Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.3.1.900
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Oct. 31, 2015
Oct. 31, 2014
Cash flows from operating activities:    
Net loss $ (3,150,620) $ (5,648,497)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock issued for services 333,216 297,500
Stock issued for compensation 254,040 480,350
Stock based compensation - options 287,928 4,307,822
Stock based compensation - warrants 679,930 100,000
Gain on recovery of stock for services 0 (2,183,331)
Change in assets and liabilities:    
(Increase) / decrease in prepaid expenses and current assets (80,500) 195,496
Increase / (decrease) in accounts payable (69,491) 84,067
Increase / (decrease) in accrued expenses 29,130 (37,012)
Decrease in license agreement obligation (400,000) 0
Net cash used in operating activities (2,116,367) (2,403,606)
Cash flows from investing activities:    
Net cash provided by (used in) investing activities 0 0
Cash flows from financing activities:    
Proceeds from the sale of common stock 1,728,935 86,000
Repayment of debt, related party 0 (143,859)
Net cash provided by (used in) financing activities 1,728,935 (57,859)
Effect of currency rate exchange on cash 125 0
Net decrease in cash (387,307) (2,461,465)
Cash at beginning of the period 2,699,737 3,616,470
Cash at end of the period 2,312,430 1,155,005
Supplementary disclosures of cash flows information:    
Cash paid during the year for interest $ 826 $ 0