Cover
Cover - shares | 9 Months Ended | |
Jan. 31, 2024 | Mar. 15, 2024 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity Interactive Data Current | Yes | |
Amendment Flag | false | |
Document Period End Date | Jan. 31, 2024 | |
Document Fiscal Year Focus | 2024 | |
Document Fiscal Period Focus | Q3 | |
Entity Information [Line Items] | ||
Entity Registrant Name | VERDE BIO HOLDINGS, INC. | |
Entity Central Index Key | 0001490054 | |
Entity File Number | 000-54524 | |
Entity Tax Identification Number | 30-0678378 | |
Entity Incorporation, State or Country Code | NV | |
Current Fiscal Year End Date | --04-30 | |
Entity Current Reporting Status | Yes | |
Entity Shell Company | false | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Contact Personnel [Line Items] | ||
Entity Address, Address Line One | PO Box 67 | |
Entity Address, City or Town | Jacksboro | |
Entity Address, State or Province | TX | |
Entity Address, Postal Zip Code | 76458 | |
Entity Phone Fax Numbers [Line Items] | ||
City Area Code | (972) | |
Local Phone Number | 217-4080 | |
Entity Listings [Line Items] | ||
Entity Common Stock, Shares Outstanding | 2,020,821,612 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Jan. 31, 2024 | Apr. 30, 2023 |
Current Assets | ||
Cash | $ 11,561 | $ 25,836 |
Accounts receivable | 53,077 | 71,912 |
Prepaid expenses | 39,740 | |
Total current assets | 104,378 | 97,748 |
Non-current assets | ||
Right-of-use operating lease asset | 19,861 | |
Property and equipment, net | 1,081,833 | 2,724,123 |
Oil and natural gas properties, net based on the full cost method of accounting | 696,351 | 1,318,506 |
Total assets | 1,882,562 | 4,160,238 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 223,099 | 286,972 |
Convertible notes payable | 65,167 | 260,855 |
Current portion of operating lease liability | 21,337 | |
Warrant liabilities | 1,228,018 | 1,228,018 |
Total Liabilities | 1,596,787 | 1,839,182 |
TEMPORARY EQUITY | ||
Total Temporary Equity | 166,757 | 109,373 |
STOCKHOLDERS’ EQUITY | ||
Series A Preferred Stock designated: 500,000 shares, par value of $0.001 per share issued and outstanding: 500,000 shares | 500 | 500 |
Common stock – 5,000,000,000 common shares, par value of $0.001 per share issued and outstanding: 1,931,932,723 and 1,543,077,167 common shares, respectively | 1,931,153 | 1,543,078 |
Common stock issuable | ||
Additional paid-in capital | 16,362,235 | 16,701,175 |
Accumulated deficit | (18,174,870) | (16,033,070) |
Total Stockholders’ Equity | 119,018 | 2,211,683 |
Total Liabilities and Stockholders’ Equity | 1,882,562 | 4,160,238 |
Series C Preferred Stock | ||
TEMPORARY EQUITY | ||
Total Temporary Equity | 1 | 1 |
Series C Accrued Dividends | ||
TEMPORARY EQUITY | ||
Total Temporary Equity | 166,756 | 109,372 |
Related Party | ||
Current Liabilities | ||
Due to related party | $ 80,503 | $ 42,000 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares | Jan. 31, 2024 | Apr. 30, 2023 |
Common Stock, shares authorized | 5,000,000,000 | 5,000,000,000 |
Common Stock, par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Common Stock, shares issued | 1,931,932,723 | 1,543,077,167 |
Common Stock, shares outstanding | 1,931,932,723 | 1,543,077,167 |
Series C Preferred Stock | ||
Temporary equity, designated shares | 7,600 | 7,600 |
Temporary equity, par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Temporary equity, share issued | 836 | 845 |
Temporary equity, shares outstanding | 836 | 845 |
Series A Preferred Stock | ||
Preferred Stock, designated shares | 500,000 | 500,000 |
Preferred Stock, par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares issued | 500,000 | 500,000 |
Preferred stock, shares outstanding | 500,000 | 500,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jan. 31, 2024 | Jan. 31, 2023 | Jan. 31, 2024 | Jan. 31, 2023 | |
Revenue | ||||
Mineral property and royalty revenues | $ 75,991 | $ 170,312 | $ 211,181 | $ 794,578 |
Operating Expenses | ||||
Consulting fees | 73,197 | 63,640 | 229,056 | 296,321 |
Depletion expense | 47,003 | 84,700 | 142,286 | 395,916 |
General and administrative | 206,944 | 235,535 | 556,421 | 949,035 |
Depreciation expense | 15,482 | 15,483 | 46,448 | 46,099 |
Professional fees | 138,345 | 32,825 | 265,650 | 167,882 |
Project expenditures | 5,510 | 152,306 | 12,091 | 177,238 |
Total Operating Expenses | 486,481 | 584,489 | 1,251,952 | 2,032,491 |
Net Operating Loss | (410,490) | (414,177) | (1,040,771) | (1,237,913) |
Other Income (Expenses) | ||||
Finance charges | (11,760) | (15,960) | (30,510) | (56,160) |
Interest expense | (9,699) | (11,562) | (39,762) | |
Loss on disposal of property | (1,070,842) | (1,070,842) | ||
Other revenue | 11,885 | |||
Total Other Income (Expenses) | (1,082,602) | (25,659) | (1,101,029) | (95,922) |
Loss Before Income Taxes | (1,493,092) | (439,836) | (2,141,800) | (1,333,835) |
Provision for Income Taxes | ||||
Net Loss | (1,493,092) | (439,836) | (2,141,800) | (1,333,835) |
Series C Preferred Stock Dividends | (18,618) | (21,855) | (57,384) | (68,789) |
Net Loss to Stockholders | $ (1,511,710) | $ (461,691) | $ (2,199,184) | $ (1,402,624) |
Net Loss Per Share – Basic (in Dollars per share) | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted Average Shares Outstanding – Basic (in Shares) | 1,856,601,805 | 1,367,786,733 | 1,731,165,090 | 1,300,490,001 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Operations (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Jan. 31, 2024 | Jan. 31, 2023 | Jan. 31, 2024 | Jan. 31, 2023 | |
Income Statement [Abstract] | ||||
Net Loss Per Share – Diluted | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted Average Shares Outstanding – Diluted | 1,856,601,805 | 1,367,786,733 | 1,731,165,090 | 1,300,490,001 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders’ Equity (Deficit) (Unaudited) - USD ($) | Preferred Stock | Common Stock | Additional Paid-in Capital | Accumulated Deficit | Total |
Balance at Apr. 30, 2022 | $ 500 | $ 1,179,366 | $ 16,669,291 | $ (14,258,891) | $ 3,590,266 |
Balance (in Shares) at Apr. 30, 2022 | 500,000 | 1,179,365,468 | |||
Series C preferred stock issued for commitment fee | 11,000 | 4,000 | |||
Common shares issued for conversion of Series C preferred stock | $ 230,557 | (230,557) | |||
Common shares issued for conversion of Series C preferred stock (in Shares) | 230,556,143 | ||||
Common shares issued for services | $ 13,600 | 85,060 | 98,660 | ||
Common shares issued for services (in Shares) | 13,600,000 | ||||
Series C preferred stock issued for cash | 363,000 | 370,000 | |||
Series C preferred stock dividend | (68,789) | (68,789) | |||
Net loss for the period | (1,333,835) | (1,333,835) | |||
Balance at Jan. 31, 2023 | $ 500 | $ 1,423,523 | 16,829,005 | (15,592,726) | 2,660,302 |
Balance (in Shares) at Jan. 31, 2023 | 500,000 | 1,423,521,611 | |||
Balance at Oct. 31, 2022 | $ 500 | $ 1,324,097 | 16,874,287 | (15,152,890) | 3,045,994 |
Balance (in Shares) at Oct. 31, 2022 | 500,000 | 1,324,096,144 | |||
Common shares issued for conversion of Series C preferred stock | $ 99,426 | (99,426) | |||
Common shares issued for conversion of Series C preferred stock (in Shares) | 99,425,467 | ||||
Series C preferred stock issued for cash | 76,000 | 76,000 | |||
Series C preferred stock dividend | (21,856) | (21,856) | |||
Net loss for the period | (439,836) | (439,836) | |||
Balance at Jan. 31, 2023 | $ 500 | $ 1,423,523 | 16,829,005 | (15,592,726) | 2,660,302 |
Balance (in Shares) at Jan. 31, 2023 | 500,000 | 1,423,521,611 | |||
Balance at Apr. 30, 2023 | $ 500 | $ 1,543,078 | 16,701,175 | (16,033,070) | 2,211,683 |
Balance (in Shares) at Apr. 30, 2023 | 500,000 | 1,543,077,167 | |||
Series C preferred stock issued for commitment fee | 7,000 | 7,000 | |||
Common shares issued for conversion of Series C preferred stock | $ 387,556 | (387,556) | |||
Common shares issued for conversion of Series C preferred stock (in Shares) | 387,555,556 | ||||
Common shares issued for services | $ 519 | 519 | |||
Common shares issued for services (in Shares) | 1,300,000 | ||||
Series C preferred stock issued for cash | 99,000 | 99,000 | |||
Series C preferred stock dividend | (57,384) | (57,384) | |||
Net loss for the period | (2,141,800) | (2,141,800) | |||
Balance at Jan. 31, 2024 | $ 500 | $ 1,931,153 | 16,362,235 | (18,174,870) | 119,018 |
Balance (in Shares) at Jan. 31, 2024 | 500,000 | 1,931,932,723 | |||
Balance at Oct. 31, 2023 | $ 500 | $ 1,755,078 | 16,462,409 | (16,681,778) | 1,536,209 |
Balance (in Shares) at Oct. 31, 2023 | 500,000 | 1,755,077,167 | |||
Series C preferred stock issued for commitment fee | 6,000 | 6,000 | |||
Common shares issued for conversion of Series C preferred stock | $ 175,556 | (175,556) | |||
Common shares issued for conversion of Series C preferred stock (in Shares) | 175,555,556 | ||||
Common shares issued for services | $ 519 | 519 | |||
Common shares issued for services (in Shares) | 1,300,000 | ||||
Series C preferred stock issued for cash | 88,000 | 88,000 | |||
Series C preferred stock dividend | (18,618) | (18,618) | |||
Net loss for the period | (1,493,092) | (1,493,092) | |||
Balance at Jan. 31, 2024 | $ 500 | $ 1,931,153 | $ 16,362,235 | $ (18,174,870) | $ 119,018 |
Balance (in Shares) at Jan. 31, 2024 | 500,000 | 1,931,932,723 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($) | 9 Months Ended | |
Jan. 31, 2024 | Jan. 31, 2023 | |
Operating Activities | ||
Net loss | $ (2,141,800) | $ (1,333,835) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Amortization of right-of-use asset | 19,861 | 38,380 |
Depletion expense | 142,286 | 395,916 |
Depreciation expense | 46,448 | 46,099 |
Loss on disposal of property and equipment | 1,070,842 | |
Original issuance discount and issuance fees | 17,750 | 37,160 |
Shares issued for services | 519 | 98,660 |
Shares issued or issuable for commitment fees | 7,000 | 11,000 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 18,835 | 16,408 |
Prepaid expenses | (39,740) | 23,013 |
Accounts payable and accrued liabilities | (63,873) | (8,118) |
Operating lease liability | (21,337) | (41,701) |
Net cash used in operating activities | (943,209) | (717,018) |
Investing Activities | ||
Acquisition of property and equipment | (6,985) | |
Oil and gas property expenditures | (68,881) | (20,000) |
Proceeds from sale of mineral property | 548,750 | 175,000 |
Net Cash provided by activities | 479,869 | 148,015 |
Financing Activities | ||
Proceeds from issuance of series C preferred shares | 99,000 | 363,000 |
Proceeds from related party loan | 605,503 | 20,000 |
Repayment of related party loan | (42,000) | |
Proceeds from convertible debentures | 80,000 | 235,000 |
Repayment of convertible debenture | (293,438) | (140,140) |
Net cash provided by financing activities | 449,065 | 477,860 |
Change in Cash | (14,275) | (91,143) |
Cash – Beginning of Period | 25,836 | 141,206 |
Cash – End of Period | 11,561 | 50,063 |
Supplemental Disclosures | ||
Interest paid | 3,584 | 16,817 |
Income taxes | ||
Non-cash investing and financing activities | ||
Series C preferred stock accrued dividend | (57,384) | (68,789) |
Settlement of related party loan | 525,000 | |
Common stock issued for conversion of Series C preferred stock | $ 387,556 | $ 230,557 |
Nature of Operations and Contin
Nature of Operations and Continuance of Business | 9 Months Ended |
Jan. 31, 2024 | |
Nature of Operations and Continuance of Business [Abstract] | |
Nature of Operations and Continuance of Business | 1. Nature of Operations and Continuance of Business Verde Bio Holdings Inc. (the “Company”, “we”, “us” or “our”) was incorporated in the State of Nevada on February 24, 2010. The Company is a growing U.S. energy company based in Frisco, Texas, engaged in the acquisition and development of high-probability, lower risk onshore oil and gas properties within the major oil and gas plays in the U.S. The Company’s dual-focused growth strategy relies primarily on leveraging management’s expertise to grow through the strategic acquisition of non-operating, working interests and royalty interests with the goal of developing into a major company in the industry. Through this strategy of acquisition of royalty and non-operating properties, the Company has the unique ability to rely on the technical and scientific expertise of the world-class energy and power companies operating in the area. Verde began purchasing mineral and oil and gas royalty interests and surface properties in September 2020 and since such time has completed a total of 18 purchases. Going Concern These condensed consolidated financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. During the period ended January 31, 2024, the Company incurred a net loss of $2,141,800 and used cash of $943,209 for operating activities. As at January 31, 2024, the Company had an accumulated deficit of $18,174,870. The continuation of the Company as a going concern is dependent upon the continued financial support from its management, and its ability to identify future investment opportunities and obtain the necessary debt or equity financing, and generating profitable operations from the Company’s future operations. In the past the Company has relied, and expects to continue to rely on the issuance and sale of shares of common stock (“common shares”) and preferred stock in order to continue to fund its business operations. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern for a period of one year from the date these financial statements were issued, or March 25, 2024. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Jan. 31, 2024 | |
Summary of Significant Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2. Summary of Significant Accounting Policies (a) Basis of Presentation and Principles of Consolidation The accompanying condensed consolidated financial statements of the Company should be read in conjunction with the consolidated financial statements and accompany notes filed with the U.S. Securities and Exchange Commission for the fiscal year ended April 30, 2023. These condensed consolidated financial statements are unaudited and have been prepared on the same basis as the annual consolidated financial statements and in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the Company’s financial position, results of operations and cash flows for the periods shown. The results of operations for such periods are not necessarily indicative of the results expected for a full year or for any future period. These condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and are expressed in U.S. dollars. The condensed consolidated financial statements are comprised of the records of the Company and its wholly owned, inactive subsidiary, IP Control Risk Inc., a Nevada corporation. All intercompany transactions have been eliminated on consolidation. The Company’s fiscal year end is April 30. (b) Use of Estimates The preparation of these condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the collectability of accounts receivable relating to oil and gas interests which is based on the operator’s production statements, carrying value of oil and gas properties, the useful life, carrying value, and incremental borrowing rate used for right-of-use assets and lease liabilities, the fair value of stock-based compensation, revenue recognition including the calculation of the reserves and the fair value of the reserves for oil and gas interests, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. (c) Basic and Diluted Net Loss per Share The Company computes net loss per share in accordance with ASC 260, Earnings per Share (d) Fair Value Measurements The Company measures and discloses the estimated fair value of financial assets and liabilities using the fair value hierarchy prescribed by U.S. GAAP. The fair value hierarchy has three levels, which are based on reliable available inputs of observable data. The hierarchy requires the use of observable market data when available. The three-level hierarchy is defined as follows: Level 1 – quoted prices for identical instruments in active markets; Level 2 – quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model derived valuations in which significant inputs and significant value drivers are observable in active markets; and Level 3 – fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Financial instruments consist principally of cash, accounts payable and accrued liabilities, notes payable, convertible debentures and amounts due to related parties. The fair value of cash is determined based on Level 1 inputs. There were no transfers into or out of “Level 3” during the period ended January 31, 2024. The recorded values of all other financial instruments approximate their current fair values because of their nature and respective relatively short maturity dates or durations. Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. (e) Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Right-of-Use Operating Lease As
Right-of-Use Operating Lease Asset and Lease Liability | 9 Months Ended |
Jan. 31, 2024 | |
Right-of-Use Operating Lease Asset and Lease Liability [Abstract] | |
Right-of-Use Operating Lease Asset and Lease Liability | 3. Right-of-Use Operating Lease Asset and Lease Liability ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease calculated by discounting fixed lease payments over the lease term at the rate implicit in the lease or the Company’s incremental borrowing rate. Lease liabilities are increased by interest and reduced by payments each period, and the ROU asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the ROU asset result in straight-line rent expense over the lease term. ROU assets and liabilities are recognized at the commencement date of the lease based on the present value of lease payments over the lease term. On March 11, 2021, the Company entered into a sublease agreement with a sublandlord regarding its office at 5750 Genesis Court, Suite 220, Frisco, Texas 75036. The agreement was treated as an operating lease in accordance with ASC 842, Lease January 31, April 30, $ $ Components of lease expense were as follows: Operating lease cost 19,861 52,462 Supplemental cash flow information related to leases: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 22,143 66,430 Supplemental balance sheet information related to leases: Operating Leases Operating lease right-of-use assets – 19,861 Operating lease liabilities – 21,337 January 31, April 30, Weighted Average Remaining Lease Term Operating leases – 0.41 years Weighted Average Discount Rate Operating leases 18 % 18 % Maturities of lease liabilities are as follows: Operating Leases Operating Leases Year Ending April 30, 2024 – 22,143 Less: imputed interest – (806 ) Total – 21,337 |
Royalty Interests in Oil and Ga
Royalty Interests in Oil and Gas Properties | 9 Months Ended |
Jan. 31, 2024 | |
Royalty Interests in Oil and Gas Properties [Abstract] | |
Royalty Interests in Oil and Gas Properties | 4. Royalty Interests in Oil and Gas Properties $ Balance, April 30, 2023 1,318,506 Acquisition and exploration cost 68,881 Disposal of mineral property (548,750 ) Depletion expense (142,286 ) Balance, January 31, 2024 696,351 On June 19, 2023, the Company entered into a purchase and sale agreement for the sale of 55% of the right, title and interest to certain properties located in Desoto Parish, Louisiana, Belmont County, Ohio and Laramie County, Wyoming for aggregate cash consideration of $398,750. On November 1, 2023, The Company entered into a purchase and sale agreement for the sale of 100% of the right, title and interest to certain properties located in Desoto Parish, Louisiana, Belmont County, Ohio and Laramie County, Wyoming for aggregate cash consideration of $150,000. |
Property and Equipment
Property and Equipment | 9 Months Ended |
Jan. 31, 2024 | |
Property and Equipment [Abstract] | |
Property and Equipment | 5. Property and Equipment Land Vehicles Equipment Leasehold Improvements Total Cost Balance, April 30, 2023 2,501,924 125,595 43,180 140,881 2,811,580 Additions – – – – – Disposal (1,595,842 ) – – – (1,595,842 ) Balance, January 31, 2024 906,082 125,595 43,180 140,881 1,215,738 Accumulated depreciation Balance, April 30, 2023 – 37,679 14,558 35,220 87,457 Additions – 18,839 6,477 21,132 46,448 Balance, January 31, 2024 – 56,518 21,035 56,352 133,905 Balance, April 30, 2023 2,501,924 87,916 28,622 105,661 2,724,123 Balance, January 31, 2024 906,082 69,077 22,145 84,529 1,081,833 |
Convertible Loans
Convertible Loans | 9 Months Ended |
Jan. 31, 2024 | |
Convertible Loans [Abstract] | |
Convertible Loans | 6. Convertible Loans On January 9, 2023, the Company entered into a convertible loan agreement with an arms-length party for $71,960 net of original issuance discount of $7,710 and legal fees of $4,250. Under the terms of the agreement, the Company incurred a one-time interest charge of $8,635 upon the closing of the agreement, which has been recorded in accounts payable and accrued liabilities and is required to remit a monthly repayment of $8,060 commencing in March 2023. The loan contained the following default provision: in case of default, the outstanding principal balance would increase to 150% of the principal balance owing at the time of default, and the holder would have the right to convert the remaining balance outstanding at the time of default at 75% of the lowest trading price of the common shares for the last 10 trading days prior to default. During the nine months ended January 31, 2024, the Company repaid in full the outstanding principal and accrued and unpaid interest under the convertible loan. On March 2, 2023, the Company entered into an additional convertible loan agreement with the same arms-length party for $225,874 net of original issuance discount of $24,202 and financing fees of $26,672. Under the terms of the agreement, the Company incurred a one-time interest charge of $27,104 upon the closing of the agreement, which has been recorded in accounts payable and accrued liabilities and is required to remit a monthly repayment of $25,298 commencing in March 2023. The loan contained the following default provision: in case of default, the outstanding principal balance would increase to 150% of the principal balance owing at the time of default, and the holder would have the right to convert the remaining balance outstanding at the time of default at 75% of the lowest trading price of the common shares for the last 10 trading days prior to default. During the nine months ended January 31, 2024, the Company repaid in full the outstanding principal and accrued and unpaid interest under the convertible loan. On October 4, 2023, the Company entered into an additional convertible loan agreement with the same arms-length party for $97,750 net of original issuance discount of $12,750 and financing fees of $17,750. Under the terms of the agreement, the Company incurred a one-time interest charge of $10,753 upon the closing of the agreement, which has been recorded in accounts payable and accrued liabilities and is required to remit a monthly repayment of $12,056 commencing on November 15, 2023. If the Company defaults on the loan agreement, the outstanding principal balance will increase to 150% of the principal balance owing at the time of default, and the holder has the right to convert the remaining balance outstanding at the time of default at 75% of the lowest trading price of the common shares for the last 10 trading days prior to default. During the period ended January 31, 2024, the Company repaid a total of $36,167 on the convertible loan, comprised of $32,583 of principal and $3,584 of accrued interest. As of January 31, 2024, $65,167 of loan payable balance and $7,168 of accrued interest remain outstanding. |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Jan. 31, 2024 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 7. Related Party Transactions (a) On December 12, 2023, the Company transferred a property located in Jacks County, Texas to the President and Director of the Company to settle a loan balance of $525,000. There was a recorded loss of $1,070,842 on disposal of this property as a result of this settlement. (b) As of January 31, 2024, the Company owed $80,503 (April 30, 2023 - $42,000) to the President and Director of the Company which is non-interest bearing, unsecured, and due on demand. |
Common Shares
Common Shares | 9 Months Ended |
Jan. 31, 2024 | |
Common Shares [Abstract] | |
Common Shares | 8. Common Shares Authorized: 5,000,000,000 common shares with a par value of $0.001 per share. On May 23, 2023, the Company issued 70,000,000 common shares pursuant to the conversion of 21 shares of Series C convertible preferred stock, par value of $0.001 per share (“Series C shares”). On July 10, 2023, the Company issued 70,000,000 common shares pursuant to the conversion of 21 Series C shares. On September 7, 2023, the Company issued 72,000,000 common shares pursuant to the conversion of 21 Series C shares. On November 13, 2023, the Company issued 86,666,667 common shares pursuant to the conversion of 26 Series C shares. On November 20, 2023 the Company issued 1,300,000 common shares with a fair value of $519 for consulting services. On January 4, 2024, the Company issued 88,888,889 common shares pursuant to the conversion of 20 Series C shares. |
Preferred Shares
Preferred Shares | 9 Months Ended |
Jan. 31, 2024 | |
Preferred Shares [Abstract] | |
Preferred Shares | 9. Preferred Shares As of January 31, 2024, we had authorized: 500,000 shares of Series A convertible preferred stock, par value of $0.001 per share (“Series A shares”) and 7,600 Series C shares. Series A Shares The holder of the Series A shares is entitled to receive dividends equal to the amount of the dividend or distribution per common share payable multiplied by the number of common shares of Series A shares held by such holder are convertible into. Each Series A share is convertible into one common share. The holder of Series A shares is entitled to cast 10,000 votes for every Series A shares held. Series C Shares Series C shares activities for the nine months ended January 31, 2024 are as follows: Balance April 30, 2023 845 Series C preferred stock issued 106 Series C preferred stock converted into common shares (115 ) Balance January 31, 2024 836 On December 3, 2021, the Company entered into a securities purchase agreement (the “December Agreement”) with an arms-length party for the issuance of up to 1,000 Series C shares for $1,000,000 based on the stated value of $1,000 per share. Under the December Agreement, the Company has a put option with regards to the Series C shares. Under the terms of the December Agreement, the Series C shares are non-redeemable, subject to annual dividend payments of 10% and are convertible into common shares of the Company at a discount to the market price of the Company’s common shares at the date of the notice of conversion from the note holder. In addition to the Series C shares, the Company issued an additional 40 Series C shares, with a fair value of $40,000, to the note holder as a commitment fee on the Agreement. During the nine months ended January 31, 2024, the Company issued 387,555,556 common shares upon the conversion of 115 Series C shares. During the nine months ended January 31, 2024 the Company issued 106 Series C shares for $99,000, net of issuance and transaction costs of $7,000. As at January 31, 2024, 600 (April 30, 2023 – 609) Series C shares remained unpurchased and outstanding under the December Agreement. On May 24, 2022, the Company entered into an additional securities purchase agreement (the “May Agreement”) with an arms-length party for the issuance of up to 250 Series C shares for $250,000. Under the May Agreement, the Company has a put option with regards to the Series C shares. Under the terms of the May Agreement, the Series C shares are entitled to receive dividends at 8% per annum and are convertible into common shares of the Company at a discount to the market price of the Company’s common shares at the date of the notice of conversion from the note holder. As at January 31, 2024, 236 (April 30, 2023 – 236) Series C shares remained unpurchased and outstanding under the May Agreement. The Series C shares and the accrued dividends relating to the stock are classified as temporary equity. As at January 31, 2024, the Company had 836 (April 30, 2023 – 845) Series C shares with a carrying value of $1 (April 30, 2023 - $1) and recorded accrued dividend payable of $166,756 (April 30, 2023 - $109,372) which is included in temporary equity and offset against additional paid in capital. In addition to the Series C shares, the Company issued warrants to purchase up to 61,885,671 common shares on December 8, 2021 with a conversion price of $0.01067 per share for a period of five years and warrants to purchase up to 63,157,895 common shares on January 27, 2022 with a conversion price of $0.01045 per share for a period of five years. The fair value of the warrants was $1,228,018 based on the Black-Scholes option pricing model assuming an expected life of 5 years, volatility of 314-318%, risk-free rate of 1.2-1.7%, and no expected dividends. The fair value of the warrants was treated as a liability as it met the conditions of a liability in accordance with ASC 480, Distinguishing Liabilities from Equity. As the fair value of the warrants were greater than the gross proceeds received on the issuance of the Series C shares, the excess difference of $228,019 was recorded in the statement of operations as a finance cost. |
Share Purchase Warrants
Share Purchase Warrants | 9 Months Ended |
Jan. 31, 2024 | |
Share Purchase Warrants [Abstract] | |
Share Purchase Warrants | 10. Share Purchase Warrants Number of Weighted Balance, April 30, 2023 and January 31, 2024 125,043,566 0.01 Additional information regarding share purchase warrants as of January 31, 2024 is as follows: Outstanding and exercisable Range of Number of Warrants Weighted Average 0.01 125,043,566 2.9 |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Jan. 31, 2024 | |
Commitments and Contingencies [Abstract] | |
Commitments and Contingencies | 11. Commitments and Contingencies On May 28, 2020, the Company and an unrelated party entered into equity financing agreement, whereby the investor shall invest up to $5,000,000 over the period of 36 months pursuant to a “put” option held by the Company, subject to certain limitations. The price of the common shares shall be equal to 80% of the lowest traded price during the last 10 trading days leading up to each put notice, subject to a floor of $0.001 per share. As part of the agreement, the Company issued a convertible promissory note to the unrelated party to offset transaction costs of $20,000, which was deemed as earned upon the execution of the agreement. The note is convertible into common shares of the Company at a fixed price of $0.01, which equals the lowest traded price for the common shares on the trading day preceding the execution of the note. As of January 31, 2024 and April 30, 2023, no common shares have been sold pursuant to the equity financing agreement. |
Subsequent Events
Subsequent Events | 9 Months Ended |
Jan. 31, 2024 | |
Subsequent Events [Abstract] | |
Subsequent Events | 12. Subsequent Event (a) On December 11, 2023, the Company entered into an agreement and plan of merger (the “Merger Agreement”) with SensaSure Technologies, Inc. (“SSTC”), a Nevada corporation, and its subsidiary, Formation Mineral Inc. (“Merger Sub”), upon which, at the effective time of the merger, Merger Sub will be merged with and into the Company (the “Merger”). The separate corporate existence of Merger Sub will cease and the Company will continue as the surviving corporation of the Merger and as a subsidiary of SSTC. At the closing, the Company’s stockholders will be entitled to receive a number of shares of SSTC capital stock having an aggregate value equal to $10,000,000. If the Merger is completed pursuant to the Merger Agreement, upon the effectiveness of the Merger, as consideration of the Merger: (i) each holder of the common shares will be entitled to receive for every 275 common shares, one share of common stock, par value $0.01 per share of SSTC; (ii) each holder of Series A shares will be entitled to receive for every 275 common shares, one share of Class A convertible preferred stock, par value $0.001 per share, of the SSTC; and (iii) each holder of Series C shares will be entitled to receive for every 0.15 shares, one share of Class B preferred stock, par value $0.001 per share, of SSTC, in each case based on the market price of the SSTC common stock of $0.75 per share, and the number of fully-diluted shares of common shares outstanding, as of February 18, 2024. If the market price of the shares of SSTC common stock or the number of fully-diluted common shares changes before the effective time of the Merger, then the terms of the Merger will remain the same, but the per share Merger consideration payable will change in accordance with the provisions of the Merger Agreement. Subject to the satisfaction or waiver of closing conditions, the Merger is expected to close in the second calendar quarter of 2024. (b) On February 19, 2024, the Company issued 88,888,889 common shares with a fair value of $24,000 upon the conversion of 20 Series C shares. (c) On March 20, 2024, the Company completed the sale of certain minerals located in Howard County, Texas to an unrelated third party for $272,000. |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jan. 31, 2024 | Jan. 31, 2023 | Jan. 31, 2024 | Jan. 31, 2023 | |
Pay vs Performance Disclosure | ||||
Net Income (Loss) | $ (1,493,092) | $ (439,836) | $ (2,141,800) | $ (1,333,835) |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Jan. 31, 2024 | |
Trading Arrangements, by Individual | |
Rule 10b5-1 Arrangement Adopted | false |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 9 Months Ended |
Jan. 31, 2024 | |
Summary of Significant Accounting Policies [Abstract] | |
Basis of Presentation and Principles of Consolidation | (a) Basis of Presentation and Principles of Consolidation The accompanying condensed consolidated financial statements of the Company should be read in conjunction with the consolidated financial statements and accompany notes filed with the U.S. Securities and Exchange Commission for the fiscal year ended April 30, 2023. These condensed consolidated financial statements are unaudited and have been prepared on the same basis as the annual consolidated financial statements and in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the Company’s financial position, results of operations and cash flows for the periods shown. The results of operations for such periods are not necessarily indicative of the results expected for a full year or for any future period. These condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and are expressed in U.S. dollars. The condensed consolidated financial statements are comprised of the records of the Company and its wholly owned, inactive subsidiary, IP Control Risk Inc., a Nevada corporation. All intercompany transactions have been eliminated on consolidation. The Company’s fiscal year end is April 30. |
Use of Estimates | (b) Use of Estimates The preparation of these condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the collectability of accounts receivable relating to oil and gas interests which is based on the operator’s production statements, carrying value of oil and gas properties, the useful life, carrying value, and incremental borrowing rate used for right-of-use assets and lease liabilities, the fair value of stock-based compensation, revenue recognition including the calculation of the reserves and the fair value of the reserves for oil and gas interests, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. |
Basic and Diluted Net Loss per Share | (c) Basic and Diluted Net Loss per Share The Company computes net loss per share in accordance with ASC 260, Earnings per Share |
Fair Value Measurements | (d) Fair Value Measurements The Company measures and discloses the estimated fair value of financial assets and liabilities using the fair value hierarchy prescribed by U.S. GAAP. The fair value hierarchy has three levels, which are based on reliable available inputs of observable data. The hierarchy requires the use of observable market data when available. The three-level hierarchy is defined as follows: Level 1 – quoted prices for identical instruments in active markets; Level 2 – quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model derived valuations in which significant inputs and significant value drivers are observable in active markets; and Level 3 – fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Financial instruments consist principally of cash, accounts payable and accrued liabilities, notes payable, convertible debentures and amounts due to related parties. The fair value of cash is determined based on Level 1 inputs. There were no transfers into or out of “Level 3” during the period ended January 31, 2024. The recorded values of all other financial instruments approximate their current fair values because of their nature and respective relatively short maturity dates or durations. Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. |
Recent Accounting Pronouncements | (e) Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Right-of-Use Operating Lease _2
Right-of-Use Operating Lease Asset and Lease Liability (Tables) | 9 Months Ended |
Jan. 31, 2024 | |
Right-of-Use Operating Lease Asset and Lease Liability [Abstract] | |
Lessee, Operating Lease, Disclosure | This lease expired on September 30, 2023. January 31, April 30, $ $ Components of lease expense were as follows: Operating lease cost 19,861 52,462 Supplemental cash flow information related to leases: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 22,143 66,430 Supplemental balance sheet information related to leases: Operating Leases Operating lease right-of-use assets – 19,861 Operating lease liabilities – 21,337 January 31, April 30, Weighted Average Remaining Lease Term Operating leases – 0.41 years Weighted Average Discount Rate Operating leases 18 % 18 % |
Schedule of Future Minimum Rental Payments for Operating Leases | Maturities of lease liabilities are as follows: Operating Leases Operating Leases Year Ending April 30, 2024 – 22,143 Less: imputed interest – (806 ) Total – 21,337 |
Royalty Interests in Oil and _2
Royalty Interests in Oil and Gas Properties (Tables) | 9 Months Ended |
Jan. 31, 2024 | |
Royalty Interests in Oil and Gas Properties [Abstract] | |
Schedule of Oil and Gas Property Table | $ Balance, April 30, 2023 1,318,506 Acquisition and exploration cost 68,881 Disposal of mineral property (548,750 ) Depletion expense (142,286 ) Balance, January 31, 2024 696,351 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 9 Months Ended |
Jan. 31, 2024 | |
Property and Equipment [Abstract] | |
Schedule of Property and Equipment | Land Vehicles Equipment Leasehold Improvements Total Cost Balance, April 30, 2023 2,501,924 125,595 43,180 140,881 2,811,580 Additions – – – – – Disposal (1,595,842 ) – – – (1,595,842 ) Balance, January 31, 2024 906,082 125,595 43,180 140,881 1,215,738 Accumulated depreciation Balance, April 30, 2023 – 37,679 14,558 35,220 87,457 Additions – 18,839 6,477 21,132 46,448 Balance, January 31, 2024 – 56,518 21,035 56,352 133,905 Balance, April 30, 2023 2,501,924 87,916 28,622 105,661 2,724,123 Balance, January 31, 2024 906,082 69,077 22,145 84,529 1,081,833 |
Preferred Shares (Tables)
Preferred Shares (Tables) | 9 Months Ended |
Jan. 31, 2024 | |
Preferred Shares [Abstract] | |
Schedule of Series C Shares Activities | Series C shares activities for the nine months ended January 31, 2024 are as follows: Balance April 30, 2023 845 Series C preferred stock issued 106 Series C preferred stock converted into common shares (115 ) Balance January 31, 2024 836 |
Share Purchase Warrants (Tables
Share Purchase Warrants (Tables) | 9 Months Ended |
Jan. 31, 2024 | |
Share Purchase Warrant [Abstract] | |
Schedule of Share Purchase Warrants | Number of Weighted Balance, April 30, 2023 and January 31, 2024 125,043,566 0.01 |
Schedule of Additional Information Regarding Share Purchase Warrants | Additional information regarding share purchase warrants as of January 31, 2024 is as follows: Outstanding and exercisable Range of Number of Warrants Weighted Average 0.01 125,043,566 2.9 |
Nature of Operations and Cont_2
Nature of Operations and Continuance of Business (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Jan. 31, 2024 | Jan. 31, 2023 | Jan. 31, 2024 | Jan. 31, 2023 | Apr. 30, 2023 | |
Nature of Operations and Continuance of Business [Abstract] | |||||
Net loss | $ (1,493,092) | $ (439,836) | $ (2,141,800) | $ (1,333,835) | |
Net Cash Provided by (Used in) Operating Activities | (943,209) | $ (717,018) | |||
Retained Earnings (Accumulated Deficit) | $ (18,174,870) | $ (18,174,870) | $ (16,033,070) |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Details) - shares | 9 Months Ended | 12 Months Ended |
Jan. 31, 2024 | Apr. 30, 2023 | |
Summary of Significant Accounting Policies [Abstract] | ||
Dilutive common shares outstanding | 368,487,455 | 984,228,889 |
Right-of-Use Operating Lease _3
Right-of-Use Operating Lease Asset and Lease Liability (Details) - USD ($) | Mar. 11, 2021 | Jan. 31, 2024 | Apr. 30, 2023 |
Right-of-Use Operating Lease Asset and Lease Liability [Abstract] | |||
Right-of-use asset and lease liability | $ 122,120 | ||
Incremental borrowing rate | 18% | 18% | |
Lease expired term | Sep. 30, 2023 |
Right-of-Use Operating Lease _4
Right-of-Use Operating Lease Asset and Lease Liability (Details) - Lessee, Operating Lease, Disclosure - USD ($) | 9 Months Ended | 12 Months Ended |
Jan. 31, 2024 | Apr. 30, 2023 | |
Components of lease expense were as follows: | ||
Operating lease cost | $ 19,861 | $ 52,462 |
Cash paid for amounts included in the measurement of lease liabilities: | ||
Operating cash flows from operating leases | 22,143 | 66,430 |
Operating Leases | ||
Operating lease right-of-use assets | 19,861 | |
Operating lease liabilities | $ 21,337 | |
Weighted Average Remaining Lease Term | ||
Weighted average remaining lease term, Operating leases | 4 months 28 days | |
Weighted Average Discount Rate | ||
Weighted average discount rate, Operating leases | 18% | 18% |
Right-of-Use Operating Lease _5
Right-of-Use Operating Lease Asset and Lease Liability (Details) - Schedule of Future Minimum Rental Payments for Operating Leases - USD ($) | Jan. 31, 2024 | Apr. 30, 2023 |
Schedule of Future Minimum Rental Payments for Operating Leases [Abstract] | ||
2024 | $ 22,143 | |
Less: imputed interest | (806) | |
Total | $ 21,337 |
Royalty Interests in Oil and _3
Royalty Interests in Oil and Gas Properties (Details) - USD ($) | 1 Months Ended | |
Nov. 01, 2023 | Jun. 19, 2023 | |
Royalty Interests in Oil and Gas Properties [Abstract] | ||
Percentage of purchase and sale of agreement | 100% | 55% |
Cash consideration | $ 150,000 | $ 398,750 |
Royalty Interests in Oil and _4
Royalty Interests in Oil and Gas Properties (Details) - Schedule of Oil and Gas Property Table | 9 Months Ended |
Jan. 31, 2024 USD ($) | |
Schedule of Oil and Gas Property [Abstract] | |
Balance | $ 1,318,506 |
Acquisition and exploration cost | 68,881 |
Disposal of mineral property | (548,750) |
Depletion expense | (142,286) |
Balance | $ 696,351 |
Property and Equipment (Details
Property and Equipment (Details) - Schedule of Property and Equipment - USD ($) | 9 Months Ended | |
Jan. 31, 2024 | Apr. 30, 2023 | |
Property, Plant and Equipment [Line Items] | ||
Cost, Beginning balance | $ 2,811,580 | |
Accumulated depreciation, Beginning balance | 87,457 | |
Additions | ||
Disposal | (1,595,842) | |
Cost, Ending balance | 1,215,738 | |
Additions | 46,448 | |
Accumulated depreciation,Ending balance | 133,905 | |
Accumulated depreciation, balance | 1,081,833 | $ 2,724,123 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Cost, Beginning balance | 2,501,924 | |
Accumulated depreciation, Beginning balance | ||
Additions | ||
Disposal | (1,595,842) | |
Cost, Ending balance | 906,082 | |
Additions | ||
Accumulated depreciation,Ending balance | ||
Accumulated depreciation, balance | 906,082 | 2,501,924 |
Vehicles [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Cost, Beginning balance | 125,595 | |
Accumulated depreciation, Beginning balance | 37,679 | |
Additions | ||
Disposal | ||
Cost, Ending balance | 125,595 | |
Additions | 18,839 | |
Accumulated depreciation,Ending balance | 56,518 | |
Accumulated depreciation, balance | 69,077 | 87,916 |
Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Cost, Beginning balance | 43,180 | |
Accumulated depreciation, Beginning balance | 14,558 | |
Additions | ||
Disposal | ||
Cost, Ending balance | 43,180 | |
Additions | 6,477 | |
Accumulated depreciation,Ending balance | 21,035 | |
Accumulated depreciation, balance | 22,145 | 28,622 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Cost, Beginning balance | 140,881 | |
Accumulated depreciation, Beginning balance | 35,220 | |
Additions | ||
Disposal | ||
Cost, Ending balance | 140,881 | |
Additions | 21,132 | |
Accumulated depreciation,Ending balance | 56,352 | |
Accumulated depreciation, balance | $ 84,529 | $ 105,661 |
Convertible Loans (Details)
Convertible Loans (Details) - USD ($) | 9 Months Ended | ||||||
Oct. 04, 2023 | Mar. 02, 2023 | Jan. 09, 2023 | Jan. 09, 2023 | Jan. 31, 2024 | Jan. 31, 2023 | Apr. 30, 2023 | |
Convertible Loans (Details) [Line Items] | |||||||
Legal fees | $ 26,672 | ||||||
Repayment of convertible loan | $ 293,438 | $ 140,140 | |||||
Repayment comprised of principal | 32,583 | ||||||
Convertible loans payable | 65,167 | $ 260,855 | |||||
Convertible Loan Agreement [Member] | |||||||
Convertible Loans (Details) [Line Items] | |||||||
Convertible loan amount | $ 71,960 | $ 71,960 | |||||
Original issuance discount | 7,710 | 7,710 | |||||
Legal fees | 4,250 | 4,250 | |||||
Interest charges | $ 8,635 | ||||||
Monthly repayment | $ 8,060 | ||||||
Trading days | 10 | ||||||
Accrued interest | 3,584 | ||||||
Convertible Loan Agreement [Member] | Maximum [Member] | |||||||
Convertible Loans (Details) [Line Items] | |||||||
Interest rate | 150% | ||||||
Convertible Loan Agreement [Member] | Minimum [Member] | |||||||
Convertible Loans (Details) [Line Items] | |||||||
Interest rate | 75% | 75% | |||||
Additional Convertible Loan Agreement [Member] | |||||||
Convertible Loans (Details) [Line Items] | |||||||
Convertible loan amount | $ 97,750 | $ 225,874 | |||||
Original issuance discount | 12,750 | 24,202 | |||||
Legal fees | 17,750 | ||||||
Interest charges | 10,753 | 27,104 | |||||
Monthly repayment | $ 12,056 | $ 25,298 | |||||
Trading days | 10 | 10 | |||||
Additional Convertible Loan Agreement [Member] | Maximum [Member] | |||||||
Convertible Loans (Details) [Line Items] | |||||||
Interest rate | 150% | 150% | |||||
Additional Convertible Loan Agreement [Member] | Minimum [Member] | |||||||
Convertible Loans (Details) [Line Items] | |||||||
Interest rate | 75% | ||||||
Convertible Loan [Member] | |||||||
Convertible Loans (Details) [Line Items] | |||||||
Repayment of convertible loan | 36,167 | ||||||
Convertible Debenture [Member] | |||||||
Convertible Loans (Details) [Line Items] | |||||||
Accrued interest remains outstanding | $ 7,168 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2023 | Jan. 31, 2024 | Jan. 31, 2024 | Jan. 31, 2023 | Apr. 30, 2023 | |
Related Party Transactions [Line Items] | |||||
Disposal of property | $ (1,070,842) | $ (1,070,842) | |||
Board of Directors Chairman [Member] | |||||
Related Party Transactions [Line Items] | |||||
Loan balance | $ 525,000 | ||||
Related Party [Member] | |||||
Related Party Transactions [Line Items] | |||||
Due to related party | $ 80,503 | $ 80,503 | $ 42,000 |
Common Shares (Details)
Common Shares (Details) - USD ($) | 9 Months Ended | |||||||||
Jan. 04, 2024 | Dec. 11, 2023 | Nov. 13, 2023 | Sep. 07, 2023 | Jul. 10, 2023 | May 23, 2023 | Jan. 31, 2024 | Nov. 20, 2023 | Apr. 30, 2023 | Dec. 03, 2021 | |
Common Shares (Details) [Line Items] | ||||||||||
Common shares authorized | 5,000,000,000 | 5,000,000,000 | ||||||||
Par value per share (in Dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 | |||||||
Common stock, shares issued | 86,666,667 | 72,000,000 | 70,000,000 | 70,000,000 | 1,931,932,723 | 1,300,000 | 1,543,077,167 | |||
Fair value of consulting services (in Dollars) | $ 519 | |||||||||
Issued shares | 88,888,889 | 275 | ||||||||
Series C Preferred Stock [Member] | ||||||||||
Common Shares (Details) [Line Items] | ||||||||||
Conversion of shares | 20 | 26 | 21 | 21 | 21 | |||||
Par value (in Dollars per share) | $ 0.001 | $ 1,000 | ||||||||
Issued shares | 106 |
Preferred Shares (Details)
Preferred Shares (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||
Jan. 04, 2024 | Dec. 11, 2023 | May 24, 2022 | May 22, 2022 | Dec. 03, 2021 | Jan. 31, 2024 | Jan. 31, 2023 | Jan. 31, 2024 | Jan. 31, 2023 | Apr. 30, 2023 | May 23, 2023 | Jan. 27, 2022 | Dec. 08, 2021 | |
Preferred Shares [Line Items] | |||||||||||||
issuance shares | 88,888,889 | 275 | |||||||||||
Issued, net (in Dollars) | $ 88,000 | $ 76,000 | $ 99,000 | $ 370,000 | |||||||||
Net of issuance and transaction costs (in Dollars) | 6,000 | 7,000 | 4,000 | ||||||||||
Temporary equity (in Dollars) | $ 166,757 | $ 166,757 | $ 109,373 | ||||||||||
Warrant term | 5 years | ||||||||||||
Conversion price (in Dollars per share) | $ 0.01 | $ 0.01 | |||||||||||
Excepted life | 5 years | ||||||||||||
Risk free interest rate maximum | 1.70% | ||||||||||||
Gross proceeds of warrants (in Dollars) | $ 228,019 | ||||||||||||
Common Stock [Member] | |||||||||||||
Preferred Shares [Line Items] | |||||||||||||
Issued, net (in Dollars) | |||||||||||||
Net of issuance and transaction costs (in Dollars) | |||||||||||||
Minimum [Member] | |||||||||||||
Preferred Shares [Line Items] | |||||||||||||
Volatility, percentage | 314% | ||||||||||||
Risk free interest rate minimum | 1.20% | ||||||||||||
Maximum [Member] | |||||||||||||
Preferred Shares [Line Items] | |||||||||||||
Volatility, percentage | 318% | ||||||||||||
Warrant [Member] | |||||||||||||
Preferred Shares [Line Items] | |||||||||||||
Warrant term | 5 years | ||||||||||||
Series A Preferred Stock | |||||||||||||
Preferred Shares [Line Items] | |||||||||||||
Preferred Stock, Shares Authorized | 500,000 | 500,000 | 500,000 | ||||||||||
Preferred stock, par value (in Dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 | ||||||||||
Common shares | 1 | ||||||||||||
Common stock, voting shares | 10,000 | ||||||||||||
Series C Preferred Stock | |||||||||||||
Preferred Shares [Line Items] | |||||||||||||
Preferred stock, par value (in Dollars per share) | $ 1,000 | $ 0.001 | |||||||||||
Temporary equity, shares authorized | 7,600 | 7,600 | 7,600 | ||||||||||
issuance shares | 106 | ||||||||||||
Issued, net (in Dollars) | $ 99,000 | ||||||||||||
Annual dividend payments, percentage | 8% | 10% | |||||||||||
Fair value amount (in Dollars) | $ 40,000 | ||||||||||||
Conversion shares | 115 | ||||||||||||
Net of issuance and transaction costs (in Dollars) | $ 7,000 | ||||||||||||
Option issued (in Dollars) | $ 250,000 | ||||||||||||
Temporary equity share issued | 836 | 836 | 845 | ||||||||||
Temporary equity (in Dollars) | $ 1 | $ 1 | $ 1 | ||||||||||
Issued warrants | 61,885,671 | ||||||||||||
Conversion price per share (in Dollars per share) | $ 0.01067 | ||||||||||||
Conversion price (in Dollars per share) | $ 0.01045 | ||||||||||||
Series C Preferred Stock | Common Stock [Member] | |||||||||||||
Preferred Shares [Line Items] | |||||||||||||
Conversion shares | 387,555,556 | ||||||||||||
Series C Preferred Stock | Warrant [Member] | |||||||||||||
Preferred Shares [Line Items] | |||||||||||||
Issued warrants | 63,157,895 | ||||||||||||
Fair value warrants (in Dollars) | $ 1,228,018 | ||||||||||||
Series C Preferred Stock | Preferred Stock [Member] | |||||||||||||
Preferred Shares [Line Items] | |||||||||||||
Temporary equity, shares authorized | 7,600 | 7,600 | |||||||||||
Series C Preferred Stock | |||||||||||||
Preferred Shares [Line Items] | |||||||||||||
Temporary equity (in Dollars) | $ 166,756 | $ 166,756 | $ 109,372 | ||||||||||
December Agreement [Member] | Series C Preferred Stock | |||||||||||||
Preferred Shares [Line Items] | |||||||||||||
issuance shares | 600 | 609 | |||||||||||
May Agreement [Member] | Series C Preferred Stock | |||||||||||||
Preferred Shares [Line Items] | |||||||||||||
issuance shares | 250 | 236 | 236 | ||||||||||
Securities Purchase Agreement [Member] | Series C Preferred Stock | |||||||||||||
Preferred Shares [Line Items] | |||||||||||||
issuance shares | 1,000 | ||||||||||||
Issued, net (in Dollars) | $ 1,000,000 |
Preferred Shares (Details) - Sc
Preferred Shares (Details) - Schedule of Series C Shares Activities - Series C Preferred Stock | 9 Months Ended |
Jan. 31, 2024 shares | |
Schedule of Series C Shares Activities [Line Items] | |
Beginning balance | 845 |
Series C preferred stock issued | 106 |
Series C preferred stock converted into common shares | (115) |
Ending balance | 836 |
Share Purchase Warrants (Detail
Share Purchase Warrants (Details) - Schedule of Share Purchase Warrants | Jan. 31, 2024 $ / shares shares |
Schedule of Share Purchase Warrants [Abstract] | |
Number of warrants | shares | 125,043,566 |
Weighted average exercise price | $ / shares | $ 0.01 |
Share Purchase Warrants (Deta_2
Share Purchase Warrants (Details) - Schedule of Additional Information Regarding Share Purchase Warrants - Share Purchase Warrants [Member] | 9 Months Ended |
Jan. 31, 2024 $ / shares shares | |
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Range of Exercise Prices | $ / shares | $ 0.01 |
Outstanding and exercisable Number of Warrants | shares | 125,043,566 |
Outstanding and exercisable Weighted Average Remaining Contractual Life (years) | 2 years 10 months 24 days |
Commitments and Contingencies (
Commitments and Contingencies (Details) - USD ($) | 9 Months Ended | ||
May 28, 2020 | Jan. 31, 2024 | Jan. 31, 2023 | |
Commitments and Contingencies [Abstract] | |||
Investment Owned, Balance, Principal Amount (in Dollars) | $ 5,000,000 | ||
Lowest traded price | $ 80 | ||
Number of trading days | 10 years | ||
Floor price | $ 0.001 | ||
Unrelated party transaction costs (in Dollars) | $ 20,000 | $ 605,503 | $ 20,000 |
Convertible common share price | $ 0.01 |
Subsequent Events (Details)
Subsequent Events (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||||||
Feb. 19, 2024 | Jan. 04, 2024 | Dec. 11, 2023 | Jan. 31, 2024 | Jan. 31, 2023 | Jan. 31, 2024 | Jan. 31, 2023 | May 23, 2023 | Apr. 30, 2023 | Dec. 03, 2021 | |
Subsequent Events (Details) [Line Items] | ||||||||||
Aggregate value (in Dollars) | $ 88,000 | $ 76,000 | $ 99,000 | $ 370,000 | ||||||
Common shares issued (in Shares) | 88,888,889 | 275 | ||||||||
Par value per share | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | ||||||
Share issued price per shares | 0.75 | |||||||||
Common Stock [Member] | ||||||||||
Subsequent Events (Details) [Line Items] | ||||||||||
Par value per share | 0.01 | |||||||||
Series C Preferred Stock [Member] | ||||||||||
Subsequent Events (Details) [Line Items] | ||||||||||
Aggregate value (in Dollars) | $ 99,000 | |||||||||
Common shares issued (in Shares) | 106 | |||||||||
Share issued price per shares | 0.15 | |||||||||
Par value per share | $ 0.001 | $ 1,000 | ||||||||
Conversion shares (in Shares) | 115 | |||||||||
Class B Preferred Stock [Member] | ||||||||||
Subsequent Events (Details) [Line Items] | ||||||||||
Par value per share | $ 0.001 | |||||||||
Subsequent Event [Member] | ||||||||||
Subsequent Events (Details) [Line Items] | ||||||||||
Aggregate value (in Dollars) | $ 24,000 | |||||||||
Common shares issued (in Shares) | 88,888,889 | |||||||||
Sale of minerals to third party (in Dollars) | $ 272,000 | |||||||||
Subsequent Event [Member] | Series C [Member] | ||||||||||
Subsequent Events (Details) [Line Items] | ||||||||||
Conversion shares (in Shares) | 20 | |||||||||
Merger Agreement [Member] | Common Stock [Member] | ||||||||||
Subsequent Events (Details) [Line Items] | ||||||||||
Aggregate value (in Dollars) | $ 10,000,000 | |||||||||
Common shares issued (in Shares) | 275 |