Note 1 – The Business (Tables)
|
12 Months Ended |
Apr. 30, 2023 |
Accounting Policies [Abstract] |
|
[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 |
|
Goodwill |
|
$ |
6,168,260 |
|
Total
assets acquired |
|
|
8,658,663 |
|
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 |
|
|
8,354,076 |
|
|
[custom:ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumed4TableTextBlock] |
Shares issued |
|
$ |
2,716,012 |
|
Cash |
|
|
75,000 |
|
Total Purchase Price |
|
$ |
2,791,012 |
|
Assets acquired |
|
|
Cash |
|
|
13,502 |
|
Accounts receivable |
|
|
51,083 |
|
Other assets |
|
|
12,950 |
|
Inventory |
|
|
50,556 |
|
Proprietary technology |
|
|
826,000 |
|
Non-compete agreement |
|
|
65,000 |
|
Goodwill |
|
$ |
2,826,918 |
|
Total
assets acquired |
|
|
3,846,009 |
|
Liabilities assumed |
|
|
|
|
Accounts payable
and accrued expenses |
|
|
1,054,997 |
|
Total
liabilities assumed |
|
|
1,054,997 |
|
Total fair value
of net assets acquired |
|
|
2,791,012 |
|
|
[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 |
|
Brand name |
|
|
1,430,000 |
|
Proprietary technology |
|
|
3,869,000 |
|
Goodwill |
|
$ |
8,995,499 |
|
Total
assets acquired |
|
|
15,671,262 |
|
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 |
|
|
10,011,279 |
|
|
Business Acquisition, Pro Forma Information [Table Text Block] |
|
|
|
|
|
|
|
|
|
Year
ended April 30, 2022 |
|
|
Red Cat |
|
Teal |
|
Consolidated |
Revenues |
|
$ |
6,428,963 |
|
|
$ |
416,063 |
|
|
$ |
6,845,026 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Loss |
|
|
(11,689,128 |
) |
|
|
(1,467,770 |
) |
|
|
(13,156,898 |
) |
|