Quarterly report pursuant to Section 13 or 15(d)

6. STOCK OPTIONS AND WARRANTS (Tables)

v3.3.1.900
6. STOCK OPTIONS AND WARRANTS (Tables)
9 Months Ended
Jan. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Unvested employee stock option activity
      Options Outstanding     Weighted Average Grant Date Fair Value per Share  
  Non-vested, April 30, 2015       6,600,000     $ 0.10  
  Granted       15,600,000       0.06  
  Vested       6,700,000       0.08  
  Non-vested, January 31, 2016       15,500,000     $ 0.08  
Range of outstanding stock options
    Exercise Price
Exercise Price   $ 0.19     $ 0.11     $ 0.18     $ 0.063  
Number of Options     25,000,000       27,200,000       250,000       15,600,000  
Weighted Average Remaining Contractual Life (years)     3.67       3.92       4.22       4.92  
Weighted Average Stock Price   $ 0.19     $ 0.11     $ 0.18       0.063  
Number of Options Exercisable     25,000,000       27,200,000       250,000       15,600,000  
Weighted Average Contractual Life (years)     5       5       5       5  
Weighted Average Exercise Price   $ 0.19     $ 0.11     $ 0.18     $ 0.063  
Warrant activity
      Warrants     Weighted Average Price     Weighted Average Fair Value  
  Outstanding, April 30, 2015       72,969,908     $ 0.17     $ 0.08  
  Issued       17,000,000       0.12       0.12  
  Expired       (5,000,000 )     0.11       0.11  
  Outstanding, January 31, 2016       84,969,908       0.16       0.08  
  Exercisable, January 31, 2016       84,969,908     $ 0.16     $ 0.08  
Schedule of warrants outstanding by exercise range
Exercise Prices   Number of Warrant Shares Exercisable at January 31, 2016     Weighted Average Remaining Contractual Life     Exercisable Weighted Average Exercise Price  
Five Year Term - $0.08     1,056,000       1.69          
Five Year Term - $0.12     35,347,508       3.41          
Five Year Term - $0.18     19,811,200       1.91          
Five Year Term - $0.25     18,755,200       1.93          
Five Year Term - $0.11     10,000,000       4.15          
Total     84,969,908       2.80     $ 0.16