Quarterly report pursuant to Section 13 or 15(d)

12. EARNINGS PER SHARE

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12. EARNINGS PER SHARE
 6 Months Ended
Oct. 31, 2017
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

Basic earnings (loss) per share is computed by dividing earnings available to common stockholders by the weighted average number of shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted average number of shares and potentially dilutive common shares outstanding during the period increased to include the number of additional shares of common stock that would be outstanding if the potentially dilutive securities had been issued. Potential common shares outstanding principally include stock options and warrants. During the six months ended October 31, 2017 and 2016, the Company incurred losses. Accordingly, the effect of any common stock equivalent would be anti-dilutive during those periods and are not included in the calculation of diluted weighted average number of shares outstanding.

 

The table below sets forth the basic loss per share calculations:

 

    Six Months Ended October 31,  
    2017     2016  
Net loss   $ (3,502,713 )   $ (2,006,517 )
Basic weighted average number of shares outstanding     949,373,602       818,540,900  
Diluted weighted average number of shares outstanding     949,373,602       818,540,900  
Basic and diluted loss per share   $ (0.00 )   $ (0.00 )

  

The table below sets forth these potentially dilutive securities:

 

    Six Months Ended October 31,  
    2017     2016  
Excluded options     86,250,000       81,150,000  
Excluded warrants     53,072,437       84,969,908  
Total excluded options and warrants     139,322,437       166,119,908  

 

    Three Months Ended October 31,  
    2017     2016  
Net loss   $ (1,814,298 )   $ (974,551 )
Basic weighted average number of shares outstanding     973,167,811       848,910,100  
Diluted weighted average number of shares outstanding     973,167,811       848,910,100  
Basic and diluted loss per share   $ (0.00 )   $ (0.00 )

  

The table below sets forth these potentially dilutive securities:

 

    Three Months Ended October 31,  
    2017     2016  
Excluded options     86,250,000       81,150,000  
Excluded warrants     53,072,437       84,969,908  
Total excluded options and warrants     139,322,437       166,119,908