0001378140 2024-05-01 2024-10-31 0001378140 OPTT:CommonStock0.001ParValueMember 2024-05-01 2024-10-31 0001378140 OPTT:SeriesPreferredStockPurchaseRightsMember 2024-05-01 2024-10-31 0001378140 2024-12-13 0001378140 2024-10-31 0001378140 2024-04-30 0001378140 us-gaap:SeriesAPreferredStockMember 2024-10-31 0001378140 us-gaap:SeriesAPreferredStockMember 2024-04-30 0001378140 2024-08-01 2024-10-31 0001378140 2023-08-01 2023-10-31 0001378140 2023-05-01 2023-10-31 0001378140 us-gaap:CommonStockMember 2024-04-30 0001378140 us-gaap:TreasuryStockCommonMember 2024-04-30 0001378140 us-gaap:AdditionalPaidInCapitalMember 2024-04-30 0001378140 us-gaap:RetainedEarningsMember 2024-04-30 0001378140 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-04-30 0001378140 us-gaap:CommonStockMember 2023-04-30 0001378140 us-gaap:TreasuryStockCommonMember 2023-04-30 0001378140 us-gaap:AdditionalPaidInCapitalMember 2023-04-30 0001378140 us-gaap:RetainedEarningsMember 2023-04-30 0001378140 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-04-30 0001378140 2023-04-30 0001378140 us-gaap:CommonStockMember 2024-07-31 0001378140 us-gaap:TreasuryStockCommonMember 2024-07-31 0001378140 us-gaap:AdditionalPaidInCapitalMember 2024-07-31 0001378140 us-gaap:RetainedEarningsMember 2024-07-31 0001378140 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-07-31 0001378140 2024-07-31 0001378140 us-gaap:CommonStockMember 2023-07-31 0001378140 us-gaap:TreasuryStockCommonMember 2023-07-31 0001378140 us-gaap:AdditionalPaidInCapitalMember 2023-07-31 0001378140 us-gaap:RetainedEarningsMember 2023-07-31 0001378140 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-07-31 0001378140 2023-07-31 0001378140 us-gaap:CommonStockMember 2024-05-01 2024-10-31 0001378140 us-gaap:TreasuryStockCommonMember 2024-05-01 2024-10-31 0001378140 us-gaap:AdditionalPaidInCapitalMember 2024-05-01 2024-10-31 0001378140 us-gaap:RetainedEarningsMember 2024-05-01 2024-10-31 0001378140 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-05-01 2024-10-31 0001378140 us-gaap:CommonStockMember 2023-05-01 2023-10-31 0001378140 us-gaap:TreasuryStockCommonMember 2023-05-01 2023-10-31 0001378140 us-gaap:AdditionalPaidInCapitalMember 2023-05-01 2023-10-31 0001378140 us-gaap:RetainedEarningsMember 2023-05-01 2023-10-31 0001378140 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-05-01 2023-10-31 0001378140 us-gaap:CommonStockMember 2024-08-01 2024-10-31 0001378140 us-gaap:TreasuryStockCommonMember 2024-08-01 2024-10-31 0001378140 us-gaap:AdditionalPaidInCapitalMember 2024-08-01 2024-10-31 0001378140 us-gaap:RetainedEarningsMember 2024-08-01 2024-10-31 0001378140 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-08-01 2024-10-31 0001378140 us-gaap:CommonStockMember 2023-08-01 2023-10-31 0001378140 us-gaap:TreasuryStockCommonMember 2023-08-01 2023-10-31 0001378140 us-gaap:AdditionalPaidInCapitalMember 2023-08-01 2023-10-31 0001378140 us-gaap:RetainedEarningsMember 2023-08-01 2023-10-31 0001378140 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-08-01 2023-10-31 0001378140 us-gaap:CommonStockMember 2024-10-31 0001378140 us-gaap:TreasuryStockCommonMember 2024-10-31 0001378140 us-gaap:AdditionalPaidInCapitalMember 2024-10-31 0001378140 us-gaap:RetainedEarningsMember 2024-10-31 0001378140 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-10-31 0001378140 us-gaap:CommonStockMember 2023-10-31 0001378140 us-gaap:TreasuryStockCommonMember 2023-10-31 0001378140 us-gaap:AdditionalPaidInCapitalMember 2023-10-31 0001378140 us-gaap:RetainedEarningsMember 2023-10-31 0001378140 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-10-31 0001378140 2023-10-31 0001378140 OPTT:TwoThousandTwentyThreeATMFacilityMember 2024-03-21 2024-03-21 0001378140 OPTT:TwoThousandTwentyThreeATMFacilityMember 2024-08-30 2024-08-30 0001378140 OPTT:TwoThousandTwentyThreeATMFacilityMember 2024-09-30 2024-09-30 0001378140 us-gaap:SubsequentEventMember OPTT:TwoThousandTwentyThreeATMFacilityMember 2024-12-31 2024-12-31 0001378140 OPTT:TwoThousandTwentyThreeATMFacilityMember 2024-10-31 2024-10-31 0001378140 us-gaap:SubsequentEventMember OPTT:TwoThousandTwentyThreeATMFacilityMember 2024-11-01 2024-12-13 0001378140 OPTT:FirstRDOPurchaseAgreementMember 2024-09-13 0001378140 OPTT:FirstRDOPurchaseAgreementMember 2024-09-13 2024-09-13 0001378140 OPTT:SecondRDOPurchaseAgreementMember 2024-09-13 2024-09-13 0001378140 OPTT:SantanderBankMember 2024-10-31 0001378140 OPTT:SantanderBankMember OPTT:LetterOneMember OPTT:RestrictedCashAndSecurityAgreementsMember 2020-08-31 0001378140 OPTT:SantanderBankMember OPTT:AugustTwentyTwentyMember OPTT:LetterTwoMember 2020-08-31 0001378140 OPTT:SantanderBankMember OPTT:LetterTwoMember 2023-01-31 0001378140 OPTT:SantanderBankMember OPTT:LetterTwoMember 2024-01-31 0001378140 OPTT:FourCustomersMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2024-05-01 2024-10-31 0001378140 OPTT:ThreeCustomersMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2023-05-01 2023-10-31 0001378140 OPTT:SixCustomersMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2024-08-01 2024-10-31 0001378140 OPTT:FourCustomersMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2023-08-01 2023-10-31 0001378140 us-gaap:TransferredAtPointInTimeMember 2024-05-01 2024-10-31 0001378140 us-gaap:TransferredOverTimeMember 2023-05-01 2023-10-31 0001378140 us-gaap:TransferredAtPointInTimeMember 2024-08-01 2024-10-31 0001378140 us-gaap:TransferredOverTimeMember 2023-08-01 2023-10-31 0001378140 us-gaap:PatentsMember 2024-10-31 0001378140 us-gaap:TradeNamesMember 2024-10-31 0001378140 us-gaap:CustomerRelationshipsMember 2024-10-31 0001378140 srt:MinimumMember us-gaap:EquipmentMember 2024-10-31 0001378140 srt:MaximumMember us-gaap:EquipmentMember 2024-10-31 0001378140 OPTT:ComputerEquipmentAndSoftwareMember 2024-10-31 0001378140 srt:MinimumMember OPTT:OfficeFurnitureAndFixturesMember 2024-10-31 0001378140 srt:MaximumMember OPTT:OfficeFurnitureAndFixturesMember 2024-10-31 0001378140 us-gaap:LeaseholdImprovementsMember 2024-10-31 0001378140 OPTT:LeasedPowerBuoysAssetsMember 2024-10-31 0001378140 OPTT:LeasedAssetsMember 2024-10-31 0001378140 OPTT:WAMVMember OPTT:AccountingStandardsUpdate606Member 2024-05-01 2024-10-31 0001378140 OPTT:WAMVMember us-gaap:AccountingStandardsUpdate201602Member 2024-05-01 2024-10-31 0001378140 OPTT:WAMVMember 2024-05-01 2024-10-31 0001378140 OPTT:WAMVMember OPTT:AccountingStandardsUpdate606Member 2023-05-01 2023-10-31 0001378140 OPTT:WAMVMember us-gaap:AccountingStandardsUpdate201602Member 2023-05-01 2023-10-31 0001378140 OPTT:WAMVMember 2023-05-01 2023-10-31 0001378140 OPTT:BuoyMember OPTT:AccountingStandardsUpdate606Member 2024-05-01 2024-10-31 0001378140 OPTT:BuoyMember us-gaap:AccountingStandardsUpdate201602Member 2024-05-01 2024-10-31 0001378140 OPTT:BuoyMember 2024-05-01 2024-10-31 0001378140 OPTT:BuoyMember OPTT:AccountingStandardsUpdate606Member 2023-05-01 2023-10-31 0001378140 OPTT:BuoyMember us-gaap:AccountingStandardsUpdate201602Member 2023-05-01 2023-10-31 0001378140 OPTT:BuoyMember 2023-05-01 2023-10-31 0001378140 us-gaap:ServiceMember OPTT:AccountingStandardsUpdate606Member 2024-05-01 2024-10-31 0001378140 us-gaap:ServiceMember us-gaap:AccountingStandardsUpdate201602Member 2024-05-01 2024-10-31 0001378140 us-gaap:ServiceMember 2024-05-01 2024-10-31 0001378140 us-gaap:ServiceMember OPTT:AccountingStandardsUpdate606Member 2023-05-01 2023-10-31 0001378140 us-gaap:ServiceMember us-gaap:AccountingStandardsUpdate201602Member 2023-05-01 2023-10-31 0001378140 us-gaap:ServiceMember 2023-05-01 2023-10-31 0001378140 us-gaap:ProductMember OPTT:AccountingStandardsUpdate606Member 2024-05-01 2024-10-31 0001378140 us-gaap:ProductMember us-gaap:AccountingStandardsUpdate201602Member 2024-05-01 2024-10-31 0001378140 us-gaap:ProductMember 2024-05-01 2024-10-31 0001378140 us-gaap:ProductMember OPTT:AccountingStandardsUpdate606Member 2023-05-01 2023-10-31 0001378140 us-gaap:ProductMember us-gaap:AccountingStandardsUpdate201602Member 2023-05-01 2023-10-31 0001378140 us-gaap:ProductMember 2023-05-01 2023-10-31 0001378140 OPTT:NorthAndSouthAmericaMember OPTT:AccountingStandardsUpdate606Member 2024-05-01 2024-10-31 0001378140 OPTT:NorthAndSouthAmericaMember us-gaap:AccountingStandardsUpdate201602Member 2024-05-01 2024-10-31 0001378140 OPTT:NorthAndSouthAmericaMember 2024-05-01 2024-10-31 0001378140 OPTT:NorthAndSouthAmericaMember OPTT:AccountingStandardsUpdate606Member 2023-05-01 2023-10-31 0001378140 OPTT:NorthAndSouthAmericaMember us-gaap:AccountingStandardsUpdate201602Member 2023-05-01 2023-10-31 0001378140 OPTT:NorthAndSouthAmericaMember 2023-05-01 2023-10-31 0001378140 srt:EuropeMember OPTT:AccountingStandardsUpdate606Member 2024-05-01 2024-10-31 0001378140 srt:EuropeMember us-gaap:AccountingStandardsUpdate201602Member 2024-05-01 2024-10-31 0001378140 srt:EuropeMember 2024-05-01 2024-10-31 0001378140 srt:EuropeMember OPTT:AccountingStandardsUpdate606Member 2023-05-01 2023-10-31 0001378140 srt:EuropeMember us-gaap:AccountingStandardsUpdate201602Member 2023-05-01 2023-10-31 0001378140 srt:EuropeMember 2023-05-01 2023-10-31 0001378140 OPTT:AsiaAndAustraliaMember OPTT:AccountingStandardsUpdate606Member 2024-05-01 2024-10-31 0001378140 OPTT:AsiaAndAustraliaMember us-gaap:AccountingStandardsUpdate201602Member 2024-05-01 2024-10-31 0001378140 OPTT:AsiaAndAustraliaMember 2024-05-01 2024-10-31 0001378140 OPTT:AsiaAndAustraliaMember OPTT:AccountingStandardsUpdate606Member 2023-05-01 2023-10-31 0001378140 OPTT:AsiaAndAustraliaMember us-gaap:AccountingStandardsUpdate201602Member 2023-05-01 2023-10-31 0001378140 OPTT:AsiaAndAustraliaMember 2023-05-01 2023-10-31 0001378140 OPTT:RegionMember OPTT:AccountingStandardsUpdate606Member 2024-05-01 2024-10-31 0001378140 OPTT:RegionMember us-gaap:AccountingStandardsUpdate201602Member 2024-05-01 2024-10-31 0001378140 OPTT:RegionMember 2024-05-01 2024-10-31 0001378140 OPTT:RegionMember OPTT:AccountingStandardsUpdate606Member 2023-05-01 2023-10-31 0001378140 OPTT:RegionMember us-gaap:AccountingStandardsUpdate201602Member 2023-05-01 2023-10-31 0001378140 OPTT:RegionMember 2023-05-01 2023-10-31 0001378140 OPTT:WAMVMember OPTT:AccountingStandardsUpdate606Member 2024-08-01 2024-10-31 0001378140 OPTT:WAMVMember us-gaap:AccountingStandardsUpdate201602Member 2024-08-01 2024-10-31 0001378140 OPTT:WAMVMember 2024-08-01 2024-10-31 0001378140 OPTT:WAMVMember OPTT:AccountingStandardsUpdate606Member 2023-08-01 2023-10-31 0001378140 OPTT:WAMVMember us-gaap:AccountingStandardsUpdate201602Member 2023-08-01 2023-10-31 0001378140 OPTT:WAMVMember 2023-08-01 2023-10-31 0001378140 OPTT:BuoyMember OPTT:AccountingStandardsUpdate606Member 2024-08-01 2024-10-31 0001378140 OPTT:BuoyMember us-gaap:AccountingStandardsUpdate201602Member 2024-08-01 2024-10-31 0001378140 OPTT:BuoyMember 2024-08-01 2024-10-31 0001378140 OPTT:BuoyMember OPTT:AccountingStandardsUpdate606Member 2023-08-01 2023-10-31 0001378140 OPTT:BuoyMember us-gaap:AccountingStandardsUpdate201602Member 2023-08-01 2023-10-31 0001378140 OPTT:BuoyMember 2023-08-01 2023-10-31 0001378140 us-gaap:ServiceMember OPTT:AccountingStandardsUpdate606Member 2024-08-01 2024-10-31 0001378140 us-gaap:ServiceMember us-gaap:AccountingStandardsUpdate201602Member 2024-08-01 2024-10-31 0001378140 us-gaap:ServiceMember 2024-08-01 2024-10-31 0001378140 us-gaap:ServiceMember OPTT:AccountingStandardsUpdate606Member 2023-08-01 2023-10-31 0001378140 us-gaap:ServiceMember us-gaap:AccountingStandardsUpdate201602Member 2023-08-01 2023-10-31 0001378140 us-gaap:ServiceMember 2023-08-01 2023-10-31 0001378140 us-gaap:ProductMember OPTT:AccountingStandardsUpdate606Member 2024-08-01 2024-10-31 0001378140 us-gaap:ProductMember us-gaap:AccountingStandardsUpdate201602Member 2024-08-01 2024-10-31 0001378140 us-gaap:ProductMember 2024-08-01 2024-10-31 0001378140 us-gaap:ProductMember OPTT:AccountingStandardsUpdate606Member 2023-08-01 2023-10-31 0001378140 us-gaap:ProductMember us-gaap:AccountingStandardsUpdate201602Member 2023-08-01 2023-10-31 0001378140 us-gaap:ProductMember 2023-08-01 2023-10-31 0001378140 OPTT:NorthAndSouthAmericaMember OPTT:AccountingStandardsUpdate606Member 2024-08-01 2024-10-31 0001378140 OPTT:NorthAndSouthAmericaMember us-gaap:AccountingStandardsUpdate201602Member 2024-08-01 2024-10-31 0001378140 OPTT:NorthAndSouthAmericaMember 2024-08-01 2024-10-31 0001378140 OPTT:NorthAndSouthAmericaMember OPTT:AccountingStandardsUpdate606Member 2023-08-01 2023-10-31 0001378140 OPTT:NorthAndSouthAmericaMember us-gaap:AccountingStandardsUpdate201602Member 2023-08-01 2023-10-31 0001378140 OPTT:NorthAndSouthAmericaMember 2023-08-01 2023-10-31 0001378140 us-gaap:EMEAMember OPTT:AccountingStandardsUpdate606Member 2024-08-01 2024-10-31 0001378140 us-gaap:EMEAMember us-gaap:AccountingStandardsUpdate201602Member 2024-08-01 2024-10-31 0001378140 us-gaap:EMEAMember 2024-08-01 2024-10-31 0001378140 us-gaap:EMEAMember OPTT:AccountingStandardsUpdate606Member 2023-08-01 2023-10-31 0001378140 us-gaap:EMEAMember us-gaap:AccountingStandardsUpdate201602Member 2023-08-01 2023-10-31 0001378140 us-gaap:EMEAMember 2023-08-01 2023-10-31 0001378140 OPTT:AsiaAndAustraliaMember OPTT:AccountingStandardsUpdate606Member 2024-08-01 2024-10-31 0001378140 OPTT:AsiaAndAustraliaMember us-gaap:AccountingStandardsUpdate201602Member 2024-08-01 2024-10-31 0001378140 OPTT:AsiaAndAustraliaMember 2024-08-01 2024-10-31 0001378140 OPTT:AsiaAndAustraliaMember OPTT:AccountingStandardsUpdate606Member 2023-08-01 2023-10-31 0001378140 OPTT:AsiaAndAustraliaMember us-gaap:AccountingStandardsUpdate201602Member 2023-08-01 2023-10-31 0001378140 OPTT:AsiaAndAustraliaMember 2023-08-01 2023-10-31 0001378140 OPTT:RegionMember OPTT:AccountingStandardsUpdate606Member 2024-08-01 2024-10-31 0001378140 OPTT:RegionMember us-gaap:AccountingStandardsUpdate201602Member 2024-08-01 2024-10-31 0001378140 OPTT:RegionMember 2024-08-01 2024-10-31 0001378140 OPTT:RegionMember OPTT:AccountingStandardsUpdate606Member 2023-08-01 2023-10-31 0001378140 OPTT:RegionMember us-gaap:AccountingStandardsUpdate201602Member 2023-08-01 2023-10-31 0001378140 OPTT:RegionMember 2023-08-01 2023-10-31 0001378140 us-gaap:EquipmentMember 2024-10-31 0001378140 us-gaap:EquipmentMember 2024-04-30 0001378140 OPTT:ComputerEquipmentAndSoftwareMember 2024-04-30 0001378140 OPTT:OfficeFurnitureAndEquipmentMember 2024-10-31 0001378140 OPTT:OfficeFurnitureAndEquipmentMember 2024-04-30 0001378140 us-gaap:LeaseholdImprovementsMember 2024-04-30 0001378140 OPTT:LeasedWAMVsMember 2024-10-31 0001378140 OPTT:LeasedWAMVsMember 2024-04-30 0001378140 OPTT:LeasedBuoysMember 2024-10-31 0001378140 OPTT:LeasedBuoysMember 2024-04-30 0001378140 OPTT:MarineAdvancedRoboticsIncMember 2021-11-30 0001378140 OPTT:UnderwrittenPublicOfferingMember 2019-04-30 0001378140 OPTT:TwoThousandAndFifteenOmnibusIncentivePlanMember 2015-12-31 0001378140 OPTT:TwoThousandAndFifteenOmnibusIncentivePlanMember 2024-02-01 2024-02-29 0001378140 OPTT:TwoThousandAndFifteenOmnibusIncentivePlanMember 2024-10-31 0001378140 OPTT:TwoThousandAndEighteenInducementPlanMember 2018-01-18 0001378140 OPTT:TwoThousandAndEighteenInducementPlanMember 2022-02-09 0001378140 OPTT:TwoThousandAndEighteenInducementPlanMember 2022-02-09 2022-02-09 0001378140 us-gaap:EmployeeStockOptionMember 2024-10-31 0001378140 us-gaap:EmployeeStockOptionMember 2024-05-01 2024-10-31 0001378140 us-gaap:EmployeeStockOptionMember 2023-05-01 2023-10-31 0001378140 us-gaap:EmployeeStockOptionMember 2024-08-01 2024-10-31 0001378140 us-gaap:EmployeeStockOptionMember 2023-08-01 2023-10-31 0001378140 us-gaap:PerformanceSharesMember 2023-04-30 0001378140 us-gaap:PerformanceSharesMember 2024-05-01 2024-10-31 0001378140 us-gaap:PerformanceSharesMember 2023-05-01 2023-10-31 0001378140 us-gaap:RestrictedStockMember 2024-05-01 2024-10-31 0001378140 us-gaap:RestrictedStockMember 2023-05-01 2023-10-31 0001378140 us-gaap:RestrictedStockMember 2024-08-01 2024-10-31 0001378140 us-gaap:RestrictedStockMember 2023-08-01 2023-10-31 0001378140 us-gaap:RestrictedStockMember 2024-10-31 0001378140 2022-05-01 2023-04-30 0001378140 OPTT:NonVestedRestrictedStockMember 2024-04-30 0001378140 OPTT:NonVestedRestrictedStockMember 2024-05-01 2024-10-31 0001378140 OPTT:NonVestedRestrictedStockMember 2024-10-31 0001378140 us-gaap:TaxAuthoritySpainMember 2022-04-30 0001378140 us-gaap:TaxAuthoritySpainMember 2021-01-24 2021-01-25 0001378140 2023-06-30 0001378140 2024-09-01 2024-09-30 iso4217:USD shares iso4217:USD shares OPTT:Segment iso4217:EUR OPTT:Integer pure false --04-30 Q2 2025 0001378140 http://fasb.org/us-gaap/2024#UsefulLifeTermOfLeaseMember 10-Q true 2024-10-31 false 001-33417 OCEAN POWER TECHNOLOGIES, INC. DE 22-2535818 28 ENGELHARD DRIVE SUITE B MONROE TOWNSHIP NJ 08831 (609) 730-0400 Common Stock $0.001 par value OPTT NYSEAMER Series A Preferred Stock Purchase Rights true NYSEAMER Yes Yes Non-accelerated Filer true false false 146038719 2092000 3151000 1785000 796000 86000 18000 4774000 4831000 683000 1747000 9420000 10543000 3292000 3443000 3556000 3622000 1987000 2405000 154000 154000 8537000 8537000 26946000 28704000 351000 3366000 400000 1130000 1428000 1787000 1081000 774000 119000 302000 3379000 7359000 203000 203000 1245000 1798000 4827000 9360000 0.001 0.001 5000000 5000000 0 0 0 0 100000 100000 0.001 0.001 200000000 200000000 124683555 61352731 124595538 61264714 125000 61000 88017 88017 369000 369000 338352000 327276000 -315944000 -307579000 -45000 -45000 22119000 19344000 26946000 28704000 2418000 889000 3719000 2161000 1623000 401000 2477000 1010000 795000 488000 1242000 1151000 4710000 7995000 9630000 16100000 -23000 -86000 -3915000 -7484000 -8388000 -14863000 3000 270000 7000 610000 17000 -1000 1000 -1000 1000 -3913000 -7213000 -8365000 -14252000 -3913000 -7213000 -8365000 -14252000 -0.04 -0.04 -0.12 -0.12 -0.09 -0.09 -0.24 -0.24 108396875 108396875 58781505 58781505 95173938 95173938 58752291 58752291 -3913000 -7213000 -8365000 -14252000 -3913000 -7213000 -8365000 -14252000 61352731 61000 -88017 -369000 327276000 -307579000 -45000 19344000 -8365000 -8365000 551000 551000 2864808 3000 627000 630000 10000 39009937 39000 7469000 7508000 21446079 22000 2429000 2451000 124683555 125000 -88017 -369000 338352000 -315944000 -45000 22119000 56304642 56000 -40914 -355000 324393000 -280096000 -45000 43953000 -14252000 -14252000 673000 673000 2403846 3000 1247000 1250000 69666 55604 29000 29000 4074 2000 2000 58833758 59000 -44988 -357000 326342000 -294348000 -45000 31651000 95661806 96000 -88017 -369000 334659000 -312031000 -45000 22310000 -3913000 -3913000 292000 292000 10000 7565670 7000 972000 979000 21446079 22000 2429000 2451000 124683555 125000 -88017 -369000 338352000 -315944000 -45000 22119000 58776654 59000 -44680 -357000 326041000 -287135000 -45000 38563000 -7213000 -7213000 272000 272000 1500 55604 29000 29000 308 58833758 59000 -44988 -357000 326342000 -294348000 -45000 31651000 -8365000 -14252000 456000 172000 1000 -1000 -111000 66000 80000 418000 201000 211000 -86000 551000 673000 989000 -229000 68000 174000 231000 1502000 -1064000 511000 -3015000 802000 -100000 -500000 -359000 -2000 -245000 -201000 -183000 -214000 -10890000 -15495000 20600000 8026000 128000 698000 -128000 11876000 2000 7508000 29000 2451000 9959000 27000 -1059000 -3592000 3305000 7103000 2246000 3511000 630000 1250000 <p id="xdx_805_eus-gaap--BusinessDescriptionAndBasisOfPresentationTextBlock_zAKA3MdURBqh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(1) <span id="xdx_825_zupU1b3wpGQd">Background, Basis of Presentation and Liquidity</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(a) Background</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ocean Power Technologies, Inc. (the “Company”) was founded in 1984 in New Jersey, commenced business operations in 1994 and re-incorporated in Delaware in 2007. The Company provides ocean data collection and reporting, marine power, offshore communications and Maritime Domain Awareness Systems (“MDA” or “MDAS”) products and integrated solutions. The Company’s solutions focus on three major service areas: Data as a Service (“DaaS”), which includes data collected by Wave Adaptive Modular Vessel (WAM-V®) autonomous vehicles and PowerBuoy® product lines; Robotics as a Service (“RaaS”), which provides a lower cost subscription model for customers to access use of WAM-V’s®; and Power as a Service (“PaaS”), which includes PowerBuoy® products. The Company offers products and services to a wide-range of customers, including those in government and offshore energy, oil and gas, construction, wind power and other industries. The Company has been involved in the entire life cycle of product development, from product design through assembly, testing, deployment, maintenance and upgrades, while working closely with partners across the supply chain. The Company’s solutions are based on technologies that enable autonomous, zero or low carbon emitting, and cost-effective data collection, analysis, transportation, cooperation with other assets such as aerial drones, and communication. The Company’s solutions are primarily suited to ocean and other offshore environments, and support generation of actionable intelligence on a standalone basis or working with other data sources. The Company then channels the information it collects, and other communications, through control equipment linked to edge computing and cloud hosting environments. The Company’s goal is to generate most revenue from the sale or lease of products and solutions. The Company expects to continue having net cash outflows until it can generate positive cash flow from the commercialization of products and services.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0.25in; text-align: left; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(b) Basis of Presentation</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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, 2024, as filed with the SEC and elsewhere in subsequent Exchange Act filings, including this Form 10-Q. Certain amounts have been reclassified to conform to current period presentation. This reclassification had no impact on the previously reported net loss or comprehensive loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(c) Going Concern Uncertainty</i></b> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the six months ended October 31, 2024, the Company incurred net losses of approximately $<span id="xdx_902_eus-gaap--NetIncomeLoss_iN_pn5n6_di_c20240501__20241031_zCtJ3ZKAGbYe" title="Net loss">8.4</span> million, and used cash in operations of approximately $<span id="xdx_90B_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_pn5n6_di_c20240501__20241031_zECMO10WQW39" title="Cash in operations">10.9</span> million. Cash used in operations includes cash payments of the earnout payable to the former shareholders of Marine Advanced Robotics Inc. (CA), referred to herein as MAR, of $<span id="xdx_909_eus-gaap--IncreaseDecreaseInOtherOperatingLiabilities_iN_pn3d_di_c20240501__20241031_zomABiFSGAzl" title="Earnout payable">100,000</span> and partial payment of the fiscal 2024 bonus for all employees. In addition, the Company has continued to make investments to support order backlog and future growth.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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, performance of its products, its ability to market and commercialize its products and new products that it may develop, access to capital, technology development, scalability of technology and production, ability to attract and retain key personnel, concentration of customers and suppliers, pending or threatened litigation, and deployment risks and integration of acquisitions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><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; text-align: center"><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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the six months ended October 31, 2024 and through the date of filing of this Form 10-Q, the Company has obtained additional capital financing through our capital raises with certain investors. However, management believes the Company’s current cash, cash equivalents, and restricted cash balances at October 31, 2024 of $<span id="xdx_90A_eus-gaap--CashCashEquivalentsAndShortTermInvestments_iI_pn5n6_c20241031_zal8jpoLsENd" title="Current cash, cash equivalents, and restricted cash">2.2</span> million may not be sufficient to fund its planned expenditures through December 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company’s operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they become due. The accompanying consolidated financial statements have been prepared on a basis which assumes the Company is a going concern and do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from any uncertainty related to the Company’s ability to continue as a going concern. Such adjustments could be material.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the six months ended October 31, 2024, the Company incurred a net loss of approximately $<span id="xdx_902_eus-gaap--NetIncomeLoss_iN_pn5n6_di_c20240501__20241031_zfPcrhO9iS48" title="Net loss">8.4</span> million and used cash in operations of approximately $<span id="xdx_90B_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_pn5n6_di_c20240501__20241031_ziIP74UbSo8g" title="Cash in operations">10.9</span> million. In addition, the Company has continued to make investments to build inventory, support order backlog and future growth.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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, performance of its products, its ability to market and commercialize its products and new products that it may develop, access to capital, technology development, scalability of technology and production, ability to attract and retain key personnel, concentration of customers and suppliers, pending or threatened litigation, and deployment risks and integration of acquisitions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 21, 2024, the Company entered into an At-the-Market Offering Agreement with an aggregate offering price of up to $<span id="xdx_90B_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pn5n6_c20240321__20240321__us-gaap--TypeOfArrangementAxis__custom--TwoThousandTwentyThreeATMFacilityMember_zZ8TbapyF0be" title="Aggregate offering price">7.0</span> million (the “2023 ATM Facility”). On August 30, 2024 the aggregate offering price under the 2023 ATM Facility was increased to approximately $<span id="xdx_905_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pn6n6_c20240830__20240830__us-gaap--TypeOfArrangementAxis__custom--TwoThousandTwentyThreeATMFacilityMember_z6g7qoczurCh" title="Aggregate offering price">16.0</span> million. It was then reduced to approximately $<span id="xdx_90F_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pn5n6_c20240930__20240930__us-gaap--TypeOfArrangementAxis__custom--TwoThousandTwentyThreeATMFacilityMember_z5xRYsHLgZec" title="Aggregate offering price">2.9</span> million in September 2024 and increased again to approximately $<span id="xdx_90D_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pn6n6_c20241231__20241231__us-gaap--TypeOfArrangementAxis__custom--TwoThousandTwentyThreeATMFacilityMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zsRFxkK5IHL6" title="Aggregate offering price">60.0</span> million in December 2024. As of October 31, 2024, the Company had received proceeds of approximately $<span id="xdx_90A_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pn5n6_c20241031__20241031__us-gaap--TypeOfArrangementAxis__custom--TwoThousandTwentyThreeATMFacilityMember_zxrAfd3UkNj5" title="Proceeds from issuance">8.0</span> million under this facility and an additional $<span id="xdx_905_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pn5n6_c20241101__20241213__us-gaap--TypeOfArrangementAxis__custom--TwoThousandTwentyThreeATMFacilityMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zJxdHAbGwdG8" title="Proceeds from issuance">2.0</span> million between October 31, 2024 and December 13, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>First Registered Direct Offering</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 13, 2024, the Company entered into a common stock purchase agreement (the “First RDO Purchase Agreement”) with an institutional accredited investor for the sale (the “First Offering”) by the Company of shares (the “First RDO Shares”) of the Company’s common stock, par value $<span id="xdx_904_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_c20240913__us-gaap--TypeOfArrangementAxis__custom--FirstRDOPurchaseAgreementMember_zfh0nTjLU4Rc">0.001 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">per share (the “Common Stock”), for aggregate gross proceeds of $<span id="xdx_90E_eus-gaap--ProceedsFromIssuanceOfCommonStock_pn5n6_c20240913__20240913__us-gaap--TypeOfArrangementAxis__custom--FirstRDOPurchaseAgreementMember_zghVPQKrF2z1">1.5</span> million </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">before deducting offering expenses payable by the Company. The First RDO Shares were issued upon issuance of a funding notice by the Company to the investor. <span id="xdx_90B_eus-gaap--SaleOfStockDescriptionOfTransaction_c20240913__20240913__us-gaap--TypeOfArrangementAxis__custom--FirstRDOPurchaseAgreementMember_z1rWZKIP2Yr9">The First RDO Shares were issued at a price per share equal to 80% of the lowest traded price of the Common Stock ten days prior to the closing date for the purchase of the shares.</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In addition, the Company has the right, but not the obligation, to sell to this investor up to an additional $<span id="xdx_904_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pn5n6_c20240913__20240913__us-gaap--TypeOfArrangementAxis__custom--FirstRDOPurchaseAgreementMember_zSkVWUuYyRZc">3.5</span> million </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of shares of Common Stock on the same pricing terms.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The First RDO Purchase Agreement contained customary representations, warranties and agreements by the Company and customary conditions for closing. Pursuant to the First RDO Purchase Agreement, the Company also agreed to indemnify the purchaser against certain liabilities, including liabilities under the Securities Act and liabilities arising from breaches of representations and warranties contained therein. The First RDO Purchase Agreement included a waiver to the Tax Benefits Preservation Plan as well as a covenant on the investor to vote their shares of common stock in favor of all Company director nominees and other proxy proposals, but only for so long as the investor owns more than 5% of the outstanding stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company can use the net proceeds from this sale to build additional products and solutions to meet market demand, further advance the development of new products and solutions, engage in corporate development and merger and acquisition activities, for working capital needs, capital expenditures, repayment or refinancing of indebtedness, repurchases and redemptions of securities, and for other general corporate purposes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Second Registered Direct Offering</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 13, 2024, the Company also entered into a common stock purchase agreement (the “Second RDO Purchase Agreement”) with a separate institutional accredited investor for the sale (the “Second Offering”) by the Company of shares (the “Second RDO Shares”) of the Common Stock, for aggregate gross proceeds of $<span id="xdx_902_eus-gaap--ProceedsFromIssuanceOfCommonStock_pn5n6_c20240913__20240913__us-gaap--TypeOfArrangementAxis__custom--SecondRDOPurchaseAgreementMember_zO4GDgpe77Bc" title="Net proceeds from common stock">1.5</span> million, before deducting offering expenses payable by the Company. The Second RDO Shares were issued upon issuance of a funding notice by the Company to the investor. <span id="xdx_90D_eus-gaap--SaleOfStockDescriptionOfTransaction_c20240913__20240913__us-gaap--TypeOfArrangementAxis__custom--SecondRDOPurchaseAgreementMember_zZd4XSOKp5b5" title="Common stock, issuance description">The Second RDO Shares were issued at a price per share equal to 80% of the lowest traded price of the Common Stock five days prior to the closing date for the purchase of the shares. </span>In addition, the Company has the right, but not the obligation, to sell to this investor up to an additional $<span id="xdx_90C_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pn5n6_c20240913__20240913__us-gaap--TypeOfArrangementAxis__custom--SecondRDOPurchaseAgreementMember_zC9tHHUvSBHf" title="Aggregate offering price">2.5</span> million of shares of Common Stock on the same pricing terms.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Second RDO Purchase Agreement contains customary representations, warranties and agreements by the Company and customary conditions to closing. Pursuant to the Second RDO Purchase Agreement, the Company also agreed to indemnify the purchaser against certain liabilities, including liabilities under the Securities Act and liabilities arising from breaches of representations and warranties contained therein. The Second RDO Purchase Agreement included a waiver to the Tax Benefits Preservation Plan as well as a covenant on the investor to vote their shares of common stock in favor of all Company director nominees and other proxy proposals, but only for so long as the investor owns more than 5% of the outstanding stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company used the net proceeds from this sale to build additional products and solutions to meet market demand, further advance the development of new products and solutions, engage in corporate development and merger and acquisition activities, for working capital needs, capital expenditures, repayment or refinancing of indebtedness, repurchases and redemptions of securities, and for other general corporate purposes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> -8400000 -10900000 -100000 2200000 -8400000 -10900000 7000000.0 16000000.0 2900000 60000000.0 8000000.0 2000000.0 0.001 1500000 The First RDO Shares were issued at a price per share equal to 80% of the lowest traded price of the Common Stock ten days prior to the closing date for the purchase of the shares. 3500000 1500000 The Second RDO Shares were issued at a price per share equal to 80% of the lowest traded price of the Common Stock five days prior to the closing date for the purchase of the shares. 2500000 <p id="xdx_80E_eus-gaap--SignificantAccountingPoliciesTextBlock_zz5rNdziRQE1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(2) <span id="xdx_820_zdED0Qvzw8le">Summary of Significant Accounting Policies</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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--ConsolidationPolicyTextBlock_zSHLTxJw12Dl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(a) <span id="xdx_869_zDYLBMgCNcoe">Consolidation</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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, Marine Advanced Robotics Inc. (CA), referred to herein as MAR, 3dent Technologies LLC (3Dent  ), Oregon Wave Energy Partners I LLC (DE), ReedSport OPT WavePark, LLC (OR) and Ocean Power Technologies Ltd. in the United Kingdom. ReedSport OPT WavePark, LLC (OR) and Oregon Wave Energy Partners I, LLC (DE) were dissolved during the first quarter of fiscal 2024. 3dent was sold in November 2023 and the consolidated financial statements for the three and six months ended October 31, 2023 include 3dent’s results of operations for the applicable periods through the date of sale. All significant intercompany balances and transactions have been eliminated in consolidation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_eus-gaap--UseOfEstimates_zkGabPEcEZf4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(b) <span id="xdx_867_zhEfSM66262g">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 several 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 revenue and expenses during the period. Significant items subject to such estimates and assumptions include, among other items, stock-based compensation based on actual and projected revenues, over time revenue recognition, valuation consideration related to business combinations, including contingent consideration based on actual and projected revenues, including discount rates and present values, and other assumptions and estimates used to evaluate the recoverability of long-lived assets, goodwill and other intangible assets. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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_zqLLCyaYfX6k" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(c) <span id="xdx_86C_zvUe3HVcNJr4">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 0pt 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 0pt 0pt 0; text-align: left"><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 0pt 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 0pt 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 an original 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, cash equivalents and restricted cash of approximately $<span id="xdx_90B_eus-gaap--CashCashEquivalentsAndShortTermInvestments_iI_pn5n6_c20241031_zlvnPhLMQLp2">2.2</span> million and $<span id="xdx_900_eus-gaap--CashCashEquivalentsAndShortTermInvestments_iI_pn5n6_c20240430_zJwxTZ2hf8Da">3.3</span> million as of October 31, 2024 and April 30, 2024, respectfully.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><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; text-align: center"><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 0pt 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 0pt 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 0pt 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_908_eus-gaap--Deposits_iI_c20241031__us-gaap--AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis__custom--SantanderBankMember_zw5ulPuIfQ1" 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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the prior years, Santander also issued a letter of credit to subsidiaries of Enel Green Power (“EGP”) pursuant to the Company’s contracts with EGP. A letter of credit was issued in the amount of $<span id="xdx_90A_eus-gaap--LettersOfCreditOutstandingAmount_iI_c20200831__us-gaap--TypeOfArrangementAxis__custom--RestrictedCashAndSecurityAgreementsMember__us-gaap--AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis__custom--SantanderBankMember__us-gaap--ShortTermDebtTypeAxis__custom--LetterOneMember_z33aMX1yCQf6" title="Letters of credit outstanding">645,000</span> and was reduced to $<span id="xdx_90B_eus-gaap--LettersOfCreditOutstandingAmount_iI_c20200831__us-gaap--AwardDateAxis__custom--AugustTwentyTwentyMember__us-gaap--AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis__custom--SantanderBankMember__us-gaap--ShortTermDebtTypeAxis__custom--LetterTwoMember_zw0gPfxjE9na" title="Letters of credit outstanding">323,000</span> in August 2020. The letter of credit was further reduced by an additional $<span id="xdx_90C_ecustom--LettersOfCreditIssuedAmount_iI_c20230131__us-gaap--AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis__custom--SantanderBankMember__us-gaap--ShortTermDebtTypeAxis__custom--LetterTwoMember_zlHZQ7mQSwzl" title="Letters of credit issued amount">258,000</span> in January 2023, when the legacy PB3 PowerBuoy® (“PB3”) and its accompanying systems passed final acceptance testing. The remaining restricted amount of $<span id="xdx_90A_ecustom--LettersOfCreditIssuedAmount_iI_c20240131__us-gaap--AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis__custom--SantanderBankMember__us-gaap--ShortTermDebtTypeAxis__custom--LetterTwoMember_zw5IG894HQf3" title="Letters of credit issued amount">65,000</span> was released in January 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_eus-gaap--ScheduleOfRestrictedCashAndCashEquivalentsTextBlock_zxNhWVBfItsa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BD_zGozZw7p9QN5" style="display: none">Schedule of Cash and Cash Equivalents and Restricted Cash</span></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="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20241031_zoEBjQdzd2uk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 31, 2024</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_20240430_zkgK71fM0wub" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</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--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3_maCCERCzbyj_z9q1KJtsL1Lb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,092</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,151</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RestrictedCashNoncurrent_iI_pn3n3_maCCERCzbyj_zAE1vUJI1nt8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Restricted cash- long term</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">154</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">154</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_iTI_pn3n3_mtCCERCzbyj_zSWm6J2l22Ff" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash, cash equivalents, restricted cash and restricted cash equivalents</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,246</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">3,305</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A5_z6ue1AMcq1Fe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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--InventoryPolicyTextBlock_zJ9kNhGrJHR4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(d) <span id="xdx_869_zT7Y9DKQZGef">Inventory</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In accordance with Accounting Standards Codification 330 (ASC 330), inventory is stated at the lower of costs or net realizable value applicable to goods on hand. Items remain in inventory until they are shipped to the customer, at which time the costs are transferred on a FIFO basis to cost of revenues, or moved to leased assets as applicable, following the matching principle where costs and revenues are recognized in the same period. The Company has three classes of inventory; raw materials, work in process, and finished goods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_844_eus-gaap--TradeAndOtherAccountsReceivablePolicy_zYzGtAHQmOz2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(e) <span><span id="xdx_86B_zknatxu6aJm4">Accounts Receivable</span></span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts receivable are stated at the net amount expected to be collected. Amounts are usually due between 30 and 90 days after the invoice issuance. The Company is exposed to credit losses primarily on accounts receivable and contract assets related to sales to customers. If applicable, an allowance for credit losses is established to provide for the expected lifetime credit losses by evaluating factors such as customer creditworthiness, historical payment and loss experiences, current economic conditions (including geographic and political risk), and the age and status of outstanding receivables. Based on these factors, management has determined the allowance for credit losses was immaterial. Expected credit losses are written off in the period in which the financial assets are no longer collectible.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><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 0pt 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 90 days after invoicing). Generally, invoicing occurs after the services are performed or control of the product has transferred to the customer. Accounts receivable represent an unconditional right to consideration arising from the Company’s performance under contracts with customers.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zknuIHdORfG3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(f) <span id="xdx_861_zPtBOxSgCA9h">Property and Equipment, net</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment is stated at cost, less accumulated depreciation and amortization. Depreciation and amortization is calculated using the straight-line method over the estimated useful lives (three to ten years) of the assets. Leasehold improvements are amortized using the straight-line method over the shorter of the estimated useful life of the asset or the remaining lease term. Expenses for maintenance and repairs are charged to operations as incurred. Property and equipment is also reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of the asset exceeds its estimated future cash flows, then an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset.</span></p> <p id="xdx_899_ecustom--PropertyPlantAndEquipmentUsefulLifeTableTextBlock_zuuKzB72a3hi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BD_z0H5PyO99MVi" style="display: none">Schedule of Property, Plant and Equipment, Useful Life</span></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; background-color: White"> <td style="border-bottom: Black 1pt solid; width: 49%; font-weight: bold">Description</td><td style="width: 2%; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 49%; font-weight: bold; text-align: left">Estimated depreciable life</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Equipment</td><td> </td> <td><span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241031__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MinimumMember_zxo6ulks35xl" title="Property and equipment, useful life (Year)">5</span>-<span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20241031__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MaximumMember_zNxetkYlHLj4" title="Property and equipment, useful life (Year)">7 years</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Computer equipment &amp; software</td><td> </td> <td><span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20241031__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerEquipmentAndSoftwareMember_zAaNDw7u18bb" title="Property and equipment, useful life (Year)">3 years</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Office furniture &amp; fixtures</td><td> </td> <td><span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241031__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OfficeFurnitureAndFixturesMember__srt--RangeAxis__srt--MinimumMember_z2EKyiWgND8e" title="Property and equipment, useful life (Year)">3</span>-<span id="xdx_903_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20241031__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OfficeFurnitureAndFixturesMember__srt--RangeAxis__srt--MaximumMember_ziUFWRq7rdfb" title="Property and equipment, useful life (Year)">7 years</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Leasehold improvements</td><td> </td> <td style="text-align: left"><span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentUsefulLifeDescriptionOfTermExtensibleEnumeration_iI_dxL_c20241031__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zO3MkPpdbsSc" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2024%23UsefulLifeTermOfLeaseMember"><span style="-sec-ix-hidden: xdx2ixbrl0770">Shorter of the estimated useful life or lease term</span></span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Leased Power Buoy assets</td><td> </td> <td><span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20241031__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LeasedPowerBuoysAssetsMember_zuyXxCvxqtzg" title="Property and equipment, useful life (Year)">10 years</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Leased WAM-V assets</td><td> </td> <td><span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20241031__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LeasedAssetsMember_zZRvpnEvm9Ah" title="Property and equipment, useful life (Year)">10 years</span></td></tr> </table> <p id="xdx_8A2_zUT4N9f0viG6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p id="xdx_846_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_zmY03KSheQb9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(g) <span id="xdx_86E_zDETgzix9Mk2">Foreign Exchange Gains and Losses</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transactions denominated in a foreign currency may result in realized and unrealized foreign exchange gains or losses from exchange rate fluctuations, which are included in “Foreign exchange gain” in the accompanying Consolidated Statements of Operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p id="xdx_841_eus-gaap--ConcentrationRiskCreditRisk_zz8hwrdNNWGg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(h) <span id="xdx_864_zlK8MEdNzPFf">Concentration of Credit Risk</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 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 does not believe that it is exposed to any significant risks related to its cash accounts, money market fund, or held-to maturity investments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the six months ended October 31, 2024 and 2023, the Company had four and three customers, respectively, whose revenues accounted for at least 10% of the Company’s consolidated revenues. These revenues accounted for approximately <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240501__20241031__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--FourCustomersMember_zej30WUvUlI4" title="Concentration risk percentage">72</span>% and <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230501__20231031__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ThreeCustomersMember_zTdYh7zRUslb" title="Concentration risk percentage">55</span>% of the Company’s total revenues for the respective periods. For the three months ended October 31, 2024 and 2023, the Company had six and four customers, respectively, whose revenues accounted for at least 10% of the Company’s consolidated revenues. These revenues accounted for approximately <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240801__20241031__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SixCustomersMember_zuGZ3mXRVIg5" title="Concentration risk percentage">92</span>% and <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230801__20231031__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--FourCustomersMember_zgL7NDjnQHsl" 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 0pt 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--ShareBasedCompensationOptionAndIncentivePlansPolicy_zqXxyDaWh2Ak" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(i) <span id="xdx_863_z9FNbFo0ECBh">Share-Based Compensation</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 six months ended October 31, 2024 and 2023 was approximately $<span id="xdx_90F_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_pn5n6_c20240501__20241031_ziOzp5bMRkhk" title="Employee benefits and share based compensation">0.6</span> million and $<span id="xdx_90F_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_pn5n6_c20230501__20231031_zcQ9PahE3Srl" title="Employee benefits and share based compensation">0.7</span> million, respectively. For the three months ended October 31, 2024 and 2023, the aggregate share-based compensation expense was approximately $<span id="xdx_908_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_pn5n6_c20240801__20241031_zG7jy4066DAa" title="Employee benefits and share based compensation">0.3</span> million and $<span id="xdx_903_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_pn5n6_c20230801__20231031_zMQ2heZCX2Ld" title="Employee benefits and share based compensation">0.3</span> million, respectively. The Company’s policy is to account for forfeitures of share-based compensation as they occur.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additionally, upon vesting of Restricted Stock Units (“RSU”) that were granted to an employee, the employee is given the option to either pay the taxes themselves, or have enough shares of their RSU award withheld by the Company to cover the taxes incurred by the employee. In the event the employee elects to surrender shares to cover the tax implication, the Company maintains those shares in the Company’s treasury stock account. Shares held in the Company’s treasury stock account are not available for future RSU grants.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_844_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_z930jhA4Ken1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(j) <span id="xdx_86A_zMOUR5j2llx1">Revenue Recognition</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for revenue 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 0pt 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 0pt 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. Estimates of variable consideration and determination of whether to include such amounts in the transaction price are based largely on the 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 October 31, 2024 or 2023. 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 revenues and regular shipping and handling activities charged to operating expenses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><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; text-align: center"><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 0pt 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 or labor hours incurred 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 projections 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. During the six-month period ended October 31, 2024, the Company recognized approximately $<span id="xdx_906_eus-gaap--Revenues_pn5n6_c20240501__20241031__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_z2ALF80HlFj9" title="Revenue related to performance obligations">3.6</span> million in revenue related to performance obligations satisfied at a point in time and approximately $<span id="xdx_908_eus-gaap--Revenues_pn5n6_c20230501__20231031__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zmjxhFJVZebe" title="Revenue related to performance obligations">0.1</span> million in revenue related to performance obligations satisfied over time. During the three-month period ended October 31, 2024, the Company recognized approximately $<span id="xdx_908_eus-gaap--Revenues_pn5n6_c20240801__20241031__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_z5sSNNw2n6Te" title="Revenue related to performance obligations">2.3</span> million in revenue related to performance obligations satisfied at a point in time and approximately $<span id="xdx_90F_eus-gaap--Revenues_pn5n6_c20230801__20231031__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zqC06B038Q4h" title="Revenue related to performance obligations">0.1</span> million in revenue related to performance obligations satisfied over time.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 0pt 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 0pt 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 revenue, resulting in gross profit on these contracts of zero. The Company reports its disaggregation of revenue by contract type since this method best represents the Company’s business. For the six-month periods ended October 31, 2024 and 2023, the majority of the Company’s contracts were classified as firm fixed-price and the remainder were cost-sharing.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s contract assets and liabilities primarily relate to the timing differences between cash received from a customer in connection with contractual rights to invoicing and the timing of revenue recognition following completion of performance obligations. The Company’s accounts receivable balance is made up entirely of customer contract-related balances.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s revenue also includes revenue from certain contracts which do not fall within the scope of ASC 606, but under the scope of ASC 842, “Leases”. At inception of a contract for those classified under ASC 842, the Company classifies leases as either operating or financing in accordance with the authoritative accounting guidance contained within ASC Topic 842. 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. 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 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 with 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-top: 0pt; margin-bottom: 0pt; text-align: center"><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; text-align: center"><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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of October 31, 2024, the Company’s total remaining performance obligations, also referred to as backlog, totaled $<span id="xdx_90D_eus-gaap--RevenueRemainingPerformanceObligation_iI_pn5n6_c20241031_zTIMDMWYvxC1" title="Revenue remaining performance obligation">3.8</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Existing customers are subject to ongoing credit evaluations based on payment history and other factors. If it is determined that collectability of any portion of the contract value is not probable, an analysis of variable consideration will be performed using either the most likely amount or expected value method to determine the amount of revenue that must be constrained until the scenario causing the variability has been resolved.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has elected to record taxes collected from customers on a net basis and does not include tax amounts in revenue or costs of revenue.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_890_eus-gaap--DisaggregationOfRevenueTableTextBlock_zijMi92gjHF1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The table below represents the total revenue recognized under ASC 606 and ASC 842 for the three and six months ended July 31, 2024 and 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B7_zBZkZI87Sis2" style="display: none">Schedule of Revenue Recognizes from Operating Lease Arrangements</span></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="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20240501__20241031__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__custom--AccountingStandardsUpdate606Member_zARLJhxlWvR7" 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" id="xdx_497_20240501__20241031__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zneaAiZGdfAh" 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" id="xdx_495_20240501__20241031_z6XPcx6zpmTl" 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" id="xdx_491_20230501__20231031__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__custom--AccountingStandardsUpdate606Member_zhrYctass2fe" 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" id="xdx_49A_20230501__20231031__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zpr0gsf6pdme" 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" id="xdx_496_20230501__20231031_z0hBi5cVwkw4" 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 style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended October 31, 2024</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="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended October 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </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 style="text-align: center"> </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="font-weight: bold; text-align: left">Product Line:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--WAMVMember_zRjAhTwcc9U8" style="vertical-align: bottom; background-color: White"> <td style="width: 22%">WAM-V</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,416</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">132</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,548</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">$</td><td style="width: 9%; text-align: right">540</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">509</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: 9%; text-align: right">1,049</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--BuoyMember_zId7Z6oVOmxg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Buoy</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">171</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: xdx2ixbrl0820">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">171</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">630</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: xdx2ixbrl0823">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">630</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__us-gaap--ServiceMember_zMcAuF1Fpby" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Services</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"><span style="-sec-ix-hidden: xdx2ixbrl0826">—</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 style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0827">—</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 style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0828">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; 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">482</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"><span style="-sec-ix-hidden: xdx2ixbrl0830">—</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 style="border-bottom: Black 1pt solid; text-align: right">482</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__us-gaap--ProductMember_zgC5iyYABLD5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Total</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,587</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">132</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,719</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">1,652</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">509</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,161</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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><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="font-weight: bold">Region:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><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--Revenues_hsrt--StatementGeographicalAxis__custom--NorthAndSouthAmericaMember_zmSmqW7hI3Ri" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">North and South America</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,720</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0841">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,720</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">1,634</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">412</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,046</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__srt--EuropeMember_zXKEDPcyMM21" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Europe</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">865</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">132</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">997</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">18</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">97</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">115</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--AsiaAndAustraliaMember_zfISkWAzruB2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Asia and Australia</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">2</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"><span style="-sec-ix-hidden: xdx2ixbrl0855">—</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 style="border-bottom: Black 1pt solid; text-align: right">2</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; 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"><span style="-sec-ix-hidden: xdx2ixbrl0857">—</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 style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0858">—</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 style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0859">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--RegionMember_zZUdFGHZcjLl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Total</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,587</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">132</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,719</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">1,652</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">509</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,161</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--RegionMember_zu0xwR2NXUsc" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,587</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">132</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,719</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">1,652</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">509</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,161</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20240801__20241031__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__custom--AccountingStandardsUpdate606Member_zCi9ay8YvO3k" 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" id="xdx_49C_20240801__20241031__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zHTwCtrxYEZf" 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" id="xdx_49B_20240801__20241031_z3jJ52x3lrSh" 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" id="xdx_49C_20230801__20231031__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__custom--AccountingStandardsUpdate606Member_zNHKql5vypb4" 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" id="xdx_49B_20230801__20231031__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zbqsinMA4ngg" 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" id="xdx_493_20230801__20231031_z77VCwdEEB5c" 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 style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended October 31, 2024</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="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended October 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </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 style="text-align: center"> </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="font-weight: bold; text-align: left">Product Line:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--WAMVMember_znQB9InuUEji" style="vertical-align: bottom; background-color: White"> <td style="width: 22%">WAM-V</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,182</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">65</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,247</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">$</td><td style="width: 9%; text-align: right">81</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">266</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: 9%; text-align: right">347</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--BuoyMember_zko1mzNNqsS9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Buoy</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">171</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: xdx2ixbrl0883">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">171</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">380</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: xdx2ixbrl0886">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">380</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__us-gaap--ServiceMember_zXlNUbc2JuPb" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Services</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"><span style="-sec-ix-hidden: xdx2ixbrl0889">—</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 style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0890">—</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 style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0891">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; 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">162</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"><span style="-sec-ix-hidden: xdx2ixbrl0893">—</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 style="border-bottom: Black 1pt solid; text-align: right">162</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__us-gaap--ProductMember_zMrEKbwWmy6b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Total</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,353</td><td style="text-align: left"> </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">2,418</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </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">266</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">889</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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><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="font-weight: bold">Region:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--NorthAndSouthAmericaMember_z2R9sjWnxGxh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">North and South America</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,491</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0904">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,491</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">605</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">187</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">792</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__us-gaap--EMEAMember_z2BqCKomFb5i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>EMEA</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">860</td><td style="text-align: left"> </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">925</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">18</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">79</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">97</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--AsiaAndAustraliaMember_zaosyPKrihql" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Asia and Australia</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">2</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"><span style="-sec-ix-hidden: xdx2ixbrl0918">—</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 style="border-bottom: Black 1pt solid; text-align: right">2</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; 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"><span style="-sec-ix-hidden: xdx2ixbrl0920">—</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 style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0921">—</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 style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0922">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--RegionMember_zTZjuowjDYse" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Total</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,353</td><td style="text-align: left"> </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">2,418</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </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">266</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">889</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--RegionMember_zJJdZSybIVb" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,353</td><td style="text-align: left"> </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">2,418</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </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">266</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">889</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A0_zmzRfO3VPL9e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p id="xdx_846_eus-gaap--EarningsPerSharePolicyTextBlock_zAPkc2FDmJX2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(k) <span id="xdx_865_zXA9yXHTUlQ9">Net Loss per Common Share</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic and diluted net loss per 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. Due to the Company’s net losses, potentially dilutive securities, consisting of options to purchase shares of common stock, warrants on common stock and unvested RSUs 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 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In computing diluted net loss per share on the Consolidated Statements of Operations, warrants on common stock, options to purchase shares of common stock and unvested RSUs issued to employees and non-employee directors, totaling <span id="xdx_906_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240501__20241031_znRQyKeTqQPh" title="Antidilutive securities excluded from computation of earnings per share, amount">6,080,010</span> and <span id="xdx_908_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20230501__20231031_zBO4IgCjMcR" title="Antidilutive securities excluded from computation of earnings per share, amount">7,294,852</span> as of October 31, 2024 and 2023, respectively, were excluded from each of the computations as the effect would have been anti-dilutive due to the net loss for the periods. Share purchase rights, which include a contingency, are not included in the calculation until the contingency is resolved.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_847_eus-gaap--GoodwillAndIntangibleAssetsIntangibleAssetsPolicy_zhIMNW4VLjed" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(l) <span id="xdx_86F_zYQfIEAvECm4">Intangibles, net</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets acquired in a business combination are recognized separately from goodwill and are initially recognized at their fair value at the acquisition date (which is regarded as their cost). Intangible assets, including patents, are amortized over the estimated useful life of the asset on a basis that approximates the pattern of economic benefit. The patents, trade name and customer relationship intangibles are being amortized over <span id="xdx_90B_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20241031__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zHVPVH6IjOY2" title="Intangible asset estimated lives">20</span>, <span id="xdx_901_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20241031__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zidhIRTkF0A6" title="Intangible asset estimated lives">12</span> and <span id="xdx_903_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20241031__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zHPaQvXCOMh1" title="Intangible asset estimated lives">10</span> years respectively, which is consistent with the estimated pattern of economic benefit of the assets. The trademark is not subject to amortization.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets are reviewed for impairment if indicators of potential impairment exist. There were no indications of potential impairment of intangible assets for either the six months ended October 31, 2024 or 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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--GoodwillAndIntangibleAssetsGoodwillPolicy_zDelBB2R57Pj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(m) <span id="xdx_869_zfh56xhBZKA7">Goodwill</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill is assessed for impairment using a qualitative or quantitative approach. The Company performs an annual impairment test of goodwill and further periodic tests to the extent indicators of impairment develop between annual impairment tests. There were no indications of potential impairment of goodwill identified for the six months ended October 31, 2024 and 2023. Where the Company uses a qualitative analysis, it considers factors that include historical financial performance, macroeconomic and industry conditions, and the legal and regulatory environment. If the qualitative assessment indicates that it is more likely than not that an impairment exists, then a quantitative assessment is also performed. The quantitative assessment requires an analysis of several estimates including future cash flows or income consistent with management’s strategic business plans, annual revenue growth rates and the selection of assumptions underlying a discount rate (weighted average cost of capital) based on market data available at the time to determine the fair value of the Company. If the fair value is less than the carrying amounts, an impairment charge for the difference is recorded. The Company acquired goodwill as part of its purchase of MAR. Management performed its annual qualitative assessment in fiscal year 2024 and determined that it is more likely than not that no goodwill impairment existed as of April 30, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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--IncomeTaxPolicyTextBlock_zg1Cqp12Mqd9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(n) <span id="xdx_862_zcHSXDj9o4kd">Income Taxes</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income taxes are accounted for under (“ASU”) No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”) utilizing the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences and operating loss and tax credit carry forwards are expected to be recovered, settled or utilized. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all the deferred tax assets will not be realized. If such event occurs, a valuation allowance is recorded. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><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; text-align: center"><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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained upon examination. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest related to unrecognized tax benefits in interest expense and penalties in selling, general, and administrative expenses, to the extent incurred. Refer to Note 15 for additional disclosure.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In order to monetize their attributes, the Company has historically sold the Net Operating Losses (NOL’s) and R&amp;D credit generated in New Jersey. The Company has elected to recognize the gain on the sale as a component of tax expense at the time of the sale. Prior to the time of sale, the Company has elected to not factor the expected sales when assessing the assessing the realizability of the related deferred tax assets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_843_ecustom--AccumulatedOtherComprehensiveLossPolicyTextBlock_zmpio16f2fp9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(o) <span id="xdx_862_zD8VXxu89QFd">Accumulated Other Comprehensive Loss</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The functional currency for the Company’s foreign operations is the applicable local currency. The translation from the applicable foreign currencies to U.S. dollars is performed for balance sheet accounts using the exchange rates in effect at the balance sheet date and for revenue and expense accounts using an average exchange rate during the period. The unrealized gains or losses resulting from such translation are included in Accumulated Other Comprehensive Loss within Shareholders’ Equity. For the six months ended October 31, 2024 and 2023, there were no amounts recorded to other comprehensive loss due to limited foreign operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_847_ecustom--WarrantyPolicyTextBlock_zx5uLNIe7Yl6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(p) <span id="xdx_865_zhUdNSLgs6Ig">Warranty</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company does not include a right of return on its products other than rights related to standard warranty provisions that permit repair or replacement of defective goods. Warranty expense incurred to date has not been material.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84C_eus-gaap--ResearchAndDevelopmentExpensePolicy_zjSwOa6V9w25" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(q) <span id="xdx_86D_zLXo2mWMdcOj">Product Development</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Costs related to product development activities by the Company are expensed as incurred. The Company had approximately $<span id="xdx_909_eus-gaap--ResearchAndDevelopmentExpense_pn5n6_c20240501__20241031_zeycxgIq5gga" title="Product development expense">1.3</span> million and $<span id="xdx_90D_eus-gaap--ResearchAndDevelopmentExpense_pn5n6_c20230501__20231031_z8RxAT5oMhhd" title="Product development expense">4.0</span> million in product development expense for the six months ended October 31, 2024 and 2023, respectively. The Company had approximately $<span id="xdx_908_eus-gaap--ResearchAndDevelopmentExpense_pn5n6_c20240801__20241031_ztQKVcrRaf78" title="Product development expense">0.7</span> million and $<span id="xdx_90C_eus-gaap--ResearchAndDevelopmentExpense_pn5n6_c20230801__20231031_zLCWWMMWpnHd" title="Product development expense">2.1</span> million in product development expense for the three months ended October 31, 2024 and 2023, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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_zX6jClGadHV5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(r) <span id="xdx_860_zeJ0qjVjcs7b">Recently Issued Accounting Standards</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”), which improves the transparency of income tax disclosures by requiring companies to (1) disclose consistent categories and greater disaggregation of information in the effective rate reconciliation and (2) provide information on income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, although early adoption is permitted. The guidance should be applied on a prospective basis with the option to apply the standard retrospectively. We are currently evaluating what the potential impact of adopting this ASU 2023-09 could have on our consolidated financial statements and disclosures.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” This ASU improves financial reporting by requiring disclosure of incremental segment information. The new guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The guidance was effective for the Company on May 1, 2024. The Company expects to provide incremental qualitative segment-related disclosures beginning with the Company’s Annual Report on Form 10-K for the fiscal year ended April 30, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2024, the FASB issued ASU No. 2024-3, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” This ASU improves the disclosures about a public business entity’s expenses and address requests from investors for more detailed information about the types of expenses in commonly presented expense captions. The new guidance is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. We are currently evaluating what the potential impact of adopting this ASU 2024-03 could have on our consolidated financial statements and disclosures.</span></p> <p id="xdx_85D_ziiSPxFK41hf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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--ConsolidationPolicyTextBlock_zSHLTxJw12Dl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(a) <span id="xdx_869_zDYLBMgCNcoe">Consolidation</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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, Marine Advanced Robotics Inc. (CA), referred to herein as MAR, 3dent Technologies LLC (3Dent  ), Oregon Wave Energy Partners I LLC (DE), ReedSport OPT WavePark, LLC (OR) and Ocean Power Technologies Ltd. in the United Kingdom. ReedSport OPT WavePark, LLC (OR) and Oregon Wave Energy Partners I, LLC (DE) were dissolved during the first quarter of fiscal 2024. 3dent was sold in November 2023 and the consolidated financial statements for the three and six months ended October 31, 2023 include 3dent’s results of operations for the applicable periods through the date of sale. All significant intercompany balances and transactions have been eliminated in consolidation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_eus-gaap--UseOfEstimates_zkGabPEcEZf4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(b) <span id="xdx_867_zhEfSM66262g">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 several 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 revenue and expenses during the period. Significant items subject to such estimates and assumptions include, among other items, stock-based compensation based on actual and projected revenues, over time revenue recognition, valuation consideration related to business combinations, including contingent consideration based on actual and projected revenues, including discount rates and present values, and other assumptions and estimates used to evaluate the recoverability of long-lived assets, goodwill and other intangible assets. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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_zqLLCyaYfX6k" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(c) <span id="xdx_86C_zvUe3HVcNJr4">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 0pt 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 0pt 0pt 0; text-align: left"><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 0pt 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 0pt 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 an original 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, cash equivalents and restricted cash of approximately $<span id="xdx_90B_eus-gaap--CashCashEquivalentsAndShortTermInvestments_iI_pn5n6_c20241031_zlvnPhLMQLp2">2.2</span> million and $<span id="xdx_900_eus-gaap--CashCashEquivalentsAndShortTermInvestments_iI_pn5n6_c20240430_zJwxTZ2hf8Da">3.3</span> million as of October 31, 2024 and April 30, 2024, respectfully.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><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; text-align: center"><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 0pt 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 0pt 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 0pt 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_908_eus-gaap--Deposits_iI_c20241031__us-gaap--AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis__custom--SantanderBankMember_zw5ulPuIfQ1" 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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the prior years, Santander also issued a letter of credit to subsidiaries of Enel Green Power (“EGP”) pursuant to the Company’s contracts with EGP. A letter of credit was issued in the amount of $<span id="xdx_90A_eus-gaap--LettersOfCreditOutstandingAmount_iI_c20200831__us-gaap--TypeOfArrangementAxis__custom--RestrictedCashAndSecurityAgreementsMember__us-gaap--AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis__custom--SantanderBankMember__us-gaap--ShortTermDebtTypeAxis__custom--LetterOneMember_z33aMX1yCQf6" title="Letters of credit outstanding">645,000</span> and was reduced to $<span id="xdx_90B_eus-gaap--LettersOfCreditOutstandingAmount_iI_c20200831__us-gaap--AwardDateAxis__custom--AugustTwentyTwentyMember__us-gaap--AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis__custom--SantanderBankMember__us-gaap--ShortTermDebtTypeAxis__custom--LetterTwoMember_zw0gPfxjE9na" title="Letters of credit outstanding">323,000</span> in August 2020. The letter of credit was further reduced by an additional $<span id="xdx_90C_ecustom--LettersOfCreditIssuedAmount_iI_c20230131__us-gaap--AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis__custom--SantanderBankMember__us-gaap--ShortTermDebtTypeAxis__custom--LetterTwoMember_zlHZQ7mQSwzl" title="Letters of credit issued amount">258,000</span> in January 2023, when the legacy PB3 PowerBuoy® (“PB3”) and its accompanying systems passed final acceptance testing. The remaining restricted amount of $<span id="xdx_90A_ecustom--LettersOfCreditIssuedAmount_iI_c20240131__us-gaap--AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis__custom--SantanderBankMember__us-gaap--ShortTermDebtTypeAxis__custom--LetterTwoMember_zw5IG894HQf3" title="Letters of credit issued amount">65,000</span> was released in January 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_eus-gaap--ScheduleOfRestrictedCashAndCashEquivalentsTextBlock_zxNhWVBfItsa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BD_zGozZw7p9QN5" style="display: none">Schedule of Cash and Cash Equivalents and Restricted Cash</span></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="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20241031_zoEBjQdzd2uk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 31, 2024</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_20240430_zkgK71fM0wub" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</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--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3_maCCERCzbyj_z9q1KJtsL1Lb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,092</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,151</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RestrictedCashNoncurrent_iI_pn3n3_maCCERCzbyj_zAE1vUJI1nt8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Restricted cash- long term</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">154</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">154</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_iTI_pn3n3_mtCCERCzbyj_zSWm6J2l22Ff" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash, cash equivalents, restricted cash and restricted cash equivalents</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,246</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">3,305</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A5_z6ue1AMcq1Fe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 2200000 3300000 154000 645000 323000 258000 65000 <p id="xdx_898_eus-gaap--ScheduleOfRestrictedCashAndCashEquivalentsTextBlock_zxNhWVBfItsa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BD_zGozZw7p9QN5" style="display: none">Schedule of Cash and Cash Equivalents and Restricted Cash</span></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="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20241031_zoEBjQdzd2uk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 31, 2024</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_20240430_zkgK71fM0wub" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</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--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3_maCCERCzbyj_z9q1KJtsL1Lb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,092</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,151</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RestrictedCashNoncurrent_iI_pn3n3_maCCERCzbyj_zAE1vUJI1nt8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Restricted cash- long term</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">154</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">154</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_iTI_pn3n3_mtCCERCzbyj_zSWm6J2l22Ff" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash, cash equivalents, restricted cash and restricted cash equivalents</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,246</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">3,305</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 2092000 3151000 154000 154000 2246000 3305000 <p id="xdx_843_eus-gaap--InventoryPolicyTextBlock_zJ9kNhGrJHR4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(d) <span id="xdx_869_zT7Y9DKQZGef">Inventory</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In accordance with Accounting Standards Codification 330 (ASC 330), inventory is stated at the lower of costs or net realizable value applicable to goods on hand. Items remain in inventory until they are shipped to the customer, at which time the costs are transferred on a FIFO basis to cost of revenues, or moved to leased assets as applicable, following the matching principle where costs and revenues are recognized in the same period. The Company has three classes of inventory; raw materials, work in process, and finished goods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_844_eus-gaap--TradeAndOtherAccountsReceivablePolicy_zYzGtAHQmOz2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(e) <span><span id="xdx_86B_zknatxu6aJm4">Accounts Receivable</span></span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts receivable are stated at the net amount expected to be collected. Amounts are usually due between 30 and 90 days after the invoice issuance. The Company is exposed to credit losses primarily on accounts receivable and contract assets related to sales to customers. If applicable, an allowance for credit losses is established to provide for the expected lifetime credit losses by evaluating factors such as customer creditworthiness, historical payment and loss experiences, current economic conditions (including geographic and political risk), and the age and status of outstanding receivables. Based on these factors, management has determined the allowance for credit losses was immaterial. Expected credit losses are written off in the period in which the financial assets are no longer collectible.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><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 0pt 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 90 days after invoicing). Generally, invoicing occurs after the services are performed or control of the product has transferred to the customer. Accounts receivable represent an unconditional right to consideration arising from the Company’s performance under contracts with customers.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zknuIHdORfG3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(f) <span id="xdx_861_zPtBOxSgCA9h">Property and Equipment, net</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment is stated at cost, less accumulated depreciation and amortization. Depreciation and amortization is calculated using the straight-line method over the estimated useful lives (three to ten years) of the assets. Leasehold improvements are amortized using the straight-line method over the shorter of the estimated useful life of the asset or the remaining lease term. Expenses for maintenance and repairs are charged to operations as incurred. Property and equipment is also reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of the asset exceeds its estimated future cash flows, then an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset.</span></p> <p id="xdx_899_ecustom--PropertyPlantAndEquipmentUsefulLifeTableTextBlock_zuuKzB72a3hi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BD_z0H5PyO99MVi" style="display: none">Schedule of Property, Plant and Equipment, Useful Life</span></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; background-color: White"> <td style="border-bottom: Black 1pt solid; width: 49%; font-weight: bold">Description</td><td style="width: 2%; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 49%; font-weight: bold; text-align: left">Estimated depreciable life</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Equipment</td><td> </td> <td><span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241031__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MinimumMember_zxo6ulks35xl" title="Property and equipment, useful life (Year)">5</span>-<span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20241031__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MaximumMember_zNxetkYlHLj4" title="Property and equipment, useful life (Year)">7 years</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Computer equipment &amp; software</td><td> </td> <td><span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20241031__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerEquipmentAndSoftwareMember_zAaNDw7u18bb" title="Property and equipment, useful life (Year)">3 years</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Office furniture &amp; fixtures</td><td> </td> <td><span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241031__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OfficeFurnitureAndFixturesMember__srt--RangeAxis__srt--MinimumMember_z2EKyiWgND8e" title="Property and equipment, useful life (Year)">3</span>-<span id="xdx_903_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20241031__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OfficeFurnitureAndFixturesMember__srt--RangeAxis__srt--MaximumMember_ziUFWRq7rdfb" title="Property and equipment, useful life (Year)">7 years</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Leasehold improvements</td><td> </td> <td style="text-align: left"><span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentUsefulLifeDescriptionOfTermExtensibleEnumeration_iI_dxL_c20241031__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zO3MkPpdbsSc" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2024%23UsefulLifeTermOfLeaseMember"><span style="-sec-ix-hidden: xdx2ixbrl0770">Shorter of the estimated useful life or lease term</span></span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Leased Power Buoy assets</td><td> </td> <td><span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20241031__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LeasedPowerBuoysAssetsMember_zuyXxCvxqtzg" title="Property and equipment, useful life (Year)">10 years</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Leased WAM-V assets</td><td> </td> <td><span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20241031__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LeasedAssetsMember_zZRvpnEvm9Ah" title="Property and equipment, useful life (Year)">10 years</span></td></tr> </table> <p id="xdx_8A2_zUT4N9f0viG6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p id="xdx_899_ecustom--PropertyPlantAndEquipmentUsefulLifeTableTextBlock_zuuKzB72a3hi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BD_z0H5PyO99MVi" style="display: none">Schedule of Property, Plant and Equipment, Useful Life</span></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; background-color: White"> <td style="border-bottom: Black 1pt solid; width: 49%; font-weight: bold">Description</td><td style="width: 2%; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 49%; font-weight: bold; text-align: left">Estimated depreciable life</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Equipment</td><td> </td> <td><span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241031__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MinimumMember_zxo6ulks35xl" title="Property and equipment, useful life (Year)">5</span>-<span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20241031__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MaximumMember_zNxetkYlHLj4" title="Property and equipment, useful life (Year)">7 years</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Computer equipment &amp; software</td><td> </td> <td><span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20241031__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerEquipmentAndSoftwareMember_zAaNDw7u18bb" title="Property and equipment, useful life (Year)">3 years</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Office furniture &amp; fixtures</td><td> </td> <td><span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241031__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OfficeFurnitureAndFixturesMember__srt--RangeAxis__srt--MinimumMember_z2EKyiWgND8e" title="Property and equipment, useful life (Year)">3</span>-<span id="xdx_903_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20241031__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OfficeFurnitureAndFixturesMember__srt--RangeAxis__srt--MaximumMember_ziUFWRq7rdfb" title="Property and equipment, useful life (Year)">7 years</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Leasehold improvements</td><td> </td> <td style="text-align: left"><span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentUsefulLifeDescriptionOfTermExtensibleEnumeration_iI_dxL_c20241031__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zO3MkPpdbsSc" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2024%23UsefulLifeTermOfLeaseMember"><span style="-sec-ix-hidden: xdx2ixbrl0770">Shorter of the estimated useful life or lease term</span></span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Leased Power Buoy assets</td><td> </td> <td><span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20241031__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LeasedPowerBuoysAssetsMember_zuyXxCvxqtzg" title="Property and equipment, useful life (Year)">10 years</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Leased WAM-V assets</td><td> </td> <td><span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20241031__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LeasedAssetsMember_zZRvpnEvm9Ah" title="Property and equipment, useful life (Year)">10 years</span></td></tr> </table> P5Y P7Y P3Y P3Y P7Y P10Y P10Y <p id="xdx_846_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_zmY03KSheQb9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(g) <span id="xdx_86E_zDETgzix9Mk2">Foreign Exchange Gains and Losses</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transactions denominated in a foreign currency may result in realized and unrealized foreign exchange gains or losses from exchange rate fluctuations, which are included in “Foreign exchange gain” in the accompanying Consolidated Statements of Operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p id="xdx_841_eus-gaap--ConcentrationRiskCreditRisk_zz8hwrdNNWGg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(h) <span id="xdx_864_zlK8MEdNzPFf">Concentration of Credit Risk</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 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 does not believe that it is exposed to any significant risks related to its cash accounts, money market fund, or held-to maturity investments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the six months ended October 31, 2024 and 2023, the Company had four and three customers, respectively, whose revenues accounted for at least 10% of the Company’s consolidated revenues. These revenues accounted for approximately <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240501__20241031__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--FourCustomersMember_zej30WUvUlI4" title="Concentration risk percentage">72</span>% and <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230501__20231031__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ThreeCustomersMember_zTdYh7zRUslb" title="Concentration risk percentage">55</span>% of the Company’s total revenues for the respective periods. For the three months ended October 31, 2024 and 2023, the Company had six and four customers, respectively, whose revenues accounted for at least 10% of the Company’s consolidated revenues. These revenues accounted for approximately <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240801__20241031__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SixCustomersMember_zuGZ3mXRVIg5" title="Concentration risk percentage">92</span>% and <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230801__20231031__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--FourCustomersMember_zgL7NDjnQHsl" 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 0.72 0.55 0.92 0.71 <p id="xdx_845_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zqXxyDaWh2Ak" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(i) <span id="xdx_863_z9FNbFo0ECBh">Share-Based Compensation</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 six months ended October 31, 2024 and 2023 was approximately $<span id="xdx_90F_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_pn5n6_c20240501__20241031_ziOzp5bMRkhk" title="Employee benefits and share based compensation">0.6</span> million and $<span id="xdx_90F_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_pn5n6_c20230501__20231031_zcQ9PahE3Srl" title="Employee benefits and share based compensation">0.7</span> million, respectively. For the three months ended October 31, 2024 and 2023, the aggregate share-based compensation expense was approximately $<span id="xdx_908_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_pn5n6_c20240801__20241031_zG7jy4066DAa" title="Employee benefits and share based compensation">0.3</span> million and $<span id="xdx_903_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_pn5n6_c20230801__20231031_zMQ2heZCX2Ld" title="Employee benefits and share based compensation">0.3</span> million, respectively. The Company’s policy is to account for forfeitures of share-based compensation as they occur.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additionally, upon vesting of Restricted Stock Units (“RSU”) that were granted to an employee, the employee is given the option to either pay the taxes themselves, or have enough shares of their RSU award withheld by the Company to cover the taxes incurred by the employee. In the event the employee elects to surrender shares to cover the tax implication, the Company maintains those shares in the Company’s treasury stock account. Shares held in the Company’s treasury stock account are not available for future RSU grants.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 600000 700000 300000 300000 <p id="xdx_844_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_z930jhA4Ken1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(j) <span id="xdx_86A_zMOUR5j2llx1">Revenue Recognition</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for revenue 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 0pt 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 0pt 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. Estimates of variable consideration and determination of whether to include such amounts in the transaction price are based largely on the 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 October 31, 2024 or 2023. 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 revenues and regular shipping and handling activities charged to operating expenses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><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; text-align: center"><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 0pt 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 or labor hours incurred 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 projections 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. During the six-month period ended October 31, 2024, the Company recognized approximately $<span id="xdx_906_eus-gaap--Revenues_pn5n6_c20240501__20241031__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_z2ALF80HlFj9" title="Revenue related to performance obligations">3.6</span> million in revenue related to performance obligations satisfied at a point in time and approximately $<span id="xdx_908_eus-gaap--Revenues_pn5n6_c20230501__20231031__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zmjxhFJVZebe" title="Revenue related to performance obligations">0.1</span> million in revenue related to performance obligations satisfied over time. During the three-month period ended October 31, 2024, the Company recognized approximately $<span id="xdx_908_eus-gaap--Revenues_pn5n6_c20240801__20241031__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_z5sSNNw2n6Te" title="Revenue related to performance obligations">2.3</span> million in revenue related to performance obligations satisfied at a point in time and approximately $<span id="xdx_90F_eus-gaap--Revenues_pn5n6_c20230801__20231031__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zqC06B038Q4h" title="Revenue related to performance obligations">0.1</span> million in revenue related to performance obligations satisfied over time.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 0pt 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 0pt 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 revenue, resulting in gross profit on these contracts of zero. The Company reports its disaggregation of revenue by contract type since this method best represents the Company’s business. For the six-month periods ended October 31, 2024 and 2023, the majority of the Company’s contracts were classified as firm fixed-price and the remainder were cost-sharing.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s contract assets and liabilities primarily relate to the timing differences between cash received from a customer in connection with contractual rights to invoicing and the timing of revenue recognition following completion of performance obligations. The Company’s accounts receivable balance is made up entirely of customer contract-related balances.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s revenue also includes revenue from certain contracts which do not fall within the scope of ASC 606, but under the scope of ASC 842, “Leases”. At inception of a contract for those classified under ASC 842, the Company classifies leases as either operating or financing in accordance with the authoritative accounting guidance contained within ASC Topic 842. 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. 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 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 with 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-top: 0pt; margin-bottom: 0pt; text-align: center"><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; text-align: center"><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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of October 31, 2024, the Company’s total remaining performance obligations, also referred to as backlog, totaled $<span id="xdx_90D_eus-gaap--RevenueRemainingPerformanceObligation_iI_pn5n6_c20241031_zTIMDMWYvxC1" title="Revenue remaining performance obligation">3.8</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Existing customers are subject to ongoing credit evaluations based on payment history and other factors. If it is determined that collectability of any portion of the contract value is not probable, an analysis of variable consideration will be performed using either the most likely amount or expected value method to determine the amount of revenue that must be constrained until the scenario causing the variability has been resolved.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has elected to record taxes collected from customers on a net basis and does not include tax amounts in revenue or costs of revenue.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_890_eus-gaap--DisaggregationOfRevenueTableTextBlock_zijMi92gjHF1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The table below represents the total revenue recognized under ASC 606 and ASC 842 for the three and six months ended July 31, 2024 and 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B7_zBZkZI87Sis2" style="display: none">Schedule of Revenue Recognizes from Operating Lease Arrangements</span></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="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20240501__20241031__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__custom--AccountingStandardsUpdate606Member_zARLJhxlWvR7" 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" id="xdx_497_20240501__20241031__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zneaAiZGdfAh" 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" id="xdx_495_20240501__20241031_z6XPcx6zpmTl" 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" id="xdx_491_20230501__20231031__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__custom--AccountingStandardsUpdate606Member_zhrYctass2fe" 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" id="xdx_49A_20230501__20231031__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zpr0gsf6pdme" 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" id="xdx_496_20230501__20231031_z0hBi5cVwkw4" 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 style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended October 31, 2024</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="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended October 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </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 style="text-align: center"> </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="font-weight: bold; text-align: left">Product Line:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--WAMVMember_zRjAhTwcc9U8" style="vertical-align: bottom; background-color: White"> <td style="width: 22%">WAM-V</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,416</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">132</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,548</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">$</td><td style="width: 9%; text-align: right">540</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">509</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: 9%; text-align: right">1,049</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--BuoyMember_zId7Z6oVOmxg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Buoy</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">171</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: xdx2ixbrl0820">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">171</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">630</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: xdx2ixbrl0823">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">630</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__us-gaap--ServiceMember_zMcAuF1Fpby" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Services</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"><span style="-sec-ix-hidden: xdx2ixbrl0826">—</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 style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0827">—</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 style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0828">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; 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">482</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"><span style="-sec-ix-hidden: xdx2ixbrl0830">—</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 style="border-bottom: Black 1pt solid; text-align: right">482</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__us-gaap--ProductMember_zgC5iyYABLD5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Total</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,587</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">132</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,719</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">1,652</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">509</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,161</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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><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="font-weight: bold">Region:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><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--Revenues_hsrt--StatementGeographicalAxis__custom--NorthAndSouthAmericaMember_zmSmqW7hI3Ri" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">North and South America</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,720</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0841">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,720</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">1,634</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">412</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,046</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__srt--EuropeMember_zXKEDPcyMM21" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Europe</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">865</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">132</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">997</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">18</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">97</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">115</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--AsiaAndAustraliaMember_zfISkWAzruB2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Asia and Australia</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">2</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"><span style="-sec-ix-hidden: xdx2ixbrl0855">—</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 style="border-bottom: Black 1pt solid; text-align: right">2</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; 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"><span style="-sec-ix-hidden: xdx2ixbrl0857">—</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 style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0858">—</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 style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0859">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--RegionMember_zZUdFGHZcjLl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Total</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,587</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">132</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,719</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">1,652</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">509</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,161</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--RegionMember_zu0xwR2NXUsc" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,587</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">132</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,719</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">1,652</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">509</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,161</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20240801__20241031__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__custom--AccountingStandardsUpdate606Member_zCi9ay8YvO3k" 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" id="xdx_49C_20240801__20241031__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zHTwCtrxYEZf" 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" id="xdx_49B_20240801__20241031_z3jJ52x3lrSh" 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" id="xdx_49C_20230801__20231031__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__custom--AccountingStandardsUpdate606Member_zNHKql5vypb4" 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" id="xdx_49B_20230801__20231031__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zbqsinMA4ngg" 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" id="xdx_493_20230801__20231031_z77VCwdEEB5c" 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 style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended October 31, 2024</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="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended October 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </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 style="text-align: center"> </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="font-weight: bold; text-align: left">Product Line:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--WAMVMember_znQB9InuUEji" style="vertical-align: bottom; background-color: White"> <td style="width: 22%">WAM-V</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,182</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">65</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,247</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">$</td><td style="width: 9%; text-align: right">81</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">266</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: 9%; text-align: right">347</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--BuoyMember_zko1mzNNqsS9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Buoy</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">171</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: xdx2ixbrl0883">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">171</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">380</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: xdx2ixbrl0886">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">380</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__us-gaap--ServiceMember_zXlNUbc2JuPb" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Services</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"><span style="-sec-ix-hidden: xdx2ixbrl0889">—</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 style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0890">—</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 style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0891">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; 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">162</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"><span style="-sec-ix-hidden: xdx2ixbrl0893">—</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 style="border-bottom: Black 1pt solid; text-align: right">162</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__us-gaap--ProductMember_zMrEKbwWmy6b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Total</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,353</td><td style="text-align: left"> </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">2,418</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </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">266</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">889</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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><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="font-weight: bold">Region:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--NorthAndSouthAmericaMember_z2R9sjWnxGxh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">North and South America</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,491</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0904">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,491</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">605</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">187</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">792</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__us-gaap--EMEAMember_z2BqCKomFb5i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>EMEA</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">860</td><td style="text-align: left"> </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">925</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">18</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">79</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">97</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--AsiaAndAustraliaMember_zaosyPKrihql" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Asia and Australia</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">2</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"><span style="-sec-ix-hidden: xdx2ixbrl0918">—</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 style="border-bottom: Black 1pt solid; text-align: right">2</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; 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"><span style="-sec-ix-hidden: xdx2ixbrl0920">—</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 style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0921">—</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 style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0922">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--RegionMember_zTZjuowjDYse" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Total</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,353</td><td style="text-align: left"> </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">2,418</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </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">266</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">889</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--RegionMember_zJJdZSybIVb" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,353</td><td style="text-align: left"> </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">2,418</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </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">266</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">889</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A0_zmzRfO3VPL9e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> 3600000 100000 2300000 100000 3800000 <p id="xdx_890_eus-gaap--DisaggregationOfRevenueTableTextBlock_zijMi92gjHF1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The table below represents the total revenue recognized under ASC 606 and ASC 842 for the three and six months ended July 31, 2024 and 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B7_zBZkZI87Sis2" style="display: none">Schedule of Revenue Recognizes from Operating Lease Arrangements</span></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="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20240501__20241031__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__custom--AccountingStandardsUpdate606Member_zARLJhxlWvR7" 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" id="xdx_497_20240501__20241031__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zneaAiZGdfAh" 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" id="xdx_495_20240501__20241031_z6XPcx6zpmTl" 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" id="xdx_491_20230501__20231031__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__custom--AccountingStandardsUpdate606Member_zhrYctass2fe" 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" id="xdx_49A_20230501__20231031__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zpr0gsf6pdme" 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" id="xdx_496_20230501__20231031_z0hBi5cVwkw4" 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 style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended October 31, 2024</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="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended October 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </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 style="text-align: center"> </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="font-weight: bold; text-align: left">Product Line:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--WAMVMember_zRjAhTwcc9U8" style="vertical-align: bottom; background-color: White"> <td style="width: 22%">WAM-V</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,416</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">132</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,548</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">$</td><td style="width: 9%; text-align: right">540</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">509</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: 9%; text-align: right">1,049</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--BuoyMember_zId7Z6oVOmxg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Buoy</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">171</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: xdx2ixbrl0820">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">171</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">630</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: xdx2ixbrl0823">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">630</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__us-gaap--ServiceMember_zMcAuF1Fpby" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Services</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"><span style="-sec-ix-hidden: xdx2ixbrl0826">—</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 style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0827">—</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 style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0828">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; 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">482</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"><span style="-sec-ix-hidden: xdx2ixbrl0830">—</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 style="border-bottom: Black 1pt solid; text-align: right">482</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__us-gaap--ProductMember_zgC5iyYABLD5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Total</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,587</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">132</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,719</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">1,652</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">509</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,161</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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><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="font-weight: bold">Region:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><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--Revenues_hsrt--StatementGeographicalAxis__custom--NorthAndSouthAmericaMember_zmSmqW7hI3Ri" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">North and South America</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,720</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0841">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,720</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">1,634</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">412</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,046</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__srt--EuropeMember_zXKEDPcyMM21" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Europe</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">865</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">132</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">997</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">18</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">97</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">115</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--AsiaAndAustraliaMember_zfISkWAzruB2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Asia and Australia</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">2</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"><span style="-sec-ix-hidden: xdx2ixbrl0855">—</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 style="border-bottom: Black 1pt solid; text-align: right">2</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; 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"><span style="-sec-ix-hidden: xdx2ixbrl0857">—</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 style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0858">—</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 style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0859">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--RegionMember_zZUdFGHZcjLl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Total</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,587</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">132</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,719</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">1,652</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">509</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,161</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--RegionMember_zu0xwR2NXUsc" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,587</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">132</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,719</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">1,652</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">509</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,161</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20240801__20241031__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__custom--AccountingStandardsUpdate606Member_zCi9ay8YvO3k" 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" id="xdx_49C_20240801__20241031__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zHTwCtrxYEZf" 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" id="xdx_49B_20240801__20241031_z3jJ52x3lrSh" 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" id="xdx_49C_20230801__20231031__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__custom--AccountingStandardsUpdate606Member_zNHKql5vypb4" 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" id="xdx_49B_20230801__20231031__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zbqsinMA4ngg" 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" id="xdx_493_20230801__20231031_z77VCwdEEB5c" 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 style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended October 31, 2024</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="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended October 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </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 style="text-align: center"> </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="font-weight: bold; text-align: left">Product Line:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--WAMVMember_znQB9InuUEji" style="vertical-align: bottom; background-color: White"> <td style="width: 22%">WAM-V</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,182</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">65</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,247</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">$</td><td style="width: 9%; text-align: right">81</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">266</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: 9%; text-align: right">347</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__custom--BuoyMember_zko1mzNNqsS9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Buoy</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">171</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: xdx2ixbrl0883">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">171</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">380</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: xdx2ixbrl0886">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">380</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__us-gaap--ServiceMember_zXlNUbc2JuPb" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Services</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"><span style="-sec-ix-hidden: xdx2ixbrl0889">—</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 style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0890">—</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 style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0891">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; 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">162</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"><span style="-sec-ix-hidden: xdx2ixbrl0893">—</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 style="border-bottom: Black 1pt solid; text-align: right">162</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--Revenues_hsrt--ProductOrServiceAxis__us-gaap--ProductMember_zMrEKbwWmy6b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Total</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,353</td><td style="text-align: left"> </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">2,418</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </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">266</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">889</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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><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="font-weight: bold">Region:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--NorthAndSouthAmericaMember_z2R9sjWnxGxh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">North and South America</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,491</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0904">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,491</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">605</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">187</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">792</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__us-gaap--EMEAMember_z2BqCKomFb5i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>EMEA</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">860</td><td style="text-align: left"> </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">925</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">18</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">79</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">97</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--AsiaAndAustraliaMember_zaosyPKrihql" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Asia and Australia</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">2</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"><span style="-sec-ix-hidden: xdx2ixbrl0918">—</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 style="border-bottom: Black 1pt solid; text-align: right">2</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; 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"><span style="-sec-ix-hidden: xdx2ixbrl0920">—</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 style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0921">—</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 style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0922">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--RegionMember_zTZjuowjDYse" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Total</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,353</td><td style="text-align: left"> </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">2,418</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </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">266</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">889</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__custom--RegionMember_zJJdZSybIVb" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,353</td><td style="text-align: left"> </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">2,418</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </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">266</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">889</td><td style="text-align: left"> </td></tr> </table> 3416000 132000 3548000 540000 509000 1049000 171000 171000 630000 630000 482000 482000 3587000 132000 3719000 1652000 509000 2161000 2720000 2720000 1634000 412000 2046000 865000 132000 997000 18000 97000 115000 2000 2000 3587000 132000 3719000 1652000 509000 2161000 3587000 132000 3719000 1652000 509000 2161000 2182000 65000 2247000 81000 266000 347000 171000 171000 380000 380000 162000 162000 2353000 65000 2418000 623000 266000 889000 1491000 1491000 605000 187000 792000 860000 65000 925000 18000 79000 97000 2000 2000 2353000 65000 2418000 623000 266000 889000 2353000 65000 2418000 623000 266000 889000 <p id="xdx_846_eus-gaap--EarningsPerSharePolicyTextBlock_zAPkc2FDmJX2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(k) <span id="xdx_865_zXA9yXHTUlQ9">Net Loss per Common Share</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic and diluted net loss per 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. Due to the Company’s net losses, potentially dilutive securities, consisting of options to purchase shares of common stock, warrants on common stock and unvested RSUs 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 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In computing diluted net loss per share on the Consolidated Statements of Operations, warrants on common stock, options to purchase shares of common stock and unvested RSUs issued to employees and non-employee directors, totaling <span id="xdx_906_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240501__20241031_znRQyKeTqQPh" title="Antidilutive securities excluded from computation of earnings per share, amount">6,080,010</span> and <span id="xdx_908_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20230501__20231031_zBO4IgCjMcR" title="Antidilutive securities excluded from computation of earnings per share, amount">7,294,852</span> as of October 31, 2024 and 2023, respectively, were excluded from each of the computations as the effect would have been anti-dilutive due to the net loss for the periods. Share purchase rights, which include a contingency, are not included in the calculation until the contingency is resolved.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 6080010 7294852 <p id="xdx_847_eus-gaap--GoodwillAndIntangibleAssetsIntangibleAssetsPolicy_zhIMNW4VLjed" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(l) <span id="xdx_86F_zYQfIEAvECm4">Intangibles, net</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets acquired in a business combination are recognized separately from goodwill and are initially recognized at their fair value at the acquisition date (which is regarded as their cost). Intangible assets, including patents, are amortized over the estimated useful life of the asset on a basis that approximates the pattern of economic benefit. The patents, trade name and customer relationship intangibles are being amortized over <span id="xdx_90B_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20241031__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zHVPVH6IjOY2" title="Intangible asset estimated lives">20</span>, <span id="xdx_901_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20241031__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zidhIRTkF0A6" title="Intangible asset estimated lives">12</span> and <span id="xdx_903_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20241031__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zHPaQvXCOMh1" title="Intangible asset estimated lives">10</span> years respectively, which is consistent with the estimated pattern of economic benefit of the assets. The trademark is not subject to amortization.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets are reviewed for impairment if indicators of potential impairment exist. There were no indications of potential impairment of intangible assets for either the six months ended October 31, 2024 or 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> P20Y P12Y P10Y <p id="xdx_84A_eus-gaap--GoodwillAndIntangibleAssetsGoodwillPolicy_zDelBB2R57Pj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(m) <span id="xdx_869_zfh56xhBZKA7">Goodwill</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill is assessed for impairment using a qualitative or quantitative approach. The Company performs an annual impairment test of goodwill and further periodic tests to the extent indicators of impairment develop between annual impairment tests. There were no indications of potential impairment of goodwill identified for the six months ended October 31, 2024 and 2023. Where the Company uses a qualitative analysis, it considers factors that include historical financial performance, macroeconomic and industry conditions, and the legal and regulatory environment. If the qualitative assessment indicates that it is more likely than not that an impairment exists, then a quantitative assessment is also performed. The quantitative assessment requires an analysis of several estimates including future cash flows or income consistent with management’s strategic business plans, annual revenue growth rates and the selection of assumptions underlying a discount rate (weighted average cost of capital) based on market data available at the time to determine the fair value of the Company. If the fair value is less than the carrying amounts, an impairment charge for the difference is recorded. The Company acquired goodwill as part of its purchase of MAR. Management performed its annual qualitative assessment in fiscal year 2024 and determined that it is more likely than not that no goodwill impairment existed as of April 30, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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--IncomeTaxPolicyTextBlock_zg1Cqp12Mqd9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(n) <span id="xdx_862_zcHSXDj9o4kd">Income Taxes</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income taxes are accounted for under (“ASU”) No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”) utilizing the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences and operating loss and tax credit carry forwards are expected to be recovered, settled or utilized. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all the deferred tax assets will not be realized. If such event occurs, a valuation allowance is recorded. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><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; text-align: center"><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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained upon examination. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest related to unrecognized tax benefits in interest expense and penalties in selling, general, and administrative expenses, to the extent incurred. Refer to Note 15 for additional disclosure.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In order to monetize their attributes, the Company has historically sold the Net Operating Losses (NOL’s) and R&amp;D credit generated in New Jersey. The Company has elected to recognize the gain on the sale as a component of tax expense at the time of the sale. Prior to the time of sale, the Company has elected to not factor the expected sales when assessing the assessing the realizability of the related deferred tax assets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_843_ecustom--AccumulatedOtherComprehensiveLossPolicyTextBlock_zmpio16f2fp9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(o) <span id="xdx_862_zD8VXxu89QFd">Accumulated Other Comprehensive Loss</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The functional currency for the Company’s foreign operations is the applicable local currency. The translation from the applicable foreign currencies to U.S. dollars is performed for balance sheet accounts using the exchange rates in effect at the balance sheet date and for revenue and expense accounts using an average exchange rate during the period. The unrealized gains or losses resulting from such translation are included in Accumulated Other Comprehensive Loss within Shareholders’ Equity. For the six months ended October 31, 2024 and 2023, there were no amounts recorded to other comprehensive loss due to limited foreign operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_847_ecustom--WarrantyPolicyTextBlock_zx5uLNIe7Yl6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(p) <span id="xdx_865_zhUdNSLgs6Ig">Warranty</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company does not include a right of return on its products other than rights related to standard warranty provisions that permit repair or replacement of defective goods. Warranty expense incurred to date has not been material.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84C_eus-gaap--ResearchAndDevelopmentExpensePolicy_zjSwOa6V9w25" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(q) <span id="xdx_86D_zLXo2mWMdcOj">Product Development</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Costs related to product development activities by the Company are expensed as incurred. The Company had approximately $<span id="xdx_909_eus-gaap--ResearchAndDevelopmentExpense_pn5n6_c20240501__20241031_zeycxgIq5gga" title="Product development expense">1.3</span> million and $<span id="xdx_90D_eus-gaap--ResearchAndDevelopmentExpense_pn5n6_c20230501__20231031_z8RxAT5oMhhd" title="Product development expense">4.0</span> million in product development expense for the six months ended October 31, 2024 and 2023, respectively. The Company had approximately $<span id="xdx_908_eus-gaap--ResearchAndDevelopmentExpense_pn5n6_c20240801__20241031_ztQKVcrRaf78" title="Product development expense">0.7</span> million and $<span id="xdx_90C_eus-gaap--ResearchAndDevelopmentExpense_pn5n6_c20230801__20231031_zLCWWMMWpnHd" title="Product development expense">2.1</span> million in product development expense for the three months ended October 31, 2024 and 2023, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 1300000 4000000.0 700000 2100000 <p id="xdx_845_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zX6jClGadHV5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(r) <span id="xdx_860_zeJ0qjVjcs7b">Recently Issued Accounting Standards</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”), which improves the transparency of income tax disclosures by requiring companies to (1) disclose consistent categories and greater disaggregation of information in the effective rate reconciliation and (2) provide information on income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, although early adoption is permitted. The guidance should be applied on a prospective basis with the option to apply the standard retrospectively. We are currently evaluating what the potential impact of adopting this ASU 2023-09 could have on our consolidated financial statements and disclosures.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” This ASU improves financial reporting by requiring disclosure of incremental segment information. The new guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The guidance was effective for the Company on May 1, 2024. The Company expects to provide incremental qualitative segment-related disclosures beginning with the Company’s Annual Report on Form 10-K for the fiscal year ended April 30, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2024, the FASB issued ASU No. 2024-3, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” This ASU improves the disclosures about a public business entity’s expenses and address requests from investors for more detailed information about the types of expenses in commonly presented expense captions. The new guidance is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. We are currently evaluating what the potential impact of adopting this ASU 2024-03 could have on our consolidated financial statements and disclosures.</span></p> <p id="xdx_809_ecustom--AccountReceivableContractAssetsAndContractLiabilitiesTextBlock_zg4W3MW9fK3g" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(3)<span id="xdx_82E_z2AAly66jvj4"> Accounts Receivable, Contract Assets and Contract Liabilities</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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_zV8zIUag9fYh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B1_zTM8gUTtSlQb" style="display: none">Schedule of Accounts Receivable, Contract Assets and Contract Liabilities</span></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="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20241031_zvYUmsRT27Rd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240430_zULRod4KPNwa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20230430_zI33HLKrJ8Cl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="10" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_405_eus-gaap--AccountsReceivableNetCurrent_iI_pn3n3_zzWi3H5SDz8f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; 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">1,785</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">796</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">745</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--ContractWithCustomerAssetNetCurrent_iI_pn3n3_zAIGYolBYRa5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Contract assets</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">86</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">18</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">152</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--ContractWithCustomerLiabilityCurrent_iI_pn3n3_z2OqdbZGtUIf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Contract liabilities</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">119</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">302</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,378</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8AC_zM3NUMb4VYxj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 0pt 0pt 0; text-align: left"><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 0pt 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 0pt 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 increase in contract assets from year end is primarily a result of consulting services projects for which revenue was recognized in the current period but has not yet been billed. No impairments to contract assets were incurred during the six months ended October 31, 2024 and 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_ecustom--ContractWithCustomerAssetTableTextBlock_z9JnlKwftVg9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><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 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BF_zy6aanMuNK66" style="display: none">Schedule of Significant Changes in Contract Assets</span></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="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240501__20241031_zj5y1z9QJaK1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended<br/> October 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20230501__20231031_zOhli14ILZJ4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended<br/> October 31, 2023</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_404_ecustom--TransferredToReceivablesFromContractAssetsRecognized_iN_pn3n3_di_msIDICWzZOT_zKlwbainwso1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Transferred to receivables from contract assets recognized</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(583</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(745</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_409_ecustom--RevenueRecognizedAndNotBilled_pn3n3_maIDICWzZOT_zhvDnDbSriNb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Revenue recognized and not billed</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">651</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">919</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--IncreaseDecreaseInContractWithCustomerAsset_iT_pn3n3_mtIDICWzZOT_zwVmVDyj6V4a" 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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">68</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">174</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AE_zzWJUr91OFN4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: left"><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 0pt 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 0pt 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 decrease in contract liabilities from year end is primarily due to converting previous payments collected to recognized revenue in the current year.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_892_ecustom--ContractWithCustomerLiabilitiesTableTextBlock_zhU2H4eBLWvd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><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> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B9_zKO17io0HL14" style="display: none">Schedule of Significant Changes in Contract Liabilities</span></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="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20240501__20241031_zZOs0YGtnlDi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended<br/> October 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20230501__20231031_zkt3eumoEkAa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended<br/> October 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_407_ecustom--ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance_iN_pn3n3_di_msIDICWz3fD_zHGwJuvoNfMj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Revenue recognized</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(1,515</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(762</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40E_ecustom--PaymentsCollectedForWhichRevenueHasNotBeenRecognized_pn3n3_maIDICWz3fD_zG7asXfRh9D8" 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">1,332</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">548</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--IncreaseDecreaseInContractWithCustomerLiability_iT_pn3n3_mtIDICWz3fD_zFAhxznhHEDb" 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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(183</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(214</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <p id="xdx_8A8_zJ7mM2Ps76Qb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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_zV8zIUag9fYh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B1_zTM8gUTtSlQb" style="display: none">Schedule of Accounts Receivable, Contract Assets and Contract Liabilities</span></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="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20241031_zvYUmsRT27Rd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240430_zULRod4KPNwa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20230430_zI33HLKrJ8Cl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="10" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_405_eus-gaap--AccountsReceivableNetCurrent_iI_pn3n3_zzWi3H5SDz8f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Accounts receivable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,785</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">796</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">745</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--ContractWithCustomerAssetNetCurrent_iI_pn3n3_zAIGYolBYRa5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Contract assets</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">86</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">18</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">152</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--ContractWithCustomerLiabilityCurrent_iI_pn3n3_z2OqdbZGtUIf" 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">$</td><td style="text-align: right">119</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">302</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,378</td><td style="text-align: left"> </td></tr> </table> 1785000 796000 745000 86000 18000 152000 119000 302000 1378000 <p id="xdx_895_ecustom--ContractWithCustomerAssetTableTextBlock_z9JnlKwftVg9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><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 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BF_zy6aanMuNK66" style="display: none">Schedule of Significant Changes in Contract Assets</span></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="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240501__20241031_zj5y1z9QJaK1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended<br/> October 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20230501__20231031_zOhli14ILZJ4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended<br/> October 31, 2023</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_404_ecustom--TransferredToReceivablesFromContractAssetsRecognized_iN_pn3n3_di_msIDICWzZOT_zKlwbainwso1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Transferred to receivables from contract assets recognized</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(583</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(745</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_409_ecustom--RevenueRecognizedAndNotBilled_pn3n3_maIDICWzZOT_zhvDnDbSriNb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Revenue recognized and not billed</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">651</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">919</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--IncreaseDecreaseInContractWithCustomerAsset_iT_pn3n3_mtIDICWzZOT_zwVmVDyj6V4a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net change in contract assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">68</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">174</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 583000 745000 651000 919000 68000 174000 <p id="xdx_892_ecustom--ContractWithCustomerLiabilitiesTableTextBlock_zhU2H4eBLWvd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><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> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B9_zKO17io0HL14" style="display: none">Schedule of Significant Changes in Contract Liabilities</span></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="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20240501__20241031_zZOs0YGtnlDi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended<br/> October 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20230501__20231031_zkt3eumoEkAa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended<br/> October 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_407_ecustom--ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance_iN_pn3n3_di_msIDICWz3fD_zHGwJuvoNfMj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Revenue recognized</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(1,515</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(762</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40E_ecustom--PaymentsCollectedForWhichRevenueHasNotBeenRecognized_pn3n3_maIDICWz3fD_zG7asXfRh9D8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Payments collected for which revenue has not been recognized</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,332</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">548</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--IncreaseDecreaseInContractWithCustomerLiability_iT_pn3n3_mtIDICWz3fD_zFAhxznhHEDb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net change in contract liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(183</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">(214</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> 1515000 762000 1332000 548000 -183000 -214000 <p id="xdx_80B_eus-gaap--InventoryDisclosureTextBlock_zbZfKWpqyLoa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(4) <span id="xdx_829_zZQ4qKfyzy1g">Inventory</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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_zRB7TCnwJKC4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B5_zMOuy08ESTm" style="display: none">Schedule of Inventory</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: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20241031_z9peKzhQnRl7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 31, 2024</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_20240430_ztUo0oXzqn1a" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </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_zEGYqArMYQM2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Raw Materials</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,401</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,298</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--InventoryWorkInProcess_iI_pn3n3_maINzERb_zCckasNAGxHc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Work in Process</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">373</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">397</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--InventoryFinishedGoods_iI_pn3n3_maINzERb_zBu0bFET8cwh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Finished Products</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1020">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">136</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--InventoryNet_iTI_pn3n3_mtINzERb_zHNgkxrkuk6c" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventory, net</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,774</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">4,831</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AE_zwegXpdNmKB" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s raw materials balance represents the majority of the inventory as the Company orders parts in quantity to fill orders. Work in process and finished products typically represent smaller portions of inventory as the Company does not historically hold finished products with the exception of assets transitioning to the lease fleet. The Company typically ships finished products as they are completed.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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_zRB7TCnwJKC4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B5_zMOuy08ESTm" style="display: none">Schedule of Inventory</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: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20241031_z9peKzhQnRl7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 31, 2024</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_20240430_ztUo0oXzqn1a" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </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_zEGYqArMYQM2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Raw Materials</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,401</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,298</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--InventoryWorkInProcess_iI_pn3n3_maINzERb_zCckasNAGxHc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Work in Process</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">373</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">397</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--InventoryFinishedGoods_iI_pn3n3_maINzERb_zBu0bFET8cwh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Finished Products</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1020">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">136</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--InventoryNet_iTI_pn3n3_mtINzERb_zHNgkxrkuk6c" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventory, net</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,774</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">4,831</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 4401000 4298000 373000 397000 136000 4774000 4831000 <p id="xdx_800_eus-gaap--OtherCurrentAssetsTextBlock_zvi7lmRKeLKi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(5) <span id="xdx_824_zN8Y9fP1iEe3">Other Current Assets</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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--ScheduleOfOtherCurrentAssetsTableTextBlock_z69JfxxaP5v9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 October 31, 2024 and April 30, 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B6_zIg5ZMMTGpgc" style="display: none">Schedule of Other Current Assets</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: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20241031_zQSrfFMPtmD3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20240430_zT57LiaXdyP8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_403_eus-gaap--PrepaidInsurance_iI_pn3n3_maOACzyhm_zKcYi8CBOcy1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Prepaid insurance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">88</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: 16%; text-align: right">202</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--PrepaidSoftwareAndLicenses_pn3n3_maOACzyhm_zZYSs66DSao2" 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">128</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">224</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--PrepaidSalesAndMarketing_iI_pn3n3_maOACzyhm_zM1mOyazVrNb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid sales &amp; marketing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">38</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">124</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--PrepaidProjectCosts_iI_pn3n3_maOACzyhm_zGqgHQ8K6Yh8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid project costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">117</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">578</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--PrepaidInventoryMaterials_iI_pn3n3_maOACzyhm_zTAcDG4cGDSh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid inventory materials</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1042">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">414</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OtherPrepaidExpenseCurrent_iI_pn3n3_maOACzyhm_zW3DozhQoHmg" 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">312</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">205</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OtherAssetsCurrent_iTI_pn3n3_mtOACzyhm_zmQtasNyQshi" 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">683</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">1,747</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A8_z4GS2hp3zpAe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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--ScheduleOfOtherCurrentAssetsTableTextBlock_z69JfxxaP5v9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 October 31, 2024 and April 30, 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B6_zIg5ZMMTGpgc" style="display: none">Schedule of Other Current Assets</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: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20241031_zQSrfFMPtmD3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20240430_zT57LiaXdyP8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_403_eus-gaap--PrepaidInsurance_iI_pn3n3_maOACzyhm_zKcYi8CBOcy1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Prepaid insurance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">88</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: 16%; text-align: right">202</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--PrepaidSoftwareAndLicenses_pn3n3_maOACzyhm_zZYSs66DSao2" 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">128</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">224</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--PrepaidSalesAndMarketing_iI_pn3n3_maOACzyhm_zM1mOyazVrNb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid sales &amp; marketing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">38</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">124</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--PrepaidProjectCosts_iI_pn3n3_maOACzyhm_zGqgHQ8K6Yh8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid project costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">117</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">578</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--PrepaidInventoryMaterials_iI_pn3n3_maOACzyhm_zTAcDG4cGDSh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid inventory materials</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1042">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">414</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OtherPrepaidExpenseCurrent_iI_pn3n3_maOACzyhm_zW3DozhQoHmg" 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">312</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">205</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OtherAssetsCurrent_iTI_pn3n3_mtOACzyhm_zmQtasNyQshi" 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">683</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">1,747</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 88000 202000 128000 224000 38000 124000 117000 578000 414000 312000 205000 683000 1747000 <p id="xdx_809_eus-gaap--PropertyPlantAndEquipmentDisclosureTextBlock_zQGSreQhRqvc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(6) <span id="xdx_827_zgwXlMoS6qZb">Property and Equipment, net</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_eus-gaap--PropertyPlantAndEquipmentTextBlock_zxHuenh1S383" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 October 31, 2024 and April 30, 2024 consisted of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BA_zE6v3JSZRKwi" style="display: none">Schedule of Components of Property and Equipment</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: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20241031_zkRqTWcDtyRc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20240430_zGJu41o5qWD1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </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_z7HuTgVVwxw8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,569</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: 16%; text-align: right">1,530</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerEquipmentAndSoftwareMember_zUZKMu1rkFE" 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">790</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">790</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OfficeFurnitureAndEquipmentMember_zepQmqEdXlog" 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">425</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">422</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zVoSzpBCZ6t1" 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">683</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">683</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LeasedWAMVsMember_z2wJpeWuO50e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Leased WAM-V’s</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,901</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,547</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LeasedBuoysMember_zqq4rV0sTpj1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Leased Buoys</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">353</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">444</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_maPPAENzI8F_z8Xb8mhwVEli" 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">Property and equipment, gross</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,721</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,416</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_msPPAENzI8F_zi6iEReHefKd" style="vertical-align: bottom; background-color: White"> <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">(2,429</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">(1,973</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pn3n3_mtPPAENzI8F_zPZxAfd2VLU3" 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">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">3,292</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">3,443</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A6_zYkfTYcrG91e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Leased WAM-V’s and buoys represent fixed assets that are associated with underlying operating leases with customers as discussed in the revenue recognition section related to ASC 842.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation expense was approximately $<span id="xdx_90A_eus-gaap--Depreciation_c20240501__20241031_zZwHrnCTB9b">456,000</span> and $<span id="xdx_90C_eus-gaap--Depreciation_c20230501__20231031_zPsJ8Xiia5Uf">172,000</span> for the six-month periods ended October 31, 2024 and 2023, respectively. Depreciation expense was approximately $<span id="xdx_90C_eus-gaap--Depreciation_c20240801__20241031_z8kWDngSuGhe">252,000</span> and $<span id="xdx_90D_eus-gaap--Depreciation_c20230801__20231031_zkIc8FpgvEK9">101,000</span> for the three-month periods ended October 31, 2024 and 2023, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_89A_eus-gaap--PropertyPlantAndEquipmentTextBlock_zxHuenh1S383" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 October 31, 2024 and April 30, 2024 consisted of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BA_zE6v3JSZRKwi" style="display: none">Schedule of Components of Property and Equipment</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: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20241031_zkRqTWcDtyRc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20240430_zGJu41o5qWD1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </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_z7HuTgVVwxw8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,569</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: 16%; text-align: right">1,530</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerEquipmentAndSoftwareMember_zUZKMu1rkFE" 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">790</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">790</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OfficeFurnitureAndEquipmentMember_zepQmqEdXlog" 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">425</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">422</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zVoSzpBCZ6t1" 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">683</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">683</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LeasedWAMVsMember_z2wJpeWuO50e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Leased WAM-V’s</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,901</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,547</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LeasedBuoysMember_zqq4rV0sTpj1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Leased Buoys</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">353</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">444</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_maPPAENzI8F_z8Xb8mhwVEli" 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">Property and equipment, gross</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,721</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,416</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_msPPAENzI8F_zi6iEReHefKd" style="vertical-align: bottom; background-color: White"> <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">(2,429</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">(1,973</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pn3n3_mtPPAENzI8F_zPZxAfd2VLU3" 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">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">3,292</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">3,443</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 1569000 1530000 790000 790000 425000 422000 683000 683000 1901000 1547000 353000 444000 5721000 5416000 2429000 1973000 3292000 3443000 456000 172000 252000 101000 <p id="xdx_80A_eus-gaap--IntangibleAssetsDisclosureTextBlock_zHVjp8x1vugc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(7) <span id="xdx_825_zNTNPQ25tsye">Intangible Assets</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_89D_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_zK497ZVBYsVb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 October 31, 2024 and April 30, 2024 consisted of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BF_z5DWO085Z8Eg" style="display: none">Schedule of Components of Intangible Assets</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: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20241031_znWyBj2W0Ji5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20240430_zCzAn01k4yyg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </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_zNd3XcXDh1Vb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Patents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; 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: 16%; 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_zANF8cbIJQmf" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Trademarks</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">2,769</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">2,769</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FiniteLivedIntangibleAssetsGross_iTI_pn3n3_mtFLIAGzcoU_maFLIANzod8_z43GQEbFYbP2" 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">5,498</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,498</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_msFLIANzod8_zG4GmIgeU56j" 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">(1,942</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">(1,876</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pn3n3_mtFLIANzod8_z6lJj96u2eCj" 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">3,556</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">3,622</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AC_zdSCeBWiYZaf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortization expense was approximately $<span id="xdx_90F_eus-gaap--AmortizationOfIntangibleAssets_c20240501__20241031_zWa7i8KQFo0a" title="Amortization expense">66,000</span> and $<span id="xdx_90B_eus-gaap--AmortizationOfIntangibleAssets_c20230501__20231031_zmSic0YFnZV4" title="Amortization expense">80,000</span> for the six-month periods ended October 31, 2024 and 2023, respectively. Amortization expense was approximately $<span id="xdx_909_eus-gaap--AmortizationOfIntangibleAssets_c20240801__20241031_zrLEKscmqWAg" title="Amortization expense">33,000</span> and $<span id="xdx_90E_eus-gaap--AmortizationOfIntangibleAssets_c20230801__20231031_zCQ9919IXhR8" title="Amortization expense">40,000</span> for the three-month periods ended October 31, 2024 and 2023, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_zK497ZVBYsVb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 October 31, 2024 and April 30, 2024 consisted of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BF_z5DWO085Z8Eg" style="display: none">Schedule of Components of Intangible Assets</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: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20241031_znWyBj2W0Ji5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20240430_zCzAn01k4yyg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </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_zNd3XcXDh1Vb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Patents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; 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: 16%; 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_zANF8cbIJQmf" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Trademarks</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">2,769</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">2,769</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FiniteLivedIntangibleAssetsGross_iTI_pn3n3_mtFLIAGzcoU_maFLIANzod8_z43GQEbFYbP2" 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">5,498</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,498</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_msFLIANzod8_zG4GmIgeU56j" 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">(1,942</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">(1,876</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pn3n3_mtFLIANzod8_z6lJj96u2eCj" 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">3,556</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">3,622</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 2729000 2729000 2769000 2769000 5498000 5498000 1942000 1876000 3556000 3622000 66000 80000 33000 40000 <p id="xdx_80D_eus-gaap--GoodwillDisclosureTextBlock_zVdDNPh8G1yk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(8) <span id="xdx_82C_zvKLkj2bfaxi">Goodwill</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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_908_eus-gaap--Goodwill_iI_pn5n6_c20211130__dei--LegalEntityAxis__custom--MarineAdvancedRoboticsIncMember_zJxTVfPNHdp1" title="Goodwill">8.5</span> million was recognized in November 2021 related to the acquisition of MAR. There have been <span id="xdx_902_eus-gaap--GoodwillImpairmentLoss_do_c20240501__20241031_zTprSbV0teUf" title="Impairment of goodwill"><span id="xdx_908_eus-gaap--GoodwillImpairmentLoss_do_c20230501__20231031_zOcaYuZiwWg7" title="Impairment of goodwill">no</span></span> additions to, or any impairment of, goodwill during the six-month periods ended October 31, 2024 and 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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_802_eus-gaap--LesseeOperatingLeasesTextBlock_zA7fuAeOjWHi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(9) <span id="xdx_824_zU8bZZJg24Nc">Leases</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Lessor Information</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of October 31, 2024 and April 30, 2024, the Company had three WAM-V’s leased to customers which have been classified as operating leases per accounting guidance contained within ASC Topic 842, “Leases”, respectively. The remaining term on these operating leases is less than <span id="xdx_903_eus-gaap--LesseeOperatingLeaseRemainingLeaseTerm_iI_dtY_c20241031_zdCH2SyWPdr9" title="Lessee operating lease remaining term"><span id="xdx_900_eus-gaap--LesseeOperatingLeaseRemainingLeaseTerm_iI_dtY_c20240430_zawsBK5myxgf" title="Lessee operating lease remaining term">2</span></span> years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: left"><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 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Right-of-use assets 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 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><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 0pt 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. In February 2024, the Company extended the lease for its main headquarters in Monroe, NJ to April 30, 2026. The lease is classified as an operating lease and is included in right-of-use assets, net, right-of-use liabilities – current portion, and right-of-use liabilities- less current portion on the Company’s Consolidated Balance Sheets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company also has a lease for office space located in Richmond, California. This lease commenced in April of 2023 and will continue for 62 months and set to expire in June of 2028. The lease is classified as an operating lease and is included in right-of-use assets, right-of-use liabilities- current and right-of-use liabilities- long-term on the Company’s Consolidated Balance Sheets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Variable lease expenses, if any, are recorded as incurred. The operating lease cash flow payments for the three months ended October 31, 2024 and 2023 were $<span id="xdx_907_eus-gaap--OperatingLeaseExpense_c20240801__20241031_zHHCjzmmjgK7" title="Operating lease expense">182,000</span> and $<span id="xdx_900_eus-gaap--OperatingLeaseExpense_c20230801__20231031_zXgWQlpye6y7" title="Operating lease expense">186,000</span>, respectively. The operating lease cash flow payments for the six months ended October 31, 2024 and 2023 were $<span id="xdx_90B_eus-gaap--OperatingLeaseExpense_c20240501__20241031_zN4K3fKPUcHa" title="Operating lease expense">365,000</span> and $<span id="xdx_900_eus-gaap--OperatingLeaseExpense_c20230501__20231031_zbEHVsjgbxah" title="Operating lease expense">371,000</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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--LeaseCostTableTextBlock_zseMyIcJm69d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The components of lease expense which are included in our operating expenses in the Consolidated Statement of Operations for the three and six months ended October 31, 2024 and 2023 were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BE_zJafF2vdjQ25" style="display: none">Schedule of Operating Lease Costs</span></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 style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20240801__20241031_zq3rRij75f4c" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20230801__20231031_z22CL9Rgpk9h" 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" id="xdx_496_20240501__20241031_zRKxaX1sDhg7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20230501__20231031_zjCGeOw7kWWl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </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 October 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">Six months ended October 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </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">2024</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">2024</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></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </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_409_eus-gaap--OperatingLeaseCost_pn3n3_maLCzBwM_zZA898E4K9hg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Operating lease cost</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">260</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">159</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">521</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">316</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ShortTermLeaseCost_pn3n3_maLCzBwM_zHjN5E1kUhPh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Short-term lease cost</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">20</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">16</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">40</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LeaseCost_iT_pn3n3_mtLCzBwM_zz1wFxRl3gZ9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease cost</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">268</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">179</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">537</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">356</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A4_zAXUNLMUyVe1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_899_ecustom--ScheduleOfRightofUseAssetsAndLeaseLiabilitiesTableTextBlock_zGeoG3RZrDba" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 October 31, 2024 was as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B2_zBJxQHoud9Fh" style="display: none">Schedule of Right-of use Assets and Lease Liabilities</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </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: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20241031_z1MP6SeQWdSa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: center">(in thousands)</td><td> </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_40E_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_zIqfwxqtPoR7" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: left; padding-bottom: 2.5pt">Operating right-of-use assets, 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: 16%; text-align: right">1,987</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_40A_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pn3n3_maOLLzIil_zHlmNRbLm3Jl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Right-of-use liabilities- current</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,081</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pn3n3_maOLLzIil_zZRdjcC9HGDk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Right-of-use liabilities- long term</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,245</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OperatingLeaseLiability_iTI_pn3n3_mtOLLzIil_zAOBulS7PD84" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,326</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_909_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20241031_zsliLAcDsLme" title="Weighted average remaining lease term- operating leases">2.46</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_906_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20241031_z9x1cajJd2ea" title="Weighted average discount rate- operating leases">8.4</span></td><td style="text-align: left">%</td></tr> </table> <p id="xdx_8A7_zeJk5NPNcww5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zBmaLCzB8DS5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BE_z8Zh71JaHvVd" style="display: none">Schedule of Future Minimum Lease Payments Under Operating Lease</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </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_49D_20241031_zy10gSdA489" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_pn3n3_maLOLLPzbOq_zXspNsfdgvG4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Remainder of fiscal year 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">614</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maLOLLPzbOq_zlPNBs33hXAe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,847</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_maLOLLPzbOq_zItQKyEtFwOj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">329</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_maLOLLPzbOq_zLwBMls4lDjk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">333</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_maLOLLPzbOq_z5OyVJSEdID3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour_iI_pn3n3_maLOLLPzbOq_zEUl6MB3YLC" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">thereafter</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"><span style="-sec-ix-hidden: xdx2ixbrl1178">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_mtLOLLPzbOq_zxWvMHqIkhe6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total future minimum lease payments</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,151</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_zPVrMGhUHx3a" style="vertical-align: bottom; background-color: White"> <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">(825</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--OperatingLeaseLiability_iI_pn3n3_zKDGMhQwYm25" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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">2,326</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A3_zQIh2borhZLk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> P2Y P2Y 182000 186000 365000 371000 <p id="xdx_89F_eus-gaap--LeaseCostTableTextBlock_zseMyIcJm69d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The components of lease expense which are included in our operating expenses in the Consolidated Statement of Operations for the three and six months ended October 31, 2024 and 2023 were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BE_zJafF2vdjQ25" style="display: none">Schedule of Operating Lease Costs</span></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 style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20240801__20241031_zq3rRij75f4c" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20230801__20231031_z22CL9Rgpk9h" 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" id="xdx_496_20240501__20241031_zRKxaX1sDhg7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20230501__20231031_zjCGeOw7kWWl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </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 October 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">Six months ended October 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </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">2024</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">2024</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></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </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_409_eus-gaap--OperatingLeaseCost_pn3n3_maLCzBwM_zZA898E4K9hg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Operating lease cost</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">260</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">159</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">521</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">316</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ShortTermLeaseCost_pn3n3_maLCzBwM_zHjN5E1kUhPh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Short-term lease cost</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">20</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">16</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">40</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LeaseCost_iT_pn3n3_mtLCzBwM_zz1wFxRl3gZ9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease cost</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">268</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">179</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">537</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">356</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 260000 159000 521000 316000 8000 20000 16000 40000 268000 179000 537000 356000 <p id="xdx_899_ecustom--ScheduleOfRightofUseAssetsAndLeaseLiabilitiesTableTextBlock_zGeoG3RZrDba" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 October 31, 2024 was as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B2_zBJxQHoud9Fh" style="display: none">Schedule of Right-of use Assets and Lease Liabilities</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </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: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20241031_z1MP6SeQWdSa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: center">(in thousands)</td><td> </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_40E_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_zIqfwxqtPoR7" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: left; padding-bottom: 2.5pt">Operating right-of-use assets, 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: 16%; text-align: right">1,987</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_40A_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pn3n3_maOLLzIil_zHlmNRbLm3Jl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Right-of-use liabilities- current</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,081</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pn3n3_maOLLzIil_zZRdjcC9HGDk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Right-of-use liabilities- long term</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,245</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OperatingLeaseLiability_iTI_pn3n3_mtOLLzIil_zAOBulS7PD84" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,326</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_909_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20241031_zsliLAcDsLme" title="Weighted average remaining lease term- operating leases">2.46</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_906_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20241031_z9x1cajJd2ea" title="Weighted average discount rate- operating leases">8.4</span></td><td style="text-align: left">%</td></tr> </table> 1987000 1081000 1245000 2326000 P2Y5M15D 0.084 <p id="xdx_896_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zBmaLCzB8DS5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BE_z8Zh71JaHvVd" style="display: none">Schedule of Future Minimum Lease Payments Under Operating Lease</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </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_49D_20241031_zy10gSdA489" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_pn3n3_maLOLLPzbOq_zXspNsfdgvG4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Remainder of fiscal year 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">614</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maLOLLPzbOq_zlPNBs33hXAe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,847</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_maLOLLPzbOq_zItQKyEtFwOj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">329</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_maLOLLPzbOq_zLwBMls4lDjk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">333</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_maLOLLPzbOq_z5OyVJSEdID3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour_iI_pn3n3_maLOLLPzbOq_zEUl6MB3YLC" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">thereafter</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"><span style="-sec-ix-hidden: xdx2ixbrl1178">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_mtLOLLPzbOq_zxWvMHqIkhe6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total future minimum lease payments</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,151</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_zPVrMGhUHx3a" style="vertical-align: bottom; background-color: White"> <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">(825</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--OperatingLeaseLiability_iI_pn3n3_zKDGMhQwYm25" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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">2,326</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 614000 1847000 329000 333000 28000 3151000 825000 2326000 <p id="xdx_809_eus-gaap--AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_zNOwUHwIQ4Ai" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(10) <span id="xdx_828_z64VQ04PCGo6">Accrued Expenses</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_898_eus-gaap--ScheduleOfAccruedLiabilitiesTableTextBlock_zFSaTWyQDZEb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued expenses consisted of the following at October 31, 2024 and April 30, 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BC_zOUlilOXqnIi" style="display: none">Schedule of Accrued Expenses</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </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: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20241031_zWA7ulvKwWOi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 31, 2024</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_20240430_zRzAe26JYx37" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</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--OtherEmployeeRelatedLiabilitiesCurrent_iI_pn3n3_maCzsTG_z6lJePgbQWXb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Employee incentive payments</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,078</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: 16%; text-align: right">1,271</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AccruedSalariesCurrent_iI_pn3n3_maCzsTG_zrZrpGsfnvZd" 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">130</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">369</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AccruedProfessionalFeesCurrent_iI_pn3n3_maCzsTG_zW4Hpoa4LgHc" 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">5</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: xdx2ixbrl1197">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_pn3n3_maCzsTG_zu32Cx4LemAe" 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">215</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">147</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AccruedLiabilitiesCurrent_iTI_pn3n3_mtCzsTG_z1yHQ4yjl3cc" 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">1,428</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">1,787</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A7_z7iljovtEVma" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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--ScheduleOfAccruedLiabilitiesTableTextBlock_zFSaTWyQDZEb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued expenses consisted of the following at October 31, 2024 and April 30, 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BC_zOUlilOXqnIi" style="display: none">Schedule of Accrued Expenses</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </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: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20241031_zWA7ulvKwWOi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 31, 2024</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_20240430_zRzAe26JYx37" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">April 30, 2024</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--OtherEmployeeRelatedLiabilitiesCurrent_iI_pn3n3_maCzsTG_z6lJePgbQWXb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Employee incentive payments</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,078</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: 16%; text-align: right">1,271</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AccruedSalariesCurrent_iI_pn3n3_maCzsTG_zrZrpGsfnvZd" 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">130</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">369</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AccruedProfessionalFeesCurrent_iI_pn3n3_maCzsTG_zW4Hpoa4LgHc" 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">5</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: xdx2ixbrl1197">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_pn3n3_maCzsTG_zu32Cx4LemAe" 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">215</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">147</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AccruedLiabilitiesCurrent_iTI_pn3n3_mtCzsTG_z1yHQ4yjl3cc" 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">1,428</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">1,787</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 1078000 1271000 130000 369000 5000 215000 147000 1428000 1787000 <p id="xdx_803_ecustom--WarrantDisclosureTextBlock_zitOGdmyWXPf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(11) <span id="xdx_824_zp9o0NeEVdCa">Warrants</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: left"><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 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The underwritten public offering from April 2019 included the issuance of common stock warrants to purchase up to <span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20190430__us-gaap--SubsidiarySaleOfStockAxis__custom--UnderwrittenPublicOfferingMember_z6ca8QuWGMJ9" title="Warrants to purchase common stock exercised">4,927,680</span> shares of common stock that had an exercise price of $<span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20190430__us-gaap--SubsidiarySaleOfStockAxis__custom--UnderwrittenPublicOfferingMember_zQKkwLW3Jcx3" title="Exercise price of warrants">3.85</span> per share and expired <span id="xdx_900_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dc_c20190430__us-gaap--SubsidiarySaleOfStockAxis__custom--UnderwrittenPublicOfferingMember_zAvz1ixScnS9" title="Warrants and rights outstanding, term">five years</span> from the issuance date. As of April 30, 2024, common warrants to purchase <span id="xdx_904_ecustom--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRightsExercised_iI_pid_c20240430_zxL9Ga2WE9hi" title="Warrants to purchase common stock exercised">732,500</span> shares of the common stock had been exercised. The remaining warrants expired prior to April 30, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> 4927680 3.85 P5Y 732500 <p id="xdx_80C_eus-gaap--DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_zmHi9hQeFzT2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(12) <span id="xdx_822_zGT5BnRt0Al1">Share-Based Compensation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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_pid_c20151231__us-gaap--PlanNameAxis__custom--TwoThousandAndFifteenOmnibusIncentivePlanMember_zUwkgXIpbBSl" 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. At subsequent shareholder meetings, including most recently in February 2024, the shareholders approved an aggregate increase to the 2015 Plan of <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized_c20240201__20240229__us-gaap--PlanNameAxis__custom--TwoThousandAndFifteenOmnibusIncentivePlanMember_zMJ3zXPdXmi5" title="Share-based compensation arrangement shares authorized increase">2,900,000</span> shares resulting in total shares authorized for issuance of <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pid_c20241031__us-gaap--PlanNameAxis__custom--TwoThousandAndFifteenOmnibusIncentivePlanMember_zI1dLYb6HX2l" title="Share-based compensation arrangement shares authorized">7,282,036</span> as of October 31, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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_900_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20180118__us-gaap--PlanNameAxis__custom--TwoThousandAndEighteenInducementPlanMember_zWQuR4VN7mS">25,000 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares of common stock for issuance under the Inducement Plan in accordance with Rule 711(a) of the NYSE American Company Guide. On February 9, 2022, the 2018 Inducement Plan was amended to increase the authorized shares by <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pid_c20220209__us-gaap--PlanNameAxis__custom--TwoThousandAndEighteenInducementPlanMember_z32vXkEMbWi8">250,000 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">to <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized_pid_c20220209__20220209__us-gaap--PlanNameAxis__custom--TwoThousandAndEighteenInducementPlanMember_zxV1GHBBi7r6" title="Share-based compensation arrangement shares authorized increase">275,000</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: left"><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 0pt 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 0pt 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 the 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. The Company did not grant any stock options during the six months ended October 31, 2024 and 2023, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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_zo5ca7nPwOC7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of stock options under the Stock Incentive Plans is detailed in the following table.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B0_zXQactUMMsD8" style="display: none">Schedule of Stock Option Activity</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </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: center"> </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 0pt 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 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Underlying 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 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted Average</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Exercise 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 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted Average</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Contractual Term</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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: 46%">Outstanding as of April 30, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20240501__20241031_ziGxB0wCnBD" style="width: 14%; text-align: right" title="Shares Underlying Options Outstanding, beginning">734,543</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--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20240501__20241031_zM58qtBVzOHb" style="width: 14%; text-align: right" title="Weighted Average Exercise Price, Beginning balance">2.12</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_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20220501__20230430_zJeEFiiUqtX9" title="Weighted Average Remaining Contractual Term (In Years), Beginning">7.6</span></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_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20240501__20241031_zCs0f4JHEcDl" style="text-align: right" title="Shares underlying Options Outstanding, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1235">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20240501__20241031_zsfi5j0uIwl8" style="text-align: right" title="Weighted Average Exercise Price, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1237">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_c20240501__20241031_zXOISDxqaNc9" style="text-align: right" title="Shares Underlying Options ,Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1239">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20240501__20241031_z2fR5D1LO9l5" style="text-align: right" title="Weighted Average Exercise Price, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1241">—</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="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_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_pid_di_c20240501__20241031_zSYzD8VR9Mla" style="border-bottom: Black 1pt solid; text-align: right" title="Shares Underlying Options, Cancelled/forfeited">(222,957</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_pid_c20240501__20241031_zh7I777e1Vcd" style="padding-bottom: 1pt; text-align: right" title="Weighted Average Exercise Price, Cancelled/forfeited">1.20</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding as of October 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20240501__20241031_z9RhuRj31Jf6" style="border-bottom: Black 2.5pt double; text-align: right" title="Shares Underlying Options, ending">511,586</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20240501__20241031_z6C0xGcnnm5k" style="padding-bottom: 2.5pt; text-align: right" title="Weighted average exercise price, ending balance">2.52</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 style="padding-bottom: 2.5pt; text-align: right"><span id="xdx_901_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240501__20241031_zYRi8wSdzRNk" title="Weighted Average Remaining Contractual Term (In Years), Ending">6.8</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Exercisable as of October 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_pid_c20241031_zpS4yj6NTyvd" style="border-bottom: Black 2.5pt double; text-align: right" title="Shares Underlying Options, Exercisable at Ending">347,714</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_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_pid_c20241031_zeUD33rwTEdc" style="padding-bottom: 2.5pt; text-align: right" title="Weighted Average Exercise Price, Exercisable at ending">3.30</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 style="padding-bottom: 2.5pt; text-align: right"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20240501__20241031_z8wOaThg69zi" title="Weighted Average Remaining Contractual Term (In Years), Exercisable at Ending">6.3</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AC_zRyUutP1Gw76" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of October 31, 2024, the total intrinsic value of outstanding and exercisable options was approximately <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_pp0p0_dc_c20241031__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zbU6qfCZ5hlh" title="Intrinsic value of outstanding options"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iI_pp0p0_dc_c20241031__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zCjftVgFjppi" title="Intrinsic value of exercisable options">zero</span></span>. As of October 31, 2024, approximately <span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_iI_pid_c20241031__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z4Hmib0Kh279" title="Options unvested">164,000</span> options were unvested, which had an intrinsic value of <span id="xdx_90A_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedIntrinsicValue_iI_pp0p0_dc_c20241031__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zMJ0ifzouWRh" title="Unvested options intrinsic value">zero</span> and a weighted average remaining contractual term of <span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1_pid_dtY_c20240501__20241031__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zbYSpQ9BLW35" title="Weighted average remaining contractual term">8.0</span> years. There was approximately $<span id="xdx_903_eus-gaap--AllocatedShareBasedCompensationExpense_c20240501__20241031__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zwPlQ7xuHHwe" title="Share-based payment arrangement, expense">26,000</span> and $<span id="xdx_90F_eus-gaap--AllocatedShareBasedCompensationExpense_c20230501__20231031__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z5rsKBqFOlL5" title="Share-based payment arrangement, expense">98,000</span> of total recognized compensation cost related to stock options during each of the six months ended October 31, 2024 and 2023, respectively. There was approximately $<span id="xdx_90C_eus-gaap--AllocatedShareBasedCompensationExpense_c20240801__20241031__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zpVJohWNxO62" title="Share-based payment arrangement, expense">7,000</span> and $<span id="xdx_90F_eus-gaap--AllocatedShareBasedCompensationExpense_c20230801__20231031__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zonU6ULkVYU2" title="Share-based payment arrangement, expense">20,000</span> of total recognized compensation cost related to stock options during each of the three months ended October 31, 2024 and 2023, respectively. As of October 31, 2024, there was approximately $<span id="xdx_90C_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions_iI_c20241031__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zu4q1NBHmK8a" title="Unrecognized compensation cost related to non-vested stock">56,000</span> 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_c20240501__20241031_zYEKEWSqfxGa" title="Share-based compensation of weighted-average period">1.0</span> years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Performance Stock Units</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of October 31, 2024, there were no performance stock units outstanding. As of April 30, 2023 there were <span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_iI_pid_c20230430__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zJ8GLAk6MBwg" title="Options unvested">66,667</span> units outstanding which were all canceled during the quarter ended July 31, 2023. There was approximately <span id="xdx_906_eus-gaap--AllocatedShareBasedCompensationExpense_dc_c20240501__20241031__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zn7dtMoB0MJc" title="Allocated share based compensation expense">zero</span> and $<span id="xdx_90B_eus-gaap--AllocatedShareBasedCompensationExpense_c20230501__20231031__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_z0Gis6a5mfCi" title="Allocated share based compensation expense">43,000</span> of total recognized compensation cost related to performance stock units during the six months ended October 31, 2024 and 2023, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: left"><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 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Compensation expense for RSUs is generally recorded based on the market value on the date of grant and recognized ratably over the associated service and performance period. During the six months ended October 31, 2024 and 2023, the Company granted <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_dc_c20240501__20241031__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_ze8X3ZjYN1O5" title="Number of restricted shares, granted">zero</span> and <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20230501__20231031__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zYu0jezh5rK7" title="Number of restricted shares, granted">58,000</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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_899_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_zWKnLO50soo3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of unvested RSU’s under the Stock Incentive Plans is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BC_zVhNzhQ7yut6" style="display: none">Schedule of Non-vested Restricted Stock Activity</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </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: center"> </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">Number of Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </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 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted Average</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Price 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: 60%">Unvested at April 30, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pid_c20240501__20241031__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zLwKlRAyPD4l" style="width: 16%; text-align: right" title="Number of Shares, Unvested, Beginning">5,124,529</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_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20240501__20241031__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zZ5VHCzRNyO6" style="width: 16%; text-align: right" title="Weighted Average Price per Share, Unvested, Beginning">0.38</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted/Adjusted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20240501__20241031__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zMWTPnc2WRs2" style="text-align: right" title="Number of Shares, Unvested, Granted/Adjusted">872,982</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20240501__20241031__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zKpTuyzJ0ku6" style="text-align: right" title="Weighted Average Price per Share, Granted/Adjusted">0.09</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vested and issued</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_pid_c20240501__20241031__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zW4R1aG6hvsf" style="text-align: right" title="Number of Shares, Unvested, Vested and issued">10,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="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_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pid_di_c20240501__20241031__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zhQp1HQQFJZ" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Shares, Cancelled/forfeited">(599,842</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left">$</td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20240501__20241031__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_z40jsbIeXzBl" style="padding-bottom: 1pt; text-align: right" title="Weighted Average Price per Share, Cancelled/forfeited">0.30</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Unvested at October 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pid_c20240501__20241031__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zHAfFbFxsuWb" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Shares, Unvested, Ending">5,387,669</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20240501__20241031__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_z1PMVB09Qc14" style="padding-bottom: 2.5pt; text-align: right" title="Weighted Average Price per Share, Unvested, Ending">0.35</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A0_z2ARfauulhp3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There was approximately $<span id="xdx_904_eus-gaap--AllocatedShareBasedCompensationExpense_c20240501__20241031__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zTTTvSebif2a" title="Share-based payment arrangement, expense">525,000</span> and $<span id="xdx_909_eus-gaap--AllocatedShareBasedCompensationExpense_c20230501__20231031__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_z0owRvzdGSb4" title="Share-based payment arrangement, expense">532,000</span> of total recognized compensation cost related to RSUs for the six months ended October 31, 2024 and 2023, respectively. There was approximately $<span id="xdx_901_eus-gaap--AllocatedShareBasedCompensationExpense_c20240801__20241031__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zmmTVlaKOhnk" title="Share-based payment arrangement, expense">285,000</span> and $<span id="xdx_908_eus-gaap--AllocatedShareBasedCompensationExpense_c20230801__20231031__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_z5acjJTzXwO9" title="Share-based payment arrangement, expense">252,000</span> of total recognized compensation cost related to RSUs for the three months ended October 31, 2024 and 2023, respectively. As of October 31, 2024, there was approximately $<span id="xdx_906_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions_iI_c20241031__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zsZ1fp9RIewg" title="Unrecognized compensation cost">667,000</span> of unrecognized compensation cost remaining related to unvested RSUs. This cost is expected to be recognized over a weighted-average period of <span id="xdx_908_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20240501__20241031__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zPBYA19CWOS" title="Share-based compensation of weighted-average period">1.3</span> years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 1332036 2900000 7282036 25000 250000 275000 <p id="xdx_89D_eus-gaap--ScheduleOfShareBasedCompensationActivityTableTextBlock_zo5ca7nPwOC7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of stock options under the Stock Incentive Plans is detailed in the following table.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B0_zXQactUMMsD8" style="display: none">Schedule of Stock Option Activity</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </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: center"> </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 0pt 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 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Underlying 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 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted Average</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Exercise 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 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted Average</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Contractual Term</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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: 46%">Outstanding as of April 30, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20240501__20241031_ziGxB0wCnBD" style="width: 14%; text-align: right" title="Shares Underlying Options Outstanding, beginning">734,543</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--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20240501__20241031_zM58qtBVzOHb" style="width: 14%; text-align: right" title="Weighted Average Exercise Price, Beginning balance">2.12</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_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20220501__20230430_zJeEFiiUqtX9" title="Weighted Average Remaining Contractual Term (In Years), Beginning">7.6</span></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_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20240501__20241031_zCs0f4JHEcDl" style="text-align: right" title="Shares underlying Options Outstanding, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1235">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20240501__20241031_zsfi5j0uIwl8" style="text-align: right" title="Weighted Average Exercise Price, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1237">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_c20240501__20241031_zXOISDxqaNc9" style="text-align: right" title="Shares Underlying Options ,Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1239">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20240501__20241031_z2fR5D1LO9l5" style="text-align: right" title="Weighted Average Exercise Price, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1241">—</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="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_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_pid_di_c20240501__20241031_zSYzD8VR9Mla" style="border-bottom: Black 1pt solid; text-align: right" title="Shares Underlying Options, Cancelled/forfeited">(222,957</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_pid_c20240501__20241031_zh7I777e1Vcd" style="padding-bottom: 1pt; text-align: right" title="Weighted Average Exercise Price, Cancelled/forfeited">1.20</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding as of October 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20240501__20241031_z9RhuRj31Jf6" style="border-bottom: Black 2.5pt double; text-align: right" title="Shares Underlying Options, ending">511,586</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20240501__20241031_z6C0xGcnnm5k" style="padding-bottom: 2.5pt; text-align: right" title="Weighted average exercise price, ending balance">2.52</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 style="padding-bottom: 2.5pt; text-align: right"><span id="xdx_901_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240501__20241031_zYRi8wSdzRNk" title="Weighted Average Remaining Contractual Term (In Years), Ending">6.8</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Exercisable as of October 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_pid_c20241031_zpS4yj6NTyvd" style="border-bottom: Black 2.5pt double; text-align: right" title="Shares Underlying Options, Exercisable at Ending">347,714</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_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_pid_c20241031_zeUD33rwTEdc" style="padding-bottom: 2.5pt; text-align: right" title="Weighted Average Exercise Price, Exercisable at ending">3.30</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 style="padding-bottom: 2.5pt; text-align: right"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20240501__20241031_z8wOaThg69zi" title="Weighted Average Remaining Contractual Term (In Years), Exercisable at Ending">6.3</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 734543 2.12 P7Y7M6D 222957 1.20 511586 2.52 P6Y9M18D 347714 3.30 P6Y3M18D 0 0 164000 0 P8Y 26000 98000 7000 20000 56000 P1Y 66667 0 43000 0 58000 <p id="xdx_899_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_zWKnLO50soo3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of unvested RSU’s under the Stock Incentive Plans is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BC_zVhNzhQ7yut6" style="display: none">Schedule of Non-vested Restricted Stock Activity</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </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: center"> </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">Number of Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </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 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted Average</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Price 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: 60%">Unvested at April 30, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pid_c20240501__20241031__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zLwKlRAyPD4l" style="width: 16%; text-align: right" title="Number of Shares, Unvested, Beginning">5,124,529</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_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20240501__20241031__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zZ5VHCzRNyO6" style="width: 16%; text-align: right" title="Weighted Average Price per Share, Unvested, Beginning">0.38</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted/Adjusted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20240501__20241031__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zMWTPnc2WRs2" style="text-align: right" title="Number of Shares, Unvested, Granted/Adjusted">872,982</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20240501__20241031__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zKpTuyzJ0ku6" style="text-align: right" title="Weighted Average Price per Share, Granted/Adjusted">0.09</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vested and issued</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_pid_c20240501__20241031__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zW4R1aG6hvsf" style="text-align: right" title="Number of Shares, Unvested, Vested and issued">10,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="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_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pid_di_c20240501__20241031__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zhQp1HQQFJZ" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Shares, Cancelled/forfeited">(599,842</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left">$</td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20240501__20241031__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_z40jsbIeXzBl" style="padding-bottom: 1pt; text-align: right" title="Weighted Average Price per Share, Cancelled/forfeited">0.30</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Unvested at October 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pid_c20240501__20241031__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_zHAfFbFxsuWb" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Shares, Unvested, Ending">5,387,669</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20240501__20241031__us-gaap--AwardTypeAxis__custom--NonVestedRestrictedStockMember_z1PMVB09Qc14" style="padding-bottom: 2.5pt; text-align: right" title="Weighted Average Price per Share, Unvested, Ending">0.35</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 5124529 0.38 872982 0.09 10000 599842 0.30 5387669 0.35 525000 532000 285000 252000 667000 P1Y3M18D <p id="xdx_80C_eus-gaap--FairValueDisclosuresTextBlock_zu0uRgMSmuk2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(13) <span id="xdx_821_z0hbN6WnxjGb">Fair Value Measurements</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 0pt 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; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1</span></td> <td style="font: 10pt Times New Roman, Times, Serif; 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="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inputs other than quoted prices in active markets that are observable for the asset or liability, either directly or indirectly.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inputs that are unobservable for the asset or liability.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 0pt 0pt 0; text-align: left"><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 0pt 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 0pt 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, other assets, contract assets and liabilities, deposits, accounts payable, and accrued expenses. The carrying value is equal to their fair value due to the short-term nature of these accounts.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the six months ended October 2024, the Company paid $<span id="xdx_902_ecustom--CashPaidForFirstEarnOut_c20240501__20241031_zmOfEpPGLXC2" title="Cash payments">100,000</span> in cash and issued <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_pid_c20240501__20241031_zHVKQrcumXh" title="Stock issued during period, shares">2,864,808</span> in shares worth $<span id="xdx_905_eus-gaap--StockIssuedDuringPeriodValueAcquisitions_pn5n6_c20240501__20241031_zp4Ub923t5tc" title="Stock issued during period, value">0.5</span> million to partially satisfy the final earnout period related to its acquisition of MAR in November 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 either of the three and six months ended October 31, 2024 and 2023, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 100000 2864808 500000 <p id="xdx_808_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zV3GzNdDsrBh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(14) <span id="xdx_82B_zae7F0UuODK2">Commitments and Contingencies</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: left"><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 0pt 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 0pt 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_907_eus-gaap--IncomeTaxExaminationPenaltiesAndInterestAccrued_iI_uEuro_c20220430__us-gaap--IncomeTaxAuthorityNameAxis__us-gaap--TaxAuthoritySpainMember_zGIX6zJdmHAi" title="Income tax penalties">279,870</span> or approximately $<span id="xdx_90B_eus-gaap--IncomeTaxExaminationPenaltiesAndInterestAccrued_iI_c20220430__us-gaap--IncomeTaxAuthorityNameAxis__us-gaap--TaxAuthoritySpainMember_zd40cSdrzSxg" title="Income tax penalties">331,000</span>. On January 25, 2021, the Company paid the Spanish Tax Administration €<span id="xdx_90B_eus-gaap--LossContingencyDamagesPaidValue_uEuro_c20210124__20210125__us-gaap--IncomeTaxAuthorityNameAxis__us-gaap--TaxAuthoritySpainMember_zcc8yiHxAmd6" 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. The Company expects results of the appeal to conclude during fiscal year 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Litigation with Paragon Technologies, Inc.</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 16, 2023, Paragon Technologies, Inc., a Delaware corporation that is a stockholder of the Company (“Paragon”), informed the Company that Paragon was planning a proxy contest against the Company and intended to nominate candidates for election to the Company Board of Directors (the “OPT Board”) at the Company’s 2023 Annual Meeting (the “2023 Annual Meeting”). Subsequently, Paragon disclosed its intention to replace a majority of the six-member OPT Board with initially five purported nominees, including three members of the Paragon Board of Directors, and, thereby, seek control of the Company. In furtherance of Paragon’s threatened agenda, Paragon brought three litigation matters against the Company in the Delaware Court of Chancery.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><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; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(Del. Code §220 Complaint)</i> On July 27, 2023, Paragon filed a complaint in the Court of Chancery of the State of Delaware against the Company seeking to compel the inspection of certain books and records of the Company pursuant to 8 Del. Code § 220. On January 31, 2024, the Court issued a ruling for the Company to deliver certain books and records to Paragon, and the books and records that were subject to the Court’s final order were produced to Paragon on April 8, 2024. No additional activity has occurred and the case is now closed.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(Breach of Fiduciary Duties Complaint) </i>On October 10, 2023, Paragon filed an additional complaint in the Court of Chancery of the State of Delaware against the Company, and the members of its Board of Directors, claiming certain breaches of their fiduciary duties. The complaint sought only injunctive relief against the Company, and not monetary damages, and therefore the financial exposure derived therein was limited to applicable legal fees and costs at that stage, which was material to FY’ 24. On November 2, 2023, Paragon sought leave to amend its complaint to add additional claims. The Court granted this motion for leave to amend, provided that the Court would not delay the hearing on the matters raised in the initial complaint, which was set for November 28, 2023. This hearing on the initial complaint was held and on November 30, 2023, the Court ruled in favor of the Company and denied Paragon’s motion for injunctive relief. The status of the in the amended complaint is still pending. On February 28, 2024, the Company successfully finalized its 2023 annual meeting of stockholders in spite of Paragon’s repeated attempts to contest the meeting. In an August 12, 2024 Press Release and its Form 10-Q report for the second quarter of 2024, Paragon announced that it was no longer pursuing litigation against the Company.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><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; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(Del. Code §225 Complaint) </i>On April 11, 2024, Paragon filed an action in the Delaware Court of Chancery against the Company, and the members of its Board of Directors, challenging the results of the 2023 Annual Meeting (concluded on February 28, 2024), alleging that a quorum was not present for the meeting. On May 7, 2024, the Company filed its answer, including that the Final Report of the Inspector of Election (which Paragon selected) confirmed that a quorum was present. On June 20, 2024, Paragon filed a Motion to Dismiss the case “without prejudice.” On September 19, 2024, the Court granted Paragon’s request, and the case is now dismissed.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>General Legal Matters</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">From time to time, the Company is involved in legal and administrative proceedings and claims of various types. The Company records a liability in its consolidated financial statements for these matters when a loss is known or considered probable, and the amount can be reasonably estimated. The Company reviews these estimates each accounting period as additional information is known and adjusts the loss provision when appropriate. If a matter is both probable to result in a liability and the amounts of loss can be reasonably estimated, the Company estimates and discloses the possible loss or range of loss to the extent necessary to make the consolidated financial statements not misleading. If the loss is not probable or cannot be reasonably estimated, a liability is not recorded in its consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> 279870 331000 279870 <p id="xdx_800_eus-gaap--IncomeTaxDisclosureTextBlock_zTSZuWilyAdj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(15) <span id="xdx_82C_zM3T4qAqT7ef">Income Taxes</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: left"><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 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts 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. The Company has no current or deferred tax due to current and projected losses for the year. 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 14). At October 31, 2024, 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 0pt 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 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Tax Preservation Plan</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In June 2023, in order to protect the Company’s valuable tax assets related to its net operating losses from being limited or lost under Section 382 of the Internal Revenue Code, the Company adopted a Tax Benefits Preservation Plan (the “Plan”). Pursuant to the Plan, the Board declared a dividend of one preferred share purchase right (each, a “Right”) for each outstanding share of common stock of the Company. The dividend was distributed to stockholders of record as of the close of business on July 11, 2023. The Plan substantially diminishes the risk that the Company’s ability to utilize its net operating loss carryovers to reduce potential future federal income tax obligations may become substantially limited. The Plan is intended to act as a deterrent to any person or group acquiring beneficial ownership of <span id="xdx_904_ecustom--BusinessAcquisitionOutstandingCommonStockOwnershipPercentage_iI_dp_uPure_c20230630_z3kuH7yF7xEd" title="Acquisition outstanding common stock ownership percentage">4.99</span>% or more of the outstanding common stock without approval by potentially subjecting any such person or group to significant dilution. The Plan was approved by shareholders by a non-binding advisory vote at the Company’s Annual Meeting held on February 28, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company determined the grant date fair value of the Rights using an option-pricing model. The amount was immaterial to the consolidated financial statements and deemed to be de minimis, and accordingly was not recorded to the financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Sale of New Jersey NOL’s and R&amp;D Tax Credits</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In order to monetize their attributes, the Company has historically sold the Net Operating Losses (NOL’s) and R&amp;D credit generated in New Jersey. In September 2024 the Company was notified that it received a preliminary award of approximately $<span id="xdx_90D_eus-gaap--IncomeTaxPaidForeignBeforeRefundReceived_pn5n6_c20240901__20240930_z3liRbI9PVck">1.1 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million for, New Jersey State for the sale of the fiscal year 2024 NOL. The final allocation is expected to be determined during the fourth quarter of OPT’s 2025 fiscal year when the sale of the NOL’s and credit are finalized. The Company has elected to recognize the gain on the sale as a component of tax expense at the time of the sale. Historically the Company has received over 90% of the amount of the preliminary award upon final sale.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 0.0499 1100000 <p id="xdx_809_eus-gaap--SegmentReportingDisclosureTextBlock_zXeI8OlGKybi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(16) <span id="xdx_829_zkPlDmq0TRv4">Operating Segments and Geographic Information</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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_905_eus-gaap--NumberOfReportableSegments_dc_uInteger_c20240501__20241031_zdKj5961Drrg">one </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 the Company’s 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 and California and one operating subsidiary in the UK. Revenues and expenses are generally attributed to the operating unit that bills the customers. During each of the three and six months ended October 31, 2024 and 2023, the Company’s primary business operations were in North America, South America and EMEA.</span></p> 1