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, 2020
Apr. 30, 2019
Cash flows from operating activities:    
Net loss $ (3,826,888) $ (4,067,228)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock issued for services 473,141 316,539
Stock issued for compensation 368,650 293,329
Stock-based compensation - options 379,375 412,349
Change in operating assets and liabilities:    
Increase in prepaid expenses and other current assets (4,634) 85,916
Increase (decrease) in accounts payable 63,958 (230,736)
Increase in accrued expenses 208,025 311,919
Net cash used in operating activities (2,338,373) (2,877,912)
Cash flows from investing activities:    
Net cash used in investing activities 0 0
Cash flows from financing activities:    
Proceeds from sale of Series A Preferred Stock 1 0
Repurchase of Series A Preferred Stock (1) 0
Use of funds for payment of insurance financing loan (12,352) 0
Proceeds from Small Business Administration - Paycheck Protection Program 75,200 0
Proceeds from sale of common stock, net of issuance costs 2,663,000 2,342,500
Net cash provided by financing activities 2,725,848 2,342,500
Effect of currency rate exchange on cash (7,867) (9,133)
Net increase (decrease) in cash 379,608 (544,545)
Cash at beginning of the year 515,253 1,059,798
Cash at end of the year 894,861 515,253
Supplemental disclosures of cash flows information:    
Cash paid during the years for taxes 800 800
Cash paid during the year for interest expense 453 0
Supplemental schedule of noncash investing and financing activity:    
Issuance costs for shares issued $ 0 $ 17,500