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(“OPTI”) was founded in 1984 in New Jersey, commenced business operations in 1994 and re-incorporated in Delaware in 2007. Ocean Power Technologies, Inc. acquired 3dent Technology, LLC (“3Dent”), in February 2021 and Marine Advanced Robotics, Inc. (“MAR”) in November 2021, both of which are now included as part of OPTI. OPTI, along with its subsidiaries, (the “Company”) is a complete solutions provider, controlling the design, manufacturing, sales, installation, operations and maintenance of its products and services. The Company’s solutions provide distributed offshore power and data which is persistent, reliable, autonomous, renewable, and economical along with power, transportation, and communications for remote surface and subsea applications. Historically, funding from government agencies, such as research and development grants, accounted for a significant portion of the Company’s revenues. The Company’s objective is to generate the majority of its revenues from the sale or lease of its products and solutions, and sales of services to support business operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(b)</i></b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Basis of Presentation</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and for interim financial information in accordance with the Securities and Exchange Commission (“SEC”), instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. The interim operating results are not necessarily indicative of the results for a full year or for any other interim period. Further information on potential factors that could affect the Company’s financial results can be found in the Company’s Annual Report on Form 10-K for the year ended April 30, 2022, as filed with the SEC and elsewhere in our subsequent Exchange Act filings, including this Form 10-Q. Certain items have been reclassified from prior periods to be consistent with current GAAP presentations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(c)</i></b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Liquidity</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the nine months ended January 31, 2023, the Company incurred net losses of approximately $<span id="xdx_90F_eus-gaap--NetIncomeLoss_iN_pn5n6_di_c20220501__20230131_zCBetqOk8cMb" title="Net loss">16.8</span> million, used cash in operations of approximately $<span id="xdx_909_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_pn5n6_di_c20220501__20230131_zQtvdcDyJur" title="Cash in operations">16.1</span> million and had an accumulated deficit of approximately $<span id="xdx_907_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_pn5n6_di_c20230131_zDSMM04dQXq3" title="Accumulated deficit">270.6</span> million. The Company has continued to make investments in ongoing product development efforts and to build inventory in anticipation of, and to support, future growth. The Company’s future results of operations involve significant risks and uncertainties. Factors that could affect the Company’s future operating results and could cause actual results to vary materially from expectations include, but are not limited to, the risks and uncertainties identified under “Special Note Regarding Forward-Looking Statements” in this quarterly report on Form 10-Q. The Company previously obtained equity financing through its At the Market Offering Agreement (“ATM”) with A.G.P/Alliance Global Partners (“AGP”) and through its equity line financing with Aspire Capital Fund, LLC (“Aspire Capital”), but the Company cannot be certain that additional equity and/or debt financing will be available to the Company as needed on acceptable terms, or at all. Management believes the Company’s current cash balance at January 31, 2023 of $<span id="xdx_901_eus-gaap--Cash_iI_pn5n6_c20230131_zF30lHLhC3Eh" title="Cash">11.0</span> million and short term investments balance of $<span id="xdx_902_eus-gaap--ShortTermInvestments_iI_pn5n6_c20230131_zHIAmuJ9dVY6" title="Short-term investments">30.0</span> million is sufficient to fund its planned expenditures through at least March 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 20, 2020, the Company entered into an At-the-Market Offering Agreement with AGP (the “2020 ATM Facility”) pursuant to which the Company may issue and sell, from time to time, shares of the Company’s common stock having an aggregate offering price of up to $<span id="xdx_900_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pn5n6_c20201120__us-gaap--TypeOfArrangementAxis__custom--TwoThousandTwentyATMFacilityMember__dei--LegalEntityAxis__custom--AGPAllianceGlobalPartnersMember_zi0kLPmkxIgh" title="Offering amount capacity">100.0</span> million. The Company’s common stock will be sold at prevailing market prices at the time of sale, and, as a result, prices will vary. Although the Company initially only had filed to sell up to $<span id="xdx_90A_eus-gaap--SaleOfStockConsiderationReceivedPerTransaction_pn5n6_c20201120__20230131__us-gaap--TypeOfArrangementAxis__custom--TwoThousandTwentyATMFacilityMember__dei--LegalEntityAxis__custom--AGPAllianceGlobalPartnersMember_zjUgBKgyAPL7" title="Proceeds from issuance or sale of equity, net of issuance costs">50.0</span> million, a prospectus supplement was filed on January 10, 2022 to allow the Company to sell an additional $<span id="xdx_901_eus-gaap--ProceedsFromIssuanceOfCommonStock_pn5n6_c20220109__20220110__us-gaap--TypeOfArrangementAxis__custom--TwoThousandTwentyATMFacilityMember_zdSMElwNflHa">25.0 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million of common stock up to a total of $<span id="xdx_90D_eus-gaap--SaleOfStockConsiderationReceivedPerTransaction_pn5n6_c20220109__20220110__us-gaap--TypeOfArrangementAxis__custom--TwoThousandTwentyATMFacilityMember_z2k2hZdaMvzk">75.0 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million under the 2020 ATM Facility. As of January 31, 2023, an aggregate of $<span id="xdx_90B_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pn5n6_c20230131__us-gaap--TypeOfArrangementAxis__custom--TwoThousandTwentyATMFacilityMember__dei--LegalEntityAxis__custom--AGPAllianceGlobalPartnersMember_zDPcC67krgcg" title="Offering amount capacity">50.0</span> million remained available under this facility, subject to the filing of a prospectus supplement for an additional $<span id="xdx_903_eus-gaap--ProceedsFromIssuanceOfCommonStock_pn5n6_c20220501__20230131__us-gaap--TypeOfArrangementAxis__custom--TwoThousandTwentyATMFacilityMember__dei--LegalEntityAxis__custom--AGPAllianceGlobalPartnersMember_zDMEjlk8wVr1" title="Offering amount capacity">25.0</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 18, 2020, the Company entered into a common stock purchase agreement with Aspire Capital which provided that, subject to certain terms, conditions and limitations, Aspire Capital was committed to purchase up to an aggregate of $<span id="xdx_906_ecustom--StockIssuedDuringPeriodValueIssuedForCommitmentFee_pn5n6_c20200914__20200918__us-gaap--TypeOfArrangementAxis__custom--StockPurchaseAgreementMember__dei--LegalEntityAxis__custom--AspireCapitalFundLLCMember_zRkT0ix5aprl" title="Aggregate purchase of common stock.">12.5</span> million shares of the Company’s common stock over a 30-month period subject to a limit of <span id="xdx_905_ecustom--PercentageOfOutstandingCommonStockLimitForShareholderApproval_pid_dp_uPure_c20200914__20200918__us-gaap--TypeOfArrangementAxis__custom--StockPurchaseAgreementMember__dei--LegalEntityAxis__custom--AspireCapitalFundLLCMember_z6iIKKVq6rF3" title="Percentage of outstanding common stock">19.99%</span> of the outstanding common stock on the date of the agreement if the price did not exceed a specified price in the agreement. The number of shares the Company could issue within the <span id="xdx_907_ecustom--PercentageOfOutstandingCommonStockLimitForShareholderApproval_pid_dp_uPure_c20200914__20200918__us-gaap--TypeOfArrangementAxis__custom--StockPurchaseAgreementMember__dei--LegalEntityAxis__custom--AspireCapitalFundLLCMember_zsSeposoKjS5" title="Percentage of outstanding common stock">19.99%</span> limit was <span id="xdx_903_ecustom--StockIssuedDuringPeriodSharesCanBeIssuedBasedUponOutstandingPercentage_pp0p0_c20200914__20200918__us-gaap--TypeOfArrangementAxis__custom--StockPurchaseAgreementMember__dei--LegalEntityAxis__custom--AspireCapitalFundLLCMember_zi3ZzxkZAvKk" title="Shares can be issued based upon outstanding percentage">3,722,251</span> shares without shareholder approval. Shareholder approval was received at the Company’s annual meeting of shareholders on December 23, 2020 for the sale of <span id="xdx_90B_ecustom--NumberOfAdditionalSharesThatCanBeIssuedUponShareholderApproval_pp0p0_c20201222__20201223__us-gaap--TypeOfArrangementAxis__custom--StockPurchaseAgreementMember__dei--LegalEntityAxis__custom--AspireCapitalFundLLCMember_zfSAQSFwQKC8" title="Additional sales of common stock shares sold">9,864,706</span> additional shares of common stock which exceeded the <span id="xdx_90B_ecustom--PercentageOfOutstandingCommonStockLimitForShareholderApproval_pid_dp_uPure_c20201222__20201223__us-gaap--TypeOfArrangementAxis__custom--StockPurchaseAgreementMember__dei--LegalEntityAxis__custom--AspireCapitalFundLLCMember_z3CbwGqzAGGf" title="Percentage of outstanding common stock">19.99%</span> limit of the outstanding common stock on the date of the agreement. Through January 31, 2023, the Company had sold an aggregate of <span id="xdx_903_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pp0p0_c20220501__20230131__us-gaap--TypeOfArrangementAxis__custom--StockPurchaseAgreementMember__dei--LegalEntityAxis__custom--AspireCapitalFundLLCMember_zleyrVhX1Tb7" title="Number of common stock shares sold">3,722,251</span> shares of common stock with an aggregate market value of $<span id="xdx_907_eus-gaap--SaleOfStockConsiderationReceivedPerTransaction_pn5n6_c20220501__20230131__us-gaap--TypeOfArrangementAxis__custom--StockPurchaseAgreementMember__dei--LegalEntityAxis__custom--AspireCapitalFundLLCMember_zzyMkyzZYtdd" title="Proceeds from issuance or sale of equity, net of issuance costs">11.8</span> million at an average price of $<span id="xdx_905_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20230131__us-gaap--TypeOfArrangementAxis__custom--StockPurchaseAgreementMember__dei--LegalEntityAxis__custom--AspireCapitalFundLLCMember_zjNsFo5Wghgh" title="Combined purchase price per share">3.17</span> per share pursuant to this common stock purchase agreement with approximately $<span id="xdx_907_ecustom--SaleOfStockConsiderationReceivedPerTransactionRemaining_pn5n6_c20220501__20230131__us-gaap--TypeOfArrangementAxis__custom--StockPurchaseAgreementMember__dei--LegalEntityAxis__custom--AspireCapitalFundLLCMember_zU98bp7LLQP" title="Proceeds from issuance or sale of equity, net of issuance costs">0.7</span> million remaining on the facility as of January 31, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> -16800000 -16100000 -270600000 11000000.0 30000000.0 100000000.0 50000000.0 25000000.0 75000000.0 50000000.0 25000000.0 12500000 0.1999 0.1999 3722251 9864706 0.1999 3722251 11800000 3.17 700000 <p id="xdx_803_eus-gaap--SignificantAccountingPoliciesTextBlock_zjzTJtzMO8N9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(2) <span id="xdx_829_zXZtIjWE7xba">Summary of Significant Accounting Policies</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84A_eus-gaap--ConsolidationPolicyTextBlock_zh17oRFYiuq3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(a) <span id="xdx_862_zeCjffEByj07">Consolidation</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries, Ocean Power Technologies Ltd. in the United Kingdom, and Ocean Power Technologies (Australasia) Pty Ltd. in Australia (“OPT-A”). OPT-A is in the process of being liquidated due to inactivity. All documents have been filed with the Australian Tax Organization and the Company expects this to be completed in the current fiscal year. All significant intercompany accounts and transactions have been eliminated in consolidation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_843_eus-gaap--UseOfEstimates_z9CZ2j3yCacf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(b) <span id="xdx_86F_zvPLueYJVhT">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the consolidated financial statements requires management of the Company to make a number of estimates and assumptions relating to the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the period. Significant items subject to such estimates and assumptions include, among other items, stock-based compensation, valuations, purchase price allocations and contingent consideration related to business combinations, expected future cash flows including growth rates, discount rates, terminal values and other assumptions and estimates used to evaluate the recoverability of long-lived assets, goodwill and other intangible assets and the related amortization methods and periods, and estimated hours and costs to complete customer contracts for purposes of revenue recognition. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84B_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_zwK6tIXZsYCb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(c) <span id="xdx_863_zU7zGnOkeL51">Cash, Cash Equivalents, Restricted Cash and Security Agreements and Short Term Investments</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Cash and Cash Equivalents</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. The Company invests excess cash in a money market account or in short term investments that are held-to-maturity. The Company had cash and cash equivalents of approximately $<span id="xdx_904_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn5n6_c20230131_z3GfhOWztze7" title="Cash and cash equivalents">10.9</span> million as of January 31, 2023 and $<span id="xdx_90A_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn5n6_c20220430_zvsgydptGywk" title="Cash and cash equivalents">7.9</span> million as of April 30, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Restricted Cash and Security Agreements</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has a letter of credit agreement with Santander Bank, N.A. (“Santander”). Cash of $<span id="xdx_90F_eus-gaap--Deposits_iI_c20230131__us-gaap--AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis__custom--SantanderBankMember_zgriqrgKK4l4" title="Deposits">154,000</span> is on deposit at Santander and serves as security for a letter of credit issued by Santander for the lease of warehouse/office space in Monroe Township, New Jersey. This agreement cannot be extended beyond July 31, 2025 and is cancellable at the discretion of the bank.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Santander also issued a letter of credit to subsidiaries of Enel Green Power (“EGP”) pursuant to the Company’s contracts with EGP. This letter of credit was originally issued in the amount of $<span id="xdx_904_eus-gaap--LineOfCredit_iI_c20200831__us-gaap--AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis__custom--SantanderBankMember_zMVMEiBSa3Kc" title="Letters of credit outstanding, Amount">645,000</span>, and was reduced to $<span id="xdx_90D_eus-gaap--LettersOfCreditOutstandingAmount_iI_c20200831__us-gaap--AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis__custom--SantanderBankMember_ztpZ9rJFMcsi" title="Letter of credit amount reduced">323,000</span> in August 2020. The letter of credit was further reduced by an additional $<span id="xdx_905_eus-gaap--LettersOfCreditOutstandingAmount_iI_c20230131__us-gaap--AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis__custom--SantanderBankMember_zCzr1YvpJyG6" title="Letter of credit amount reduced">258,000</span> during the quarter ended January 31, 2023 when the PowerBuoy® (“PB3”) and its accompanying systems passed final acceptance testing. The remaining restricted amount of $<span id="xdx_907_eus-gaap--LineOfCredit_iI_c20230131__us-gaap--AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis__custom--SantanderBankMember__us-gaap--AwardDateAxis__custom--JanuaryTwoThousandTwentyFourMember_z10q7Rxpo9Wc" title="Letters of credit issued amount">65,000</span> will be released in January 2024, which is 12 months after the buoy is fully deployed.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_eus-gaap--ScheduleOfRestrictedCashAndCashEquivalentsTextBlock_z7BJ8buoyG54" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets that total to the same amounts shown in the Consolidated Statements of Cash Flows.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8B9_zsTyOejGgXSi" style="display: none">Schedule of Cash and Cash Equivalents and Restricted Cash</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20230131_zW2AXhR05v3f" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">January 31, <br/> 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20220430_zIJQoFOLUsAl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, <br/> 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_40E_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">10,920</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">7,885</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--RestrictedCashCurrent_iI_pn3n3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Restricted cash- short term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">65</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">258</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--RestrictedCashNoncurrent_iI_pn3n3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Restricted cash- long term</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">154</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">219</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_iI_pn3n3" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash, cash equivalents, restricted cash and restricted cash equivalents</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">11,139</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,362</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A7_zj30fg5f6QE6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Short term investments</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During fiscal 2022, the Company acquired investment securities through Charles Schwab Bank. As of January 31, 2023 and April 30, 2022, their carrying value was approximately $<span id="xdx_909_eus-gaap--ShortTermInvestments_iI_pn5n6_c20230131_zVwgiU0pCqw5">30.0</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million and $<span id="xdx_904_eus-gaap--ShortTermInvestments_iI_pn5n6_c20220430_zOE35LKymX5h" title="Investment securities">49.4 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million, respectively. All short term investments consist of corporate bonds, government agency bonds, or U.S. Treasury Notes and Bonds, are investment grade rated or better, and mature within 12 months. The Company has the ability and the intention to hold all investments to maturity, and as such are classified as held-to-maturity investments and carried at amortized cost. The total recognized interest expense on the premium we paid for the securities for the nine month period ended January 31, 2023 and 2022 is approximately $<span id="xdx_905_eus-gaap--InvestmentIncomeNetAmortizationOfDiscountAndPremium_pn5n6_c20220501__20230131_ztkU47zVyZT">0.2 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million and <span id="xdx_90C_eus-gaap--InvestmentIncomeNetAmortizationOfDiscountAndPremium_dc_c20210501__20220131_zs1g9C2Srzx" title="Investment owned at cost">zero</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, respectively. Additionally, there has been no impairment on these investments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89B_eus-gaap--UnrealizedGainLossOnInvestmentsTableTextBlock_zkKJTC7hcLU" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the Company’s short term investments as of January 31, 2023:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BF_zk9ZeuRafLT7" style="display: none">Schedule of Investments and Unrealized Gains/Losses</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Category</td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amortized Cost</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Unrealized<br/> Gains (Losses)</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Market Value</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Corporate Bonds</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20230131__us-gaap--InvestmentTypeAxis__custom--CorporateBondsMember_zSCjlUpeEmji" style="width: 14%; text-align: right" title="Amortized Cost">18,554</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--UnrealizedGainLossOnInvestments_pn3n3_c20220501__20230131__us-gaap--InvestmentTypeAxis__custom--CorporateBondsMember_zfwvliGzhucb" style="width: 14%; text-align: right" title="Unrealized Gains (Losses)">54</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--MoneyMarketFundsAtCarryingValue_iI_pn3n3_c20230131__us-gaap--InvestmentTypeAxis__custom--CorporateBondsMember_zemi0kJflPwj" style="width: 14%; text-align: right" title="Market Value">18,608</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Government Bonds &amp; Notes</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20230131__us-gaap--InvestmentTypeAxis__custom--GovernmentBondsandNotesMember_zWyW2DIaVZGg" style="text-align: right" title="Amortized Cost">8,079</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--UnrealizedGainLossOnInvestments_pn3n3_c20220501__20230131__us-gaap--InvestmentTypeAxis__custom--GovernmentBondsandNotesMember_z0PJixlIWVY8" style="text-align: right" title="Unrealized Gains (Losses)">(22</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--MoneyMarketFundsAtCarryingValue_iI_pn3n3_c20230131__us-gaap--InvestmentTypeAxis__custom--GovernmentBondsandNotesMember_zke64jpsCquc" style="text-align: right" title="Market Value">8,057</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Government Agency</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20230131__us-gaap--InvestmentTypeAxis__custom--GovernmentAgencyMember_zedH1aTroWHk" style="border-bottom: Black 1pt solid; text-align: right" title="Amortized Cost">3,372</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98A_eus-gaap--UnrealizedGainLossOnInvestments_pn3n3_c20220501__20230131__us-gaap--InvestmentTypeAxis__custom--GovernmentAgencyMember_z6eQdzcA7aT5" style="border-bottom: Black 1pt solid; text-align: right" title="Unrealized Gains (Losses)">419</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--MoneyMarketFundsAtCarryingValue_iI_pn3n3_c20230131__us-gaap--InvestmentTypeAxis__custom--GovernmentAgencyMember_zKQ6D3wMu8V9" style="border-bottom: Black 1pt solid; text-align: right" title="Market Value">3,791</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total Short term investments</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20230131_zPd52vyD8Evb" style="border-bottom: Black 2.5pt double; text-align: right" title="Amortized Cost">30,005</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--UnrealizedGainLossOnInvestments_pn3n3_c20220501__20230131_zdQUCcUAknF8" style="border-bottom: Black 2.5pt double; text-align: right" title="Unrealized Gains (Losses)">451</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--MoneyMarketFundsAtCarryingValue_iI_pn3n3_c20230131_zb3pzto8UIxa" style="border-bottom: Black 2.5pt double; text-align: right" title="Market Value">30,456</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AC_zThfjMs5M8o1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_841_eus-gaap--ConcentrationRiskCreditRisk_z41ypVSCkOT4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(d) <span id="xdx_86C_zO3IwgqD9Mqk">Concentration of Credit Risk</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to credit risk consist principally of trade accounts receivable, short term investments and cash equivalents. The Company believes that its credit risk is limited because the Company’s current contracts are with entities with a reliable payment history. The Company invests its excess cash in a money market fund and short term held-to maturity investments and does not believe that it is exposed to any significant risks related to its cash accounts, money market fund, or held-to maturity investments. Cash is also maintained at foreign financial institutions. Cash in foreign financial institutions as of January 31, 2023 was approximately $<span id="xdx_903_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20230131__us-gaap--AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis__custom--ForeignFinancialInstitutionsMember_zfX4R5dHe40d" title="Cash and cash equivalents">14,000</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the nine months ended January 31, 2023 and 2022, the Company had two and four customers whose revenues accounted for at least 10% of the Company’s consolidated revenues, respectively. These revenues accounted for approximately <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220501__20230131__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoAndFourCustomersMember_zDHFSkXu1ts8" title="Concentration risk percentage">28%</span> and <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210501__20220131__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoAndFourCustomersMember_zNb1byje4jkh" title="Concentration risk percentage">58%</span> of the Company’s total revenues for the respective periods. For the three months ended January 31, 2023 and 2022, the Company had five and four customers whose revenues accounted for at least 10% of the Company’s consolidated revenues, respectively. These revenues accounted for approximately <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20221101__20230131__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--FiveAndFourCustomersMember_zIYqEimfoDvb" title="Concentration risk percentage">63%</span> and <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20211101__20220131__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--FiveAndFourCustomersMember_z17Rw3IrMtz6" title="Concentration risk percentage">71%</span> of the Company’s total revenues for the respective periods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_849_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zvNgCeSQ1mu1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(e) <span id="xdx_869_zQcTZgQbI2qj">Share-Based Compensation</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Costs resulting from all share-based payment transactions are recognized in the consolidated financial statements at their fair values. The aggregate share-based compensation expense recorded in the Consolidated Statements of Operations for the nine months ended January 31, 2023 and 2022 was approximately $<span id="xdx_909_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_pn5n6_c20220501__20230131_z1YpYWbH0WS3" title="Share based compensation">0.9</span> million and $<span id="xdx_90D_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_pn5n6_c20210501__20220131_zN8RlS6VRTqi" title="Share based compensation">0.9</span> million, respectively. For the three months ended January 31, 2023 and 2022, share-based compensation expense was $<span id="xdx_90D_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_pn5n6_c20221101__20230131_zEGFcnh7XmEe" title="Share based compensation expense"><span id="xdx_903_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_pn5n6_c20211101__20220131_z6H9ArwAIkSe" title="Share based compensation expense">0.3</span></span> million in each period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_840_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_ztmoS27uj886" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(f) <span id="xdx_865_zaoRNoq2tk6f">Revenue Recognition</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for revenues in accordance with Accounting Standards Codification 606 (ASC 606) for contracts with customers and Accounting Standards Codification 842 (ASC 842) for leasing arrangements. In relation to ASC 606, which states that a performance obligation is the unit of account for revenue recognition, the Company assesses the goods or services promised in a contract with a customer and identifies as a performance obligation as either: a) a good or service (or a bundle of goods or services) that is distinct; or b) a series of distinct goods or services that are substantially the same and that have the same pattern of transfer to the customer. A contract may contain a single performance obligation or multiple performance obligations. For contracts with multiple performance obligations, the Company allocates the contracted transaction price to each performance obligation based upon the relative standalone selling price, which represents the price the Company would sell a promised good or service separately to a customer. The Company determines the standalone selling price based upon the facts and circumstances of each obligated good or service. When no observable standalone selling price is available, the standalone selling price is generally estimated based upon the Company’s forecast of the total cost to satisfy the performance obligation plus an appropriate profit margin.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The nature of the Company’s contracts may give rise to several types of variable consideration, including unpriced change orders, liquidated damages and penalties. Variable consideration can also arise from modifications to the scope of services. Variable consideration is included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur once the uncertainty associated with the variable consideration is resolved. Our estimates of variable consideration and determination of whether to include such amounts in the transaction price are based largely on our assessment of legal enforceability, performance, and any other information (historical, current, and forecasted) that is reasonably available to us. There was no variable consideration as of January 31, 2023 or 2022. The Company presents shipping and handling costs, that occur after control of the promised goods or services transfer to the customer, as fulfillment costs in costs of goods sold and regular shipping and handling activities charged to operating expenses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes revenue when or as it satisfies a performance obligation by transferring a good or service to a customer, either (1) at a point in time or (2) over time. A good or service is transferred when or as the customer obtains control. The evaluation of whether control of each performance obligation is transferred at a point in time or over time is made at contract inception. Input measures such as costs incurred are utilized to assess progress against specific contractual performance obligations for the Company’s services. The selection of the method to measure progress towards completion requires judgment and is based on the nature of the services to be provided. For the Company, the input method using costs incurred or labor hours best represents the measure of progress against the performance obligations incorporated within the contractual agreements. If estimated total costs on any contract project a loss, the Company charges the entire estimated loss to operations in the period the loss becomes known. The cumulative effect of revisions to revenue, estimated costs to complete contracts, including penalties, change orders, claims, anticipated losses, and others are recorded in the accounting period in which the events indicating a loss are known and the loss can be reasonably estimated. These loss projects are re-assessed for each subsequent reporting period until the project is complete. Such revisions could occur at any time and the effects may be material.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s contracts are either cost-plus contracts, fixed-price contracts, time and material agreements, lease or service agreements. Under cost plus contracts, customers are billed for actual expenses incurred plus an agreed-upon fee.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has two types of fixed-price contracts, firm fixed-price and cost-sharing. Under firm fixed-price contracts, the Company receives an agreed-upon amount for providing products and services specified in the contract, and a profit or loss is recognized depending on whether actual costs are more or less than the agreed upon amount. Under cost-sharing contracts, the fixed amount agreed upon with the customer is only intended to fund a portion of the costs on a specific project. Under cost sharing contracts, an amount corresponding to the revenue is recorded in cost of revenues, resulting in gross profit on these contracts of zero. The Company’s share of the costs is recorded as product development expense. The Company reports its disaggregation of revenues by contract type since this method best represents the Company’s business. For the nine-month periods ended January 31, 2023 and 2022, all of the Company’s contracts were classified as firm fixed-price.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company at times enters into agreements with government agencies through Small Business Innovation Research (“SBIR”) contract agreements. These are typically fixed-priced agreements where the Company retains ownership of the data and grants the government a license with unlimited rights to use, disclose, reproduce, prepare derivative works and publicly distribute the data.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Time and materials agreements are billed based solely on the cost of time spent working on the contract and the material used.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of January 31, 2023, the Company’s total remaining performance obligations, also referred to as backlog, totaled $<span id="xdx_903_eus-gaap--RevenueRemainingPerformanceObligation_iI_pn5n6_c20230131_zyZCCHrjM62j" title="Revenue remaining performance obligation">2.5</span> million. The Company expects to recognize approximately <span id="xdx_900_ecustom--RevenueRemainingPerformancesObligationPercentage_pid_dp_uPure_c20220501__20230131_ze8PHKc93SL" title="Revenue remaining performance obligation, percentage">85%</span>, or $<span id="xdx_90C_eus-gaap--RevenueRemainingPerformanceObligation_iI_pn5n6_c20230131__srt--RangeAxis__srt--MaximumMember_z8mftFQaNQOb" title="Revenue remaining performance obligation">2.1</span> million, for the remaining performance obligations as revenue over the next twelve months.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company also enters into lease arrangements for its PowerBuoys and Wave Adaptive Modular Vessels (“WAM-V®”) with certain customers. Revenue related to multiple-element arrangements is allocated to lease and non-lease elements based on their relative standalone selling prices or expected cost plus a margin approach. Lease elements generally include a PowerBuoy, WAM-V®, and components, while non-lease elements, which the Company expects to become more prevalent, generally include engineering, monitoring and support services. In the lease arrangement, the customer may be provided an option to extend the lease term or purchase the leased buoy or WAM-V® at some point during and/or at the end of the lease term.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At inception of a contract, the Company classifies leases as either operating or financing in accordance with the authoritative accounting guidance contained within ASC Topic 842, “Leases”. If the direct financing or sales-type classification criteria are met, then the lease is accounted for as a finance lease. All others are treated as operating leases.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_896_eus-gaap--DisaggregationOfRevenueTableTextBlock_zA2tiYnN7Tlc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes revenue from operating lease arrangements generally on a straight-line basis over the lease term, or as agreed upon in-use days are utilized, which is presented in Revenues in the Consolidated Statement of Operations. The below table represents the total revenue recognized under ASC 606 and ASC 842 for the three and nine months ended January 31, 2023 and 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BC_z0ot4Tn432Tj" style="display: none">Schedule of Revenue Recognizes From Operating Lease Arrangements</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended January 31, 2023</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended January 31, 2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 606</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 842</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 606</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 842</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td><td> </td> <td colspan="10" style="text-align: center">(in thousands)</td><td> </td><td style="border-left: Black 1pt solid"> </td> <td colspan="10" style="text-align: center">(in thousands)</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 9%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Revenue</b></span></td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--Revenues_pn3n3_c20221101__20230131__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201409Member_z9ozO0JXNxRg" style="width: 11%; text-align: right" title="Revenue">559</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--Revenues_pn3n3_c20221101__20230131__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zpBs7EEeGkhg" style="width: 11%; text-align: right" title="Revenue">175</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--Revenues_pn3n3_c20221101__20230131_z44Lir6UClF1" style="width: 11%; text-align: right" title="Revenue">734</td><td style="width: 1%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--Revenues_pn3n3_c20211101__20220131__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201409Member_z0f5I9NKnbj8" style="width: 11%; text-align: right" title="Revenue">484</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--Revenues_pn3n3_c20211101__20220131__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zcz2jHnmAYEj" style="width: 11%; text-align: right" title="Revenue"><span style="-sec-ix-hidden: xdx2ixbrl0806">—</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--Revenues_pn3n3_c20211101__20220131_zT0NnT9hWpd6" style="width: 11%; text-align: right" title="Revenue">484</td><td style="width: 1%; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Nine months ended January 31, 2023</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Nine months ended January 31, 2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 606</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 842</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 606</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 842</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td><td> </td> <td colspan="10" style="text-align: center">(in thousands)</td><td> </td><td style="border-left: Black 1pt solid"> </td> <td colspan="10" style="text-align: center">(in thousands)</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 9%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Revenue</b></span></td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--Revenues_pn3n3_c20220501__20230131__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201409Member_z0sgxUh91Jwi" style="width: 11%; text-align: right" title="Revenue">1,562</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--Revenues_pn3n3_c20220501__20230131__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zBwjWBuNJp1i" style="width: 11%; text-align: right" title="Revenue">190</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--Revenues_pn3n3_c20220501__20230131_z7Eto2Vtf8c5" style="width: 11%; text-align: right" title="Revenue">1,752</td><td style="width: 1%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--Revenues_pn3n3_c20210501__20220131__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201409Member_zj1zhiO7E41h" style="width: 11%; text-align: right" title="Revenue">1,003</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--Revenues_pn3n3_c20210501__20220131__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zhGn7SSuuHS7" style="width: 11%; text-align: right" title="Revenue"><span style="-sec-ix-hidden: xdx2ixbrl0818">—</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--Revenues_pn3n3_c20210501__20220131_z1YedLKuH3yj" style="width: 11%; text-align: right" title="Revenue">1,003</td><td style="width: 1%; text-align: left"> </td></tr> </table> <p id="xdx_8A0_zXTTVdX9P51d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_84B_ecustom--OtherIncomeEmployeeRetentionCreditPolicyTextBlock_zEr3LpXYXibh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(g) <span><span id="xdx_862_zRcNjTMIWAfi">Other Income – Employee Retention Credit</span></span> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Coronavirus Aid, Relief and Economic Security (“CARES”) Act provided an employee retention credit (“ERC”), which was a refundable tax credit against certain employment taxes of up to $<span id="xdx_90B_ecustom--CretainEmployeeTaxes_iI_c20201231__us-gaap--SubsidiarySaleOfStockAxis__custom--EmployeeRetentionCreditMember_zgGInWc3sNk">5,000 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">per employee for eligible employers. The tax credit was equal to <span id="xdx_90A_eus-gaap--CreditDerivativeLiquidationProceedsPercentage_pid_dp_uPure_c20201229__20201231__us-gaap--SubsidiarySaleOfStockAxis__custom--EmployeeRetentionCreditMember_zjvHYvKtQ0ra">50% </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of qualified wages paid to employees during a quarter, capped at $<span id="xdx_90E_eus-gaap--SalariesAndWages_c20201229__20201231__us-gaap--SubsidiarySaleOfStockAxis__custom--EmployeeRetentionCreditMember_z741fjS4Kkxc">10,000 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of qualified wages per employee through December 31, 2020. Additional relief provisions were passed by the United States government, which extend and slightly expand the qualified wage caps on these credits through December 31, 2021. Based on these additional provisions, the tax credit is now equal to <span id="xdx_90B_eus-gaap--CreditDerivativeLiquidationProceedsPercentage_pid_dp_uPure_c20211229__20211231__us-gaap--SubsidiarySaleOfStockAxis__custom--EmployeeRetentionCreditMember_zg6QMVdhEYkl">70% </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of qualified wages paid to employees during a quarter, and the limit on qualified wages per employee has been increased to $<span id="xdx_90B_eus-gaap--SalariesAndWages_c20211229__20211231__us-gaap--SubsidiarySaleOfStockAxis__custom--EmployeeRetentionCreditMember_zh6S5hme1RZ1">10,000 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of qualified wages per quarter.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the three-month period ended October 31, 2022, the Company determined that it qualified for the tax credit under “CARES” and submitted claims of approximately $<span id="xdx_906_ecustom--ClaimedAmount_iI_c20210430__srt--TitleOfIndividualAxis__custom--CaresErcMember_zh5IvWZyyJB" title="Claime amount">612,000</span> and $<span id="xdx_903_ecustom--ClaimedAmount_iI_c20220430__srt--TitleOfIndividualAxis__custom--CaresErcMember_zOl49CE9mii9" title="Claime amount">590,000</span> for the fiscal years ended April 30, 2021 and 2022, respectively, and recognized approximately $<span id="xdx_90D_eus-gaap--OtherIncome_c20220501__20230131__srt--TitleOfIndividualAxis__custom--CaresErcMember_ze7fJneHFzI6" title="Other income">1,202,000</span> as other income in the statement of operations for the nine-month period ended January 31, 2023. Claimed ERC’s are expected to be settled during the year ended April 30, 2023 and have been recorded within other current assets in the accompanying balance sheet as of January 31, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2022 the Company received approximately $<span id="xdx_903_eus-gaap--RevenueFromRelatedParties_c20221101__20221130__us-gaap--IncomeTaxAuthorityAxis__us-gaap--InternalRevenueServiceIRSMember_zacdyUOq5Vgl" title="Reveune from IRS">205,000</span> from the IRS related to the receivable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_845_eus-gaap--EarningsPerSharePolicyTextBlock_zsrQMAj1E2me" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(h) <span id="xdx_86E_zbqDPIjCvCw5">Net Loss per Common Share</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic and diluted net loss per common share for all periods presented is computed by dividing net loss by the weighted average number of shares of common stock and common stock equivalents outstanding during the period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due to the Company’s net losses, potentially dilutive securities, consisting of options to purchase shares of common stock, potential exercises of warrants on common stock and unvested restricted stock issued to employees and non-employee directors, were excluded from the diluted loss per share calculation due to their anti-dilutive effect.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In computing diluted net loss per common share on the Consolidated Statement of Operations, potential exercises of warrants on common stock, options to purchase shares of common stock and non-vested restricted stock issued to employees and non-employee directors, totaling <span id="xdx_903_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20220501__20230131_zoV23W2fbjf1" title="Antidilutive securities earnings per share">8,010,373</span> and <span id="xdx_909_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20210501__20220131_zc2ypRmSINxb" title="Antidilutive securities earnings per share">6,356,123</span> for the nine months ended January 31, 2023 and 2022, respectively, were excluded from each of the computations as the effect would have been anti-dilutive due to the net loss for the periods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_845_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zCqNFKIX7Lb3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(i) <span id="xdx_864_z4YKjAGNQwV1">Recently Issued Accounting Standards</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-13, “<i>Financial Instruments </i>- <i>Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments.” </i>This amendment replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses on instruments within its scope, including trade receivables. This update is intended to provide financial statement users with more decision-useful information about the expected credit losses. In November 2019, the FASB issued No. 2019-10, <i>Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842)</i>, which deferred the effective date of ASU 2016-13 for Smaller Reporting Companies for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company is currently evaluating the impact the adoption of ASU 2016-13 will have on its consolidated financial statements.</span></p> <p id="xdx_85A_zDcBuUFape1g" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/> </p> <p id="xdx_84A_eus-gaap--ConsolidationPolicyTextBlock_zh17oRFYiuq3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(a) <span id="xdx_862_zeCjffEByj07">Consolidation</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries, Ocean Power Technologies Ltd. in the United Kingdom, and Ocean Power Technologies (Australasia) Pty Ltd. in Australia (“OPT-A”). OPT-A is in the process of being liquidated due to inactivity. All documents have been filed with the Australian Tax Organization and the Company expects this to be completed in the current fiscal year. All significant intercompany accounts and transactions have been eliminated in consolidation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_843_eus-gaap--UseOfEstimates_z9CZ2j3yCacf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(b) <span id="xdx_86F_zvPLueYJVhT">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the consolidated financial statements requires management of the Company to make a number of estimates and assumptions relating to the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the period. Significant items subject to such estimates and assumptions include, among other items, stock-based compensation, valuations, purchase price allocations and contingent consideration related to business combinations, expected future cash flows including growth rates, discount rates, terminal values and other assumptions and estimates used to evaluate the recoverability of long-lived assets, goodwill and other intangible assets and the related amortization methods and periods, and estimated hours and costs to complete customer contracts for purposes of revenue recognition. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84B_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_zwK6tIXZsYCb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(c) <span id="xdx_863_zU7zGnOkeL51">Cash, Cash Equivalents, Restricted Cash and Security Agreements and Short Term Investments</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Cash and Cash Equivalents</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. The Company invests excess cash in a money market account or in short term investments that are held-to-maturity. The Company had cash and cash equivalents of approximately $<span id="xdx_904_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn5n6_c20230131_z3GfhOWztze7" title="Cash and cash equivalents">10.9</span> million as of January 31, 2023 and $<span id="xdx_90A_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn5n6_c20220430_zvsgydptGywk" title="Cash and cash equivalents">7.9</span> million as of April 30, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Restricted Cash and Security Agreements</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has a letter of credit agreement with Santander Bank, N.A. (“Santander”). Cash of $<span id="xdx_90F_eus-gaap--Deposits_iI_c20230131__us-gaap--AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis__custom--SantanderBankMember_zgriqrgKK4l4" title="Deposits">154,000</span> is on deposit at Santander and serves as security for a letter of credit issued by Santander for the lease of warehouse/office space in Monroe Township, New Jersey. This agreement cannot be extended beyond July 31, 2025 and is cancellable at the discretion of the bank.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Santander also issued a letter of credit to subsidiaries of Enel Green Power (“EGP”) pursuant to the Company’s contracts with EGP. This letter of credit was originally issued in the amount of $<span id="xdx_904_eus-gaap--LineOfCredit_iI_c20200831__us-gaap--AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis__custom--SantanderBankMember_zMVMEiBSa3Kc" title="Letters of credit outstanding, Amount">645,000</span>, and was reduced to $<span id="xdx_90D_eus-gaap--LettersOfCreditOutstandingAmount_iI_c20200831__us-gaap--AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis__custom--SantanderBankMember_ztpZ9rJFMcsi" title="Letter of credit amount reduced">323,000</span> in August 2020. The letter of credit was further reduced by an additional $<span id="xdx_905_eus-gaap--LettersOfCreditOutstandingAmount_iI_c20230131__us-gaap--AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis__custom--SantanderBankMember_zCzr1YvpJyG6" title="Letter of credit amount reduced">258,000</span> during the quarter ended January 31, 2023 when the PowerBuoy® (“PB3”) and its accompanying systems passed final acceptance testing. The remaining restricted amount of $<span id="xdx_907_eus-gaap--LineOfCredit_iI_c20230131__us-gaap--AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis__custom--SantanderBankMember__us-gaap--AwardDateAxis__custom--JanuaryTwoThousandTwentyFourMember_z10q7Rxpo9Wc" title="Letters of credit issued amount">65,000</span> will be released in January 2024, which is 12 months after the buoy is fully deployed.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_eus-gaap--ScheduleOfRestrictedCashAndCashEquivalentsTextBlock_z7BJ8buoyG54" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets that total to the same amounts shown in the Consolidated Statements of Cash Flows.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8B9_zsTyOejGgXSi" style="display: none">Schedule of Cash and Cash Equivalents and Restricted Cash</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20230131_zW2AXhR05v3f" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">January 31, <br/> 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20220430_zIJQoFOLUsAl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, <br/> 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_40E_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">10,920</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">7,885</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--RestrictedCashCurrent_iI_pn3n3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Restricted cash- short term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">65</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">258</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--RestrictedCashNoncurrent_iI_pn3n3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Restricted cash- long term</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">154</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">219</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_iI_pn3n3" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash, cash equivalents, restricted cash and restricted cash equivalents</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">11,139</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,362</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A7_zj30fg5f6QE6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Short term investments</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During fiscal 2022, the Company acquired investment securities through Charles Schwab Bank. As of January 31, 2023 and April 30, 2022, their carrying value was approximately $<span id="xdx_909_eus-gaap--ShortTermInvestments_iI_pn5n6_c20230131_zVwgiU0pCqw5">30.0</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million and $<span id="xdx_904_eus-gaap--ShortTermInvestments_iI_pn5n6_c20220430_zOE35LKymX5h" title="Investment securities">49.4 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million, respectively. All short term investments consist of corporate bonds, government agency bonds, or U.S. Treasury Notes and Bonds, are investment grade rated or better, and mature within 12 months. The Company has the ability and the intention to hold all investments to maturity, and as such are classified as held-to-maturity investments and carried at amortized cost. The total recognized interest expense on the premium we paid for the securities for the nine month period ended January 31, 2023 and 2022 is approximately $<span id="xdx_905_eus-gaap--InvestmentIncomeNetAmortizationOfDiscountAndPremium_pn5n6_c20220501__20230131_ztkU47zVyZT">0.2 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million and <span id="xdx_90C_eus-gaap--InvestmentIncomeNetAmortizationOfDiscountAndPremium_dc_c20210501__20220131_zs1g9C2Srzx" title="Investment owned at cost">zero</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, respectively. Additionally, there has been no impairment on these investments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89B_eus-gaap--UnrealizedGainLossOnInvestmentsTableTextBlock_zkKJTC7hcLU" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the Company’s short term investments as of January 31, 2023:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BF_zk9ZeuRafLT7" style="display: none">Schedule of Investments and Unrealized Gains/Losses</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Category</td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amortized Cost</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Unrealized<br/> Gains (Losses)</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Market Value</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Corporate Bonds</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20230131__us-gaap--InvestmentTypeAxis__custom--CorporateBondsMember_zSCjlUpeEmji" style="width: 14%; text-align: right" title="Amortized Cost">18,554</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--UnrealizedGainLossOnInvestments_pn3n3_c20220501__20230131__us-gaap--InvestmentTypeAxis__custom--CorporateBondsMember_zfwvliGzhucb" style="width: 14%; text-align: right" title="Unrealized Gains (Losses)">54</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--MoneyMarketFundsAtCarryingValue_iI_pn3n3_c20230131__us-gaap--InvestmentTypeAxis__custom--CorporateBondsMember_zemi0kJflPwj" style="width: 14%; text-align: right" title="Market Value">18,608</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Government Bonds &amp; Notes</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20230131__us-gaap--InvestmentTypeAxis__custom--GovernmentBondsandNotesMember_zWyW2DIaVZGg" style="text-align: right" title="Amortized Cost">8,079</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--UnrealizedGainLossOnInvestments_pn3n3_c20220501__20230131__us-gaap--InvestmentTypeAxis__custom--GovernmentBondsandNotesMember_z0PJixlIWVY8" style="text-align: right" title="Unrealized Gains (Losses)">(22</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--MoneyMarketFundsAtCarryingValue_iI_pn3n3_c20230131__us-gaap--InvestmentTypeAxis__custom--GovernmentBondsandNotesMember_zke64jpsCquc" style="text-align: right" title="Market Value">8,057</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Government Agency</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20230131__us-gaap--InvestmentTypeAxis__custom--GovernmentAgencyMember_zedH1aTroWHk" style="border-bottom: Black 1pt solid; text-align: right" title="Amortized Cost">3,372</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98A_eus-gaap--UnrealizedGainLossOnInvestments_pn3n3_c20220501__20230131__us-gaap--InvestmentTypeAxis__custom--GovernmentAgencyMember_z6eQdzcA7aT5" style="border-bottom: Black 1pt solid; text-align: right" title="Unrealized Gains (Losses)">419</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--MoneyMarketFundsAtCarryingValue_iI_pn3n3_c20230131__us-gaap--InvestmentTypeAxis__custom--GovernmentAgencyMember_zKQ6D3wMu8V9" style="border-bottom: Black 1pt solid; text-align: right" title="Market Value">3,791</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total Short term investments</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20230131_zPd52vyD8Evb" style="border-bottom: Black 2.5pt double; text-align: right" title="Amortized Cost">30,005</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--UnrealizedGainLossOnInvestments_pn3n3_c20220501__20230131_zdQUCcUAknF8" style="border-bottom: Black 2.5pt double; text-align: right" title="Unrealized Gains (Losses)">451</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--MoneyMarketFundsAtCarryingValue_iI_pn3n3_c20230131_zb3pzto8UIxa" style="border-bottom: Black 2.5pt double; text-align: right" title="Market Value">30,456</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AC_zThfjMs5M8o1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> 10900000 7900000 154000 645000 323000 258000 65000 <p id="xdx_898_eus-gaap--ScheduleOfRestrictedCashAndCashEquivalentsTextBlock_z7BJ8buoyG54" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets that total to the same amounts shown in the Consolidated Statements of Cash Flows.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8B9_zsTyOejGgXSi" style="display: none">Schedule of Cash and Cash Equivalents and Restricted Cash</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20230131_zW2AXhR05v3f" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">January 31, <br/> 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20220430_zIJQoFOLUsAl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, <br/> 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_40E_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">10,920</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">7,885</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--RestrictedCashCurrent_iI_pn3n3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Restricted cash- short term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">65</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">258</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--RestrictedCashNoncurrent_iI_pn3n3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Restricted cash- long term</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">154</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">219</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_iI_pn3n3" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash, cash equivalents, restricted cash and restricted cash equivalents</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">11,139</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,362</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 10920000 7885000 65000 258000 154000 219000 11139000 8362000 30000000.0 49400000 200000 0 <p id="xdx_89B_eus-gaap--UnrealizedGainLossOnInvestmentsTableTextBlock_zkKJTC7hcLU" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the Company’s short term investments as of January 31, 2023:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BF_zk9ZeuRafLT7" style="display: none">Schedule of Investments and Unrealized Gains/Losses</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Category</td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amortized Cost</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Unrealized<br/> Gains (Losses)</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Market Value</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Corporate Bonds</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20230131__us-gaap--InvestmentTypeAxis__custom--CorporateBondsMember_zSCjlUpeEmji" style="width: 14%; text-align: right" title="Amortized Cost">18,554</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--UnrealizedGainLossOnInvestments_pn3n3_c20220501__20230131__us-gaap--InvestmentTypeAxis__custom--CorporateBondsMember_zfwvliGzhucb" style="width: 14%; text-align: right" title="Unrealized Gains (Losses)">54</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--MoneyMarketFundsAtCarryingValue_iI_pn3n3_c20230131__us-gaap--InvestmentTypeAxis__custom--CorporateBondsMember_zemi0kJflPwj" style="width: 14%; text-align: right" title="Market Value">18,608</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Government Bonds &amp; Notes</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20230131__us-gaap--InvestmentTypeAxis__custom--GovernmentBondsandNotesMember_zWyW2DIaVZGg" style="text-align: right" title="Amortized Cost">8,079</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--UnrealizedGainLossOnInvestments_pn3n3_c20220501__20230131__us-gaap--InvestmentTypeAxis__custom--GovernmentBondsandNotesMember_z0PJixlIWVY8" style="text-align: right" title="Unrealized Gains (Losses)">(22</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--MoneyMarketFundsAtCarryingValue_iI_pn3n3_c20230131__us-gaap--InvestmentTypeAxis__custom--GovernmentBondsandNotesMember_zke64jpsCquc" style="text-align: right" title="Market Value">8,057</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Government Agency</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20230131__us-gaap--InvestmentTypeAxis__custom--GovernmentAgencyMember_zedH1aTroWHk" style="border-bottom: Black 1pt solid; text-align: right" title="Amortized Cost">3,372</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98A_eus-gaap--UnrealizedGainLossOnInvestments_pn3n3_c20220501__20230131__us-gaap--InvestmentTypeAxis__custom--GovernmentAgencyMember_z6eQdzcA7aT5" style="border-bottom: Black 1pt solid; text-align: right" title="Unrealized Gains (Losses)">419</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--MoneyMarketFundsAtCarryingValue_iI_pn3n3_c20230131__us-gaap--InvestmentTypeAxis__custom--GovernmentAgencyMember_zKQ6D3wMu8V9" style="border-bottom: Black 1pt solid; text-align: right" title="Market Value">3,791</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total Short term investments</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20230131_zPd52vyD8Evb" style="border-bottom: Black 2.5pt double; text-align: right" title="Amortized Cost">30,005</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--UnrealizedGainLossOnInvestments_pn3n3_c20220501__20230131_zdQUCcUAknF8" style="border-bottom: Black 2.5pt double; text-align: right" title="Unrealized Gains (Losses)">451</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--MoneyMarketFundsAtCarryingValue_iI_pn3n3_c20230131_zb3pzto8UIxa" style="border-bottom: Black 2.5pt double; text-align: right" title="Market Value">30,456</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 18554000 54000 18608000 8079000 -22000 8057000 3372000 419000 3791000 30005000 451000 30456000 <p id="xdx_841_eus-gaap--ConcentrationRiskCreditRisk_z41ypVSCkOT4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(d) <span id="xdx_86C_zO3IwgqD9Mqk">Concentration of Credit Risk</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to credit risk consist principally of trade accounts receivable, short term investments and cash equivalents. The Company believes that its credit risk is limited because the Company’s current contracts are with entities with a reliable payment history. The Company invests its excess cash in a money market fund and short term held-to maturity investments and does not believe that it is exposed to any significant risks related to its cash accounts, money market fund, or held-to maturity investments. Cash is also maintained at foreign financial institutions. Cash in foreign financial institutions as of January 31, 2023 was approximately $<span id="xdx_903_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20230131__us-gaap--AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis__custom--ForeignFinancialInstitutionsMember_zfX4R5dHe40d" title="Cash and cash equivalents">14,000</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the nine months ended January 31, 2023 and 2022, the Company had two and four customers whose revenues accounted for at least 10% of the Company’s consolidated revenues, respectively. These revenues accounted for approximately <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220501__20230131__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoAndFourCustomersMember_zDHFSkXu1ts8" title="Concentration risk percentage">28%</span> and <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210501__20220131__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoAndFourCustomersMember_zNb1byje4jkh" title="Concentration risk percentage">58%</span> of the Company’s total revenues for the respective periods. For the three months ended January 31, 2023 and 2022, the Company had five and four customers whose revenues accounted for at least 10% of the Company’s consolidated revenues, respectively. These revenues accounted for approximately <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20221101__20230131__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--FiveAndFourCustomersMember_zIYqEimfoDvb" title="Concentration risk percentage">63%</span> and <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20211101__20220131__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--FiveAndFourCustomersMember_z17Rw3IrMtz6" title="Concentration risk percentage">71%</span> of the Company’s total revenues for the respective periods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 14000 0.28 0.58 0.63 0.71 <p id="xdx_849_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zvNgCeSQ1mu1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(e) <span id="xdx_869_zQcTZgQbI2qj">Share-Based Compensation</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Costs resulting from all share-based payment transactions are recognized in the consolidated financial statements at their fair values. The aggregate share-based compensation expense recorded in the Consolidated Statements of Operations for the nine months ended January 31, 2023 and 2022 was approximately $<span id="xdx_909_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_pn5n6_c20220501__20230131_z1YpYWbH0WS3" title="Share based compensation">0.9</span> million and $<span id="xdx_90D_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_pn5n6_c20210501__20220131_zN8RlS6VRTqi" title="Share based compensation">0.9</span> million, respectively. For the three months ended January 31, 2023 and 2022, share-based compensation expense was $<span id="xdx_90D_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_pn5n6_c20221101__20230131_zEGFcnh7XmEe" title="Share based compensation expense"><span id="xdx_903_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_pn5n6_c20211101__20220131_z6H9ArwAIkSe" title="Share based compensation expense">0.3</span></span> million in each period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 900000 900000 300000 300000 <p id="xdx_840_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_ztmoS27uj886" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(f) <span id="xdx_865_zaoRNoq2tk6f">Revenue Recognition</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for revenues in accordance with Accounting Standards Codification 606 (ASC 606) for contracts with customers and Accounting Standards Codification 842 (ASC 842) for leasing arrangements. In relation to ASC 606, which states that a performance obligation is the unit of account for revenue recognition, the Company assesses the goods or services promised in a contract with a customer and identifies as a performance obligation as either: a) a good or service (or a bundle of goods or services) that is distinct; or b) a series of distinct goods or services that are substantially the same and that have the same pattern of transfer to the customer. A contract may contain a single performance obligation or multiple performance obligations. For contracts with multiple performance obligations, the Company allocates the contracted transaction price to each performance obligation based upon the relative standalone selling price, which represents the price the Company would sell a promised good or service separately to a customer. The Company determines the standalone selling price based upon the facts and circumstances of each obligated good or service. When no observable standalone selling price is available, the standalone selling price is generally estimated based upon the Company’s forecast of the total cost to satisfy the performance obligation plus an appropriate profit margin.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The nature of the Company’s contracts may give rise to several types of variable consideration, including unpriced change orders, liquidated damages and penalties. Variable consideration can also arise from modifications to the scope of services. Variable consideration is included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur once the uncertainty associated with the variable consideration is resolved. Our estimates of variable consideration and determination of whether to include such amounts in the transaction price are based largely on our assessment of legal enforceability, performance, and any other information (historical, current, and forecasted) that is reasonably available to us. There was no variable consideration as of January 31, 2023 or 2022. The Company presents shipping and handling costs, that occur after control of the promised goods or services transfer to the customer, as fulfillment costs in costs of goods sold and regular shipping and handling activities charged to operating expenses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes revenue when or as it satisfies a performance obligation by transferring a good or service to a customer, either (1) at a point in time or (2) over time. A good or service is transferred when or as the customer obtains control. The evaluation of whether control of each performance obligation is transferred at a point in time or over time is made at contract inception. Input measures such as costs incurred are utilized to assess progress against specific contractual performance obligations for the Company’s services. The selection of the method to measure progress towards completion requires judgment and is based on the nature of the services to be provided. For the Company, the input method using costs incurred or labor hours best represents the measure of progress against the performance obligations incorporated within the contractual agreements. If estimated total costs on any contract project a loss, the Company charges the entire estimated loss to operations in the period the loss becomes known. The cumulative effect of revisions to revenue, estimated costs to complete contracts, including penalties, change orders, claims, anticipated losses, and others are recorded in the accounting period in which the events indicating a loss are known and the loss can be reasonably estimated. These loss projects are re-assessed for each subsequent reporting period until the project is complete. Such revisions could occur at any time and the effects may be material.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s contracts are either cost-plus contracts, fixed-price contracts, time and material agreements, lease or service agreements. Under cost plus contracts, customers are billed for actual expenses incurred plus an agreed-upon fee.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has two types of fixed-price contracts, firm fixed-price and cost-sharing. Under firm fixed-price contracts, the Company receives an agreed-upon amount for providing products and services specified in the contract, and a profit or loss is recognized depending on whether actual costs are more or less than the agreed upon amount. Under cost-sharing contracts, the fixed amount agreed upon with the customer is only intended to fund a portion of the costs on a specific project. Under cost sharing contracts, an amount corresponding to the revenue is recorded in cost of revenues, resulting in gross profit on these contracts of zero. The Company’s share of the costs is recorded as product development expense. The Company reports its disaggregation of revenues by contract type since this method best represents the Company’s business. For the nine-month periods ended January 31, 2023 and 2022, all of the Company’s contracts were classified as firm fixed-price.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company at times enters into agreements with government agencies through Small Business Innovation Research (“SBIR”) contract agreements. These are typically fixed-priced agreements where the Company retains ownership of the data and grants the government a license with unlimited rights to use, disclose, reproduce, prepare derivative works and publicly distribute the data.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Time and materials agreements are billed based solely on the cost of time spent working on the contract and the material used.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of January 31, 2023, the Company’s total remaining performance obligations, also referred to as backlog, totaled $<span id="xdx_903_eus-gaap--RevenueRemainingPerformanceObligation_iI_pn5n6_c20230131_zyZCCHrjM62j" title="Revenue remaining performance obligation">2.5</span> million. The Company expects to recognize approximately <span id="xdx_900_ecustom--RevenueRemainingPerformancesObligationPercentage_pid_dp_uPure_c20220501__20230131_ze8PHKc93SL" title="Revenue remaining performance obligation, percentage">85%</span>, or $<span id="xdx_90C_eus-gaap--RevenueRemainingPerformanceObligation_iI_pn5n6_c20230131__srt--RangeAxis__srt--MaximumMember_z8mftFQaNQOb" title="Revenue remaining performance obligation">2.1</span> million, for the remaining performance obligations as revenue over the next twelve months.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company also enters into lease arrangements for its PowerBuoys and Wave Adaptive Modular Vessels (“WAM-V®”) with certain customers. Revenue related to multiple-element arrangements is allocated to lease and non-lease elements based on their relative standalone selling prices or expected cost plus a margin approach. Lease elements generally include a PowerBuoy, WAM-V®, and components, while non-lease elements, which the Company expects to become more prevalent, generally include engineering, monitoring and support services. In the lease arrangement, the customer may be provided an option to extend the lease term or purchase the leased buoy or WAM-V® at some point during and/or at the end of the lease term.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At inception of a contract, the Company classifies leases as either operating or financing in accordance with the authoritative accounting guidance contained within ASC Topic 842, “Leases”. If the direct financing or sales-type classification criteria are met, then the lease is accounted for as a finance lease. All others are treated as operating leases.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_896_eus-gaap--DisaggregationOfRevenueTableTextBlock_zA2tiYnN7Tlc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes revenue from operating lease arrangements generally on a straight-line basis over the lease term, or as agreed upon in-use days are utilized, which is presented in Revenues in the Consolidated Statement of Operations. The below table represents the total revenue recognized under ASC 606 and ASC 842 for the three and nine months ended January 31, 2023 and 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BC_z0ot4Tn432Tj" style="display: none">Schedule of Revenue Recognizes From Operating Lease Arrangements</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended January 31, 2023</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended January 31, 2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 606</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 842</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 606</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 842</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td><td> </td> <td colspan="10" style="text-align: center">(in thousands)</td><td> </td><td style="border-left: Black 1pt solid"> </td> <td colspan="10" style="text-align: center">(in thousands)</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 9%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Revenue</b></span></td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--Revenues_pn3n3_c20221101__20230131__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201409Member_z9ozO0JXNxRg" style="width: 11%; text-align: right" title="Revenue">559</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--Revenues_pn3n3_c20221101__20230131__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zpBs7EEeGkhg" style="width: 11%; text-align: right" title="Revenue">175</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--Revenues_pn3n3_c20221101__20230131_z44Lir6UClF1" style="width: 11%; text-align: right" title="Revenue">734</td><td style="width: 1%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--Revenues_pn3n3_c20211101__20220131__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201409Member_z0f5I9NKnbj8" style="width: 11%; text-align: right" title="Revenue">484</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--Revenues_pn3n3_c20211101__20220131__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zcz2jHnmAYEj" style="width: 11%; text-align: right" title="Revenue"><span style="-sec-ix-hidden: xdx2ixbrl0806">—</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--Revenues_pn3n3_c20211101__20220131_zT0NnT9hWpd6" style="width: 11%; text-align: right" title="Revenue">484</td><td style="width: 1%; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Nine months ended January 31, 2023</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Nine months ended January 31, 2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 606</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 842</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 606</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 842</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td><td> </td> <td colspan="10" style="text-align: center">(in thousands)</td><td> </td><td style="border-left: Black 1pt solid"> </td> <td colspan="10" style="text-align: center">(in thousands)</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 9%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Revenue</b></span></td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--Revenues_pn3n3_c20220501__20230131__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201409Member_z0sgxUh91Jwi" style="width: 11%; text-align: right" title="Revenue">1,562</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--Revenues_pn3n3_c20220501__20230131__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zBwjWBuNJp1i" style="width: 11%; text-align: right" title="Revenue">190</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--Revenues_pn3n3_c20220501__20230131_z7Eto2Vtf8c5" style="width: 11%; text-align: right" title="Revenue">1,752</td><td style="width: 1%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--Revenues_pn3n3_c20210501__20220131__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201409Member_zj1zhiO7E41h" style="width: 11%; text-align: right" title="Revenue">1,003</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--Revenues_pn3n3_c20210501__20220131__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zhGn7SSuuHS7" style="width: 11%; text-align: right" title="Revenue"><span style="-sec-ix-hidden: xdx2ixbrl0818">—</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--Revenues_pn3n3_c20210501__20220131_z1YedLKuH3yj" style="width: 11%; text-align: right" title="Revenue">1,003</td><td style="width: 1%; text-align: left"> </td></tr> </table> <p id="xdx_8A0_zXTTVdX9P51d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> 2500000 0.85 2100000 <p id="xdx_896_eus-gaap--DisaggregationOfRevenueTableTextBlock_zA2tiYnN7Tlc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes revenue from operating lease arrangements generally on a straight-line basis over the lease term, or as agreed upon in-use days are utilized, which is presented in Revenues in the Consolidated Statement of Operations. The below table represents the total revenue recognized under ASC 606 and ASC 842 for the three and nine months ended January 31, 2023 and 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BC_z0ot4Tn432Tj" style="display: none">Schedule of Revenue Recognizes From Operating Lease Arrangements</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended January 31, 2023</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended January 31, 2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 606</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 842</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 606</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 842</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td><td> </td> <td colspan="10" style="text-align: center">(in thousands)</td><td> </td><td style="border-left: Black 1pt solid"> </td> <td colspan="10" style="text-align: center">(in thousands)</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 9%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Revenue</b></span></td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--Revenues_pn3n3_c20221101__20230131__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201409Member_z9ozO0JXNxRg" style="width: 11%; text-align: right" title="Revenue">559</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--Revenues_pn3n3_c20221101__20230131__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zpBs7EEeGkhg" style="width: 11%; text-align: right" title="Revenue">175</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--Revenues_pn3n3_c20221101__20230131_z44Lir6UClF1" style="width: 11%; text-align: right" title="Revenue">734</td><td style="width: 1%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--Revenues_pn3n3_c20211101__20220131__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201409Member_z0f5I9NKnbj8" style="width: 11%; text-align: right" title="Revenue">484</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--Revenues_pn3n3_c20211101__20220131__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zcz2jHnmAYEj" style="width: 11%; text-align: right" title="Revenue"><span style="-sec-ix-hidden: xdx2ixbrl0806">—</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--Revenues_pn3n3_c20211101__20220131_zT0NnT9hWpd6" style="width: 11%; text-align: right" title="Revenue">484</td><td style="width: 1%; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Nine months ended January 31, 2023</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Nine months ended January 31, 2022</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 606</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 842</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 606</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 842</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td><td> </td> <td colspan="10" style="text-align: center">(in thousands)</td><td> </td><td style="border-left: Black 1pt solid"> </td> <td colspan="10" style="text-align: center">(in thousands)</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 9%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Revenue</b></span></td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--Revenues_pn3n3_c20220501__20230131__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201409Member_z0sgxUh91Jwi" style="width: 11%; text-align: right" title="Revenue">1,562</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--Revenues_pn3n3_c20220501__20230131__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zBwjWBuNJp1i" style="width: 11%; text-align: right" title="Revenue">190</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--Revenues_pn3n3_c20220501__20230131_z7Eto2Vtf8c5" style="width: 11%; text-align: right" title="Revenue">1,752</td><td style="width: 1%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--Revenues_pn3n3_c20210501__20220131__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201409Member_zj1zhiO7E41h" style="width: 11%; text-align: right" title="Revenue">1,003</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--Revenues_pn3n3_c20210501__20220131__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zhGn7SSuuHS7" style="width: 11%; text-align: right" title="Revenue"><span style="-sec-ix-hidden: xdx2ixbrl0818">—</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--Revenues_pn3n3_c20210501__20220131_z1YedLKuH3yj" style="width: 11%; text-align: right" title="Revenue">1,003</td><td style="width: 1%; text-align: left"> </td></tr> </table> 559000 175000 734000 484000 484000 1562000 190000 1752000 1003000 1003000 <p id="xdx_84B_ecustom--OtherIncomeEmployeeRetentionCreditPolicyTextBlock_zEr3LpXYXibh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(g) <span><span id="xdx_862_zRcNjTMIWAfi">Other Income – Employee Retention Credit</span></span> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Coronavirus Aid, Relief and Economic Security (“CARES”) Act provided an employee retention credit (“ERC”), which was a refundable tax credit against certain employment taxes of up to $<span id="xdx_90B_ecustom--CretainEmployeeTaxes_iI_c20201231__us-gaap--SubsidiarySaleOfStockAxis__custom--EmployeeRetentionCreditMember_zgGInWc3sNk">5,000 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">per employee for eligible employers. The tax credit was equal to <span id="xdx_90A_eus-gaap--CreditDerivativeLiquidationProceedsPercentage_pid_dp_uPure_c20201229__20201231__us-gaap--SubsidiarySaleOfStockAxis__custom--EmployeeRetentionCreditMember_zjvHYvKtQ0ra">50% </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of qualified wages paid to employees during a quarter, capped at $<span id="xdx_90E_eus-gaap--SalariesAndWages_c20201229__20201231__us-gaap--SubsidiarySaleOfStockAxis__custom--EmployeeRetentionCreditMember_z741fjS4Kkxc">10,000 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of qualified wages per employee through December 31, 2020. Additional relief provisions were passed by the United States government, which extend and slightly expand the qualified wage caps on these credits through December 31, 2021. Based on these additional provisions, the tax credit is now equal to <span id="xdx_90B_eus-gaap--CreditDerivativeLiquidationProceedsPercentage_pid_dp_uPure_c20211229__20211231__us-gaap--SubsidiarySaleOfStockAxis__custom--EmployeeRetentionCreditMember_zg6QMVdhEYkl">70% </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of qualified wages paid to employees during a quarter, and the limit on qualified wages per employee has been increased to $<span id="xdx_90B_eus-gaap--SalariesAndWages_c20211229__20211231__us-gaap--SubsidiarySaleOfStockAxis__custom--EmployeeRetentionCreditMember_zh6S5hme1RZ1">10,000 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of qualified wages per quarter.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the three-month period ended October 31, 2022, the Company determined that it qualified for the tax credit under “CARES” and submitted claims of approximately $<span id="xdx_906_ecustom--ClaimedAmount_iI_c20210430__srt--TitleOfIndividualAxis__custom--CaresErcMember_zh5IvWZyyJB" title="Claime amount">612,000</span> and $<span id="xdx_903_ecustom--ClaimedAmount_iI_c20220430__srt--TitleOfIndividualAxis__custom--CaresErcMember_zOl49CE9mii9" title="Claime amount">590,000</span> for the fiscal years ended April 30, 2021 and 2022, respectively, and recognized approximately $<span id="xdx_90D_eus-gaap--OtherIncome_c20220501__20230131__srt--TitleOfIndividualAxis__custom--CaresErcMember_ze7fJneHFzI6" title="Other income">1,202,000</span> as other income in the statement of operations for the nine-month period ended January 31, 2023. Claimed ERC’s are expected to be settled during the year ended April 30, 2023 and have been recorded within other current assets in the accompanying balance sheet as of January 31, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2022 the Company received approximately $<span id="xdx_903_eus-gaap--RevenueFromRelatedParties_c20221101__20221130__us-gaap--IncomeTaxAuthorityAxis__us-gaap--InternalRevenueServiceIRSMember_zacdyUOq5Vgl" title="Reveune from IRS">205,000</span> from the IRS related to the receivable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 5000 0.50 10000 0.70 10000 612000 590000 1202000 205000 <p id="xdx_845_eus-gaap--EarningsPerSharePolicyTextBlock_zsrQMAj1E2me" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(h) <span id="xdx_86E_zbqDPIjCvCw5">Net Loss per Common Share</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic and diluted net loss per common share for all periods presented is computed by dividing net loss by the weighted average number of shares of common stock and common stock equivalents outstanding during the period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due to the Company’s net losses, potentially dilutive securities, consisting of options to purchase shares of common stock, potential exercises of warrants on common stock and unvested restricted stock issued to employees and non-employee directors, were excluded from the diluted loss per share calculation due to their anti-dilutive effect.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In computing diluted net loss per common share on the Consolidated Statement of Operations, potential exercises of warrants on common stock, options to purchase shares of common stock and non-vested restricted stock issued to employees and non-employee directors, totaling <span id="xdx_903_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20220501__20230131_zoV23W2fbjf1" title="Antidilutive securities earnings per share">8,010,373</span> and <span id="xdx_909_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20210501__20220131_zc2ypRmSINxb" title="Antidilutive securities earnings per share">6,356,123</span> for the nine months ended January 31, 2023 and 2022, respectively, were excluded from each of the computations as the effect would have been anti-dilutive due to the net loss for the periods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 8010373 6356123 <p id="xdx_845_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zCqNFKIX7Lb3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(i) <span id="xdx_864_z4YKjAGNQwV1">Recently Issued Accounting Standards</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-13, “<i>Financial Instruments </i>- <i>Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments.” </i>This amendment replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses on instruments within its scope, including trade receivables. This update is intended to provide financial statement users with more decision-useful information about the expected credit losses. In November 2019, the FASB issued No. 2019-10, <i>Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842)</i>, which deferred the effective date of ASU 2016-13 for Smaller Reporting Companies for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company is currently evaluating the impact the adoption of ASU 2016-13 will have on its consolidated financial statements.</span></p> <p id="xdx_809_ecustom--AccountReceivableContractAssetsAndContractLiabilitiesTextBlock_ztDyCmxkK9lh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(3) <span id="xdx_826_z7VS4zJzBkH3">Account Receivable, Contract Assets and Contract Liabilities</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_899_ecustom--ScheduleOfAccountsReceivableContractAssetsAndContractLiabilitiesTableTextBlock_zUSVuZuRV532" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following provides further details on the balance sheet accounts of accounts receivable, contract assets and contract liabilities from contracts with customers:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BF_zFtbTTQg0NB6" style="display: none">Schedule of Accounts Receivable, Contract Assets and Contract Liabilities</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20230131_zAOvPxaa4fyb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">January 31,<br/> 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20220430_zrRXRDPgj0oc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, <br/> 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_405_eus-gaap--AccountsReceivableNetCurrent_iI_pn3n3_z03oENFaSuHh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Accounts receivable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">706</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">482</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--ContractWithCustomerAssetNetCurrent_iI_pn3n3_zrKYDrnWt4n9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Contract assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">93</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">386</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--ContractWithCustomerLiabilityCurrent_iI_pn3n3_zWnOFl0VxBA" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Contract liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,334</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">129</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8AE_zxvWVWl12v9i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Accounts Receivable</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company grants credit to its customers, generally without collateral, under normal payment terms (typically 30 to 60 days after invoicing). Generally, invoicing occurs after the related services are performed or control of goods have transferred to the customer. Accounts receivable represent an unconditional right to consideration arising from the Company’s performance under contracts with customers. The carrying value of such receivables represents their estimated realizable value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Contract Assets</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Contract assets include unbilled amounts typically resulting from arrangements whereby the right to payment is conditional on completing additional tasks or services for a performance obligation. The decrease in contract assets is primarily a result of services performed relating to MAR projects for which revenue was recognized in prior periods but was billed during the nine months ended January 31, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89F_eus-gaap--ContractWithCustomerAssetAndLiabilityTableTextBlock_gL3CWCAALTTB-FHKS_z0ihMRLV2yif" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Significant changes in the contract assets balances during the period were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span id="xdx_8B2_zJEv7nR8m3dk" style="display: none">Schedule of Significant Changes in Contract assets and Contract Liabilities</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20220501__20230131_zwrz4R1bDgCg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Nine months ended<br/> January 31,<br/> 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: center">(in thousands)</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_408_eus-gaap--ContractWithCustomerAssetNet_iNE_pn3n3_di_zeeS3hbvtEoc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%; text-align: left">Transferred to receivables from contract assets recognized at the beginning of the period</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(1,646</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40B_ecustom--RevenueRecognizedAndNotBilledAsOfEndOfPeriod_pn3n3_zwpRLh7sWjWi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Revenue recognized and not billed as of the end of the period</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,353</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--IncreaseDecreaseInContractWithCustomerAssets_pn3n3_zx4K2yKWAuT2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net change in contract assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(293</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <p id="xdx_8A0_zwbzlyIRdaOa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Contract Liabilities</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Contract liabilities consist of amounts invoiced to customers in excess of revenue recognized. The increase in contract liabilities is primarily due to payments received for the following; $<span id="xdx_90E_eus-gaap--Revenues_pn5n6_c20220501__20230131__srt--ProductOrServiceAxis__custom--GrantRevenueMember_zBhL6qQwVeN3" title="Revenue">1.0</span> million related to future grant revenue and $<span id="xdx_903_eus-gaap--Revenues_pn5n6_c20220501__20230131__srt--ProductOrServiceAxis__custom--SalesRevenueMember_znS1qFoNcar2" title="Revenue">0.4</span> million for future sales revenue during the nine months ended January 31, 2023 for which revenue has not been recognized.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_C05_gL3CWCAALTTB-FHKS_zGBgOfNrAaK8"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <div id="xdx_C01_gL3CWCAALTTB-FHKS_zZW1UjvYnvjb"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Significant changes in the contract liabilities balances during the period are as follows:</span></p> <table cellpadding="0" cellspacing="0" id="xdx_309_134_zmZGCNgRPCXi" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Schedule of Significant Changes in Contract assets and Contract Liabilities (Details)"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20220501__20230131_znrkd9uc5Cnf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Nine months ended<br/> January 31,<br/> 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(in thousands)</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--ContractWithCustomerLiability_iNE_pn3n3_di_zilmo5NxTf9k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%; text-align: left">Revenue recognized that was included in the contract liabilities balance as of the beginning of the period</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(447</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_400_ecustom--PaymentsCollectedForWhichRevenueHasNotBeenRecognized_pn3n3_zOzIPzCMouIf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Payments collected for which revenue has not been recognized</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,652</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--IncreaseDecreaseInContractWithCustomerLiability_pn3n3_zoXqMp9SiRSj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net change in contract liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,205</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> </div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_C0D_gL3CWCAALTTB-FHKS_zcMowA7u0Pk6"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></span> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_899_ecustom--ScheduleOfAccountsReceivableContractAssetsAndContractLiabilitiesTableTextBlock_zUSVuZuRV532" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following provides further details on the balance sheet accounts of accounts receivable, contract assets and contract liabilities from contracts with customers:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BF_zFtbTTQg0NB6" style="display: none">Schedule of Accounts Receivable, Contract Assets and Contract Liabilities</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20230131_zAOvPxaa4fyb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">January 31,<br/> 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20220430_zrRXRDPgj0oc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, <br/> 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_405_eus-gaap--AccountsReceivableNetCurrent_iI_pn3n3_z03oENFaSuHh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Accounts receivable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">706</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">482</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--ContractWithCustomerAssetNetCurrent_iI_pn3n3_zrKYDrnWt4n9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Contract assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">93</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">386</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--ContractWithCustomerLiabilityCurrent_iI_pn3n3_zWnOFl0VxBA" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Contract liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,334</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">129</td><td style="text-align: left"> </td></tr> </table> 706000 482000 93000 386000 1334000 129000 <p id="xdx_89F_eus-gaap--ContractWithCustomerAssetAndLiabilityTableTextBlock_gL3CWCAALTTB-FHKS_z0ihMRLV2yif" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Significant changes in the contract assets balances during the period were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span id="xdx_8B2_zJEv7nR8m3dk" style="display: none">Schedule of Significant Changes in Contract assets and Contract Liabilities</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20220501__20230131_zwrz4R1bDgCg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Nine months ended<br/> January 31,<br/> 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: center">(in thousands)</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_408_eus-gaap--ContractWithCustomerAssetNet_iNE_pn3n3_di_zeeS3hbvtEoc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%; text-align: left">Transferred to receivables from contract assets recognized at the beginning of the period</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(1,646</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40B_ecustom--RevenueRecognizedAndNotBilledAsOfEndOfPeriod_pn3n3_zwpRLh7sWjWi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Revenue recognized and not billed as of the end of the period</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,353</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--IncreaseDecreaseInContractWithCustomerAssets_pn3n3_zx4K2yKWAuT2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net change in contract assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(293</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Significant changes in the contract liabilities balances during the period are as follows:</span></p> <table cellpadding="0" cellspacing="0" id="xdx_309_134_zmZGCNgRPCXi" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Schedule of Significant Changes in Contract assets and Contract Liabilities (Details)"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20220501__20230131_znrkd9uc5Cnf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Nine months ended<br/> January 31,<br/> 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(in thousands)</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--ContractWithCustomerLiability_iNE_pn3n3_di_zilmo5NxTf9k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%; text-align: left">Revenue recognized that was included in the contract liabilities balance as of the beginning of the period</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(447</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_400_ecustom--PaymentsCollectedForWhichRevenueHasNotBeenRecognized_pn3n3_zOzIPzCMouIf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Payments collected for which revenue has not been recognized</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,652</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--IncreaseDecreaseInContractWithCustomerLiability_pn3n3_zoXqMp9SiRSj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net change in contract liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,205</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/> 1646000 1353000 -293000 1000000.0 400000 447000 1652000 1205000 <p id="xdx_804_eus-gaap--InventoryDisclosureTextBlock_zWJlfC06Ml8e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(4) <span id="xdx_820_zNNsZnNEg86c">Inventory</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_899_eus-gaap--ScheduleOfInventoryCurrentTableTextBlock_zOl68nOSZ7lj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company holds inventory related to the production of its WAM-V® and PowerBuoy® products.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8B2_za9rpn0WJYvd" style="display: none">Schedule of Inventory</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20230131_zCfXP3Kf00s5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">January 31, <br/> 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20220430_z8IB65b8UFBk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30,<br/> 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_40A_eus-gaap--InventoryRawMaterials_iI_pn3n3_maINzERb_zKXoigxb8Pyj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Raw Materials</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,191</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">198</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--InventoryWorkInProcess_iI_pn3n3_maINzERb_zIoNadovLJN2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Work in Process</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">245</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">244</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--InventoryNet_iTI_pn3n3_mtINzERb_zJRNIkBQ1NEf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventory, net</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,436</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">442</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A3_ztmC7Fu528sj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/> </p> <p id="xdx_899_eus-gaap--ScheduleOfInventoryCurrentTableTextBlock_zOl68nOSZ7lj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company holds inventory related to the production of its WAM-V® and PowerBuoy® products.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8B2_za9rpn0WJYvd" style="display: none">Schedule of Inventory</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20230131_zCfXP3Kf00s5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">January 31, <br/> 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20220430_z8IB65b8UFBk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30,<br/> 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_40A_eus-gaap--InventoryRawMaterials_iI_pn3n3_maINzERb_zKXoigxb8Pyj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Raw Materials</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,191</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">198</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--InventoryWorkInProcess_iI_pn3n3_maINzERb_zIoNadovLJN2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Work in Process</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">245</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">244</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--InventoryNet_iTI_pn3n3_mtINzERb_zJRNIkBQ1NEf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventory, net</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,436</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">442</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 1191000 198000 245000 244000 1436000 442000 <p id="xdx_801_eus-gaap--OtherCurrentAssetsTextBlock_zAmNvRIAYNSg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(5) <span id="xdx_825_zaLUSKtLds5f">Other Current Assets</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_89C_eus-gaap--ScheduleOfOtherCurrentAssetsTableTextBlock_zb361cBlKQZ3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other current assets consisted of the following at January 31, 2023 and April 30, 2022:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8B3_zzqQc5V5wsL8" style="display: none">Schedule of Other Current Assets</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20230131_zsCm7zaGbPk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">January 31, <br/> 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20220430_zjz6Gmy3Qofh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, <br/> 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_407_eus-gaap--PrepaidInsurance_iI_pn3n3_maOACz300_zGwRVacypLBb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Prepaid insurance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">424</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">182</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--PrepaidSoftwareAndLicenses_pn3n3_maOACz300_zes1xyLASBsl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid software &amp; licenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">135</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">127</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--PrepaidProjectCosts_iI_pn3n3_maOACz300_zn5rffQk0Vkj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid project costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0903">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--PrepaidSalesAndMarketing_pn3n3_maOACz300_zaClJjpGXv4b" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid sales &amp; marketing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">161</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--EmployeeRetentionCreditReceivable_iI_pn3n3_maOACz300_zz2SYSQJBoUl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Employee retention credit receivable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">997</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0909">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--InterestReceivableCurrent_iI_pn3n3_maOACz300_z10PMzfvdCV7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest receivable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">119</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0912">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherReceivablesNetCurrent_iI_pn3n3_maOACz300_zS9OzlperhWl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other receivables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">72</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">24</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherPrepaidExpenseCurrent_iI_pn3n3_maOACz300_zOgaKC8Wacbc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Prepaid expenses- other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">63</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">84</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherAssetsCurrent_iTI_pn3n3_mtOACz300_zi5u0pJlmYQk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Total other current assets</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,997</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">467</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AB_z5s90pVvGhKd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89C_eus-gaap--ScheduleOfOtherCurrentAssetsTableTextBlock_zb361cBlKQZ3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other current assets consisted of the following at January 31, 2023 and April 30, 2022:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8B3_zzqQc5V5wsL8" style="display: none">Schedule of Other Current Assets</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20230131_zsCm7zaGbPk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">January 31, <br/> 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20220430_zjz6Gmy3Qofh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, <br/> 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_407_eus-gaap--PrepaidInsurance_iI_pn3n3_maOACz300_zGwRVacypLBb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Prepaid insurance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">424</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">182</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--PrepaidSoftwareAndLicenses_pn3n3_maOACz300_zes1xyLASBsl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid software &amp; licenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">135</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">127</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--PrepaidProjectCosts_iI_pn3n3_maOACz300_zn5rffQk0Vkj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid project costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0903">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--PrepaidSalesAndMarketing_pn3n3_maOACz300_zaClJjpGXv4b" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid sales &amp; marketing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">161</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--EmployeeRetentionCreditReceivable_iI_pn3n3_maOACz300_zz2SYSQJBoUl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Employee retention credit receivable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">997</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0909">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--InterestReceivableCurrent_iI_pn3n3_maOACz300_z10PMzfvdCV7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest receivable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">119</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0912">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherReceivablesNetCurrent_iI_pn3n3_maOACz300_zS9OzlperhWl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other receivables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">72</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">24</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherPrepaidExpenseCurrent_iI_pn3n3_maOACz300_zOgaKC8Wacbc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Prepaid expenses- other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">63</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">84</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherAssetsCurrent_iTI_pn3n3_mtOACz300_zi5u0pJlmYQk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Total other current assets</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,997</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">467</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 424000 182000 135000 127000 26000 161000 50000 997000 119000 72000 24000 63000 84000 1997000 467000 <p id="xdx_803_eus-gaap--PropertyPlantAndEquipmentDisclosureTextBlock_z1Wp7xC6Trb1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(6) <span id="xdx_82C_zw42JbC4BYfb">Property and Equipment, net</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_894_eus-gaap--PropertyPlantAndEquipmentTextBlock_zOmBhJhAp9t3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The components of property and equipment, net as of January 31, 2023 and April 30, 2022 consisted of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8B0_zAdlY79V8kq1" style="display: none">Schedule of Components of Property and Equipment</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20230131_zgBJTMc42z54" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">January 31, <br/> 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20220430_zrxzeG4O9BZc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, <br/> 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zAGUnzRkNrt2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">869</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">615</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerEquipmentAndSoftwareMember_zBj7a48a8Zf1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Computer equipment &amp; software</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">623</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">571</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OfficeFurnitureAndEquipmentMember_znDnaZGKz5lg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Office furniture &amp; equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">59</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">352</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zid1hPWFXUkg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Leasehold improvements</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">538</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">477</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ConstructionInProgressMember_zFdUi6MRNyIg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Construction in process</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">15</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">15</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_maPPAENzI8F_zbnleD19jNni" style="vertical-align: bottom; background-color: White"> <td><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment, gross</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,104</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,030</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_msPPAENzI8F_zu3kgjykDD62" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,513</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,585</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pn3n3_mtPPAENzI8F_ztrT3ogSHbL4" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment, net</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">591</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">445</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AA_zLHdVqC3dLp5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation expense was approximately $<span id="xdx_90B_eus-gaap--Depreciation_c20220501__20230131_zBVgOEqLkJ84">157,000</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_90D_eus-gaap--Depreciation_c20210501__20220131_z9vY0NWHNio3">104,000</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">for the nine-month periods ended January 31, 2023 and </span>2022, respectively. During the nine months ended January 31, 2023, the Company had approximately $<span id="xdx_901_ecustom--DepreciatedFixedAssetWrittenOff_c20220501__20230131_zg6bFX9ceCB4">229,000 </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of fully depreciated fixed assets that were no longer in use that were written off. During the nine months ended January 31, 2023, the Company purchased approximately $<span id="xdx_90F_eus-gaap--PaymentsToAcquirePropertyPlantAndEquipment_c20220501__20230131__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NewEquipmentMember_zvUkijJUrkl3">302,000 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of new equipment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_894_eus-gaap--PropertyPlantAndEquipmentTextBlock_zOmBhJhAp9t3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The components of property and equipment, net as of January 31, 2023 and April 30, 2022 consisted of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8B0_zAdlY79V8kq1" style="display: none">Schedule of Components of Property and Equipment</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20230131_zgBJTMc42z54" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">January 31, <br/> 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20220430_zrxzeG4O9BZc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, <br/> 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zAGUnzRkNrt2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">869</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">615</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerEquipmentAndSoftwareMember_zBj7a48a8Zf1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Computer equipment &amp; software</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">623</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">571</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OfficeFurnitureAndEquipmentMember_znDnaZGKz5lg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Office furniture &amp; equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">59</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">352</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zid1hPWFXUkg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Leasehold improvements</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">538</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">477</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ConstructionInProgressMember_zFdUi6MRNyIg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Construction in process</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">15</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">15</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_maPPAENzI8F_zbnleD19jNni" style="vertical-align: bottom; background-color: White"> <td><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment, gross</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,104</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,030</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_msPPAENzI8F_zu3kgjykDD62" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,513</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,585</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pn3n3_mtPPAENzI8F_ztrT3ogSHbL4" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment, net</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">591</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">445</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 869000 615000 623000 571000 59000 352000 538000 477000 15000 15000 2104000 2030000 1513000 1585000 591000 445000 157000 104000 229000 302000 <p id="xdx_805_eus-gaap--IntangibleAssetsDisclosureTextBlock_zoHmIHVRfW2l" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(7) <span id="xdx_82B_z4DJoZSveck3">Intangible Assets</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_89F_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_zph4fNXHO1Pe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The components of intangible assets, net as of January 31, 2023 and April 30, 2022 consisted of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BF_z4oD644OtURa" style="display: none">Schedule of Components of Intangible Assets</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20230131_zqZIE4E6P8T7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">January 31, <br/> 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20220430_zR9I5ZQubKob" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30,<br/> 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedPatentsGross_iI_pn3n3_maFLIAGzcoU_zHc2KHMDbJGh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Patents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">2,729</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">2,729</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FiniteLivedTrademarksGross_iI_pn3n3_maFLIAGzcoU_zPsSn6nyQ8s3" style="vertical-align: bottom; background-color: White"> <td>Trademarks</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,769</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,769</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FiniteLivedTradeNamesGross_iI_pn3n3_maFLIAGzcoU_z8fPx9V2yQc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Tradename</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">130</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">130</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FiniteLivedCustomerRelationshipsGross_iI_pn3n3_maFLIAGzcoU_zSzxne5BpBn3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Customer Relationships</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">150</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">150</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FiniteLivedIntangibleAssetsGross_iTI_pn3n3_mtFLIAGzcoU_maFLIANzod8_znqro7wyfL7h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets, gross</span></td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,778</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,778</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_msFLIANzod8_zRdf5BAJfAB2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Accumulated amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,761</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,642</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pn3n3_mtFLIANzod8_zWxJPZK9hP5k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets, net</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,017</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,136</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A0_z5vqExaGIj4g" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortization expense was approximately $<span id="xdx_903_eus-gaap--AmortizationOfIntangibleAssets_c20220501__20230131_z1cC4yZFULKb" title="Amortization expense">119,000</span> and $<span id="xdx_90D_eus-gaap--AmortizationOfIntangibleAssets_c20210501__20220131_zWGKdKl2psI2" title="Amortization expense">18,000</span> for the nine-month periods ended January 31, 2023 and 2022, respectively. Amortization expense was approximately $<span id="xdx_90C_eus-gaap--AmortizationOfIntangibleAssets_c20221101__20230131_zTblO0qz82I8" title="Amortization expense">40,000</span> and $<span id="xdx_908_eus-gaap--AmortizationOfIntangibleAssets_c20211101__20220131_zENSwDfliqna" title="Amortization expense">6,000</span> for the three-month periods ended January 31, 2023 and 2022, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89F_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_zph4fNXHO1Pe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The components of intangible assets, net as of January 31, 2023 and April 30, 2022 consisted of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8BF_z4oD644OtURa" style="display: none">Schedule of Components of Intangible Assets</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20230131_zqZIE4E6P8T7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">January 31, <br/> 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20220430_zR9I5ZQubKob" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30,<br/> 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedPatentsGross_iI_pn3n3_maFLIAGzcoU_zHc2KHMDbJGh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Patents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">2,729</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">2,729</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FiniteLivedTrademarksGross_iI_pn3n3_maFLIAGzcoU_zPsSn6nyQ8s3" style="vertical-align: bottom; background-color: White"> <td>Trademarks</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,769</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,769</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FiniteLivedTradeNamesGross_iI_pn3n3_maFLIAGzcoU_z8fPx9V2yQc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Tradename</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">130</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">130</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FiniteLivedCustomerRelationshipsGross_iI_pn3n3_maFLIAGzcoU_zSzxne5BpBn3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Customer Relationships</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">150</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">150</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FiniteLivedIntangibleAssetsGross_iTI_pn3n3_mtFLIAGzcoU_maFLIANzod8_znqro7wyfL7h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets, gross</span></td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,778</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,778</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_msFLIANzod8_zRdf5BAJfAB2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Accumulated amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,761</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,642</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pn3n3_mtFLIANzod8_zWxJPZK9hP5k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets, net</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,017</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,136</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 2729000 2729000 2769000 2769000 130000 130000 150000 150000 5778000 5778000 1761000 1642000 4017000 4136000 119000 18000 40000 6000 <p id="xdx_800_eus-gaap--GoodwillDisclosureTextBlock_z99OdTkWHPhb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(8) <span id="xdx_824_zJtE7ZT1KXT5">Goodwill</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill in the amount of $<span id="xdx_90C_eus-gaap--Goodwill_iI_pn5n6_c20211130__dei--LegalEntityAxis__custom--MarineAdvancedRoboticsIncMember_zUZzYLLgUvCc" title="Goodwill">8.5</span> million was recognized in November 2021 related to the acquisition of MAR. There have been <span id="xdx_908_eus-gaap--GoodwillImpairmentLoss_do_c20220501__20230131_zzw5Rf6jhgm3" title="Impairment of goodwill"><span id="xdx_90C_eus-gaap--GoodwillImpairmentLoss_do_c20210501__20220131_zOC3K24qkCl7" title="Impairment of goodwill">no</span></span> additions to or impairment of goodwill during the nine-month period ended January 31, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 8500000 0 0 <p id="xdx_805_eus-gaap--LesseeOperatingLeasesTextBlock_zpMqH5DNtdzf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(9) <span id="xdx_828_zcBKwG4IIfsl">Leases</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Lessee Information</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Right-of-use asset and operating lease liabilities are recognized based on the present value of future minimum lease payments over the lease term at commencement date. When the implicit rate of the lease is not provided or cannot be determined, the Company uses the incremental borrowing rate based on the information available at the effective date to determine the present value of future payments. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise those options. The renewal options have not been included in the lease term as they are not reasonably certain of exercise. The Company’s operating leases consist of leases for office facilities and warehouse space. Lease expense for minimum lease payments is recognized on a straight- line basis over the lease term and consists of interest on the lease liability and the amortization of the right of use asset.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has a lease for its facility located in Monroe Township, New Jersey that is used as warehouse/production space and the Company’s principal offices and corporate headquarters. <span id="xdx_907_eus-gaap--LesseeOperatingLeaseOptionToExtend_c20220501__20230131__srt--StatementGeographicalAxis__custom--MonroeTownshipMember_zWQZlRSIQYGb" title="Lessee, operating lease, option to extend">The lease includes an initial lease term of <span id="xdx_908_eus-gaap--LesseeOperatingLeaseTermOfContract_iI_dc_c20230131__srt--StatementGeographicalAxis__custom--MonroeTownshipMember_z82DOLMTgowk" title="Lessee, operating lease, term of contract">seven years</span> which is set to expire in November of 2024, and contains an option to extend the lease for another five years</span>. The lease is classified as an operating lease and is included in right-of-use assets, right-of-use liabilities current and lease liabilities-long-term on the Company’s Consolidated Balance Sheets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company also signed a new lease located in Houston, Texas for office space for our local employees. The lease term is for <span id="xdx_901_eus-gaap--LesseeOperatingLeaseTermOfContract_iI_dtY_c20230131__srt--StatementGeographicalAxis__custom--HoustonTexasMember_zXSJ70Fq1fqc" title="Lessee, operating lease, term of contract">1</span> year and is set to <span id="xdx_904_eus-gaap--LesseeOperatingLeaseOptionToExtend_c20220501__20230131__srt--StatementGeographicalAxis__custom--HoustonTexasMember_zYffFTHoMHFh" title="Lessee, operating lease, option to extend">expire in January of 2024</span>. ASC 842 allows a company an accounting policy election to recognize lease payments within the Consolidated Statement of Operations on a straight-line basis if the lease term is equal to or less than 12 months and not recognize a right-of use asset and lease liability. The accounting policy election is made on the commencement date of the lease. The Company has chosen this election for the Houston lease and classified it as a short-term lease.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company also has a lease with the University of California Berkeley in Richmond, California that was assumed as part of the MAR acquisition. The lease is currently a month-to-month lease in accordance with the lease agreement. In accordance with ASC 842, since the remaining lease term at the time of the acquisition of MAR was less than 12 months, the lease was not recognized as a right-of-use asset.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsequent to January 31, 2023 (see Note 18) the Company entered into a new lease for facility located in Oakland, California with a commencement date to be determined upon completion of work to be performed by the landlord. The term of the lease is for <span id="xdx_901_eus-gaap--LesseeOperatingLeaseTermOfContract_iI_dtM_c20230331__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zFRN0Z5z32u8" title="Lease commencement date">62</span> months from the commencement date with an option of <span id="xdx_908_eus-gaap--LesseeOperatingLeaseOptionToTerminate_c20230201__20230331__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zT3Qr9o60x49" title="Lease termination description">the Company to terminate the lease after 39 months</span> if certain conditions are met. The rent will be approximately $<span id="xdx_901_eus-gaap--PaymentsForRent_c20230201__20230331__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z4sJFYmG70Uk" title="Rent expense">25,000</span> per month and the facility will be utilized for our MAR business.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The operating lease cash flow payments for the three months ended January 31, 2023 and 2022 were $<span id="xdx_900_eus-gaap--OperatingLeasePayments_pn3d_c20221101__20230131_zrQXgAR2M4il" title="Operating lease cash flow payments">110,000</span> and $<span id="xdx_902_eus-gaap--OperatingLeasePayments_pn3d_c20211101__20220131_z6uKPvrjlz7d" title="Operating lease cash flow payments">111,000</span>, respectively. The operating lease cash flow payments for the nine months ended January 31, 2023 and 2022 were $<span id="xdx_90D_eus-gaap--OperatingLeasePayments_pn3d_c20220501__20230131_zC2hdEmQJWJf" title="Operating lease cash flow payments">326,000</span> and $<span id="xdx_90C_eus-gaap--OperatingLeasePayments_pn3d_c20210501__20220131_z4D4gM4YyRzf" title="Operating lease cash flow payments">315,000</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89B_eus-gaap--LeaseCostTableTextBlock_zJyN1KS315Gc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The components of lease expense in the Consolidated Statement of Operations for the three and nine months ended January 31, 2023 and 2022 were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B1_ztxBLTXjrjm1" style="display: none">Schedule of Operating Lease Costs</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20221101__20230131_ziYBRY3bjQEl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20211101__20220131_zyqMeXVcr6Ql" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20220501__20230131_zVeb6HSODWKc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20210501__20220131_zuVsM8Jj2g4k" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended<br/> January 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Nine months ended <br/> January 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_407_eus-gaap--OperatingLeaseCost_pn3n3_maLCzBwM_zJeCHL3BWh1l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Operating lease cost</td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">92</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">92</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">276</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">276</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--ShortTermLeaseCost_pn3n3_maLCzBwM_zbn4xzTpVqF" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Short-term lease cost</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">12</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">24</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">22</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LeaseCost_iT_pn3n3_mtLCzBwM_zSuGoy2Cl2A3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease cost</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">100</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">104</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">300</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">298</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AE_zaPAGRnZsbZj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_89D_ecustom--ScheduleOfRightofUseAssetsAndLeaseLiabilitiesTableTextBlock_zTeyUqygSakl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Information related to the Company’s right-of use assets and lease liabilities as of January 31, 2023 was as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="margin-top: 0; margin-bottom: 0"><span id="xdx_8B0_z4Z8D7KuTIPi" style="display: none">Schedule of Right-of use Assets and Lease Liabilities</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20230131_zJYEXHjDhYzk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">January 31,<br/> 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(in thousands) </span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-decoration: underline; text-align: left">Operating lease:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3" style="vertical-align: bottom; background-color: White"> <td style="width: 82%; text-align: left; padding-bottom: 2.5pt">Operating right-of-use asset, net</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 14%; text-align: right">522</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pn3n3_maOLLzIil_zUhAn8hCrxlg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Right-of-use liability- current</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">320</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pn3n3_maOLLzIil_zj993Y7hQ7p3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Right-of-use liability- long term</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">282</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiability_iTI_pn3n3_mtOLLzIil_zhrjDGbUkt99" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease liability</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">602</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Weighted average remaining lease term- operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20230131_zJifqP5HxN9d" title="Weighted average remaining lease term- operating leases">1.69</span> years</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Weighted average discount rate- operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20230131_znL0Kh9y5tO8" title="Weighted average discount rate- operating leases">8.5</span></td><td style="text-align: left">%</td></tr> </table> <p id="xdx_8AF_zsuPVh7aZVE5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_89F_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zpEKQjwR3v54" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total remaining lease payments under the Company’s operating leases are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="margin-top: 0; margin-bottom: 0"><span id="xdx_8BF_zbG0WIvpHBA9" style="display: none">Schedule of Future Minimum Lease payments Under Operating Lease</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20230131_zR7tX0gD7mp8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">January 31,<br/> 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(in thousands) </span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_pn3n3_maLOLLPzbOq_zoib3R3JUZy1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%; text-align: left">Remainder of fiscal year 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">106</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maLOLLPzbOq_z6yRHif53RGe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">398</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_maLOLLPzbOq_zDZYS5WteBhb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">184</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_mtLOLLPzbOq_z5Rh9RJVojPd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total future minimum lease payments</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">688</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_z9SMc4T8SYgd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(86</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseLiability_iI_pn3n3" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">602</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AA_zSwTqjY1OUb2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/> </p> The lease includes an initial lease term of seven years which is set to expire in November of 2024, and contains an option to extend the lease for another five years P7Y P1Y expire in January of 2024 P62M the Company to terminate the lease after 39 months 25000 110000 111000 326000 315000 <p id="xdx_89B_eus-gaap--LeaseCostTableTextBlock_zJyN1KS315Gc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The components of lease expense in the Consolidated Statement of Operations for the three and nine months ended January 31, 2023 and 2022 were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B1_ztxBLTXjrjm1" style="display: none">Schedule of Operating Lease Costs</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20221101__20230131_ziYBRY3bjQEl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20211101__20220131_zyqMeXVcr6Ql" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20220501__20230131_zVeb6HSODWKc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20210501__20220131_zuVsM8Jj2g4k" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended<br/> January 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Nine months ended <br/> January 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_407_eus-gaap--OperatingLeaseCost_pn3n3_maLCzBwM_zJeCHL3BWh1l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Operating lease cost</td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">92</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">92</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">276</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">276</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--ShortTermLeaseCost_pn3n3_maLCzBwM_zbn4xzTpVqF" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Short-term lease cost</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">12</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">24</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">22</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LeaseCost_iT_pn3n3_mtLCzBwM_zSuGoy2Cl2A3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease cost</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">100</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">104</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">300</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">298</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 92000 92000 276000 276000 8000 12000 24000 22000 100000 104000 300000 298000 <p id="xdx_89D_ecustom--ScheduleOfRightofUseAssetsAndLeaseLiabilitiesTableTextBlock_zTeyUqygSakl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Information related to the Company’s right-of use assets and lease liabilities as of January 31, 2023 was as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="margin-top: 0; margin-bottom: 0"><span id="xdx_8B0_z4Z8D7KuTIPi" style="display: none">Schedule of Right-of use Assets and Lease Liabilities</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20230131_zJYEXHjDhYzk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">January 31,<br/> 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(in thousands) </span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-decoration: underline; text-align: left">Operating lease:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3" style="vertical-align: bottom; background-color: White"> <td style="width: 82%; text-align: left; padding-bottom: 2.5pt">Operating right-of-use asset, net</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 14%; text-align: right">522</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pn3n3_maOLLzIil_zUhAn8hCrxlg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Right-of-use liability- current</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">320</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pn3n3_maOLLzIil_zj993Y7hQ7p3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Right-of-use liability- long term</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">282</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiability_iTI_pn3n3_mtOLLzIil_zhrjDGbUkt99" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease liability</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">602</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Weighted average remaining lease term- operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20230131_zJifqP5HxN9d" title="Weighted average remaining lease term- operating leases">1.69</span> years</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Weighted average discount rate- operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20230131_znL0Kh9y5tO8" title="Weighted average discount rate- operating leases">8.5</span></td><td style="text-align: left">%</td></tr> </table> 522000 320000 282000 602000 P1Y8M8D 0.085 <p id="xdx_89F_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zpEKQjwR3v54" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total remaining lease payments under the Company’s operating leases are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="margin-top: 0; margin-bottom: 0"><span id="xdx_8BF_zbG0WIvpHBA9" style="display: none">Schedule of Future Minimum Lease payments Under Operating Lease</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20230131_zR7tX0gD7mp8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">January 31,<br/> 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(in thousands) </span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_pn3n3_maLOLLPzbOq_zoib3R3JUZy1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%; text-align: left">Remainder of fiscal year 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">106</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maLOLLPzbOq_z6yRHif53RGe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">398</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_maLOLLPzbOq_zDZYS5WteBhb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">184</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_mtLOLLPzbOq_z5Rh9RJVojPd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total future minimum lease payments</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">688</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_z9SMc4T8SYgd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(86</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseLiability_iI_pn3n3" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">602</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 106000 398000 184000 688000 86000 602000 <p id="xdx_80D_eus-gaap--AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_zeB94g06Djnj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(10) <span id="xdx_829_zdQuV83O7Unf">Accrued Expenses</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_893_eus-gaap--ScheduleOfAccruedLiabilitiesTableTextBlock_zIsTI7MY7nOi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued expenses consisted of the following at January 31, 2023 and April 30, 2022:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B9_zcg9YxRdOxQ5" style="display: none">Schedule of Accrued Expenses</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20230131_zllj1git9p58" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">January 31, <br/> 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20220430_zcJxl8iBCJld" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, <br/> 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: left"> </td><td colspan="5" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(in thousands)</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--ConstructionPayableCurrent_iI_pn3n3_maCzsTG_zNDvrie4Bf69" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Project costs</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">363</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">59</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LossContingencyAccrualCarryingValueCurrent_iI_pn3n3_maCzsTG_z6hmsUsF63ng" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Contract loss reserve</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1072">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">328</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OtherEmployeeRelatedLiabilitiesCurrent_iI_pn3n3_maCzsTG_ztPsfrxGIpkf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Employee incentive payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,037</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">266</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AccruedSalariesCurrent_iI_pn3n3_maCzsTG_z4wK9IKwi1ek" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued salary and benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">60</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AccruedProfessionalFeesCurrent_iI_pn3n3_maCzsTG_zr0Oggr9djp5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Professional fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">55</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">30</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_pn3n3_maCzsTG_zwjenwRbgfI3" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">121</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">134</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AccruedLiabilitiesCurrent_iTI_pn3n3_mtCzsTG_zV1BbWvvfAu5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued expenses total</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,626</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">877</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AD_zoDqiKyyJnsl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/> </p> <p id="xdx_893_eus-gaap--ScheduleOfAccruedLiabilitiesTableTextBlock_zIsTI7MY7nOi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued expenses consisted of the following at January 31, 2023 and April 30, 2022:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B9_zcg9YxRdOxQ5" style="display: none">Schedule of Accrued Expenses</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20230131_zllj1git9p58" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">January 31, <br/> 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20220430_zcJxl8iBCJld" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, <br/> 2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: left"> </td><td colspan="5" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(in thousands)</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--ConstructionPayableCurrent_iI_pn3n3_maCzsTG_zNDvrie4Bf69" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Project costs</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">363</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">59</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LossContingencyAccrualCarryingValueCurrent_iI_pn3n3_maCzsTG_z6hmsUsF63ng" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Contract loss reserve</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1072">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">328</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OtherEmployeeRelatedLiabilitiesCurrent_iI_pn3n3_maCzsTG_ztPsfrxGIpkf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Employee incentive payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,037</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">266</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AccruedSalariesCurrent_iI_pn3n3_maCzsTG_z4wK9IKwi1ek" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued salary and benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">60</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AccruedProfessionalFeesCurrent_iI_pn3n3_maCzsTG_zr0Oggr9djp5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Professional fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">55</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">30</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_pn3n3_maCzsTG_zwjenwRbgfI3" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">121</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">134</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AccruedLiabilitiesCurrent_iTI_pn3n3_mtCzsTG_zV1BbWvvfAu5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued expenses total</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,626</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">877</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 363000 59000 328000 1037000 266000 50000 60000 55000 30000 121000 134000 1626000 877000 <p id="xdx_802_ecustom--WarrantDisclosureTextBlock_z7wxGgF7tGS5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(11) <span id="xdx_822_z5R9Rtsz5Boi">Warrants</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Equity Classified Warrants</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 8, 2019, the Company issued and sold <span id="xdx_90D_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20190407__20190408_zR7gmKomkkXd" title="Number of common stock shares sold">1,542,000</span> shares of common stock, and pre-funded warrants to purchase up to <span id="xdx_904_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20190408__us-gaap--StatementEquityComponentsAxis__custom--PreFundedWarrantsMember_zbLCBcN7uBg5" title="Purchase of warrants">3,385,680</span> shares of common stock. The public offering price for the pre-funded warrants was equal to the public offering price of the common stock, less the $<span id="xdx_907_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20190408__us-gaap--StatementEquityComponentsAxis__custom--PreFundedWarrantsMember_z7KHDMc1XkRg">0.01</span> per share exercise price of each warrant. The pre-funded warrants have no expiration date. As of January 31, 2023, all of the pre-funded warrants had been exercised.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The underwritten public offering also included the issuance of common stock warrants to purchase up to <span id="xdx_902_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20230131__us-gaap--SubsidiarySaleOfStockAxis__custom--UnderwrittenPublicOfferingMember_z7ofjJYow7i5" title="Warrants to purchase common stock exercised">4,927,680</span> shares of common stock that have an exercise price of $<span id="xdx_903_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230131__us-gaap--SubsidiarySaleOfStockAxis__custom--UnderwrittenPublicOfferingMember_zukzv1eax5Jj" title="Exercise price of warrants">3.85</span> per share and expire <span id="xdx_905_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dc_c20230131__us-gaap--SubsidiarySaleOfStockAxis__custom--UnderwrittenPublicOfferingMember_zWo4O4A5gnYf" title="Warrants and rights outstanding, term">five years</span> from the issuance date. As of January 31, 2023, common warrants to purchase <span id="xdx_90C_ecustom--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRightsExercised_iI_pid_c20230131_zDhSo2RGq092" title="Warrants to purchase common stock exercised">732,500</span> shares of the common stock had been exercised.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The pre-funded and common warrants issued in the Company’s April 8, 2019 public offering did not meet the criteria to be classified as a liability award and therefore were treated as an equity award and recorded as a component of shareholders’ equity in the Consolidated Balance Sheets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 1542000 3385680 0.01 4927680 3.85 P5Y 732500 <p id="xdx_80D_eus-gaap--DebtDisclosureTextBlock_zmz9q1RN38I9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(12) <span id="xdx_827_zAcKpxQcbWj">Paycheck Protection Program Loan</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 27, 2020, the U.S. Government passed into law the CARES Act. On May 3, 2020, the Company signed a Paycheck Protection Program (“PPP”) loan with Santander as the lender for $<span id="xdx_90D_eus-gaap--ProceedsFromLoanOriginations1_c20200501__20200503__us-gaap--TypeOfArrangementAxis__custom--PaycheckProtectionProgramMember_ztiZiUepwRG" title="Proceeds from loan originations">890,000</span> in support through the Small Business Association (“SBA”) under the PPP Loan. The PPP Loan was unsecured and evidenced by a note in favor of Santander and governed by a Loan Agreement with Santander. The Company received the proceeds on May 5, 2020.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_ecustom--DebtForgivenessDescription_c20210228__20210228__us-gaap--TypeOfArrangementAxis__custom--PaycheckProtectionProgramMember_zsVOaHdLggS2" title="Debt forgiveness, description">The Company filed its loan forgiveness application at the end of February 2021 asking for <span id="xdx_902_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20210228__us-gaap--TypeOfArrangementAxis__custom--PaycheckProtectionProgramMember_zrhFkE3vYIsg" title="Debt interest rate">100</span>% forgiveness of the loan. In June 2021, the Company was informed that its application was approved, and that the loan was fully forgiven. The Company recognized a gain on forgiveness of PPP loan of approximately $<span id="xdx_909_eus-gaap--RepaymentsOfLongTermDebt_c20220501__20230131__us-gaap--TypeOfArrangementAxis__custom--PaycheckProtectionProgramMember_zVrf8lSuDB72" title="Repayments of long-term debt">890,000</span> during the nine months ended January 31, 2022</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 890000 The Company filed its loan forgiveness application at the end of February 2021 asking for 100% forgiveness of the loan. In June 2021, the Company was informed that its application was approved, and that the loan was fully forgiven. The Company recognized a gain on forgiveness of PPP loan of approximately $890,000 during the nine months ended January 31, 2022 1 890000 <p id="xdx_806_eus-gaap--DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_zTq1PICr0Id" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(13) <span id="xdx_823_zBWn5UxlsAkk">Share-Based Compensation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In 2015, upon approval by the Company’s shareholders, the Company’s 2015 Omnibus Incentive Plan (the “2015 Plan”) became effective. A total of <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_c20151231__us-gaap--PlanNameAxis__custom--TwoThousandAndFifteenOmnibusIncentivePlanMember_zPNCShirm6mf" title="Share-based compensation arrangement shares authorized">1,332,036</span> shares were authorized for issuance under the 2015 Omnibus Incentive Plan, including shares available for awards under the 2006 Stock Incentive Plan remaining at the time that plan terminated, or that were subject to awards under the 2006 Stock Incentive Plan that thereafter terminated by reason of expiration, forfeiture, cancellation or otherwise. If any award under the 2006 Stock Incentive Plan or 2015 Plan expires, is cancelled, terminates unexercised or is forfeited, those shares become again available for grant under the 2015 Plan. The 2015 Plan will terminate ten years after its effective date, in October 2025, but is subject to earlier termination as provided in the 2015 Plan.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At subsequent shareholder meetings, including most recently in January 2023, the shareholders approved an aggregate increase to the 2015 Plan of <span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding_iI_c20230131__us-gaap--PlanNameAxis__custom--TwoThousandAndFifteenOmnibusIncentivePlanMember_zXWRxKryJ6tk" title="Share-based compensation arrangement shares aggregate increase">3,050,000</span> shares resulting in total shares authorized for issuance of <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_c20230131__us-gaap--PlanNameAxis__custom--TwoThousandAndFifteenOmnibusIncentivePlanMember_zwPOHlCLDAR1" title="Share-based compensation arrangement shares authorized">4,382,036</span> as of January 2023. As of January 31, 2023, the Company had approximately <span id="xdx_906_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20230131__us-gaap--PlanNameAxis__custom--TwoThousandAndFifteenOmnibusIncentivePlanMember_zPUwF8ixGBwi" title="Capital shares reserved for future issuance">38,000</span> shares available for future issuance under the 2015 Plan.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 18, 2018, the Company’s Board of Directors adopted the Company’s Employment Inducement Incentive Award Plan (the “2018 Inducement Plan”) pursuant to which the Company reserved <span id="xdx_909_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20180118__us-gaap--PlanNameAxis__custom--TwoThousandAndEighteenInducementPlanMember_zdFx5uLylCBi" title="Capital shares reserved for future issuance">25,000</span> shares of common stock for issuance under the Inducement Plan. In accordance with Rule 711(a) of the NYSE American Company Guide, awards under the Inducement Plan may only be made to individuals not previously employees of the Company (or following such individuals’ bona fide period of non-employment with the Company), as an inducement material to the individuals’ entry into employment with the Company. An award is any right to receive the Company’s common stock pursuant to the 2018 Inducement Plan, consisting of a performance share award, restricted stock award, a restricted stock unit award or a stock payment award. On February 9, 2022, the 2018 Inducement Plan was amended to increase the authorized shares by <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pid_c20220208__us-gaap--PlanNameAxis__custom--TwoThousandAndEighteenInducementPlanMember_zAZBkTQzc2Bk" title="Share-based compensation arrangement shares authorized">250,000</span> to <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pid_c20220209__us-gaap--PlanNameAxis__custom--TwoThousandAndEighteenInducementPlanMember_zskjVcopQTg7" title="Share-based compensation arrangement shares authorized">275,000</span>. As of January 31, 2023, there were approximately <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_pid_c20230131__us-gaap--PlanNameAxis__custom--TwoThousandAndEighteenInducementPlanMember_ztGeM7eYC8uk" title="Available for grant">161,000</span> shares available for grant under the 2018 Inducement Plan. The 2015 Plan and the 2018 Inducement Plan together comprise the “Stock Incentive Plans”.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Stock Options</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company estimates the fair value of each stock option award granted with service-based vesting requirements, using the Black-Scholes option pricing model, assuming no dividends, and using weighted average valuation assumptions. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant commensurate with the expected life of the award. The expected life (estimated period of time outstanding) of the stock options granted was estimated using the “simplified” method as permitted by the SEC’s Staff Accounting Bulletin No. 110, <i>Share-Based Payment.</i> Expected volatility is based on the Company’s historical volatility over the expected life of the stock option granted.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company granted options to acquire <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20221101__20230131__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_znHIggnS97e9" title="Shares underlying options outstanding, granted"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20220501__20230131__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zJnqMNSTKThg" title="Shares underlying options outstanding, granted">601,089</span></span> and <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20210501__20220131__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zPezlr1yULj8" title="Shares underlying options outstanding, granted"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20211101__20220131__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z92fU955kEce" title="Shares underlying options outstanding, granted">793,850</span></span> share of common stock during the three and nine months ended January 31, 2023 and 2022, respectively. The weighted average grant date fair value of the options granted in January 2023 was approximately $<span id="xdx_90B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInValueWeightedAverageGrantDateFairValue_c20211101__20220131__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zjG8LIEql4V5" title="Weighted average grant date fair value of the options granted"><span style="-sec-ix-hidden: xdx2ixbrl1141">376,000.</span></span> The following assumptions were used to value the awards:</span></p> <p id="xdx_893_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zuKe40G5zx8b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BD_ziTECDROtUlk" style="display: none">Schedule of Valuations Assumptions</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Nine months ended<br/> January 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Risk-free interest rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20220501__20230131__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zySgSTA0eDa4" title="Risk-free interest rate">3.5</span></td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20210501__20220131__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zT19ts9Dmkha" title="Risk-free interest rate">1.5</span></td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_c20220501__20230131__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zEMb9B6oXRM" title="Expected dividend yield">0</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_c20210501__20220131__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zC5IfEddMxb8" title="Expected dividend yield">0</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected life (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20220501__20230131__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zqTE6ZBSMLdi" title="Expected life (in years)">5.5</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20210501__20220131__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zTSsED6hYqmb" title="Expected life (in years)">5.6</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20220501__20230131__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zCyAHO24UhAf" title="Expected volatility">109.0</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20210501__20220131__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zPioZpD0VGFh" title="Expected volatility">121.9</span></td><td style="text-align: left">%</td></tr> </table> <p id="xdx_8A5_ztFX2ieyM9d9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_89B_eus-gaap--ScheduleOfShareBasedCompensationActivityTableTextBlock_zd4cO5LDKe7c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of stock options under our Stock Incentive Plans is detailed in the following table.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BC_zC0EyiKAnWDg" style="display: none">Schedule of Stock Option Activity</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Shares </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Underlying</b> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Options </b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Exercise</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Price</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Remaining</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Contractual</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Term</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(In Years)</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 45%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding as of April 30, 2022</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20220501__20230131_zU7xTGmP5jJf" style="width: 14%; text-align: right" title="Shares Underlying Options Outstanding, beginning">1,110,356</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20220501__20230131_zkZNJmV21QJ3" style="width: 14%; text-align: right" title="Weighted Average Exercise Price, Beginning balance">2.34</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20220501__20230131_zsVp0Iszh3s6" title="Weighted Average Remaining Contractual Term (In Years), Beginning">9.2</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Granted</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20220501__20230131_zswxwMWrk3oh" style="text-align: right" title="Shares underlying Options Outstanding, Granted">601,089</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20220501__20230131_zSX8FTdyaRU5" style="text-align: right" title="Weighted Average Exercise Price, Granted">0.68</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercised</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_c20220501__20230131_zQrGPEz9BTR9" style="text-align: right" title="Shares Underlying Options ,Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1173">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20220501__20230131_zHAU8NN0xdDd" style="text-align: right" title="Weighted Average Exercise Price, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1175">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cancelled/forfeited</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_pid_di_c20220501__20230131_zkSecqbyPlSi" style="border-bottom: Black 1pt solid; text-align: right" title="Shares Underlying Options, Cancelled/forfeited">(135,903</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_pid_c20220501__20230131_zC3ZHFMx3RWd" style="text-align: right" title="Weighted Average Exercise Price, Cancelled/forfeited">1.88</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding as of January 31, 2023</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20220501__20230131_zO3LvGAD6bfh" style="border-bottom: Black 2.5pt double; text-align: right" title="Shares Underlying Options, ending">1,575,542</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20220501__20230131_z89b3MaRP7Wc" style="text-align: right" title="Weighted average exercise price, ending balance">1.75</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm_dtY_c20220501__20230131_zbaIpD8MDRHh" title="Weighted Average Remaining Contractual Term (In Years), Ending">9.0</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercisable as of January 31, 2023</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_pid_c20230131_zz4IHZDnVQ44" style="border-bottom: Black 2.5pt double; text-align: right" title="Shares Underlying Options, Exercisable at Ending">540,546</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_pid_c20230131_zBQFG1kY49Yi" style="text-align: right" title="Weighted Average Exercise Price, Exercisable at ending">3.19</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20220501__20230131_zlDP1H00qlKl" title="Weighted Average Remaining Contractual Term (In Years), Exercisable at Ending">7.9</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AC_zJZWr8EBXMrc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of January 31, 2023, the total intrinsic value of outstanding and exercisable options was approximately <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_pp0p0_dc_c20230131__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zGEYCAZ6xiyj" title="Intrinsic value of outstanding and exercisable options">zero</span>. As of January 31, 2023, approximately <span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_iI_pid_c20230131__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zRTtqYtLsq44" title="Options unvested">1,035,000</span> options were unvested, which had an intrinsic value of <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_pp0p0_c20230131__us-gaap--AwardTypeAxis__custom--EmployeeStockOptionOneMember_z591iinVj65f" title="Options, outstanding, intrinsic value">$10,000</span> and a weighted average remaining contractual term of <span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1_dtY_c20220501__20230131__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zrvqyBmVnBw" title="Weighted average remaining contractual term">9.5</span> years. There was approximately $<span id="xdx_905_eus-gaap--AllocatedShareBasedCompensationExpense_pn3d_c20220501__20230131__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zCTaVfseSgw7" title="Share-based payment arrangement, expense">230,000</span> and $<span id="xdx_90B_eus-gaap--AllocatedShareBasedCompensationExpense_pn3d_c20210501__20220131__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zym3Q5nKeoG6" title="Share-based payment arrangement, expense">183,000</span> of total recognized compensation cost related to stock options during each of the nine months ended January 31, 2023 and 2022, respectively. There was approximately $<span id="xdx_90C_eus-gaap--AllocatedShareBasedCompensationExpense_pn3d_c20221101__20230131__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zaM2xDFIli2f" title="Share-based payment arrangement, expense">62,000</span> and $<span id="xdx_907_eus-gaap--AllocatedShareBasedCompensationExpense_pn3d_c20211101__20220131__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zGUq7Yg4LaP8" title="Share-based payment arrangement, expense">68,000</span> of total recognized compensation cost related to stock options during each of the three months ended January 31, 2023 and 2022, respectively. As of January 31, 2023, there was approximately $<span id="xdx_90D_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions_iI_pn5n6_c20230131_zLrG6nv9Y7wj" title="Unrecognized compensation cost related to non-vested stock">0.8</span> million of total unrecognized compensation cost related to non-vested stock options granted under the plans. This cost is expected to be recognized over a weighted-average period of <span id="xdx_901_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20220501__20230131_zoPXBsez8W1g" title="Share-based compensation of weighted-average period">2.4</span> years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Performance Stock Options</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89D_eus-gaap--ScheduleOfShareBasedCompensationActivityTableTextBlock_hus-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_zajny01I5Mgh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of performance stock options under our Stock Incentive Plans is detailed in the following table.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B9_z5BPEUB0uvka" style="display: none">Schedule of Stock Option Activity</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Shares<br/> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Underlying<br/> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Options </b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted</b><br/> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average<br/> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Exercise<br/> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Price</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted<br/> Average<br/> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Remaining<br/> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Contractual<br/> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Term<br/> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(In Years)</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 45%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding as of April 30, 2022</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_zHLSdxub4O74" style="width: 14%; text-align: right" title="Shares Underlying Options Outstanding, beginning">210,122</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_z1nRBFO2PB46" style="width: 14%; text-align: right" title="Weighted Average Exercise Price, Beginning balance">2.20</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20220501__20230131__us-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_zlwYO31kslH3" title="Weighted Average Remaining Contractual Term (In Years), Beginning">8.8</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Granted</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_zReQf7tY8nXi" style="text-align: right" title="Shares underlying Options Outstanding, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1221">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_zq41VoCMidF4" style="text-align: right" title="Weighted Average Exercise Price, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1223">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercised</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_c20220501__20230131__us-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_z1j7oKouod2a" style="text-align: right" title="Shares Underlying Options ,Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1225">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_zhNCvgnCBiUk" style="text-align: right" title="Weighted Average Exercise Price, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1227">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cancelled/forfeited</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_pid_di_c20220501__20230131__us-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_z0oq240u8Vf5" style="border-bottom: Black 1pt solid; text-align: right" title="Shares Underlying Options, Cancelled/forfeited">(8,466</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_zASM0CyGkt6b" style="text-align: right" title="Weighted Average Exercise Price, Cancelled/forfeited">2.93</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding as of January 31, 2023</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_zmh9meCnO64f" style="border-bottom: Black 2.5pt double; text-align: right" title="Shares Underlying Options, ending">201,656</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left">$</td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_zytQ4a5akZxl" style="text-align: right" title="Weighted average exercise price, ending balance">2.17</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm_dtY_c20220501__20230131__us-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_zB4wdNiP63bg" title="Weighted Average Remaining Contractual Term (In Years), Ending">8.1</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercisable as of January 31, 2023</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_pid_c20230131__us-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_zm4Mo9QcDoEh" style="border-bottom: Black 2.5pt double; text-align: right" title="Shares Underlying Options, Exercisable at Ending"><span style="-sec-ix-hidden: xdx2ixbrl1239">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_pid_c20230131__us-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_zLoPFTJSx2Id" style="text-align: right" title="Weighted Average Exercise Price, Exercisable at ending"><span style="-sec-ix-hidden: xdx2ixbrl1241">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AD_zDsdR1NjIXMa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of January 31, 2023, approximately <span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_iI_pid_c20230131__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zzKUjB3GcOhk" title="Options, number of shares unvested">202,000</span> performance stock options were unvested, which had an intrinsic value of <span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_dc_c20230131__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zf8cIkonf412" title="Options, outstanding, intrinsic value">zero</span> and a weighted average remaining contractual term of <span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1_dtY_c20220501__20230131__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_z0yurRFZygY5" title="Weighted average remaining contractual term">8.1</span> years. There was approximately $<span id="xdx_90D_eus-gaap--AllocatedShareBasedCompensationExpense_c20220501__20230131__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zvyQUZ4iafKj" title="Recognized compensation cost">132,000</span> and $<span id="xdx_90D_eus-gaap--AllocatedShareBasedCompensationExpense_c20210501__20220131__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zHObVNajTkZk" title="Recognized compensation cost">123,000</span> of total recognized compensation cost related to performance stock options during the nine months ended January 31, 2023 and 2022, respectively. There was approximately $<span id="xdx_90A_eus-gaap--AllocatedShareBasedCompensationExpense_c20221101__20230131__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zEpuWuoLJK2e" title="Recognized compensation cost">31,000</span> and $<span id="xdx_90A_eus-gaap--AllocatedShareBasedCompensationExpense_c20211101__20220131__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zNo92FMwQwG1" title="Recognized compensation cost">62,000</span> of total recognized compensation cost related to performance stock options during the three months ended January 31, 2023 and 2022, respectively. As of January 31, 2023, there was approximately $<span id="xdx_907_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions_iI_c20230131__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_ziPlvwxLkRk3" title="Unrecognized compensation cost">22,000</span> of total unrecognized compensation cost related to non-vested performance stock options granted under the plans. This cost is expected to be recognized over a weighted-average period of <span id="xdx_90A_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20220501__20230131__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zBXSQfoVwbqg" title="Share-based compensation of weighted average period">0.4</span> years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Restricted Stock Units</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Compensation expense for non-vested restricted stock units is generally recorded based on its market value on the date of grant and recognized ratably over the associated service and performance period. During the nine months ended January 31, 2023 and 2022, the Company granted <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20220501__20230131__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zgcQQeVc2xpb" title="Number of restricted shares, granted">1,608,681</span> and <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20210501__20220131__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zukyRkf7xISj" title="Number of restricted shares, granted">777,764</span> shares, respectively, that were subject to both service-based and market-based vesting requirements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_894_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_zIOxxTqg0NDd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of non-vested restricted stock units under our Stock Incentive Plans is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B7_zJnBUT4qE7t3" style="display: none">Schedule of Non-vested Restricted Stock Activity</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Number<br/> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>of Shares</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted<br/> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average Price <br/> per Share</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Unvested at April 30, 2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zgnKSmgPf6T1" style="width: 14%; text-align: right" title="Number of Shares, Unvested, Beginning">827,764</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zlAp5zQXHnUc" style="width: 14%; text-align: right" title="Weighted Average Price per Share, Unvested, Beginning">1.41</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zPrS3annYos6" style="text-align: right" title="Number of Shares, Unvested, Granted">1,608,681</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_z1j5zZGncual" style="text-align: right" title="Weighted Average Price per Share, Unvested, Granted">0.77</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vested and issued</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pid_di_c20220501__20230131__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zeO3zgQBqwH6" style="text-align: right" title="Number of Shares, Unvested, Vested and issued">(349,429</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zF8nW5I9LPd8" style="text-align: right" title="Weighted Average Price per Share, Unvested, Vested">1.40</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Cancelled/forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pid_di_c20220501__20230131__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_ziNswUjwfBoi" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Shares, Cancelled/forfeited">(49,021</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Unvested at January 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zQdBpkUo7bl3" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Shares, Unvested, Ending">2,037,995</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zgy79WkVByk6" style="padding-bottom: 2.5pt; text-align: right" title="Weighted Average Price per Share, Unvested, Ending">0.91</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AF_zATQIIV74qB4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There was approximately $<span id="xdx_908_eus-gaap--AllocatedShareBasedCompensationExpense_pp0p0_c20220501__20230131__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zxfm4RZwOK9h" title="Share-based payment arrangement, expense">549,000</span> and $<span id="xdx_90A_eus-gaap--AllocatedShareBasedCompensationExpense_pp0p0_c20210501__20220131__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_z860ZBRrfxT7" title="Share-based payment arrangement, expense">43,000</span> of total recognized compensation cost related to restricted stock units for the nine months ended January 31, 2023 and 2022, respectively. There was approximately $<span id="xdx_904_eus-gaap--AllocatedShareBasedCompensationExpense_pp0p0_c20221101__20230131__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zlQt8kJfmKgb" title="Share-based payment arrangement, expense">185,000</span> and $<span id="xdx_903_eus-gaap--AllocatedShareBasedCompensationExpense_pp0p0_c20211101__20220131__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zGoijBjo6Jzl" title="Share-based payment arrangement, expense">14,000</span> of total recognized compensation cost related to restricted stock units for the three months ended January 31, 2023 and 2022, respectively. As of January 31, 2023, there was approximately $<span id="xdx_908_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions_iI_c20230131__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zNw9FeShQRkb" title="Unrecognized compensation cost">1,576,000</span> of unrecognized compensation cost remaining related to unvested restricted stock units granted under our plans. This cost is expected to be recognized over a weighted-average period of <span id="xdx_904_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20220501__20230131__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zK0adjp4jqyg" title="Share-based compensation of weighted-average period">1.6</span> years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 1332036 3050000 4382036 38000 25000 250000 275000 161000 601089 601089 793850 793850 <p id="xdx_893_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zuKe40G5zx8b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BD_ziTECDROtUlk" style="display: none">Schedule of Valuations Assumptions</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Nine months ended<br/> January 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Risk-free interest rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20220501__20230131__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zySgSTA0eDa4" title="Risk-free interest rate">3.5</span></td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20210501__20220131__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zT19ts9Dmkha" title="Risk-free interest rate">1.5</span></td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_c20220501__20230131__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zEMb9B6oXRM" title="Expected dividend yield">0</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_c20210501__20220131__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zC5IfEddMxb8" title="Expected dividend yield">0</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected life (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20220501__20230131__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zqTE6ZBSMLdi" title="Expected life (in years)">5.5</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20210501__20220131__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zTSsED6hYqmb" title="Expected life (in years)">5.6</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20220501__20230131__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zCyAHO24UhAf" title="Expected volatility">109.0</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20210501__20220131__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zPioZpD0VGFh" title="Expected volatility">121.9</span></td><td style="text-align: left">%</td></tr> </table> 0.035 0.015 0 0 P5Y6M P5Y7M6D 1.090 1.219 <p id="xdx_89B_eus-gaap--ScheduleOfShareBasedCompensationActivityTableTextBlock_zd4cO5LDKe7c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of stock options under our Stock Incentive Plans is detailed in the following table.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BC_zC0EyiKAnWDg" style="display: none">Schedule of Stock Option Activity</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Shares </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Underlying</b> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Options </b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Exercise</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Price</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Remaining</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Contractual</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Term</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(In Years)</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 45%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding as of April 30, 2022</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20220501__20230131_zU7xTGmP5jJf" style="width: 14%; text-align: right" title="Shares Underlying Options Outstanding, beginning">1,110,356</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20220501__20230131_zkZNJmV21QJ3" style="width: 14%; text-align: right" title="Weighted Average Exercise Price, Beginning balance">2.34</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20220501__20230131_zsVp0Iszh3s6" title="Weighted Average Remaining Contractual Term (In Years), Beginning">9.2</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Granted</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20220501__20230131_zswxwMWrk3oh" style="text-align: right" title="Shares underlying Options Outstanding, Granted">601,089</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20220501__20230131_zSX8FTdyaRU5" style="text-align: right" title="Weighted Average Exercise Price, Granted">0.68</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercised</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_c20220501__20230131_zQrGPEz9BTR9" style="text-align: right" title="Shares Underlying Options ,Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1173">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20220501__20230131_zHAU8NN0xdDd" style="text-align: right" title="Weighted Average Exercise Price, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1175">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cancelled/forfeited</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_pid_di_c20220501__20230131_zkSecqbyPlSi" style="border-bottom: Black 1pt solid; text-align: right" title="Shares Underlying Options, Cancelled/forfeited">(135,903</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_pid_c20220501__20230131_zC3ZHFMx3RWd" style="text-align: right" title="Weighted Average Exercise Price, Cancelled/forfeited">1.88</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding as of January 31, 2023</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20220501__20230131_zO3LvGAD6bfh" style="border-bottom: Black 2.5pt double; text-align: right" title="Shares Underlying Options, ending">1,575,542</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20220501__20230131_z89b3MaRP7Wc" style="text-align: right" title="Weighted average exercise price, ending balance">1.75</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm_dtY_c20220501__20230131_zbaIpD8MDRHh" title="Weighted Average Remaining Contractual Term (In Years), Ending">9.0</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercisable as of January 31, 2023</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_pid_c20230131_zz4IHZDnVQ44" style="border-bottom: Black 2.5pt double; text-align: right" title="Shares Underlying Options, Exercisable at Ending">540,546</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_pid_c20230131_zBQFG1kY49Yi" style="text-align: right" title="Weighted Average Exercise Price, Exercisable at ending">3.19</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20220501__20230131_zlDP1H00qlKl" title="Weighted Average Remaining Contractual Term (In Years), Exercisable at Ending">7.9</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 1110356 2.34 P9Y2M12D 601089 0.68 135903 1.88 1575542 1.75 P9Y 540546 3.19 P7Y10M24D 0 1035000 10000 P9Y6M 230000 183000 62000 68000 800000 P2Y4M24D <p id="xdx_89D_eus-gaap--ScheduleOfShareBasedCompensationActivityTableTextBlock_hus-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_zajny01I5Mgh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of performance stock options under our Stock Incentive Plans is detailed in the following table.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B9_z5BPEUB0uvka" style="display: none">Schedule of Stock Option Activity</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Shares<br/> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Underlying<br/> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Options </b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted</b><br/> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average<br/> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Exercise<br/> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Price</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted<br/> Average<br/> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Remaining<br/> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Contractual<br/> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Term<br/> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(In Years)</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 45%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding as of April 30, 2022</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_zHLSdxub4O74" style="width: 14%; text-align: right" title="Shares Underlying Options Outstanding, beginning">210,122</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_z1nRBFO2PB46" style="width: 14%; text-align: right" title="Weighted Average Exercise Price, Beginning balance">2.20</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20220501__20230131__us-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_zlwYO31kslH3" title="Weighted Average Remaining Contractual Term (In Years), Beginning">8.8</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Granted</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_zReQf7tY8nXi" style="text-align: right" title="Shares underlying Options Outstanding, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1221">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_zq41VoCMidF4" style="text-align: right" title="Weighted Average Exercise Price, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1223">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercised</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_c20220501__20230131__us-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_z1j7oKouod2a" style="text-align: right" title="Shares Underlying Options ,Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1225">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_zhNCvgnCBiUk" style="text-align: right" title="Weighted Average Exercise Price, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1227">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cancelled/forfeited</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_pid_di_c20220501__20230131__us-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_z0oq240u8Vf5" style="border-bottom: Black 1pt solid; text-align: right" title="Shares Underlying Options, Cancelled/forfeited">(8,466</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_zASM0CyGkt6b" style="text-align: right" title="Weighted Average Exercise Price, Cancelled/forfeited">2.93</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding as of January 31, 2023</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_zmh9meCnO64f" style="border-bottom: Black 2.5pt double; text-align: right" title="Shares Underlying Options, ending">201,656</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left">$</td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_zytQ4a5akZxl" style="text-align: right" title="Weighted average exercise price, ending balance">2.17</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm_dtY_c20220501__20230131__us-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_zB4wdNiP63bg" title="Weighted Average Remaining Contractual Term (In Years), Ending">8.1</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercisable as of January 31, 2023</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_pid_c20230131__us-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_zm4Mo9QcDoEh" style="border-bottom: Black 2.5pt double; text-align: right" title="Shares Underlying Options, Exercisable at Ending"><span style="-sec-ix-hidden: xdx2ixbrl1239">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_pid_c20230131__us-gaap--AwardTypeAxis__custom--PerformanceStockOptionsMember_zLoPFTJSx2Id" style="text-align: right" title="Weighted Average Exercise Price, Exercisable at ending"><span style="-sec-ix-hidden: xdx2ixbrl1241">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 210122 2.20 P8Y9M18D 8466 2.93 201656 2.17 P8Y1M6D 202000 0 P8Y1M6D 132000 123000 31000 62000 22000 P0Y4M24D 1608681 777764 <p id="xdx_894_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_zIOxxTqg0NDd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of non-vested restricted stock units under our Stock Incentive Plans is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B7_zJnBUT4qE7t3" style="display: none">Schedule of Non-vested Restricted Stock Activity</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Number<br/> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>of Shares</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted<br/> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average Price <br/> per Share</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Unvested at April 30, 2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zgnKSmgPf6T1" style="width: 14%; text-align: right" title="Number of Shares, Unvested, Beginning">827,764</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zlAp5zQXHnUc" style="width: 14%; text-align: right" title="Weighted Average Price per Share, Unvested, Beginning">1.41</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zPrS3annYos6" style="text-align: right" title="Number of Shares, Unvested, Granted">1,608,681</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_z1j5zZGncual" style="text-align: right" title="Weighted Average Price per Share, Unvested, Granted">0.77</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vested and issued</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pid_di_c20220501__20230131__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zeO3zgQBqwH6" style="text-align: right" title="Number of Shares, Unvested, Vested and issued">(349,429</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zF8nW5I9LPd8" style="text-align: right" title="Weighted Average Price per Share, Unvested, Vested">1.40</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Cancelled/forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pid_di_c20220501__20230131__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_ziNswUjwfBoi" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Shares, Cancelled/forfeited">(49,021</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Unvested at January 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zQdBpkUo7bl3" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Shares, Unvested, Ending">2,037,995</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20220501__20230131__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zgy79WkVByk6" style="padding-bottom: 2.5pt; text-align: right" title="Weighted Average Price per Share, Unvested, Ending">0.91</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 827764 1.41 1608681 0.77 349429 1.40 49021 2037995 0.91 549000 43000 185000 14000 1576000 P1Y7M6D <p id="xdx_807_eus-gaap--FairValueDisclosuresTextBlock_z32XyK1aIvad" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(14) <span id="xdx_82B_z9SyTMN4cRyd">Fair Value Measurements</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ASC Topic 820, “<i>Fair Value Measurements”</i> states that fair value is an exit price, representing the amount 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. Assets and liabilities that are measured at fair value are reported using a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy maximizes the use of observable input and minimizes the use of unobservable inputs. The following is a description of the three hierarchy levels.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.75in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level</span> 1</td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> Unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.</span></td> </tr><tr style="vertical-align: top; text-align: justify"> <td style="text-align: left"> </td><td style="text-align: justify"> </td></tr> <tr style="vertical-align: top; text-align: justify"> <td style="text-align: left">Level 2</td><td style="text-align: justify">Inputs other than quoted prices in active markets that are observable for the asset or liability, either directly or indirectly.</td></tr> <tr style="vertical-align: top; text-align: justify"> <td style="text-align: left"> </td><td style="text-align: justify"> </td></tr> <tr style="vertical-align: top; text-align: justify"> <td style="text-align: left">Level 3</td><td style="text-align: justify">Inputs that are unobservable for the asset or liability.</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -45pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -45pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -45pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Disclosure of Fair Values</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s financial instruments that are not re-measured at fair value include cash, cash equivalents, restricted cash, accounts receivable, contract assets and liabilities, deposits, accounts payable, and accrued expenses. The Company’s contingent consideration liability represents the only asset or liability classified financial instrument that is measured at fair value on a recurring basis.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The total carrying value of our short term investments approximates fair value due to the short term nature of these investments. As of January 31, 2023 and April 30, 2022, the carrying values were $<span id="xdx_906_eus-gaap--InvestmentsFairValueDisclosure_iI_pn6n6_c20230131_zqYJnaEWs1E9" title="Fair value of investments">30.0</span> million and $<span id="xdx_90E_eus-gaap--InvestmentsFairValueDisclosure_iI_pn5n6_c20220430_zlFrgo9ghIci" title="Fair value of investments">49.4</span> million, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additionally, there is a Level 3 contingent liability related to earnouts as part of the MAR acquisition in the amount of $<span id="xdx_906_eus-gaap--BusinessCombinationContingentConsiderationLiability_iI_pn5n6_c20230131__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zrL7aRp3ToTg" title="Contingent liability MAR acquisition amount">1.7</span> million as of January 31, 2023 as the inputs are currently unobservable to determine this fair value. As of January 31, 2023, the fair value of this contingent liability from the time that MAR was acquired has increased by approximately $<span id="xdx_908_ecustom--IncreaseDecreaseInContingentLiability_pn5n6_c20220501__20230131__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zxm3Lwbxlyk3" title="Decrease in contingent liability">0.1</span> million from $<span id="xdx_907_eus-gaap--ContingentConsiderationClassifiedAsEquityFairValueDisclosure_iI_pn5n6_c20230131__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zDcki8uan7W1" title="Fair value of contingent consideration">1.6</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transfers into or out of any hierarchy level are recognized at the end of the reporting period in which the transfers occurred. There were no transfers between any hierarchy levels during each of the three and nine months ended January 31, 2023 and 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 30000000.0 49400000 1700000 100000 1600000 <p id="xdx_804_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zqWPXBGw6Kvd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(15) <span id="xdx_827_z1i9hBxCLIu9">Commitments and Contingencies</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Spain Income Tax Audit</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company underwent an income tax audit in Spain for the period from 2011 to 2014, when its Spanish branch was closed. On July 30, 2018, the Spanish tax inspector concluded that although there was no tax owed in light of losses reported, the Company’s Spanish branch owed penalties for failure to properly account for the income associated with the funding grant. During the year ended April 30, 2022, the Company received notice from the Spanish Central Economic and Administrative Tribunal (“Spanish Tax Administration”) that it agreed with the inspector and ruled that the Company owes the full amount of the penalty in the amount of €<span id="xdx_905_eus-gaap--IncomeTaxExaminationPenaltiesAndInterestAccrued_iI_uEuro_c20220430__us-gaap--IncomeTaxAuthorityNameAxis__us-gaap--TaxAuthoritySpainMember_z2IFhUaLarA4" title="Income tax penalties">279,870</span> or approximately $<span id="xdx_909_eus-gaap--IncomeTaxExaminationPenaltiesAndInterestAccrued_iI_c20220430__us-gaap--IncomeTaxAuthorityNameAxis__us-gaap--TaxAuthoritySpainMember_zdJFER2bNh3a" title="Income tax penalties">331,000</span>. On January 25, 2021, the Company paid the Spanish Tax Administration €<span id="xdx_90D_eus-gaap--LossContingencyDamagesPaidValue_uEuro_c20210124__20210125__us-gaap--IncomeTaxAuthorityNameAxis__us-gaap--TaxAuthoritySpainMember_zhsXWe3lu128" title="Payment of tax on damages">279,870</span>. Notwithstanding that payment, on April 30, 2022, the Company filed its appeal of the decision of the Central Court to the Spanish National Court.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 279870 331000 279870 <p id="xdx_80B_eus-gaap--IncomeTaxDisclosureTextBlock_zTAagmyf8vwe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(16) <span id="xdx_821_zjGpF1nCssY9">Income Taxes</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Uncertain Tax Positions</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We account for income taxes in accordance with ASC 740 . The guidance requires the Company to recognize in its consolidated financial statements the impact of a tax position if that position is more likely than not to be sustained upon examination, based on the technical merits of the position. </span>The Company has no current or deferred tax due to current and projected losses for the year.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has appealed the results of the income tax audit in Spain for the period from 2011 to 2014, when the Company’s Spanish branch was closed (see Note 15).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At January 31, 2023, the Company had no uncertain tax positions. The Company does not expect any material increase or decrease in its income tax expense or benefit in the next twelve months, related to examinations or uncertain tax positions. Net operating loss and credit carry forwards since inception remain open to examination by taxing authorities and will continue to remain open for a period of time after utilization.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Income Tax Benefit</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has sold New Jersey State net operating losses and research development credits under the New Jersey Economic Development Authority Tax Transfer program which has resulted in $<span id="xdx_90F_eus-gaap--OperatingLossCarryforwards_iI_c20230131__us-gaap--IncomeTaxAuthorityNameAxis__us-gaap--NewJerseyDivisionOfTaxationMember_zc3zytNIypvl" title="Operating loss">278,000</span> and $<span id="xdx_90A_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20220131__us-gaap--IncomeTaxAuthorityNameAxis__us-gaap--NewJerseyDivisionOfTaxationMember_zbWFzrSdNXLh" title="Operating loss">1.0</span> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million of </span> income tax benefit related to the three and nine months ended January 31, 2023 and January 31, 2022, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 278000 1000000.0 <p id="xdx_803_eus-gaap--SegmentReportingDisclosureTextBlock_zT6cLCb8Y6Xi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(17) <span id="xdx_826_zxnXwUvSXeP">Operating Segments and Geographic Information</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s business consists of <span id="xdx_90D_eus-gaap--NumberOfReportableSegments_pid_dc_uSegment_c20220501__20230131_z41gl7pZSs47" title="Number of reportable segments">one</span> reportable segment as the revenues associated with its different business lines are not material enough to justify segment reporting or to make it meaningful to investors, and our chief operating decision maker does not view the Company’s operations on a segment basis. The Company operates worldwide, with its U.S. operations in New Jersey, California and Texas, one operating subsidiary in the UK and one subsidiary which was discontinued during 2022 in Australia. Revenues and expenses are generally attributed to the operating unit that bills the customers. During each of the three and nine months ended January 31, 2023 and 2022, the Company’s primary business operations were in North America.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> 1 <p id="xdx_800_eus-gaap--SubsequentEventsTextBlock_zwv2dRGwDn96" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>(18) <span id="xdx_82B_zXLfdaFqga84">Subsequent Events</span> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company entered into a new lease for facility located in Oakland, California with a commencement date to be determined upon completion of work to be performed by the landlord. The term of the lease is for <span id="xdx_903_eus-gaap--LesseeOperatingLeaseTermOfContract_iI_dtM_c20230331__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zTloFYMKjv1b" title="Lease commencement date">62</span> months from the commencement date with an option of <span id="xdx_90D_eus-gaap--LesseeOperatingLeaseOptionToTerminate_c20230201__20230331__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z2rIaSuOvtlk" title="Lease termination description">the Company to terminate the lease after 39 months</span> if certain conditions are met. The rent will be approximately $<span id="xdx_90A_eus-gaap--PaymentsForRent_c20230201__20230331__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_ziZlODcj8Nha" title="Rent expense">25,000</span> per month and the facility will be utilized for our MAR business.</p> P62M the Company to terminate the lease after 39 months 25000