$PMCB

NUVILEX, INC.

CIK:0001157075|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)	3 Months Ended
	Jul. 31, 2026	Jul. 31, 2025
Income Statement [Abstract]
Revenue	$ 0	$ 0
Operating expenses:
Research and development costs	60,000	95,157
General and administrative	946,708	753,148
Total operating expenses	1,006,708	848,305
Loss from operations	(1,006,708)	(848,305)
Other income (expense):
Interest income	166,278	217,793
Dividend income	240,884	0
Change in fair value of warrant liability	4,221,000	243,000
Change in fair value of derivative liability	597,000	0
Change in fair value of convertible note receivable – Femasys	0	912,000
Change in fair value of warrant asset – Femasys	(414,000)	(1,215,000)
Change in fair value of investment – QCLS	(5,550,000)	(2,839,000)
Change in fair value of warrant assets – QCLS	(3,181,000)	(4,832,000)
Gain on legal settlement – re-fair value of warrants	0	106,000
Unrealized loss on marketable securities	(154,548)	(104,463)
Other expense, net	(97)	(121)
Total other income (expense), net	(4,074,483)	(7,511,791)
Income tax benefit (expense)	0	0
Net loss	(5,081,191)	(8,360,096)
Preferred stock dividends	(83,399)	0
Preferred stock accretion	(621,217)	0
Net loss attributable to common stockholders	$ (5,785,807)	$ (8,360,096)
Basic income (loss) per share attributable to common stockholders	$ (0.54)	$ (1.23)
Diluted income (loss) per share attributable to common stockholders	$ (0.54)	$ (1.23)
Weighted average shares outstanding basic	10,735,649	6,795,779
Weighted average shares outstanding diluted	10,735,649	6,795,779

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	3 Months Ended
	Jul. 31, 2026	Jul. 31, 2025
Cash flows from operating activities:
Net loss	$ (5,081,191)	$ (8,360,096)
Adjustments to reconcile net loss to net cash used in operating activities:
Gain on re-fair value of warrants	0	(106,000)
Adjustment from accrued liabilities to warrant liabilities	0	(469,000)
Stock-based compensation - options	0	60,492
Unrealized loss on marketable equity securities	154,548	104,463
Change in fair value of warrant liabilities	(4,221,000)	(243,000)
Change in fair value of derivative liability	(597,000)	0
Change in fair value of convertible note receivable - Femasys	0	(912,000)
Change in fair value of warrant asset – Femasys	414,000	1,215,000
Change in fair value of investment – QCLS	5,550,000	2,839,000
Change in fair value of warrants - QCLS	3,181,000	4,832,000
Change in assets and liabilities:
Increase in prepaid expenses and other current assets	(123,509)	(14,421)
Increase in accounts payable	119,433	66,005
Decrease in accrued expenses	(177,175)	(1,006,424)
Net cash and cash equivalents used in operating activities	(780,894)	(1,993,981)
Cash flows from financing activities:
Payment of Series C convertible preferred stock dividends	(83,399)	0
Net cash and cash equivalents used in financing activities	(83,399)	0
Effect of currency rate exchange on cash and cash equivalents	(615)	123
Net decrease in cash and cash equivalents	(864,908)	(1,993,858)
Cash and cash equivalents at beginning of the period	18,603,899	15,172,163
Cash and cash equivalents at end of the period	17,738,991	13,178,305
Supplemental disclosure of non-cash investing and financing activities:
Accrual of Series C Convertible Preferred Stock dividends	83,399	0
Accretion of discounts to redemption value of Series C Preferred Stock	$ 621,217	$ 0

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jul. 31, 2026	Apr. 30, 2026
Current assets:
Cash and cash equivalents	$ 17,738,991	$ 18,603,899
Marketable equity securities	99,462	254,010
Dividends receivable	429,150	240,766
Investment in preferred stock - QCLS - current	12,675,000	18,225,000
Prepaid expenses and other current assets	32,004	96,879
Total current assets	30,974,607	37,420,554
Other assets:
Warrant asset – QCLS – non current	5,664,000	8,845,000
Warrant asset – Femasys	66,000	480,000
Other assets	7,688	7,688
Total other assets	5,737,688	9,332,688
Total Assets	36,712,295	46,753,242
Current liabilities:
Accounts payable	390,535	271,102
Accrued expenses	345,656	522,831
Accrued Series C dividends	32,491	32,491
Total current liabilities	768,682	826,424
Other liabilities:
Warrant liabilities	5,847,000	10,068,000
Derivative liabilities	281,000	878,000
Total other liabilities	6,128,000	10,946,000
Total Liabilities	6,896,682	11,772,424
Commitments and Contingencies (Note 8)
Temporary Equity:
Contingently redeemable warrants	417,000	417,000
Total temporary equity	2,307,109	1,685,892
Stockholders’ equity:
Common stock: authorized 200,000,000 shares, $0.0001 par value; 26,005,715 shares issued and 10,735,649 shares outstanding as of July 31, 2026 and April 30, 2026, respectively	2,602	2,602
Additional paid-in capital	182,011,659	182,716,275
Accumulated deficit	(109,474,805)	(104,393,614)
Treasury stock, at cost, 15,270,066 shares as of July 31, 2026, and April 30, 2026, respectively	(45,009,541)	(45,009,541)
Accumulated other comprehensive loss	(21,411)	(20,796)
Total stockholders’ equity	27,508,504	33,294,926
Total Liabilities, Temporary Equity and Stockholders’ Equity	36,712,295	46,753,242
Series C Preferred Stock [Member]
Temporary Equity:
Convertible preferred stock	1,890,109	1,268,892
Series A Preferred Stock [Member]
Stockholders’ equity:
Preferred stock value	$ 0	$ 0