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, 2018
Apr. 30, 2017
Cash flows from operating activities:    
Net loss $ (6,828,841) $ (4,443,685)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock issued for services 309,881 107,500
Stock issued for compensation 580,360 420,480
Stock based compensation - options 945,078 597,400
Change in operating assets and liabilities:    
Increase in prepaid expenses and other current assets (149,793) 36,234
Increase / (decrease) in accounts payable (12,979) 29,591
Increase / (decrease) in accrued expenses 76,899 63,018
Increase / (decrease) in license agreement obligation 0 (150,000)
Net cash used in operating activities (5,079,395) (3,339,462)
Cash flows from investing activities:    
Net cash used in investing activities 0 0
Cash flows from financing activities:    
Proceeds from sale of common stock, net of issuance costs 2,681,409 4,881,936
Net cash provided by financing activities 2,681,409 4,881,936
Effect of currency rate exchange on cash (6,445) 930
Net increase (decrease) in cash (2,404,431) 1,543,404
Cash at beginning of the year 3,464,229 1,920,825
Cash at end of the year 1,059,798 3,464,229
Supplementary disclosures of cash flows information:    
Cash paid during the year for interest 0 1,539
Cash paid during the years for taxes $ 800 $ 800