Quarterly report pursuant to Section 13 or 15(d)

Property, Plant, and Equipment

Property, Plant, and Equipment

6 Months Ended

Oct. 31, 2011

Property, Plant and Equipment Disclosure [Text Block]

NOTE 6 - FIXED ASSETS

Fixed assets consisted of the following:

	October 31, 2011	April 30,2011
Building	$ -	$ -
Computers	59,838	59,838
Furniture and fixtures	13,335	13,335
Lab equipment	147,202	147,202
	220,375	220,375
Less: accumulated depreciation	(182,315)	(165,935)
	$ 38,060	$ 54,440

Depreciation expense for the six months ended October 31, 2011 and April 30, 2011 was $16,380 and $88,800, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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