Quarterly report pursuant to Section 13 or 15(d)

10. EARNINGS PER SHARE

10. EARNINGS PER SHARE

3 Months Ended

Jul. 31, 2019

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, 2019 and 2018, 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,
	2019			2018
Net loss	$	(1,134,075	)	$	(1,215,363	)
Basic weighted average number of shares outstanding		1,210,305,834			1,046,496,430
Diluted weighted average number of shares outstanding		1,210,305,834			1,046,496,430
Basic and diluted loss per share	$	(0.00	)	$	(0.00	)

The table below sets forth these potentially dilutive securities:

	Three Months Ended July 31,
	2019		2018
Excluded options		108,950,000		95,250,000
Excluded warrants		45,411,130		37,305,070
Total excluded options and warrants		154,361,130		132,555,070