Annual report pursuant to Section 13 and 15(d)

Statements of Cash Flows

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Statements of Cash Flows (USD $)
 12 Months Ended
Apr. 30, 2012
Apr. 30, 2011
Net Income Loss    
Net loss $ (1,899,312) $ (1,397,716)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock issued for services 1,570,280 130,000
Stock issued for interest expense 101,750   
Shares pledged as collateral    730,281
Depreciation and amortization 24,659 40,688
(Gain)/Loss on conversion of debt (370,619) 95,000
Loss on disposal of fixed assets 79,503 12,411
Bad debt expense 6,497 9,050
Net amortization of discount/premium (10,798) (10,798)
Change in assets and liabilities:    
(Increase) decrease in accounts receivable (6,762) (931)
(Increase) decrease in inventory 11,860 (16,178)
(Increase) decrease in prepaid expenses (132,826) (26,524)
Increase in accounts payable 173,825 30,944
Increase (decrease) in accrued expenses 192,654 178,541
Net cash used in operating activities (259,289) (225,232)
Cash flows from investing activities:    
Payments towards acquisition (874,230)   
Proceeds from sale of fixed assets 2,500   
Net cash used in investing activities (871,730)   
Cash flows from financing activities:    
Proceeds from the sale of common stock 21,000 100,000
Contributed capital    64,288
Proceeds from loans & cash advances 660,000   
Repayment of loans & cash advances (100,000)   
Proceeds from loans, related party 533,546 117,429
Repayment of loans, related party (25,005)   
Net cash provided by financing activities 1,089,541 281,717
Net increase (decrease) in cash (41,478) 56,485
Cash at beginning of period 57,201 716
Cash at end of period 15,723 57,201
Supplementary non-cash disclosures:    
Cash paid for interest      
Loan conversion of debt to preferred stock    80,000
Common stock issued for cash advances 600,000   
Temporary equity    $ (80,000)