Quarterly report pursuant to Section 13 or 15(d)

PREPAID EXPENSES AND OTHER CURRENT ASSETS

v3.21.2
PREPAID EXPENSES AND OTHER CURRENT ASSETS
 3 Months Ended
Jul. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
PREPAID EXPENSES AND OTHER CURRENT ASSETS

5. PREPAID EXPENSES AND OTHER CURRENT ASSETS

 

Prepaid expenses and other current assets are as follows:

 

    July 31, 2021     April 30, 2021  
Prepaid consulting fees   $ 396,667     $ 966,260  
Other prepaid expenses     786,612       850  
Other receivables     16,210       16,210  
Total prepaid expenses and other current assets   $ 1,199,489     $ 983,320  

 

 

On June 14, 2021, the Company purchased D&O insurance for 12 months in the amount of $855,000. Other prepaid expenses at July 31, 2021 represents the unamortized portion of annual premium paid for this policy. Prepaid consulting fees of $396,000 consisted of payments to Spartan and TAMM Net.