Quarterly report pursuant to Section 13 or 15(d)

10. EARNINGS PER SHARE

10. EARNINGS PER SHARE

3 Months Ended

Jul. 31, 2018

NOTE 10 – 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 three months ended July 31, 2018 and 2017, 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:

	Three Months Ended July 31,
	2018			2017
Net loss	$	(1,215,363	)	$	(1,688,415	)
Basic weighted average number of shares outstanding		1,046,496,430			925,579,393
Diluted weighted average number of shares outstanding		1,046,496,430			925,579,393
Basic and diluted loss per share	$	(0.00	)	$	(0.00	)

The table below sets forth these potentially dilutive securities:

	Three Months Ended July 31,
	2018		2017
Excluded options		95,250,000		85,750,000
Excluded warrants		37,305,070		70,686,837
Total excluded options and warrants		132,555,070		156,436,837