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BUSINESS ACQUISITION
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3 Months Ended |
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Jul. 31, 2013
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| Equity Method Investments and Joint Ventures [Abstract] | |
| ASSET PURCHASE |
BUSINESS ACQUISITION
As of July 31, 2013, Nuvilex completed the purchase of BBB, a subsidiary of SG Austria. Shares for both ASPL and Nuvilex originally held in escrow under the purchase agreement have been released from escrow and returned to the respective original owners. In addition, the 100,000,000 restricted shares of Common Stock, which were going to be issued as set forth under the terms of the original purchase agreement, have instead been returned to the Company treasury and were not issued. BBB is now a wholly owned subsidiary of Nuvilex and the Company is presently working to complete necessary audits, finalize legalization documents, and align BBB's fiscal year with that of the Company prior to consolidation of the financial statements of BBB with the financial statements of the Company. SG Austria and ASPL are now contract manufacturing organizations and research entities that the Company is working with to produce encapsulated product(s).
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