Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (6,897,483) $ (7,614,204)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 32,818 36,505
Accretion 27,968 25,568
Amortization of right-of-use asset 55,357 52,456
Stock based compensation 593,556 1,308,633
Amortization of prepaid stock based expenses 229,850 367,250
Gain from settlement of asset retirement obligation (6,075)
Change in fair value of warrant liability (313,950) (1,560,150)
Change in fair value due to modification of warrants 262,500
Gain from sale of asset (763,393)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (504,943) 512
Reclamation bond deposit (301,820) (25,000)
Accounts payable and accrued liabilities 63,736 (728,687)
Operating lease liability (55,357) (52,756)
NET CASH USED IN OPERATING ACTIVITIES (7,076,343) (8,690,766)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sale of asset 2,750,000
Purchase of property and equipment (177,513)
NET CASH USED IN INVESTING ACTIVITIES 2,572,487
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issuance of common stock, net of offering costs 4,827,691 4,829,697
NET CASH PROVIDED BY FINANCING ACTIVITIES 4,827,691 4,829,697
NET DECREASE IN CASH (2,248,652) (1,288,582)
CASH - beginning of year 7,822,930 9,111,512
CASH - end of year 5,574,278 7,822,930
Cash paid for:    
Interest
Income taxes
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:    
Issuance of common stock for prepaid services and accrued services 78,750 195,000
Operating lease right-of-use asset and operating lease liability recorded upon lease modification 93,608 20,472
Initial valuation of warrant liability $ 3,088,500