Quarterly report pursuant to Section 13 or 15(d)

Equity

v2.4.0.6
Equity
 9 Months Ended
Jan. 31, 2012
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Note Disclosure [Text Block]

NOTE 9 - COMMON STOCK TRANSACTIONS

 

During the nine months ended January 31, 2012, the company authorized the issuance of 13,225,000 shares of common stock for compensation to its officers for total expense of $837,678. As of January 31, 2012 these shares had not yet been issued by the transfer agent and were recorded as stock payable. Shares were valued using the closing stock price on the date of grant.

 

In August 2011, 1,000,000 shares of common stock were issued for compensation to Robert Bowker. Shares were valued using the closing stock price on the day of granting for a total expense of $54,500.

 

During the three months ended July 31, 2011, 9,750,000 shares of common stock were issued to various investors for $621,000 cash received. $148,000 of this amount was recorded as a stock receivable in the first quarter and was subsequently received in full as of October 31, 2011.

 

During the year ended April 30, 2011, the company authorized the issuance of 1,375,000 shares of common stock for compensation to its officers for total expense of $37,750.  As of January 31, 2012 1,125,000 of these shares had not yet been issued by the transfer agent.

 

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. No underwriters were involved.