Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
 9 Months Ended
Jan. 31, 2014
Jan. 31, 2013
Cash flows from operating activities:    
Net loss $ (10,783,209) $ (1,270,929)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock issued for services 1,152,396 635,396
Stock issued for compensation 1,333,348 0
Loss on settlement of debt 3,973,795 39,000
Loss on conversion of preferred stock 5,895,000 0
Gain on forgiveness of debt (1,633,380) (111,968)
Stock issued for interest expense 0 57,133
Net amortization of discount/premium 0 (5,695)
Change in assets and liabilities:    
(Increase) / decrease in accounts receivable 0 2,581
(Increase) / decrease in inventory 0 6,846
(Increase) / decrease in prepaid expenses (547,937) 157,683
Increase (decrease) in accounts payable (58,724) 97,988
Increase in accrued interest, related party 12,770 29,531
Increase in accrued expenses 39,473 114,959
Net cash used in operating activities (616,468) (247,475)
Cash flows from investing activities:    
Purchase of licenses (2,500,000) 0
Payments towards acquisition (51,215) (481,750)
Net cash used by investing activities (2,551,215) (481,750)
Cash flows from financing activities:    
Proceeds from the sale of common stock 3,828,000 685,325
Proceeds from borrowings, related party 77,869 61,511
Stock subscription receivable (50,000) 0
Repayment of debt, related party (22,594) 0
Net cash provided by financing activities 3,833,275 746,836
Net increase in cash 665,592 17,611
Cash at beginning of period 199,303 15,723
Cash at end of period 864,895 33,334
Supplementary non-cash disclosures:    
Cash paid for interest 0 0
Franchise and income taxes 0 0
Common stock issued for debt $ 714,061 $ 112,409