|
6. COMMON STOCK TRANSACTIONS
|
9 Months Ended |
|---|---|
|
Jan. 31, 2015
|
|
| Equity [Abstract] | |
| COMMON STOCK TRANSACTIONS |
As of the quarter ended January 31, 2015, the Company issued 2,600,000 shares of common stock to officers as part of their compensation agreements dating back to September 1, 2013. The non-cash expense for this share issuance was accrued in previous periods and totals $613,790. In addition, the Company issued 400,000 shares of common stock to officers as part of their compensation agreements. The shares were valued using the closing share price of the common stock on the date the accrual of the compensation for a total of a non-cash expense of $87,200.
As of the quarter ended January 31, 2015, the Company issued 1,284,150 shares of common stock to consultants. The non-cash expense for this share issuance totals $244,206. In addition, the Company accrued but has not yet issued 500,000 shares of common stock to a consultant for a non-cash expense of $123,500.
All shares were issued without registration under the Securities Act in reliance upon the exemption afforded by Section 4(a)(2) of the Securities Act.
As of the quarter ended January 31, 2015, the Company issued 5,159,392 registered shares of common stock resulting in net proceeds of $868,877. |