Red Cat (RCAT) 10-Q 17 Mar 22 2021 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Jan. 31, 2022	Mar. 15, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jan. 31, 2022
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--04-30
Entity File Number	000-31587
Entity Registrant Name	Red Cat Holdings, Inc.
Entity Central Index Key	0000748268
Entity Tax Identification Number	86-0490034
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	370 Harbour Drive
Entity Address, City or Town	Humacao
Entity Address, Country	PR
Entity Address, Postal Zip Code	00791
City Area Code	833
Local Phone Number	373-3228
Title of 12(b) Security	Common Stock
Trading Symbol	RCAT
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	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		53,671,559

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Jan. 31, 2022	Apr. 30, 2021
Current Assets
Cash	$ 7,111,527	$ 277,347
Marketable securities	48,446,302
Accounts receivable, net	891,505	321,693
Inventory	2,339,680	362,072
Other	2,234,583	678,898
Due from related party	225,539
Total Current Assets	61,249,136	1,640,010
Goodwill	26,029,750	8,017,333
Intangible assets, net	1,983,192	2,032,169
Property and equipment, net	262,859
Other	35,907	3,853
Operating lease right-of-use assets	823,838
Total Long Term Assets	29,135,546	10,053,355
TOTAL ASSETS	90,384,682	11,693,365
Current Liabilities
Accounts payable	521,139	541,903
Accrued expenses	1,493,691	614,050
Debt obligations - short term	1,127,596	269,045
Due to related party	41,622	390,209
Customer deposits	336,621	46,096
Operating lease liabilities	261,369
Warrant derivative liability	1,350,099	2,812,767
Total Current Liabilities	5,132,137	4,674,070
Operating lease liabilities	573,165
Debt obligations - long term	1,339,132
Note payable to related party		1,753,000
Total Long Term Liabilities	1,912,297	1,753,000
Stockholders' Equity
Series A Preferred Stock - shares authorized 2,200,000; outstanding 0 and 158,704		1,587
Series B Preferred Stock - shares authorized 4,300,000; outstanding 986,676 and 1,968,676	9,867	19,687
Common stock - shares authorized 500,000,000; outstanding 53,637,971 and 29,431,264	53,638	29,431
Additional paid-in capital	105,947,703	21,025,518
Accumulated deficit	(22,673,118)	(15,809,928)
Accumulated other comprehensive income	2,158
Total Stockholders' Equity	83,340,248	5,266,295
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 90,384,682	$ 11,693,365

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - shares	Jan. 31, 2022	Apr. 30, 2021
Common Stock, Shares Authorized	500,000,000	500,000,000
Common Stock, Shares, Outstanding	53,637,971	29,431,264
Series A Preferred Stock [Member]
Preferred Stock, Shares Authorized	2,200,000	2,200,000
Preferred Stock, Shares Outstanding	0	158,704
Series B Preferred Stock [Member]
Preferred Stock, Shares Authorized	4,300,000	4,300,000
Preferred Stock, Shares Outstanding	986,676	1,968,676

Consolidated Statements Of Oper

Consolidated Statements Of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2022	Jan. 31, 2021
Income Statement [Abstract]
Revenues	$ 1,856,751	$ 2,145,988	$ 5,116,741	$ 3,122,077
Cost of goods sold	1,516,970	1,576,265	4,521,974	2,351,153
Gross Margin	339,781	569,723	594,767	770,924
Operating Expenses
Operations	334,278	146,539	794,390	353,295
Research and development	811,288	167,968	1,548,983	341,892
Sales and marketing	238,624	48,719	524,642	97,534
General and administrative	1,337,183	499,155	3,264,071	929,874
Stock based compensation	782,123	854,195	2,066,146	1,068,317
Total operating expenses	3,503,496	1,716,576	8,198,232	2,790,912
Operating loss	(3,163,715)	(1,146,853)	(7,603,465)	(2,019,988)
Other Expense (Income)
Derivative expense		4,481,701		4,630,288
Change in fair value of derivative liability	(1,026,466)	3,350,135	(1,299,527)	3,433,938
Investment income, net	363,760		402,207
Interest expense	46,596		109,712
Other, net	17,212	5,571	47,333	5,571
Other Expense (Income)	(598,898)	7,837,407	(740,275)	8,069,797
Net loss	$ (2,564,817)	$ (8,984,260)	$ (6,863,190)	$ (10,089,785)
Loss per share - basic and diluted	$ (0.05)	$ (0.34)	$ (0.15)	$ (0.46)
Weighted average shares outstanding - basic and diluted	53,592,927	26,232,755	46,604,898	22,161,745

Condensed Consolidated Cash Flo

Condensed Consolidated Cash Flows Statements (Unaudited) - USD ($)	9 Months Ended
	Jan. 31, 2022	Jan. 31, 2021
Cash Flows from Operating Activities
Net loss	$ (6,863,190)	$ (10,089,785)
Stock based compensation	2,066,146	1,068,317
Common stock issued for services	250,400
Amortization of intangible assets	48,978	5,571
Depreciation	17,888
Change in fair value of derivative	(1,299,527)	3,433,938
Amortization of debt discount		79,187
Derivative expense		4,630,288
Changes in operating assets and liabilities, net of acquisitions
Accounts receivable	(470,765)	(63,255)
Inventory	(673,297)	(405,987)
Other	(3,492,145)	(118,613)
Operating lease right-of-use assets and liabilities	10,696
Customer deposits	227,532	32,967
Accounts payable	(1,673,545)	345,227
Accrued expenses	(190,444)	165,129
Net cash used in operating activities	(12,041,273)	(917,016)
Cash Flows from Investing Activities
Cash acquired through acquisitions	24,866
Payment for acquisition, net of cash acquired		(48,368)
Purchases of property and equipment	(92,581)
Proceeds from sale of marketable securities	6,250,322
Purchases of marketable securities	(54,696,624)
Net cash used in investing activities	(48,514,017)	(48,368)
Cash Flows from Financing Activities
Proceeds from exercise of warrants	99,999
Proceeds from related party obligations		79,000
Payments under related party obligations	(1,969,193)	(17,140)
Proceeds from debt obligations		424,419
Payments under debt obligations	(694,738)	(365,911)
Proceeds from convertible debentures		1,080,000
Payments of taxes related to restricted stock vesting	(113,959)
Proceeds from issuance of common stock, net	70,065,203
Net cash provided by financing activities	67,387,312	1,200,368
Effect of foreign exchange rate changes on cash	2,158
Net increase in Cash	6,834,180	234,984
Cash, beginning of period	277,347	236,668
Cash, end of period	7,111,527	471,652
Cash paid for interest	27,563
Cash paid for income taxes
Non-cash transactions
Fair value of shares issued in acquisitions	12,727,292	6,351,076
Taxes related to net shares settlement of equity awards	522,628
Conversion of derivative liability	163,141
Financed purchases of property and equipment	144,383
Indirect payment to related party	132,200
Conversion of preferred stock into common stock	11,407
Shares withheld as payment of note receivable	5,100
Issuance of Note Payable - Related Party in acquisition		1,753,000
Conversion of Notes into common stock		450,000
Conversion of accrued interest into common stock		$ 45,024

Consolidated Stockholders' Equi

Consolidated Stockholders' Equity Statements (Unaudited) - USD ($)	Series A Preferred Stock 1 [Member]	Series B Preferred Stock 1 [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Beginning balance, value at Apr. 30, 2020	$ 2,087	$ 36,816	$ 20,011	$ 4,043,837	$ (2,573,753)		$ 1,528,998
Shares, Outstanding, Beginning Balance at Apr. 30, 2020	208,704	3,681,623	20,011,091
Stock based compensation				107,061			107,061
Net loss					(383,244)		(383,244)
Ending balance, value at Jul. 31, 2020	$ 2,087	$ 36,816	$ 20,011	4,150,898	(2,956,997)		1,252,815
Shares, Outstanding, Ending Balance at Jul. 31, 2020	208,704	3,681,623	20,011,091
Beginning balance, value at Apr. 30, 2020	$ 2,087	$ 36,816	$ 20,011	4,043,837	(2,573,753)		1,528,998
Shares, Outstanding, Beginning Balance at Apr. 30, 2020	208,704	3,681,623	20,011,091
Net loss							(10,089,785)
Ending balance, value at Jan. 31, 2021	$ 1,587	$ 27,269	$ 27,161	11,961,152	(12,663,538)		(646,369)
Shares, Outstanding, Ending Balance at Jan. 31, 2021	158,704	2,726,882	27,160,926
Beginning balance, value at Jul. 31, 2020	$ 2,087	$ 36,816	$ 20,011	4,150,898	(2,956,997)		1,252,815
Shares, Outstanding, Beginning Balance at Jul. 31, 2020	208,704	3,681,623	20,011,091
Stock based compensation				107,061			107,061
Net loss					(722,281)		(722,281)
Conversion of debt			$ 711	494,314			495,025
[custom:StockIssuedDuringPeriodSharesConversionOfDebt]			710,444
Ending balance, value at Oct. 31, 2020	$ 2,087	$ 36,816	$ 20,722	4,752,273	(3,679,278)		1,132,620
Shares, Outstanding, Ending Balance at Oct. 31, 2020	208,704	3,681,623	20,721,535
Stock based compensation				854,195			854,195
Net loss					(8,984,260)		(8,984,260)
Acquisition of Fat Shark			$ 5,227	6,345,849			6,351,076
[custom:StockIssuedDuringPeriodSharesAcquisitions1]			5,227,273
Conversion of preferred stock	$ (500)	$ (9,547)	$ 1,212	8,835
Stock Issued During Period, Shares, Conversion of Convertible Securities	(50,000)	(954,741)	(1,212,118)
Stock Issued During Period, Shares, Conversion of Convertible Securities	50,000	954,741	1,212,118
Ending balance, value at Jan. 31, 2021	$ 1,587	$ 27,269	$ 27,161	11,961,152	(12,663,538)		(646,369)
Shares, Outstanding, Ending Balance at Jan. 31, 2021	158,704	2,726,882	27,160,926
Beginning balance, value at Apr. 30, 2021	$ 1,587	$ 19,687	$ 29,431	21,025,518	(15,809,928)		5,266,295
Shares, Outstanding, Beginning Balance at Apr. 30, 2021	158,704	1,968,676	29,431,264
Stock based compensation			$ 63	384,023			384,086
Net loss					(1,557,772)		(1,557,772)
Conversion of preferred stock		$ (9,820)	$ 818	9,002
Stock Issued During Period, Shares, Conversion of Convertible Securities		(982,000)	(818,333)
Stock Issued During Period, Shares, Conversion of Convertible Securities		982,000	818,333
Acquisition of Skypersonic			$ 685	2,630,955			2,631,640
Stock Issued During Period, Shares, Acquisitions			685,321
Public offerings, net of $5,959,800 of issuance costs			$ 17,333	70,022,871			70,040,204
Stock Issued During Period, Shares, New Issues			17,333,334
Exercise of warrants			$ 67	263,073			263,140
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercised			66,666
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture			62,500
Shares issued for services			$ 92	191,908			192,000
Stock Issued During Period, Shares, Issued for Services			91,667
Currency translation adjustments						922	922
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture			(62,500)
Ending balance, value at Jul. 31, 2021	$ 1,587	$ 9,867	$ 48,489	94,527,350	(17,367,700)	922	77,220,515
Shares, Outstanding, Ending Balance at Jul. 31, 2021	158,704	986,676	48,489,085
Beginning balance, value at Apr. 30, 2021	$ 1,587	$ 19,687	$ 29,431	21,025,518	(15,809,928)		5,266,295
Shares, Outstanding, Beginning Balance at Apr. 30, 2021	158,704	1,968,676	29,431,264
Net loss							(6,863,190)
Ending balance, value at Jan. 31, 2022		$ 9,867	$ 53,638	105,947,703	(22,673,118)	2,158	83,340,248
Shares, Outstanding, Ending Balance at Jan. 31, 2022		986,676	53,637,971
Beginning balance, value at Jul. 31, 2021	$ 1,587	$ 9,867	$ 48,489	94,527,350	(17,367,700)	922	77,220,515
Shares, Outstanding, Beginning Balance at Jul. 31, 2021	158,704	986,676	48,489,085
Stock based compensation			$ 244	899,693			899,937
Net loss					(2,740,601)		(2,740,601)
[custom:StockIssuedDuringPeriodSharesAcquisitions1]			3,588,272
Conversion of preferred stock	$ (1,587)		$ 1,322	265
Stock Issued During Period, Shares, Conversion of Convertible Securities	(158,704)		(1,321,966)
Stock Issued During Period, Shares, Conversion of Convertible Securities	158,704		1,321,966
Acquisition of Skypersonic			$ 22	84,350			84,372
Stock Issued During Period, Shares, Acquisitions			21,972
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture			243,615
Shares issued for services			$ 20	58,380			58,400
Stock Issued During Period, Shares, Issued for Services			20,000
Currency translation adjustments						669	669
Acquisition of Teal Drones			$ 3,588	10,007,691			10,011,279
[custom:StockIssuedDuringPeriodSharesAcquisitions2]			3,588,272
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture			(243,615)
Ending balance, value at Oct. 31, 2021		$ 9,867	$ 53,685	105,577,729	(20,108,301)	1,591	85,534,571
Shares, Outstanding, Ending Balance at Oct. 31, 2021		986,676	53,684,910
Stock based compensation			$ (47)	369,974			369,927
Net loss					(2,564,817)		(2,564,817)
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture			46,939
Currency translation adjustments						567	567
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture			(46,939)
Ending balance, value at Jan. 31, 2022		$ 9,867	$ 53,638	$ 105,947,703	$ (22,673,118)	$ 2,158	$ 83,340,248
Shares, Outstanding, Ending Balance at Jan. 31, 2022		986,676	53,637,971

Consolidated Stockholders' Eq_2

Consolidated Stockholders' Equity Statements (Unaudited) (Parenthetical)	3 Months Ended
	Jul. 31, 2021USD ($)
Statement of Stockholders' Equity [Abstract]
Payments of Stock Issuance Costs	$ 5,959,800

Note 1 - The Business

Note 1 - The Business	9 Months Ended
	Jan. 31, 2022
Accounting Policies [Abstract]
Note 1 - The Business	Note 1 - The Business Red Cat Holdings ("Red Cat" or the "Company") was originally incorporated in February 1984. Since April 2016, the Company's primary business has been to provide products, services and solutions to the drone industry which it presently does through its four wholly owned subsidiaries. Teal Drones is a leader in commercial and government Unmanned Aerial Vehicles (UAV) technology. Fat Shark Holdings is a provider of First Person View (FPV) video goggles. Rotor Riot sells FPV drones and equipment, primarily to the consumer marketplace. Skypersonic provides software and hardware solutions that enable drones to complete inspection services in locations where GPS (global positioning systems) are not available, yet still record and transmit data even while being operated from thousands of miles away. Corporate developments since January 1, 2020 include: A. Rotor Riot Acquisition In January 2020, the Company consummated a Merger Agreement under which Rotor Riot Acquisition Corp, a wholly owned subsidiary of the Company, merged with and into Rotor Riot, with Rotor Riot continuing as the surviving entity and a wholly owned subsidiary of the Company. Under the Merger Agreement, each member of Rotor Riot received its pro rata portion of the total number of shares of the Company's common stock issued based on (A)(i) $3,700,000 minus (ii) $915,563 (which included certain debt and other obligations of Rotor Riot and its Chief Executive Officer that the Company agreed to assume (the "Assumed Obligations") divided by (B) the volume weighted average price ("VWAP") of the Company's common stock for the twenty trading days prior to the closing of the Merger. Based on a share issuance value of $ 2,784,437 and a VWAP of $ 1.25445 , the Company issued an aggregate of 2,219,650 shares of common stock to the members of Rotor Riot. Following the closing, the Company's management controlled the operating decisions of the combined company. Accordingly, we accounted for the transaction as an acquisition of Rotor Riot by the Company. Based on purchase price accounting, we recognized the assets and liabilities of Rotor Riot at fair value with the excess of the purchase price over the net assets acquired recognized as goodwill. The table below reflects the acquisition date values of the purchase consideration, assets acquired, and liabilities assumed. The shares issued were valued at $ 1,820,114 ( 2,219,650 shares issued times $ 0.82 per share which equaled the closing price of the Company's common stock on the date that the merger agreement was consummated). A summary of the purchase price and its related allocation is as follows: Shares issued $ 1,820,114 Promissory note issued 175,000 Total Purchase Price $ 1,995,114 Assets acquired Cash 21,623 Accounts receivable 28,500 Other assets 3,853 Inventory 127,411 Trademark 20,000 Brand name 578,000 Customer relationships 39,000 Total assets acquired 818,387 Liabilities assumed Accounts payable and accrued expenses 171,651 Notes payable 209,799 Due to related party 197,846 Total liabilities assumed 579,296 Total fair value of net assets acquired 239,091 Goodwill $ 1,756,023 The final purchase price allocation was determined by an independent valuation services firm. Customer Relationships with a value of $ 39,000 B. Fat Shark Acquisition In November 2020, the Company closed a share purchase agreement ("Share Purchase Agreement") with the sole shareholder of Fat Shark Holdings ("Fat Shark"), to acquire all of the issued and outstanding shares of Fat Shark and its subsidiaries. The transaction was valued at $ 8,354,076 5,227,273 6,351,076 1,753,000 250,000 Shares issued $ 6,351,076 Promissory note issued 1,753,000 Cash 250,000 Total Purchase Price $ 8,354,076 Assets acquired Cash 201,632 Accounts receivable 249,159 Other assets 384,232 Inventory 223,380 Brand name 1,144,000 Proprietary technology 272,000 Non-compete agreement 16,000 Total assets acquired 2,490,403 Liabilities assumed Accounts payable and accrued expenses 279,393 Customer deposits 25,194 Total liabilities assumed 304,587 Total fair value of net assets acquired 2,185,816 Goodwill $ 6,168,260 The final purchase price allocation was determined by an independent valuation services firm. Intangible assets included proprietary technology and non-compete agreement which are being amortized over 5 and 3 years, respectively. The carrying value of Brand Name is not being amortized but will be reviewed quarterly and formally evaluated at the end of each fiscal year. C. Skypersonic Acquisition In February 2021, the Company entered into Share Purchase and Liquidity Event Agreements (the "Skypersonic Agreements") with the founder and majority shareholder of Skypersonic, Inc., ("Skypersonic") and the holders of common stock and equity based agreements representing 97.46% of Skypersonic (the "Sellers"), pursuant to which, subject to the satisfaction of certain closing conditions, the Company would acquire all of the issued and outstanding share capital of Skypersonic for an aggregate of $ 3,000,000 75,000 857,124 3,291,356 300,000 601,622 149,829 Shares issued $ 2,716,013 Cash 75,000 Total Purchase Price $ 2,791,013 Assets acquired Cash 13,502 Accounts receivable 51,083 Other assets 12,950 Inventory 50,556 Total assets acquired 128,091 Liabilities assumed Accounts payable and accrued expenses 1,054,997 Total liabilities assumed 1,054,997 Total fair value of net assets acquired (926,906 ) Goodwill $ 3,717,919 The foregoing amounts reflect our current estimates of fair value as of the May 7, 2021 acquisition date. The Company has engaged an independent valuation services firm to complete a formal evaluation of the acquisition. The Company expects to recognize fair values associated with the customer relationships acquired, as well as the Skypersonic brand name. When the valuation project is completed, the Company may make adjustments to the opening balance sheet. The determination of the fair values of the acquired assets and liabilities assumed (and the related determination of estimated lives of depreciable tangible and intangible assets) requires significant judgment. D. Teal Drones Acquisition On August 31, 2021, the Company closed the acquisition of Teal Drones Inc., (“Teal”) pursuant to an Agreement and Plan of Merger by and among, the Company Teal Acquisition I Corp., (“Acquisition”) and wholly-owned subsidiary of the Company, and Teal, (the “Merger Agreement” or “Merger”). Pursuant to the Merger Agreement, we acquired all of the issued and outstanding share capital of Teal in exchange for $14,000,000 of our common stock (“Common Stock”) at the Volume Weighted Average Price (VWAP) of our Common Stock for the 20 trading days ended August 31, 2021 of $2.908 per share, reduced by the amount of Teal debt assumed consisting of approximately $1.67 million payable to DA4, and approximately $1,457,000 in working capital deficit, for a net closing date payment of $10,872,753. At closing, we issued 3,738,911 shares of Common Stock (the “Stock Consideration”) with a fair market value of $10,431,562. Fifteen (15%) of the Share Consideration (the “Escrow Shares”) was deposited in an escrow account for a period of eighteen (18) months as security for indemnification obligations, any purchase price adjustments due to working capital deficiencies and any other claims or expenses. In December 2021, the Company and Teal agreed to a reduction in the purchase price of $438,058 which resulted in the cancellation of 150,639 shares held in escrow. The fair market value of the cancelled shares was $420,283. The Stock Consideration may be increased if Teal attains certain revenue levels in the twenty four (24) month period following the closing. The additional consideration begins at $4 million if sales total at least $18 million and ends at $16 million if sales total $36 million. A revised summary of the purchase price and its related allocation is set forth below. Total Purchase Price - shares issued $ 10,011,279 Assets acquired Cash 11,364 Accounts receivable 47,964 Other current assets 15,085 Other assets 48,595 Inventory 1,253,755 Total assets acquired 1,376,763 Liabilities assumed Accounts payable and accrued expenses 1,143,899 Customer deposits 1,766,993 Notes payable 2,749,091 Total liabilities assumed 5,659,983 Total fair value of net assets acquired (4,283,220 ) Goodwill $ 14,294,499 The foregoing amounts reflect our current estimates of fair value as of the August 31, 2021 acquisition date. The Company has engaged an independent valuation services firm to complete a formal evaluation of the acquisition. The Company expects to recognize fair values associated with the customer relationships acquired, as well as the Teal brand name but has not yet accumulated sufficient information to assign such values. When the valuation project is completed, the Company may make adjustments to the opening balance. The determination of the fair values of the acquired assets and liabilities assumed (and the related determination of estimated lives of depreciable tangible and intangible assets) requires significant judgment. On August 31, 2021, Teal entered into an Amended and Restated Loan and Security Agreement with Decathlon Alpha IV, L.P. (“DA4”) (the “Loan Agreement”) in the amount of $1,670,294 (the “Loan”), representing the outstanding principal amount previously due and owing by Teal to DA4. Interest on the Loan accrues at a rate of ten (10%) percent per annum. Principal and interest under the term Loan is payable monthly in an amount equal to $49,275 until maturity on December 31, 2024. The Company assumed the Loan Agreement in connection with the acquisition.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	9 Months Ended
	Jan. 31, 2022
Accounting Policies [Abstract]
Note 2 - Summary of Significant Accounting Policies	Note 2 - Summary of Significant Accounting Policies Basis of Accounting Principles of Consolidation Use of Estimates Cash and Cash Equivalents 7,111,527 Marketable Securities We have elected to present accrued interest receivable separately from marketable securities on our consolidated balance sheets. Accrued interest receivable was $ 393,543 Accounts Receivable, net Inventories Goodwill We perform an impairment test at the end of each fiscal year, or more frequently if indications of impairment arise. We have a single reporting unit, and consequently, evaluate goodwill for impairment based on an evaluation of the fair value of the Company as a whole. Leases The Company determines if a contract is a lease or contains a lease at inception. Operating lease liabilities are measured, on each reporting date, based on the present value of the future minimum lease payments over the remaining lease term. The Company's leases do not provide an implicit rate. Therefore, the Company uses an effective discount rate of 12% based on its recent debt financings. Operating lease assets are measured by adjusting the lease liability for lease incentives, initial direct costs incurred and asset impairments. Lease expense for minimum lease payments is recognized on a straight line basis over the lease term with the operating lease asset reduced by the amount of the expense. Lease terms may include options to extend or terminate a lease when they are reasonably certain to occur. Fair Values, Inputs and Valuation Techniques for Financial Assets and Liabilities and Related Disclosures The fair value measurements and disclosure guidance defines fair value and establishes a framework for measuring fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In accordance with this guidance, the Company has categorized its recurring basis financial assets and liabilities into a three-level fair value hierarchy based on the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. We disclose and recognize the fair value of our assets and liabilities using a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. The guidance establishes three levels of the fair value hierarchy as follows: Level 1 Level 2 Level 3 Disclosures for Non-Financial Assets Measured at Fair Value on a Non-Recurring Basis The Company's financial instruments mainly consist of cash, receivables, current assets, accounts payable and accrued expenses and debt. The carrying amounts of its cash, receivables, current assets, accounts payable, accrued expenses and current debt approximates fair value due to the short-term nature of these instruments. Convertible Securities and Derivatives When the Company issues convertible debt or equity instruments that contain embedded derivative instruments that are to be bifurcated and accounted for as liabilities, the total proceeds from the convertible host instruments are first allocated to the bifurcated derivative instruments. The remaining proceeds, if any, are then allocated to the convertible instruments themselves, resulting in those instruments being recorded at a discount from their face value but no lower than zero. Any excess amount is recognized as a derivative expense. Derivative Liabilities The Company has financial instruments that are considered derivatives or contain embedded features subject to derivative accounting. Embedded derivatives are valued separately from the host instrument and are recognized as derivative liabilities in the Company's balance sheet. The Company measures these instruments at their estimated fair value and recognizes changes in their estimated fair value in results of operations during the period of change. In October 2020 and January 2021, the Company entered into convertible note agreements which included provisions under which the conversion price was equal to the lesser of an initial stated amount or the conversion price of a future offering. This variable conversion feature was recognized as a derivative. Both financings included the issuance of warrants which contained similar variable conversion features. The Company values these convertible notes and warrants using the multinomial lattice method that values the derivative liability within the notes based on a probability weighted discounted cash flow model. The resulting liability is valued at each reporting date and the change in the liability is reflected as change in derivative liability in the statement of operations. Revenue Recognition 336,621 46,096 Research and Development Income Taxes Recent Accounting Pronouncements Foreign Currency Comprehensive Loss 567 2,158 Stock-Based Compensation Basic and Diluted Net Loss per Share Related Parties

Note 3 _ Marketable Securities

Note 3 – Marketable Securities	9 Months Ended
	Jan. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Note 3 – Marketable Securities	Note 3 – Marketable Securities The following tables set forth information related to our marketable securities as of January 31, 2022: I. Amortized cost, net unrealized gains or losses, and fair values Amortized Cost Net Unrealized Gains (Losses) Fair Value Money market funds $ 1,598,428 $ 1,108 $ 1,599,536 Asset-backed securities 3,113,823 (21,984 ) 3,091,839 Corporate bonds 44,387,966 (633,039 ) 43,754,927 Total $ 49,100,217 $ (653,915 ) $ 48,446,302 II. Contractual Maturities One Year or Less One to Over Five Years Total Money market funds $ 1,599,536 $ — $ — $ 1,599,536 Asset-backed securities — 3,091,839 — 3,091,839 Corporate bonds 19,808,158 23,366,723 580,046 43,754,927 Total $ 21,407,694 $ 26,458,562 $ 580,046 $ 48,446,302 III. Fair Value Hierarchy Level 1 Level 2 Level 3 Total Money market funds $ 1,599,536 $ — $ — $ 1,599,536 Asset-backed securities — 3,091,839 — 3,091,839 Corporate bonds — 43,754,927 — 43,754,927 Total $ 1,599,536 $ 46,846,766 $ — $ 48,446,302

Note 4 _ Inventories

Note 4 – Inventories	9 Months Ended
	Jan. 31, 2022
Inventory Disclosure [Abstract]
Note 4 – Inventories	Note 4 – Inventories Inventories consisted of the following: January 2022 April 2021 Raw materials $ 1,370,380 $ — Work-in-process 39,153 — Finished goods 930,147 362,072 Total $ 2,339,680 $ 362,072 Inventory purchase commitments totaled $ 14,539,895

Note 5 - Other Current Assets

Note 5 - Other Current Assets	9 Months Ended
	Jan. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Note 5 - Other Current Assets	Note 5 - Other Current Assets Other current assets included: January 2022 April 2021 Prepaid inventory $ 1,539,479 $ 478,939 Accrued interest income 393,549 — Prepaid insurance 140,182 — Prepaid expenses 152,001 115,587 Security deposits 9,372 9,372 Due from related party — 75,000 Total $ 2,234,583 $ 678,898

Note 6 _ Due From Related Party

Note 6 – Due From Related Party	9 Months Ended
	Jan. 31, 2022
Note 6 Due From Related Party
Note 6 – Due From Related Party	Note 6 – Due From Related Party In January 2022, the Company determined that an employee had relocated in 2021 but their compensation had not been subject to the required tax withholding by the new jurisdiction. The amount subject to taxation included $155,624 of cash compensation and $1,413,332 of income associated with the vesting of restricted stock ("Stock Compensation"). In March 2022, the Company entered into a note agreement (the "Note") with the employee in the amount of $510,323, representing the estimated taxes owed by the employee related to the Stock Compensation. Under the terms of the Note, 104,166 shares of common stock with a fair value of $280,832, which had vested during calendar 2021, were withheld by the Company and applied against the Note. The employee has agreed not to sell or transfer 110,983 shares of common stock held at the Company's transfer agent until the Note is repaid. In addition, the employee is scheduled to have 20,833 shares of restricted stock vest monthly in calendar 2022, of which 3,000 shares will be withheld with the fair value of those shares applied against the Note. Any shares issued to the employee in 2022 will be held at the transfer agent until the Note is repaid in full. The Note matures on December 31, 2022 and will be repaid by the employee assigning that number of shares, held at the transfer agent, with a fair value required to repay the Note in full. The Company accrued payroll taxes of $596,120 at January 31, 2022 representing $510,323 owed by the employee, $31,604 owed by the Company, and $54,193 of estimated penalties and interest. The note balance totaled $225,539 at January 31, 2022. The shares held at the transfer agent had a fair value of $206,684 at January 31, 2022. The Company filed amended payroll tax returns, which included a payment of $544,057, on March 16, 2022.

Note 7 _ Property and Equipment

Note 7 – Property and Equipment	9 Months Ended
	Jan. 31, 2022
Property, Plant and Equipment [Abstract]
Note 7 – Property and Equipment	Note 7 – Property and Equipment Property and equipment consist of assets with an estimated useful life greater than one year. Property and equipment are reported net of accumulated depreciation, and the reported values are periodically assessed for impairment. Property and equipment as of January 31, 2022 was as follows: Original cost $ 423,588 Accumulated depreciation 160,729 Net carrying value $ 262,859

Note 8 _ Operating Leases

Note 8 – Operating Leases	9 Months Ended
	Jan. 31, 2022
Leases [Abstract]
Note 8 – Operating Leases	Note 8 – Operating Leases The Company has the following operating leases for real estate locations where it operates: Location Monthly Rent Expiration South Salt Lake, Utah $ 22,000 December 2024 Orlando, Florida $ 4,600 May 2024 Cayman Islands $ 3,438 Month to Month Troy, Michigan $ 2,667 May 2022 Orlando, Florida $ 1,690 September 2022 These lease agreements have remaining terms up to 2.92 years, excluding options to extend certain leases for up to 5 years. The weighted average remaining lease term as of January 31, 2022 was 2.86 years. The Company used a discount rate of 12% to calculate its lease liability at January 31, 2022. Future lease payment obligations at January 31, 2022 were as follows: Fiscal Year Ended: 2022 $ 98,896 2023 336,257 2024 332,356 2025 230,653 Total $ 998,162

Note 9 _ Debt Obligations

Note 9 – Debt Obligations	9 Months Ended
	Jan. 31, 2022
Debt Disclosure [Abstract]
Note 9 – Debt Obligations	Note 9 – Debt Obligations A. Decathlon Capital In connection with the acquisition of Teal, Decathlon Capital agreed to restructure the terms of an existing loan agreement with Teal. Effective August 31, 2021, the principal amount outstanding of $ 1,670,294 10 49,275 1,483,383 B. Convertible Note In May 2021, Teal entered into a convertible note agreement totaling $ 350,000 0.13 C. Vendor Settlement In May 2020, Teal entered into a settlement agreement with a vendor that had been providing contract manufacturing services. At August 31, 2021, the Company assumed the outstanding balance of $ 387,500 37,500 12,500 200,000 D. SBA Loan On February 11, 2021, Teal received a Small Business Administration Paycheck Protection Program (“SBA PPP”) loan in the amount of $ 300,910 300,910 3,001 E. Shopify Capital Shopify Capital is an affiliate of Shopify, Inc. which provides sales software and services to the Company. The Company processes customer transactions ordered on the e-commerce site for Rotor Riot through Shopify. Shopify Capital has entered into multiple agreements with the Company in which it has "purchased receivables" at a discount. Shopify retains a portion of the Company's daily receipts until the purchased receivables have been paid. The Company recognizes the discount as a transaction fee, in full, in the month in which the agreement is executed. The Company assumed an existing agreement when it acquired Rotor Riot in January 2020. This agreement was repaid in May 2020. Since then, the Company has entered into the following agreements with Shopify: Date of Transaction Purchased Receivables Payment to Company Transaction Fees Withholding Rate Fully Repaid In May 2020 $158,200 $140,000 $18,200 17 October 2020 September 2020 $209,050 $185,000 $24,050 17 May 2021 April 2021 $236,500 $215,000 $21,500 17 January 2022 F. Corporate Equity In October 2021, Teal entered into an agreement with Corporate Equity to fund $ 60,000 60,000 8.25 3,595 111,180 G. Revenue Financing Arrangement In April 2021, Teal entered into an agreement under which it sold future customer payments, at a discount, to Forward Financing. At August 31, 2021, the Company assumed the outstanding balance of $ 38,758 H. Ascentium Capital In September 2021, Teal entered into a financing agreement with Ascentium Capital to fund the purchase of a fixed asset totaling $ 24,383 656 21,255 I. PayPal PayPal is an electronic commerce company that facilitates payments between parties through online funds transfers. The Company processes certain customer payments ordered on its e-commerce site through PayPal. The Company has entered into multiple agreements under which PayPal provides an advance on customer payments, and then retains a portion of customer payments until the advance is repaid. PayPal charges a fee which the Company recognizes in full upon entering an agreement. A November 2019 agreement under which PayPal advanced $ 100,000 and charged a transaction fee of $ 6,900 was completed in January 2021. A January 2021 agreement under which PayPal advanced $ 75,444 and charged a transaction fee of $ 2,444 was completed in August 2021. J. Summary Outstanding principal payments are due as follows: Balance of fiscal year 2022 $ 600,683 2023 680,308 2024 646,287 2025 476,462 2026 62,988 Total $ 2,466,728 Short term – through January 31, 2023 $ 1,127,596 Long term – thereafter $ 1,339,132

Note 10 - Due to Related Party

Note 10 - Due to Related Party	9 Months Ended
	Jan. 31, 2022
Note 10 - Due To Related Party
Note 10 - Due to Related Party	Note 10 - Due to Related Party A. Founder of Fat Shark In connection with the acquisition of Fat Shark in November 2020, the Company issued a secured promissory note in the amount of $ 1,753,000 3 132,200 1,620,800 45,129 B. BRIT, LLC In January 2020, in connection with the acquisition of Rotor Riot, the Company issued a promissory note in the amount of $ 175,000 4.75 85,172 12,942 The Company also assumed a line of credit obligation totaling $ 47,853 6.42 41,622 47,922 C. Aerocarve In 2020, the Company received advances totaling $ 79,000 5 74,000

Note 11 - Convertible Notes

Note 11 - Convertible Notes	9 Months Ended
	Jan. 31, 2022
Note 11 - Convertible Notes
Note 11 - Convertible Notes	Note 11 - Convertible Notes In November 2019, the Company issued a convertible note in the principal amount of $ 300,000 to one accredited investor and in December 2019, the Company issued a convertible note in the principal amount of $ 125,000 to a director and a convertible note in the principal amount of $ 25,000 to our chief executive officer (collectively, the "2019 Notes"). The Notes had a term of 2 years and accrued interest at an annual rate of 12 % through the date of conversion. In September and October 2020, the entire $ 450,000 of 2019 Notes, plus accrued interest totaling $ 45,204 , was converted into 710,444 shares of common stock. October 2020 Financing In October 2020, the Company closed a private offering of convertible promissory notes (the "2020 Notes") in the aggregate principal amount of $ 600,000 . The 2020 Notes accrued interest at 12 % annually, had a two year term, and were convertible into common stock at the lower of $1.00 or a 25% discount of the price per share of Common Stock offered in a future, qualified offering. The financing also included the issuance of warrants to purchase 399,998 shares of common stock. The Warrants are exercisable for a period of five years at a price equal to the lower of (1) $1.50 per share, or (2) at a price equal to 75% of the price per share of the common stock offered in a future, qualified offering. The Company determined that the provision associated with a potential reduction in the conversion price of the notes and the exercise price of the warrant represented an embedded derivative financial liability. The derivative liability was initially valued at $ 728,587 580,000 20,000 460,588 267,999 As of January 31, 2022, (a) the 2020 Notes were fully converted into common stock and the related derivative liability eliminated, and (b) 266,666 445,709 January 2021 Financing In January 2021, the Company closed a private offering of convertible promissory notes (the "2021 Notes") in the aggregate principal amount of $ 500,000 12 two year 675,000 The Company determined that the provision associated with a potential reduction in the conversion price of the notes and the exercise price of the warrant represented an embedded derivative financial liability. The derivative liability was initially valued at $ 4,981,701 500,000 2,111,035 2,870,666 As of January 31, 2022, (a) the 2021 Notes were fully converted into common stock and the related derivative liability eliminated, and (b) 540,000 904,390

Note 12 - Income Taxes

Note 12 - Income Taxes	9 Months Ended
	Jan. 31, 2022
Income Tax Disclosure [Abstract]
Note 12 - Income Taxes	Note 12 - Income Taxes Our operating subsidiary, Red Cat Propware, Inc., is incorporated and based in Puerto Rico which is a commonwealth of the United States. We are not subject to taxation by the United States as Puerto Rico has its own taxing authority which passed the Export Services Act, also known as Act 20, in 2012. Under Act 20, eligible businesses are subject to a special corporate tax rate of 4%. Since inception, we have incurred net losses in each year of operations. Our current provision for the reporting periods presented in these financial statements consisted of a tax benefit against which we applied a full valuation allowance, resulting in no current provision for income taxes. In addition, there was no deferred provision for any of these reporting periods. At January 31, 2022 and April 30, 2021, we had accumulated deficits of approximately $ 22,700,000 15,800,000 908,000 632,000

Note 13 - Common Stock

Note 13 - Common Stock	9 Months Ended
	Jan. 31, 2022
Equity [Abstract]
Note 13 - Common Stock	Note 13 - Common Stock Our common stock has a par value of $ 0.001 500,000,000 On May 4, 2021, the Company closed an offering of 4 million shares of common stock which generated gross proceeds of $ 16 million and net proceeds of approximately $ 14.6 million. On May 4, 2021, the Company issued 50,000 On May 7, 2021, the Company issued 685,321 On July 21, 2021, the Company closed an offering of 13,333,334 60 55.5 During the three months ended July 31, 2021, 62,500 On August 10, 2021, the Company issued 1,321,966 158,704 On August 15, 2021, the Company issued 20,000 On August 31, 2021, the Company issued 3,588,272 During the three months ended October 31, 2021, the Company issued 21,972 During the three months ended October 31, 2021, shares of common stock issued under the terms of restricted stock agreements with officers totaled 162,500 During the three months ended October 31, 2021, shares of common stock issued due to the exercise of stock options totaled 81,115 During the three months ended January 31, 2022, shares of common stock issued under restricted stock agreements totaled 45,044 62,500 29,483

Note 14 - Preferred Stock

Note 14 - Preferred Stock	9 Months Ended
	Jan. 31, 2022
Equity [Abstract]
Note 14 - Preferred Stock	Note 14 - Preferred Stock Series A Preferred Stock outstanding totaled 158,704 1,321,966 Series B Preferred Stock ("Series B Stock") is convertible into common stock at a ratio of 0.8334 shares of common stock for each share of Series B Stock held and votes together with the common stock on an as-if-converted basis. Shares outstanding at January 31, 2022 totaled 986,676 822,230

Note 15 - Warrants

Note 15 - Warrants	9 Months Ended
	Jan. 31, 2022
Note 15 - Warrants
Note 15 - Warrants	Note 15 - Warrants In October 2020, the Company issued five-year warrants to purchase a total of 399,998 shares in connection with the issuance of $ 600,000 of convertible notes. The warrants have an initial exercise price of $ 1.50 which may be reduced to a 25% discount of the price per share of Common Stock offered in a future qualified offering. The warrants were valued at $ 267,999 In January 2021, the Company issued five-year warrants to purchase a total of 675,000 shares in connection with the issuance of $ 500,000 of convertible notes. 1.50 2,870,666 In March and April 2021, we received $ 201,249 in connection with the exercise of 201,666 warrants which had been issued in October 2020 and January 2021 as part of the convertible note financings described in note 10. Since these exercises resulted in the elimination of the derivative liability in the warrants, the derivative liability was reduced by $ 694,305 with a corresponding increase in additional paid in capital. In May 2021, the Company issued warrants to purchase 200,000 5.00. In June 2021, we received $ 99,999 66,666 163,141 In July 2021, the Company issued warrants to purchase 533,333 shares of common stock to the placement agent of its common stock offering. The warrants have a five year term and an exercise price of $ 5.625 . The following table summarizes the changes in warrants outstanding since April 30, 2020. Number of Shares Weighted-average Exercise Price per Share Weighted-average Remaining Contractual Term (in years) Aggregate Intrinsic Value Balance as of April 30, 2020 — — — — Granted 1,074,998 $ 1.50 Exercised (201,666 ) 1.50 Outstanding as of April 30, 2021 873,332 1.50 4.62 $ 2,218,263 Granted 733,333 5.45 Exercised (66,666 ) 1.50 Outstanding at January 31, 2022 1,539,999 $ 3.38 4.13 $ 1,371,332

Note 16 - Share Based Awards

Note 16 - Share Based Awards	9 Months Ended
	Jan. 31, 2022
Share-based Payment Arrangement [Abstract]
Note 16 - Share Based Awards	Note 16 - Share Based Awards The 2019 Equity Incentive Plan (the "Plan") allows us to incentivize key employees, consultants, and directors with long term compensation awards such as stock options, restricted stock, and restricted stock units (collectively, the "Awards"). The number of shares issuable in connection with Awards under the Plan may not exceed 8,750,000 The aggregate intrinsic value of outstanding options represents the excess of the stock price at January 31, 2022 of $1.70 over the exercise price of each option. As of January 31, 2022 and April 30, 2021, there was $ 3,762,636 914,915 The table below sets forth the assumptions used to calculate the fair value of options granted during the three months ended January 31, 2022: Exercise price 1.69 2.52 Stock price on date of grant 1.69 2.33 Volatility 268.51 270.18 Risk-free interest rate 1.50 1.74 Expected term (years) 8.25 8.25 Dividend yield — A summary of activity under the Plan since April 30, 2020 is as follows: Options Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding as of April 30, 2020 1,597,475 $ 1.10 Granted 600,000 3.63 Exercised — — Forfeited or expired — — Outstanding as of April 30, 2021 2,197,475 1.79 Granted 1,656,000 2.59 Exercised (112,500 ) 0.96 Forfeited or expired (26,000 ) 2.12 Outstanding as of January 31, 2022 3,714,975 2.17 8.72 $ 1,010,178 Exercisable as of January 31, 2022 1,897,142 $ 2.13 8.01 $ 687,111 Stock compensation expense was as follows: Three months ended January 31, Nine months ended January 31, 2022 2021 2022 2021 General and administrative $ 343,549 $ 336,301 $ 952,899 $ 525,559 Research and development 143,279 179,157 284,511 199,047 Operations 182,320 170,612 556,928 175,586 Sales and marketing 112,975 168,125 271,808 168,125 Total $ 782,123 $ 854,195 $ 2,066,146 $ 1,068,317

Note 17 - Derivatives

Note 17 - Derivatives	9 Months Ended
	Jan. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Note 17 - Derivatives	Note 17 - Derivatives The Company completed financings in October 2020 and January 2021 which included notes and warrants containing embedded features subject to derivative accounting. See Note 11 for a full description of these financings. Both the notes and the warrants included provisions which provided for a reduction in the conversion and exercise prices, respectively, if the Company completed a future qualified offering at a lower price. These provisions represent embedded derivatives which are valued separately from the host instrument (meaning the notes and warrants) and recognized as derivative liabilities on the Company's balance sheet. The Company initially measures these financial instruments at their estimated fair value and recognizes changes in their estimated fair value in results of operations during the period of change. The Company also measures these financial instruments on the date of settlement (meaning when the note is converted or the warrant is exercised) at their estimated fair value and recognizes changes in their estimated fair value in results of operations. Any discount in the carrying value of the note is fully amortized on the date of settlement and recognized as interest expense. The Company estimated the fair value of these embedded derivatives using a multinomial lattice mode1. The range of underlying assumptions used in the binomial model to determine the fair value of the derivative warrant liability upon settlement of the derivative liability and as of January 31, 2022 are set forth below. In addition, the Company's stock price on each measurement date was used in the model. Risk-free interest rate 1.39 1.39 Expected dividend yield — Expected term (in years) 3.67 3.99 Expected volatility 245.10 249.99 As of January 31, 2022, all of the notes had been converted into common stock and 806,666 Three months ended January 31, Nine months ended January 31, 2022 2021 2022 2021 Balance, beginning of period $ 2,376,565 $ 812,390 $ 2,812,767 $ — Additions 4,981,701 5,710,288 Eliminated upon exercise of warrants — — (163,141) — Changes in fair value (1,026,466) 3,350,135 (1,299,527) 3,433,938 Balance, end of period $ 1,350,099 $ 9,144,226 $ 1,350,099 $ 9,144,226 Changes in fair value primarily related to changes in the Company’s stock price during the period with increases in the stock price increasing the liability and decreases in the stock price reducing the liability.

Note 18 - Related-Party Transac

Note 18 - Related-Party Transactions	9 Months Ended
	Jan. 31, 2022
Related Party Transactions [Abstract]
Note 18 - Related-Party Transactions	Note 18 - Related-Party Transactions In November 2019, the Company issued a convertible note in the principal amount of $ 300,000 to one accredited investor and in December 2019, the Company issued a convertible note in the principal amount of $ 125,000 to a director and a convertible note in the principal amount of $ 25,000 to our chief executive officer (collectively, the "2019 Notes"). The Notes had a term of 2 years and accrued interest at an annual rate of 12 % through the date of conversion. In September and October 2020, the entire $ 450,000 of 2019 Notes, plus accrued interest totaling $ 45,204 , was converted into 710,444 shares of common stock. In July 2021, the Company entered into a consulting agreement with a director resulting in monthly payments of $ 6,000 150,000 2.51 10,000 In January 2022, the Company entered into a note agreement with an employee in the principal amount of $ 510,323 Additional related party transactions are disclosed in Note 10.

Note 19 - Subsequent Events

Note 19 - Subsequent Events	9 Months Ended
	Jan. 31, 2022
Subsequent Events [Abstract]
Note 19 - Subsequent Events	Note 19 - Subsequent Events Subsequent events have been evaluated through the date of this filing and there are no subsequent events which require disclosure except as set forth below: The SBA PPP loan principal balance of $ 300,910 3,001

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Jan. 31, 2022
Accounting Policies [Abstract]
Basis of Accounting	Basis of Accounting
Principles of Consolidation	Principles of Consolidation
Use of Estimates	Use of Estimates
Cash and Cash Equivalents	Cash and Cash Equivalents 7,111,527
Marketable Securities	Marketable Securities We have elected to present accrued interest receivable separately from marketable securities on our consolidated balance sheets. Accrued interest receivable was $ 393,543
Accounts Receivable, net	Accounts Receivable, net
Inventories	Inventories
Goodwill	Goodwill We perform an impairment test at the end of each fiscal year, or more frequently if indications of impairment arise. We have a single reporting unit, and consequently, evaluate goodwill for impairment based on an evaluation of the fair value of the Company as a whole.
Leases	Leases The Company determines if a contract is a lease or contains a lease at inception. Operating lease liabilities are measured, on each reporting date, based on the present value of the future minimum lease payments over the remaining lease term. The Company's leases do not provide an implicit rate. Therefore, the Company uses an effective discount rate of 12% based on its recent debt financings. Operating lease assets are measured by adjusting the lease liability for lease incentives, initial direct costs incurred and asset impairments. Lease expense for minimum lease payments is recognized on a straight line basis over the lease term with the operating lease asset reduced by the amount of the expense. Lease terms may include options to extend or terminate a lease when they are reasonably certain to occur.
Fair Values, Inputs and Valuation Techniques for Financial Assets and Liabilities and Related Disclosures	Fair Values, Inputs and Valuation Techniques for Financial Assets and Liabilities and Related Disclosures The fair value measurements and disclosure guidance defines fair value and establishes a framework for measuring fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In accordance with this guidance, the Company has categorized its recurring basis financial assets and liabilities into a three-level fair value hierarchy based on the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. We disclose and recognize the fair value of our assets and liabilities using a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. The guidance establishes three levels of the fair value hierarchy as follows: Level 1 Level 2 Level 3 Disclosures for Non-Financial Assets Measured at Fair Value on a Non-Recurring Basis The Company's financial instruments mainly consist of cash, receivables, current assets, accounts payable and accrued expenses and debt. The carrying amounts of its cash, receivables, current assets, accounts payable, accrued expenses and current debt approximates fair value due to the short-term nature of these instruments. Convertible Securities and Derivatives When the Company issues convertible debt or equity instruments that contain embedded derivative instruments that are to be bifurcated and accounted for as liabilities, the total proceeds from the convertible host instruments are first allocated to the bifurcated derivative instruments. The remaining proceeds, if any, are then allocated to the convertible instruments themselves, resulting in those instruments being recorded at a discount from their face value but no lower than zero. Any excess amount is recognized as a derivative expense. Derivative Liabilities The Company has financial instruments that are considered derivatives or contain embedded features subject to derivative accounting. Embedded derivatives are valued separately from the host instrument and are recognized as derivative liabilities in the Company's balance sheet. The Company measures these instruments at their estimated fair value and recognizes changes in their estimated fair value in results of operations during the period of change. In October 2020 and January 2021, the Company entered into convertible note agreements which included provisions under which the conversion price was equal to the lesser of an initial stated amount or the conversion price of a future offering. This variable conversion feature was recognized as a derivative. Both financings included the issuance of warrants which contained similar variable conversion features. The Company values these convertible notes and warrants using the multinomial lattice method that values the derivative liability within the notes based on a probability weighted discounted cash flow model. The resulting liability is valued at each reporting date and the change in the liability is reflected as change in derivative liability in the statement of operations.
Revenue Recognition	Revenue Recognition 336,621 46,096
Research and Development	Research and Development
Income Taxes	Income Taxes
Recent Accounting Pronouncements	Recent Accounting Pronouncements
Foreign Currency	Foreign Currency
Comprehensive Loss	Comprehensive Loss 567 2,158
Stock-Based Compensation	Stock-Based Compensation
Basic and Diluted Net Loss per Share	Basic and Diluted Net Loss per Share
Related Parties	Related Parties

Note 1 - The Business (Tables)

Note 1 - The Business (Tables)	9 Months Ended
	Jan. 31, 2022
Accounting Policies [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Shares issued $ 1,820,114 Promissory note issued 175,000 Total Purchase Price $ 1,995,114 Assets acquired Cash 21,623 Accounts receivable 28,500 Other assets 3,853 Inventory 127,411 Trademark 20,000 Brand name 578,000 Customer relationships 39,000 Total assets acquired 818,387 Liabilities assumed Accounts payable and accrued expenses 171,651 Notes payable 209,799 Due to related party 197,846 Total liabilities assumed 579,296 Total fair value of net assets acquired 239,091 Goodwill $ 1,756,023
[custom:ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumed3TableTextBlock]	Shares issued $ 6,351,076 Promissory note issued 1,753,000 Cash 250,000 Total Purchase Price $ 8,354,076 Assets acquired Cash 201,632 Accounts receivable 249,159 Other assets 384,232 Inventory 223,380 Brand name 1,144,000 Proprietary technology 272,000 Non-compete agreement 16,000 Total assets acquired 2,490,403 Liabilities assumed Accounts payable and accrued expenses 279,393 Customer deposits 25,194 Total liabilities assumed 304,587 Total fair value of net assets acquired 2,185,816 Goodwill $ 6,168,260
[custom:ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumed4TableTextBlock]	Shares issued $ 2,716,013 Cash 75,000 Total Purchase Price $ 2,791,013 Assets acquired Cash 13,502 Accounts receivable 51,083 Other assets 12,950 Inventory 50,556 Total assets acquired 128,091 Liabilities assumed Accounts payable and accrued expenses 1,054,997 Total liabilities assumed 1,054,997 Total fair value of net assets acquired (926,906 ) Goodwill $ 3,717,919
[custom:ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumed5TableTextBlock]	Total Purchase Price - shares issued $ 10,011,279 Assets acquired Cash 11,364 Accounts receivable 47,964 Other current assets 15,085 Other assets 48,595 Inventory 1,253,755 Total assets acquired 1,376,763 Liabilities assumed Accounts payable and accrued expenses 1,143,899 Customer deposits 1,766,993 Notes payable 2,749,091 Total liabilities assumed 5,659,983 Total fair value of net assets acquired (4,283,220 ) Goodwill $ 14,294,499

Note 3 _ Marketable Securities

Note 3 – Marketable Securities (Tables)	9 Months Ended
	Jan. 31, 2022
Investments, Debt and Equity Securities [Abstract]
[custom:ScheduleOfAmortizedCostNetUnrealizedGainLossFairValues]	Amortized Cost Net Unrealized Gains (Losses) Fair Value Money market funds $ 1,598,428 $ 1,108 $ 1,599,536 Asset-backed securities 3,113,823 (21,984 ) 3,091,839 Corporate bonds 44,387,966 (633,039 ) 43,754,927 Total $ 49,100,217 $ (653,915 ) $ 48,446,302
[custom:ScheduleOfContractualMaturitiesFairValueMeasurements]	One Year or Less One to Over Five Years Total Money market funds $ 1,599,536 $ — $ — $ 1,599,536 Asset-backed securities — 3,091,839 — 3,091,839 Corporate bonds 19,808,158 23,366,723 580,046 43,754,927 Total $ 21,407,694 $ 26,458,562 $ 580,046 $ 48,446,302
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Level 1 Level 2 Level 3 Total Money market funds $ 1,599,536 $ — $ — $ 1,599,536 Asset-backed securities — 3,091,839 — 3,091,839 Corporate bonds — 43,754,927 — 43,754,927 Total $ 1,599,536 $ 46,846,766 $ — $ 48,446,302

Note 4 _ Inventories (Tables)

Note 4 – Inventories (Tables)	9 Months Ended
	Jan. 31, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	January 2022 April 2021 Raw materials $ 1,370,380 $ — Work-in-process 39,153 — Finished goods 930,147 362,072 Total $ 2,339,680 $ 362,072

Note 5 - Other Current Assets (

Note 5 - Other Current Assets (Tables)	9 Months Ended
	Jan. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Current Assets [Table Text Block]	January 2022 April 2021 Prepaid inventory $ 1,539,479 $ 478,939 Accrued interest income 393,549 — Prepaid insurance 140,182 — Prepaid expenses 152,001 115,587 Security deposits 9,372 9,372 Due from related party — 75,000 Total $ 2,234,583 $ 678,898

Note 7 _ Property and Equipme_2

Note 7 – Property and Equipment (Tables)	9 Months Ended
	Jan. 31, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	Original cost $ 423,588 Accumulated depreciation 160,729 Net carrying value $ 262,859

Note 8 _ Operating Leases (Tabl

Note 8 – Operating Leases (Tables)	9 Months Ended
	Jan. 31, 2022
Leases [Abstract]
Schedule of Rent Expense [Table Text Block]	Location Monthly Rent Expiration South Salt Lake, Utah $ 22,000 December 2024 Orlando, Florida $ 4,600 May 2024 Cayman Islands $ 3,438 Month to Month Troy, Michigan $ 2,667 May 2022 Orlando, Florida $ 1,690 September 2022
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Fiscal Year Ended: 2022 $ 98,896 2023 336,257 2024 332,356 2025 230,653 Total $ 998,162

Note 9 _ Debt Obligations (Tabl

Note 9 – Debt Obligations (Tables)	9 Months Ended
	Jan. 31, 2022
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]	Date of Transaction Purchased Receivables Payment to Company Transaction Fees Withholding Rate Fully Repaid In May 2020 $158,200 $140,000 $18,200 17 October 2020 September 2020 $209,050 $185,000 $24,050 17 May 2021 April 2021 $236,500 $215,000 $21,500 17 January 2022
[custom:ScheduleOfDebtPaymentsDueTableTextBlock]	Balance of fiscal year 2022 $ 600,683 2023 680,308 2024 646,287 2025 476,462 2026 62,988 Total $ 2,466,728 Short term – through January 31, 2023 $ 1,127,596 Long term – thereafter $ 1,339,132

Note 15 - Warrants (Tables)

Note 15 - Warrants (Tables)	9 Months Ended
	Jan. 31, 2022
Note 15 - Warrants
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Number of Shares Weighted-average Exercise Price per Share Weighted-average Remaining Contractual Term (in years) Aggregate Intrinsic Value Balance as of April 30, 2020 — — — — Granted 1,074,998 $ 1.50 Exercised (201,666 ) 1.50 Outstanding as of April 30, 2021 873,332 1.50 4.62 $ 2,218,263 Granted 733,333 5.45 Exercised (66,666 ) 1.50 Outstanding at January 31, 2022 1,539,999 $ 3.38 4.13 $ 1,371,332

Note 16 - Share Based Awards (T

Note 16 - Share Based Awards (Tables)	9 Months Ended
	Jan. 31, 2022
Share-based Payment Arrangement [Abstract]
Schedule of Fair Value Assumption, Date of Securitization or Asset-backed Financing Arrangement, Transferor's Continuing Involvement, Servicing Assets or Liabilities [Table Text Block]	Exercise price 1.69 2.52 Stock price on date of grant 1.69 2.33 Volatility 268.51 270.18 Risk-free interest rate 1.50 1.74 Expected term (years) 8.25 8.25 Dividend yield —
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]	Options Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding as of April 30, 2020 1,597,475 $ 1.10 Granted 600,000 3.63 Exercised — — Forfeited or expired — — Outstanding as of April 30, 2021 2,197,475 1.79 Granted 1,656,000 2.59 Exercised (112,500 ) 0.96 Forfeited or expired (26,000 ) 2.12 Outstanding as of January 31, 2022 3,714,975 2.17 8.72 $ 1,010,178 Exercisable as of January 31, 2022 1,897,142 $ 2.13 8.01 $ 687,111
Schedule of Deferred Compensation Arrangement with Individual, Share-based Payments [Table Text Block]	Three months ended January 31, Nine months ended January 31, 2022 2021 2022 2021 General and administrative $ 343,549 $ 336,301 $ 952,899 $ 525,559 Research and development 143,279 179,157 284,511 199,047 Operations 182,320 170,612 556,928 175,586 Sales and marketing 112,975 168,125 271,808 168,125 Total $ 782,123 $ 854,195 $ 2,066,146 $ 1,068,317

Note 17 - Derivatives (Tables)

Note 17 - Derivatives (Tables)	9 Months Ended
	Jan. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Risk-free interest rate 1.39 1.39 Expected dividend yield — Expected term (in years) 3.67 3.99 Expected volatility 245.10 249.99
Schedule of Derivative Liabilities at Fair Value [Table Text Block]	Three months ended January 31, Nine months ended January 31, 2022 2021 2022 2021 Balance, beginning of period $ 2,376,565 $ 812,390 $ 2,812,767 $ — Additions 4,981,701 5,710,288 Eliminated upon exercise of warrants — — (163,141) — Changes in fair value (1,026,466) 3,350,135 (1,299,527) 3,433,938 Balance, end of period $ 1,350,099 $ 9,144,226 $ 1,350,099 $ 9,144,226

Rotor Riot Acquisition - Summar

Rotor Riot Acquisition - Summary of the purchase price and its related allocation (Details) - Rotor Riot Acquisition	3 Months Ended
	Jan. 31, 2020USD ($)
Restructuring Cost and Reserve [Line Items]
Promissory note issued	$ 175,000
Total Purchase Price	1,995,114
Assets acquired
Cash	21,623
Accounts receivable	28,500
Other assets	3,853
Inventory	127,411
Trademark	20,000
Brand name	578,000
Customer relationships	39,000
Total assets acquired	818,387
Liabilities assumed
Accounts payable and accrued expenses	171,651
Notes payable	209,799
Due to related party	197,846
Total liabilities assumed	579,296
Total fair value of net assets acquired	239,091
Goodwill	$ 1,756,023

Fat Shark Acquisition - Summary

Fat Shark Acquisition - Summary of the purchase price and its related allocation (Details) - USD ($)	3 Months Ended	9 Months Ended
	Jan. 31, 2021	Jan. 31, 2022	Jan. 31, 2021
Restructuring Cost and Reserve [Line Items]
Cash			$ 48,368
Fat Shark Acquisition
Restructuring Cost and Reserve [Line Items]
Promissory note issued	$ 1,753,000
Cash	250,000
Total Purchase Price	8,354,076
Assets acquired
Cash	201,632		201,632
Accounts receivable	249,159		249,159
Other assets	384,232		384,232
Inventory	223,380		223,380
Brand name	1,144,000		1,144,000
Proprietary technology	272,000		272,000
Non-compete agreement	16,000		16,000
Total assets acquired	2,490,403		2,490,403
Liabilities assumed
Accounts payable and accrued expenses	279,393		279,393
Customer deposits	25,194		25,194
Total liabilities assumed	304,587		304,587
Total fair value of net assets acquired	2,185,816		2,185,816
Goodwill	$ 6,168,260		$ 6,168,260

Skypersonic Acquisition - Summa

Skypersonic Acquisition - Summary of the purchase price and its related allocation (Details) - USD ($)	9 Months Ended
	Jan. 31, 2022	Jan. 31, 2021
Restructuring Cost and Reserve [Line Items]
Cash		$ 48,368
Skypersonic Acquisition
Restructuring Cost and Reserve [Line Items]
Cash	75,000
Total Purchase Price	2,791,013
Assets acquired
Cash	13,502
Accounts receivable	51,083
Other assets	12,950
Inventory	50,556
Total assets acquired	128,091
Liabilities assumed
Accounts payable and accrued expenses	1,054,997
Total liabilities assumed	1,054,997
Total fair value of net assets acquired	(926,906)
Goodwill	$ 3,717,919

Teal Drones Acquisition - Revis

Teal Drones Acquisition - Revised summary of the purchase price and its related allocation (Details) - Teal Drones Acquisition	Jan. 31, 2022USD ($)
Assets acquired
Cash	$ 11,364
Accounts receivable	47,964
Other current assets	15,085
Other assets	48,595
Inventory	1,253,755
Total assets acquired	1,376,763
Liabilities assumed
Accounts payable and accrued expenses	1,143,899
Customer deposits	1,766,993
Notes payable	2,749,091
Total liabilities assumed	5,659,983
Total fair value of net assets acquired	(4,283,220)
Goodwill	$ 14,294,499

Note 1 - The Business (Details

Note 1 - The Business (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Feb. 28, 2021	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2022
Rotor Riot Acquisition
Restructuring Cost and Reserve [Line Items]
[custom:ShareIssuanceValueMergerAgreement]			$ 2,784,437
[custom:VolumeWeightedAveragePriceMerger]			$ 1.25445
[custom:AggregateSharesIssuedMerger]			2,219,650
[custom:ValueOfSharesIssuedMerger]			$ 1,820,114
[custom:CommonStockClosingPriceOnDate]			$ 0.82
Finite-Lived Customer Relationships, Gross			$ 39,000
Fat Shark Acquisition
Restructuring Cost and Reserve [Line Items]
[custom:AcquisitionTransactionValue]		$ 8,354,076
[custom:AcquisitionStockIssuedShares]		5,227,273
[custom:AcquisitionStockIssuedValue]		$ 6,351,076
[custom:AcquisitionSecuredPromissoryNoteIssuedPrincipalAmount]		1,753,000
[custom:AcquisitionCashPaymentMade]		$ 250,000
Skypersonic Acquisition
Restructuring Cost and Reserve [Line Items]
[custom:AcquisitionStockIssuedShares]				857,124
[custom:AcquisitionStockIssuedValue]				$ 3,291,356
[custom:AcquisitionShareConsiderationAcquiredValue]	$ 3,000,000
[custom:OperatingCostsOfAcquireePaidForByCompanyPriorToAcquisitionClosing]	$ 75,000
[custom:WorkingCapitalDeficitMaximumAmountToResultInReductionOfShareConsiderationValue]				300,000
[custom:ReductionInPurchasePriceFromWorkingCapitalDeficitOfAquiree]				$ 601,622
[custom:CancellationOfSharesHeldInEscrowAsResultOfReductionInAcquisitionPurchasePrice]				149,829

Note 2 - Summary of Significa_3

Note 2 - Summary of Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended	9 Months Ended
	Jan. 31, 2022	Jan. 31, 2022	Apr. 30, 2021	Jan. 31, 2021	Apr. 30, 2020
Accounting Policies [Abstract]
Cash	$ 7,111,527	$ 7,111,527	$ 277,347	$ 471,652	$ 236,668
Accrued Investment Income Receivable	393,543	393,543
Contract with Customer, Liability, Current	336,621	336,621	$ 46,096
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	$ 567	$ 2,158

Amortized cost, net unrealized

Amortized cost, net unrealized gains or losses, and fair values (Details)	9 Months Ended
	Jan. 31, 2022USD ($)
Available For Sale Securities Amortized Cost [Member]
Money market funds	$ 1,598,428
Asset-backed securities	3,113,823
Corporate bonds	44,387,966
Total	49,100,217
Available For Sale Securities Fair Value [Member]
Money market funds	1,599,536
Asset-backed securities	3,091,839
Corporate bonds	43,754,927
Total	48,446,302
Available For Sale Securities Unrealized Gain Loss [Member]
Debt Securities, Available-for-sale, Unrealized Gain (Loss)	1,108
Asset Backed Securities Net Unrealized Gain Losses [Member]
Debt Securities, Available-for-sale, Unrealized Gain (Loss)	(21,984)
Corporate Bonds Unrealized Gain Losses [Member]
Debt Securities, Available-for-sale, Unrealized Gain (Loss)	(633,039)
Available For Sale Securities Net Unrealized Gain Losses [Member]
Debt Securities, Available-for-sale, Unrealized Gain (Loss)	$ (653,915)

Contractual Maturities (Details

Contractual Maturities (Details)	Jan. 31, 2022USD ($)
Contractual Maturities Period 1 [Member]
Money market funds	$ 1,599,536
Asset-backed securities
Corporate bonds	19,808,158
Total	21,407,694
Contractual Maturities Period 2 [Member]
Money market funds
Asset-backed securities	3,091,839
Corporate bonds	23,366,723
Total	26,458,562
Contractual Maturities Period 3 [Member]
Money market funds
Asset-backed securities
Corporate bonds	580,046
Total	580,046
Contractual Maturities Total [Member]
Money market funds	1,599,536
Asset-backed securities	3,091,839
Corporate bonds	43,754,927
Total	$ 48,446,302

Fair Value Hierarchy (Details)

Fair Value Hierarchy (Details)	Jan. 31, 2022USD ($)
Available For Sale Securities Level 1 [Member]
Money market funds	$ 1,599,536
Asset-backed securities
Corporate bonds
Total	1,599,536
Available For Sale Securities Level 2 [Member]
Money market funds
Asset-backed securities	3,091,839
Corporate bonds	43,754,927
Total	46,846,766
Available For Sale Securities Level 3 [Member]
Money market funds
Asset-backed securities
Corporate bonds
Total
Available For Sale Securities Total [Member]
Money market funds	1,599,536
Asset-backed securities	3,091,839
Corporate bonds	43,754,927
Total	$ 48,446,302

Inventories (Details)

Inventories (Details) - USD ($)	Jan. 31, 2022	Apr. 30, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 1,370,380
Work-in-process	39,153
Finished goods	930,147	362,072
Total	$ 2,339,680	$ 362,072

Note 4 _ Inventories (Details N

Note 4 – Inventories (Details Narrative)	Jan. 31, 2022USD ($)
Inventory Disclosure [Abstract]
Purchase Commitment, Remaining Minimum Amount Committed	$ 14,539,895

Other current assets (Details)

Other current assets (Details) - USD ($)	Jan. 31, 2022	Apr. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid inventory	$ 1,539,479	$ 478,939
Accrued interest income	393,549
Prepaid insurance	140,182
Prepaid expenses	152,001	115,587
Security deposits	9,372	9,372
Due from related party		75,000
Total	$ 2,234,583	$ 678,898

Property and equipment (Details

Property and equipment (Details) - USD ($)	Jan. 31, 2022	Apr. 30, 2021
Property, Plant and Equipment [Abstract]
Accumulated depreciation	$ 160,729
Net carrying value	$ 262,859

Operating leases (Details)

Operating leases (Details)	9 Months Ended
	Jan. 31, 2022USD ($)
Operating Lease Location 1 [Member]
Operating Lease, Expense	$ 22,000
Operating Lease Location 2 [Member]
Operating Lease, Expense	4,600
Operating Lease Location 3 [Member]
Operating Lease, Expense	3,438
Operating Lease Location 4 [Member]
Operating Lease, Expense	2,667
Operating Lease Location 5 [Member]
Operating Lease, Expense	$ 1,690

Future lease payment obligation

Future lease payment obligations (Details)	Jan. 31, 2022USD ($)
Leases [Abstract]
	$ 98,896
	336,257
	332,356
	230,653
	$ 998,162

Agreements with Shopify (Detail

Agreements with Shopify (Details) - USD ($)	10 Months Ended	17 Months Ended	21 Months Ended
	Jan. 31, 2022	Jan. 31, 2022	Jan. 31, 2022
May 2020
Short-term Debt [Line Items]
[custom:PurchasedReceivables]			$ 158,200
Proceeds from Sale of Productive Assets			140,000
[custom:TransactionFees]			$ 18,200
[custom:WithholdingRate]			17.00%
September 2020
Short-term Debt [Line Items]
[custom:PurchasedReceivables]		$ 209,050
Proceeds from Sale of Productive Assets		185,000
[custom:TransactionFees]		$ 24,050
[custom:WithholdingRate]		17.00%
April 2021
Short-term Debt [Line Items]
[custom:PurchasedReceivables]	$ 236,500
Proceeds from Sale of Productive Assets	215,000
[custom:TransactionFees]	$ 21,500
[custom:WithholdingRate]	17.00%

Outstanding principal payments

Outstanding principal payments (Details)	Jan. 31, 2022USD ($)
Debt Disclosure [Abstract]
2023	$ 680,308
2024	646,287
2025	476,462
2026	62,988
Total	2,466,728
Short term – through January 31, 2023	1,127,596
Long term – thereafter	$ 1,339,132

Note 9 _ Debt Obligations (Deta

Note 9 – Debt Obligations (Details Narrative) - USD ($)	Feb. 17, 2022	Feb. 12, 2021	Jul. 31, 2022	Jan. 31, 2022	Oct. 31, 2021	Sep. 30, 2021	May 31, 2021	Jan. 31, 2022	Jan. 31, 2022	Jan. 31, 2022	Aug. 31, 2021	Jan. 31, 2022	Jan. 31, 2021
Debt Obligation 1 [Member]
Short-term Debt [Line Items]
Debt Instrument, Face Amount											$ 1,670,294
Debt Instrument, Interest Rate During Period										10.00%
Debt Instrument, Periodic Payment										$ 49,275
Long-term Debt, Gross				$ 1,483,383				$ 1,483,383	$ 1,483,383	1,483,383		$ 1,483,383
Debt Obligation 2 [Member]
Short-term Debt [Line Items]
Debt Instrument, Interest Rate During Period												0.13%
[custom:ConvertibleNoteAgreementAmount]							$ 350,000
Debt Obligation 3 [Member]
Short-term Debt [Line Items]
Debt Instrument, Face Amount											387,500
Debt Instrument, Periodic Payment										37,500
Long-term Debt, Gross				200,000				$ 200,000	200,000	200,000		$ 200,000
[custom:DebtInstrumentPeriodicPaymentFinalPaymentDue]			$ 12,500
Debt Obligation 4 [Member]
Short-term Debt [Line Items]
[custom:SBAPPPLoanAmountsReceived]		$ 300,910
[custom:SBAPPPLoanPrincipalBalanceForgiven]	$ 300,910
[custom:SBAPPPLoanAccruedInterestForgiven]	$ 3,001
Debt Obligation 6 [Member]
Short-term Debt [Line Items]
Debt Instrument, Interest Rate During Period								8.25%
Debt Instrument, Periodic Payment								$ 3,595
Long-term Debt, Gross				111,180				111,180	111,180	111,180		111,180
[custom:LeaseholdImprovementAgreementFundsReceived]				60,000	$ 60,000
Debt Obligation 7 [Member]
Short-term Debt [Line Items]
Debt Instrument, Face Amount											38,758
Debt Obligation 8 [Member]
Short-term Debt [Line Items]
Debt Instrument, Periodic Payment									656
Long-term Debt, Gross				$ 21,255				$ 21,255	$ 21,255	$ 21,255		$ 21,255
[custom:FinancingAgreementFundingOfPurchaseOfFixedAsset]						$ 24,383
Debt Obligation 9 [Member]
Short-term Debt [Line Items]
[custom:FundsAdvancedPursuantToAgreement]											75,444		$ 100,000
[custom:TransactionFees]											$ 2,444		$ 6,900

Note 10 - Due to Related Party

Note 10 - Due to Related Party (Details Narrative) - USD ($)	1 Months Ended			12 Months Ended	15 Months Ended	25 Months Ended
	Oct. 31, 2021	Sep. 30, 2021	May 31, 2021	Dec. 31, 2020	Jan. 31, 2022	Jan. 31, 2022	Apr. 30, 2021
Due To Related Party 1 [Member]
Short-term Debt [Line Items]
[custom:PromissoryNoteOriginalPrincipalAmount]					$ 1,753,000
Debt Instrument, Interest Rate During Period					3.00%
[custom:RefundRelatedToPrepaidInventoryIssuedByCompany]			$ 132,200
[custom:DebtInstrumentOutstandingBalancePayment]		$ 1,620,800
[custom:DebtInstrumentOutstandingAccruedInterestPayment]		$ 45,129
Due To Related Party 2 [Member]
Short-term Debt [Line Items]
[custom:PromissoryNoteOriginalPrincipalAmount]						$ 175,000
Debt Instrument, Interest Rate During Period						4.75%
[custom:DebtInstrumentOutstandingBalancePayment]	$ 85,172
[custom:DebtInstrumentOutstandingAccruedInterestPayment]	$ 12,942
[custom:LineOfCreditObligationAssumedInConnectionWithAcquisition]						$ 47,853
[custom:DebtInstrumentInterestRateDuringPeriod1]						6.42%
Due to Other Related Parties, Current					$ 41,622	$ 41,622	$ 47,922
Due To Related Party 3 [Member]
Short-term Debt [Line Items]
Debt Instrument, Interest Rate During Period				5.00%
Due to Other Related Parties, Current							$ 74,000
[custom:AdvancesReceivedFromRelatedParty]				$ 79,000

Note 11 - Convertible Notes (De

Note 11 - Convertible Notes (Details Narrative) - USD ($)	1 Months Ended	2 Months Ended	3 Months Ended	4 Months Ended
	Jan. 31, 2021	Oct. 31, 2020	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2022
Convertible Debenture 2019 Notes [Member]
Short-term Debt [Line Items]
[custom:ConvertibleNoteIssuedAccreditedInvestor]			$ 300,000
[custom:ConvertibleNoteIssuedDirector]			125,000
[custom:ConvertibleNoteIssuedChiefExecutiveOfficer]			$ 25,000
Debt Instrument, Term			2 years
Debt Instrument, Interest Rate During Period			12.00%
[custom:ConvertibleNotesPrincipalConversion]		$ 450,000
[custom:ConvertibleNotesAccruedInterestConversion]		$ 45,204
[custom:ConvertibleNotesConversionShares]		710,444
Convertible Debenture 2020 Notes [Member]
Short-term Debt [Line Items]
Debt Instrument, Term				2 years
Debt Instrument, Interest Rate During Period				12.00%
[custom:ConvertiblePromissoryNotePrincipalAmount]				$ 600,000
[custom:WarrantsToPurchaseCommonStock]				399,998
[custom:DerivativeLiabilityInitialValue]				$ 728,587
[custom:DebtDiscountToReduceInitialCarryingValueOfNotes]				580,000
[custom:DebtDiscountAppliedAgainstTransactionFees]				20,000
[custom:DerivativeLiabilityValueRelatedToDerivativeFeaturesOfNotes]				460,588
[custom:DerivativeLiabilityValueRelatedToDerivativeFeaturesOfWarrants]				$ 267,999
[custom:WarrantsOutstanding-0]					266,666
Derivative Liability					$ 445,709
Convertible Debenture 2021 Notes [Member]
Short-term Debt [Line Items]
Debt Instrument, Term	2 years
Debt Instrument, Interest Rate During Period	12.00%
[custom:ConvertiblePromissoryNotePrincipalAmount]	$ 500,000
[custom:WarrantsToPurchaseCommonStock]	675,000
[custom:DerivativeLiabilityInitialValue]	$ 4,981,701
[custom:DebtDiscountToReduceInitialCarryingValueOfNotes]	500,000
[custom:DerivativeLiabilityValueRelatedToDerivativeFeaturesOfNotes]	2,111,035
[custom:DerivativeLiabilityValueRelatedToDerivativeFeaturesOfWarrants]	$ 2,870,666
[custom:WarrantsOutstanding-0]					540,000
Derivative Liability					$ 904,390

Note 12 - Income Taxes (Details

Note 12 - Income Taxes (Details Narrative) - USD ($)	Jan. 31, 2022	Apr. 30, 2021
Income Tax Disclosure [Abstract]
Retained Earnings (Accumulated Deficit)	$ (22,673,118)	$ (15,809,928)
Deferred Tax Assets, Operating Loss Carryforwards	$ 908,000	$ 632,000

Note 13 - Common Stock (Details

Note 13 - Common Stock (Details Narrative) - USD ($)	3 Months Ended				9 Months Ended
	Jan. 31, 2022	Oct. 31, 2021	Jul. 31, 2021	Jan. 31, 2021	Jan. 31, 2022	Apr. 30, 2021
Class of Stock [Line Items]
Common Stock, Par or Stated Value Per Share						$ 0.001
Common Stock, Shares Authorized	500,000,000				500,000,000	500,000,000
Stock Issued During Period, Shares, Other					50,000
Common Stock [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, Acquisitions		21,972	685,321
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture	46,939	243,615	62,500
Stock Issued During Period, Shares, Conversion of Convertible Securities		1,321,966	818,333	1,212,118
Stock Issued During Period, Shares, Issued for Services		20,000	91,667
[custom:StockIssuedDuringPeriodSharesAcquisitions1]		3,588,272		5,227,273
Stock Issued During Period, Shares, Restricted Stock Award, Gross	45,044	162,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period		81,115
[custom:StockIssuedDuringPeriodSharesAppliedAgainstNotePayable]	62,500
[custom:StockIssuedDuringPeriodSharesAppliedAgainstPayrollTaxObligationsOnRestrictedStock]	29,483
Series A Preferred Stock 1 [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, Conversion of Convertible Securities		158,704		50,000
Common Stock Offering 1 [Member]
Class of Stock [Line Items]
Sale of Stock, Number of Shares Issued in Transaction					4,000,000
[custom:SaleOfStockGrossConsiderationReceivedOnTransaction]					$ 16,000,000
Sale of Stock, Consideration Received on Transaction					$ 14,600,000
Common Stock Offering 2 [Member]
Class of Stock [Line Items]
Sale of Stock, Number of Shares Issued in Transaction					13,333,334
[custom:SaleOfStockGrossConsiderationReceivedOnTransaction]					$ 60,000,000
Sale of Stock, Consideration Received on Transaction					$ 55,500,000

Note 14 - Preferred Stock (Deta

Note 14 - Preferred Stock (Details Narrative) - shares	3 Months Ended			9 Months Ended
	Oct. 31, 2021	Jul. 31, 2021	Jan. 31, 2021	Jan. 31, 2022	Apr. 30, 2021
Common Stock [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, Conversion of Convertible Securities	1,321,966	818,333	1,212,118
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Outstanding				0	158,704
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Outstanding				986,676	1,968,676
[custom:PreferredStockSharesConvertibleIntoCommonStockShares]				822,230

Changes in warrants outstanding

Changes in warrants outstanding (Details) - Warrants Outstanding 1 [Member] - USD ($)	9 Months Ended	12 Months Ended
	Jan. 31, 2022	Apr. 30, 2021	Apr. 30, 2020
Class of Warrant or Right [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	1,539,999	873,332
Share-based Payment Arrangement, Option, Exercise Price Range, Outstanding, Weighted Average Exercise Price	$ 3.38	$ 1.50
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value	$ 1,371,332	$ 2,218,263
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	733,333	1,074,998
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 5.45	$ 1.50
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	(66,666)	(201,666)
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price	$ 1.50	$ 1.50
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term	4 years 1 month 17 days	4 years 7 months 13 days

Note 15 - Warrants (Details Nar

Note 15 - Warrants (Details Narrative) - USD ($)	1 Months Ended					2 Months Ended
	Jul. 31, 2021	Jun. 30, 2021	May 31, 2021	Jan. 31, 2021	Oct. 31, 2020	Apr. 30, 2021
Note 15 - Warrants
[custom:WarrantsToPurchaseSharesIssued]	533,333		200,000	675,000	399,998
[custom:ConvertibleNotesIssuedWithWarrantIssuance]				$ 500,000	$ 600,000
[custom:WarrantsIssuedExercisePrice]	$ 5.625		$ 5	$ 1.50	$ 1.50
[custom:WarrantValueAtIssuance]				$ 2,870,666	$ 267,999
[custom:ProceedsReceivedFromExerciseOfWarrants]		$ 99,999				$ 201,249
[custom:ExerciseOfWarrantsShares]		66,666				201,666
[custom:ReductionInDerivativeLiabilityResultingFromExerciseOfWarrants]		$ 163,141				$ 694,305

Assumptions used to calculate t

Assumptions used to calculate the fair value of options granted (Details) - Options Assumptions [Member]	9 Months Ended
	Jan. 31, 2022$ / shares
[custom:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePriceMinimum]	$ 1.69
[custom:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePriceMaximum]	2.52
[custom:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsStockPriceOnDateOfGrantMinimum]	1.69
[custom:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsStockPriceOnDateOfGrantMaximum]	$ 2.33
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum	268.51%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum	270.18%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum	1.50%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum	1.74%
[custom:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTermMinimum]	8 years 3 months
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	8 years 3 months
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate

Summary of activity under the P

Summary of activity under the Plan (Details) - Options 1 [Member] - USD ($)	9 Months Ended	12 Months Ended
	Jan. 31, 2022	Apr. 30, 2021	Apr. 30, 2020
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	3,714,975	2,197,475	1,597,475
Share-based Payment Arrangement, Option, Exercise Price Range, Outstanding, Weighted Average Exercise Price	$ 2.17	$ 1.79	$ 1.10
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	1,656,000	600,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 2.59	$ 3.63
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	112,500
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price	$ 0.96
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Number of Shares	(26,000)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price	$ 2.12
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	(112,500)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	8 years 8 months 19 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value	$ 1,010,178
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	1,897,142
Share-based Payment Arrangement, Option, Exercise Price Range, Exercisable, Weighted Average Exercise Price	$ 2.13
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	8 years 3 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value	$ 687,111

Stock compensation expense (Det

Stock compensation expense (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2022	Jan. 31, 2021
Share-based Payment Arrangement [Abstract]
General and administrative	$ 343,549	$ 336,301	$ 952,899	$ 525,559
Research and development	143,279	179,157	284,511	199,047
Operations	182,320	170,612	556,928	175,586
Sales and marketing	112,975	168,125	271,808	168,125
Total	$ 782,123	$ 854,195	$ 2,066,146	$ 1,068,317

Note 16 - Share Based Awards (D

Note 16 - Share Based Awards (Details Narrative) - USD ($)	9 Months Ended	12 Months Ended
	Jan. 31, 2022	Apr. 30, 2021
Share-based Payment Arrangement [Abstract]
[custom:NumberOfSharesIssuableInConnectionWithAwardsUnderPlanMaximum]	8,750,000
[custom:UnrecognizedStockbasedCompensationExpenseRelatedToUnvestedStockOptionsNetOfEstimatedForfeitures]	$ 3,762,636	$ 914,915

Assumptions used to determine t

Assumptions used to determine the fair value of the derivative warrant liability upon settlement of the derivative liability (Details) - Derivative Warrant Liability [Member]	9 Months Ended
	Jan. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum	1.39%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum	1.39%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate
[custom:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTermMinimum]	3 years 8 months 1 day
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	3 years 11 months 26 days
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum	245.10%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum	249.99%

Changes in the derivative liabi

Changes in the derivative liability (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2022	Jan. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Balance, beginning of period	$ 2,376,565	$ 812,390	$ 2,812,767
Additions		4,981,701		5,710,288
Eliminated upon exercise of warrants			(163,141)
Changes in fair value	(1,026,466)	3,350,135	(1,299,527)	3,433,938
Balance, end of period	$ 1,350,099	$ 9,144,226	$ 1,350,099	$ 9,144,226

Note 17 - Derivatives (Details

Note 17 - Derivatives (Details Narrative)	Jan. 31, 2022shares
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Class of Warrant or Right, Outstanding	806,666

Note 18 - Related-Party Trans_2

Note 18 - Related-Party Transactions (Details Narrative) - USD ($)	1 Months Ended	2 Months Ended	3 Months Ended	6 Months Ended	7 Months Ended
	Jan. 31, 2022	Oct. 31, 2020	Jan. 31, 2020	Dec. 31, 2021	Jan. 31, 2022
Related Party [Member]
Related Party Transaction [Line Items]
[custom:ConvertibleNoteIssuedAccreditedInvestor]			$ 300,000
[custom:ConvertibleNoteIssuedDirector]			125,000
[custom:ConvertibleNoteIssuedChiefExecutiveOfficer]			$ 25,000
Debt Instrument, Term			2 years
Debt Instrument, Interest Rate During Period			12.00%
[custom:ConvertibleNotesPrincipalConversion]		$ 450,000
[custom:ConvertibleNotesAccruedInterestConversion]		$ 45,204
[custom:ConvertibleNotesConversionShares]		710,444
Director 1 [Member]
Related Party Transaction [Line Items]
[custom:ConsultingAgreementMonthlyPayments]	$ 10,000			$ 6,000
[custom:OptionsToPurchaseCommonStockIssuedPursuantToConsultingAgreement]					150,000
[custom:OptionsToPurchaseCommonStockIssuedPursuantToConsutlingAgreementPurchasePrice]					$ 2.51
Employee [Member]
Related Party Transaction [Line Items]
[custom:NoteAgreementPrincipalAmount]	$ 510,323

Note 19 - Subsequent Events (De

Note 19 - Subsequent Events (Details Narrative) - Debt Obligation 4 [Member]	Feb. 17, 2022USD ($)
Short-term Debt [Line Items]
[custom:SBAPPPLoanPrincipalBalanceForgiven]	$ 300,910
[custom:SBAPPPLoanAccruedInterestForgiven]	$ 3,001