Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
 12 Months Ended
Apr. 30, 2014
Apr. 30, 2013
Cash flows from operating activities:    
Net loss $ (27,254,020) $ (1,598,102)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock issued for services 17,928,309 984,696
Loss on settlement of debt 3,993,295 39,000
Loss on conversion of preferred stock 5,895,000 0
Gain on forgiveness of debt (1,633,380) (277,085)
Stock issued for interest expense 0 102,203
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 (442,236) 62,667
Increase (decrease) in accounts payable (59,191) 97,708
Increase in accrued interest, related party 16,012 40,798
Increase in accrued expenses 1,503 153,957
Increase in other assets (7,854) 0
Net cash used in operating activities (1,562,562) (390,426)
Cash flows from investing activities:    
Purchase of licenses (3,500,000) (646,750)
Payments towards acquisition (51,215) 0
Net cash used by investing activities (3,551,215) (646,750)
Cash flows from financing activities:    
Proceeds from the sale of common stock 8,510,880 1,146,000
Proceeds from borrowings, related party 81,586 149,756
Repayment of debt, related party (61,522) (75,000)
Net cash provided by financing activities 8,530,944 1,220,756
Net increase in cash 3,417,167 183,580
Cash at beginning of period 199,303 15,723
Cash at end of period 3,616,470 199,303
Supplementary non-cash disclosures:    
Cash paid for interest 4,117 0
Franchise and income taxes 0 0
Common stock issued for debt $ 765,981 $ 143,596