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COMMON STOCK TRANSACTIONS
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3 Months Ended |
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Jul. 31, 2013
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| Equity [Abstract] | |
| COMMON STOCK TRANSACTIONS |
COMMON STOCK TRANSACTIONS
During the period ended July 31, 2013, 11,660,000 shares of Common Stock were issued to officers of the Company for compensation. These shares were valued using the closing share price of the Common Stock price on the day of issuance for a total non-cash expense of $1,192,008.
During the period ended July 31, 2013, 100,000 shares of Common Stock were issued for services. These shares were valued using the closing share price of the Common Stock price on the day of issuance for a total non-cash expense of $9,600.
During the period ended July 31, 2013, 13,000,000 shares of Common Stock were issued in a private placement financing for $1,560,000 in cash proceeds.
During the period ended July 31, 2013, the Company received $100,000 for the sale of common stock. As of July 31, 2013 the shares have not yet been issued.
In May 2013, the Company issued 26,000,000 shares of Common Stock in exchange for debt of $471,010 and accrued interest of $31,095. These shares were valued using the closing share price of the Common Stock price on the day of issuance for a total of $4,475,000 resulting in a loss on settlement of debt of $3,973,795.
During the period ended July 31, 2013, 75,000 shares of common stock were issued to settle debt of $32,392. The shares were valued using the closing share price of the Common Stock price on the day of issuance resulting in a gain on settlement of debt of $21,142.
During the period ended July 31, 2013, the shareholder converted 3,500 shares of the preferred stock into 4,000,000 shares of common stock. The shares were valued using the closing share price of the Common Stock price on the day of issuance for a total of $720,000 resulting in a loss on conversion of $640,000.
All shares were issued without registration under the Securities Act of 1933, as amended, in reliance upon the exemption afforded by Section 4(2) of that Act.
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