Quarterly report pursuant to Section 13 or 15(d)

10. EARNINGS PER SHARE

10. EARNINGS PER SHARE

9 Months Ended

Jan. 31, 2020

NOTE 10 – EARNINGS PER SHARE

Basic earnings (loss) per share is computed by dividing earnings available to stockholders who own Common Stock 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 shares of Common Stock 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 shares of Common Stock outstanding principally include stock options and warrants. During the nine months ended January 31, 2020 and 2019, 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:

	Nine Months Ended January 31,
	2020			2019
Net loss	$	(3,076,505	)	$	(2,928,284	)
Basic weighted average number of shares outstanding		1,284,500,731			1,084,053,016
Diluted weighted average number of shares outstanding		1,284,500,731			1,084,053,016
Basic and diluted loss per share	$	(0.00	)	$	(0.00	)

The table below sets forth these potentially dilutive securities:

	Nine Months Ended January 31,
	2020		2019
Excluded options		94,650,000		96,450,000
Excluded warrants		48,056,822		39,577,797
Total excluded options and warrants		142,706,822		136,027,797

	Three Months Ended January 31,
	2020			2019
Net loss	$	(875,308	)	$	(676,347	)
Basic weighted average number of shares outstanding		1,375,499,976			1,126,904,505
Diluted weighted average number of shares outstanding		1,375,499,976			1,126,904,505
Basic and diluted loss per share	$	(0.00	)	$	(0.00	)