Annual report pursuant to Section 13 and 15(d)

9. STOCK OPTIONS AND WARRANTS (Tables)

v3.3.1.900
9. STOCK OPTIONS AND WARRANTS (Tables)
12 Months Ended
Apr. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Assumptions
    April 30,  
    2015     2014     2013  
Risk-free interest rate     2 %            
Expected volatility     145 %            
Expected lives (years)     5              
Expected dividend yield     0.00 %     0.00 %     0.00 %
Unvested employee stock option activity
      Options Outstanding       Weighted Average Grant Date Fair Value per Share  
Nonvested, April 30, 2012         $  
Granted              
Vested              
Forfeited              
Nonvested, April 30, 2013            
Granted              
Vested              
Forfeited              
Nonvested, April 30, 2014              
Granted     47,200,000     $ 0.14  
Vested     40,600,000       0.15  
Forfeited              
Nonvested, April 30, 2015     6,600,000     $ 0.10  
Employee stock option activity
      Options Outstanding       Weighted Average Grant Date Fair Value per Share  
Nonvested, April 30, 2012         $  
Granted              
Vested              
Forfeited              
Nonvested, April 30, 2013            
Granted              
Vested              
Forfeited              
Nonvested, April 30, 2014              
Granted     5,250,000     $ 0.19  
Vested     5,250,000       0.19  
Forfeited              
Nonvested, April 30, 2015         $  
Range of outstanding stock options
    Exercise Prices  
Range of Exercise Price   $ 0.19     $ 0.11     $ 0.18  
Number of Options     25,000,000       27,200,000       250,000  
Weighted Average Remaining Contractual Life (years)     4.42       4.67       4.98  
Weighted Average Stock Price   $ 0.19     $ 0.10     $ 0.18  
Number of Options Exercisable     25,000,000       27,200,000       250,000  
Weighted Average Contractual Life (years)     5       5       5  
Weighted Average Exercise Price   $ 0.19     $ 0.10     $ 0.18  
Warrant activity
      Warrants       Weighted Average Price       Weighted Average Fair Value  
Outstanding, April 30, 2012         $     $  
Issued     59,433,600       0.125       0.064  
Exercised                      
Outstanding, April 30, 2013     59,433,600       0.125       0.064  
Issued                    
Exercised     (1,768,000 )            
Outstanding, April 30, 2014     57,665,600       0.18       0.065  
Issued     15,854,308                  
Exercised     (550,000 )                
Outstanding, April 30, 2015     72,969,908                  
Exercisable, April 30, 2015     72,969,908     $ 0.17     $ 0.075  
Schedule of warrants outstanding and exercisable
Range of Exercise Prices   Number of Warrant Shares Exercisable at 04/30/2015      Weighted Average Remaining Contractual Life     Exercisable Weighted Average Exercise Price  
$0.075, $0.11, $0.12, $0.18 and $0.25     72,969,908       2.86       0.17  
                         
Five Year Term    -    $0.075     1,056,000       2.45          
Five Year Term    -     $0.12     18,347,508       2.75          
Five Year Term    -    $0.18     19,811,200       2.67          
Five Year Term    -    $0.25     18,755,200       2.68          
Five Year Term    -    $0.11     10,000,000       4.90          
Nine Month Term -    $0.11     5,000,000       0.67          
      72,969,908