 31, 2024	Dec. 05, 2024
Subsequent Events [Line Items]
Cash fee				8%
Services rendered				$ 50,000
Equity Financing Agreement with GHS Investments LLC [Member]
Subsequent Events [Line Items]
Common stock issuable under financing agreement, percentage				80%
Subsequent Event [Member]
Subsequent Events [Line Items]
Purchase price in cash for oil and gas property obliged to sale						$ 75,000
Class B Preferred Stock [Member]
Subsequent Events [Line Items]
Sale of stock shares (in Shares)			250
Equity Unit Purchase Agreements [Member] | Equity Financing Agreement with GHS Investments LLC [Member]
Subsequent Events [Line Items]
Aggregate number of common stock under credit agreement (in Shares)				1,000,000
Forecast [Member]
Subsequent Events [Line Items]
Weighted average price	75%
Purchase price	$ 5,000,000
Exercise price	$ 5,000,000
Forecast [Member] | Equity Financing Agreement with GHS Investments LLC [Member]
Subsequent Events [Line Items]
Common stock issuable pursuant to equity listing, percentage	90%
Forecast [Member] | Securities Purchase Agreement with GHS Investments LLC [Member]
Subsequent Events [Line Items]
Fee for financing arrangement, percentage on gross proceeds		2%
Financing arrangement, initial fee, amount		$ 1,800
Forecast [Member] | Securities Purchase Agreement with GHS Investments LLC [Member] | Common Stock [Member]
Subsequent Events [Line Items]
Additional shares issued as equity incentive (in Shares)		10
Forecast [Member] | Securities Purchase Agreement with Accredited Investor [Member] | Common Stock [Member]
Subsequent Events [Line Items]
Number of trading days consider for valuation of share price	5 days
Price per share of common stock considered for valuation of shares issuable (in Dollars per share)	$ 0.01
Purchase price of common stock issuable, value	$ 250,000
Number of traded days of common stock before purchase notice	5 days
Forecast [Member] | Securities Purchase Agreement with Accredited Investor [Member] | Common Stock [Member] | Maximum [Member]
Subsequent Events [Line Items]
Aggregate value of common stock under credit agreement	$ 1,000,000
Number of shares issuable under purchase notice (in Shares)	35,000,000
Forecast [Member] | Class B Preferred Stock [Member] | Securities Purchase Agreement with GHS Investments LLC [Member]
Subsequent Events [Line Items]
Shares sold (in Shares)		95
Shares sold, price per share (in Dollars per share)		$ 1,000
Gross proceeds from issuance of shares		$ 95,000
Forecast [Member] | Equity Unit Purchase Agreements [Member]
Subsequent Events [Line Items]
Weighted average price	90%
Forecast [Member] | Equity Unit Purchase Agreements [Member] | Equity Financing Agreement with GHS Investments LLC [Member]
Subsequent Events [Line Items]
Aggregate value of common stock under credit agreement					$ 10,000,000
Forecast [Member] | Series B Preferred Stock [Member]
Subsequent Events [Line Items]
Sale of stock shares (in Shares)	50