Annual report pursuant to Section 13 and 15(d)

Note 14 ??? Common Stock

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Note 14 – Common Stock
12 Months Ended
Apr. 30, 2022
Equity [Abstract]  
Note 14 – Common Stock

Note 14 – Common Stock

 

Our common stock has a par value of $0.001 per share. We are authorized to issue 500,000,000 shares of common stock. Each share of common stock is entitled to one vote. 

 

During the year ended April 30, 2022, shares of common stock issued by the Company included:

 

-  1,321,996 in connection with the conversion of 158,704 shares of Series A Preferred Stock

 

-  818,333 in connection with the conversion of 982,000 shares of Series B Preferred Stock

 

-  66,666 due to the exercise of warrants

 

- 707,293 in connection with the acquisition of Skypersonic which closed on May 7, 2021, as further described in Note 1

 

- 3,588,272 in connection with the acquisition of Teal Drones which closed on August 31, 2021, as further described in Note 1

 

- 17,333,334 in connection with two closed offerings which generated gross proceeds of $76 million and net proceeds of approximately $70.1 million

  

-  89,107 due to the exercise of stock options

 

- 225,637 under restricted stock agreements with employees. In addition, 225,870 shares which were pending issuance under restricted stock agreements, were instead applied toward payroll tax obligations on restricted stock and 92,812 shares were applied against the Note described in Note 6.

 

- 55,166 under restricted stock agreements with non-employees

 

- 111,667 for services rendered