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 ($)
 9 Months Ended
Jan. 31, 2016
Jan. 31, 2015
Cash flows from operating activities:    
Net loss $ (4,941,720) $ (7,106,547)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock issued for services 443,684 665,205
Stock issued for compensation 309,240 567,550
Stock based compensation - options 499,836 4,307,822
Stock based compensation - warrants 905,340 100,000
Gain on recovery of stock for services 0 (2,183,332)
Change in assets and liabilities:    
Decrease in prepaid expenses and other current assets 110,838 31,926
Increase / (decrease) in accounts payable 200,623 187,749
Increase / (decrease) in accrued expenses 44,455 (5,085)
Decrease in license agreement obligation (700,000) (33,960)
Net cash used in operating activities (3,127,704) (3,468,672)
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 3,291,622 954,877
Repayment of debt, related parties 0 (143,859)
Net cash provided by financing activities 3,291,622 811,018
Effect of currency rate exchange on cash 327 0
Net increase (decrease) in cash 164,245 (2,657,654)
Cash at beginning of the period 2,699,737 3,616,470
Cash at end of the period 2,863,982 958,816
Supplementary disclosures of cash flows information:    
Cash paid during the period for interest $ 826 $ 1,518