Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Apr. 30, 2015
Apr. 30, 2014
Apr. 30, 2013
Cash flows from operating activities:      
Net loss $ (9,927,706) $ (27,254,020) $ (1,598,102)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock issued for services 826,023 17,928,309 984,696
Stock issued for compensation 735,189 0 0
Stock based compensation - options 5,236,901 0 0
Stock based compensation - warrants 240,420 0 0
Gain on settlements (3,337,967) 0 0
Gain on recovery of stock issued for services (74,436) 0 0
Loss on settlement of debt 0 3,993,295 39,000
Loss on conversion of preferred stock 0 5,895,000 0
Gain on forgiveness of debt 0 (1,633,380) (277,085)
Stock issued for interest expense 0 0 102,203
Amortization of discount/premium 0 0 (5,695)
Change in assets and liabilities:      
Decrease in accounts receivable 0 0 2,581
Decrease in inventory 0 0 6,846
(Increase) / decrease in prepaid expenses and current assets 450,849 (442,236) 62,667
Increase / (decrease) in accounts payable 308,654 (59,191) 97,708
Increase / (decrease) in accrued expenses (18,096) 17,515 194,755
Increase in license agreement obligation 1,000,000 0 0
Net cash used in operating activities (4,560,169) (1,554,708) (390,426)
Cash flows from investing activities:      
Purchase of licenses 0 (3,500,000) (646,750)
Payment towards lease deposit 0 (7,854) 0
Payments towards acquisition 0 (51,215) 0
Net cash used by investing activities 0 (3,559,069) (646,750)
Cash flows from financing activities:      
Proceeds from the sale of common stock 3,785,833 8,510,880 1,146,000
Proceeds from borrowings, related party 0 81,586 149,756
Repayment of debt, related party (143,859) (61,522) (75,000)
Net cash provided by financing activities 3,641,974 8,530,944 1,220,756
Effect of currency rate exchange on cash 1,462 0 0
Net increase (decrease) in cash (916,733) 3,417,167 183,580
Cash at beginning of the year 3,616,470 199,303 15,723
Cash at end of the year 2,699,737 3,616,470 199,303
Supplementary disclosures of cash flows information:      
Cash paid during the year for interest 45,141 4,117 0
Non-cash investing and financing activities:      
Common stock issued in settlement of debt $ 0 $ 765,981 $ 143,596