Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.5.0.2
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Apr. 30, 2016
Apr. 30, 2015
Apr. 30, 2014
Cash flows from operating activities:      
Net loss $ (6,063,784) $ (9,927,706) $ (27,254,020)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock issued for services 491,684 826,023 17,928,309
Stock issued for compensation 405,080 735,189 0
Stock based compensation - options 788,770 5,236,901 0
Stock based compensation - warrants 905,340 240,420 0
Gain on settlements 0 (3,337,967) 0
Gain on recovery of stock issued for services 0 (74,436) 0
Loss on settlement of debt 0 0 3,993,295
Loss on conversion of preferred stock 0   5,895,000
Gain on forgiveness of debt 0 0 (1,633,380)
Change in assets and liabilities:      
(Increase) / decrease in prepaid expenses and current assets 9,231 450,849 (442,236)
Increase / (decrease) in accounts payable (160,690) 308,654 (59,191)
Increase / (decrease) in accrued expenses 127,963 (18,096) 17,515
Increase in license agreement obligation (850,000) 1,000,000 0
Net cash used in operating activities (4,346,406) (4,560,169) (1,554,708)
Cash flows from investing activities:      
Purchase of intangibles 0 0 (3,500,000)
Payment towards lease deposit 0 0 (7,854)
Payments towards acquisition 0 0 (51,215)
Net cash used by investing activities 0 0 (3,559,069)
Cash flows from financing activities:      
Proceeds from the sale of common stock 3,568,150 3,785,833 8,510,880
Proceeds from borrowings, related party 0 0 81,586
Repayment of debt, related party 0 (143,859) (61,522)
Net cash provided by financing activities 3,568,150 3,641,974 8,530,944
Effect of currency rate exchange on cash (656) 1,462 0
Net increase (decrease) in cash (778,912) (916,733) 3,417,167
Cash at beginning of the year 2,699,737 3,616,470 199,303
Cash at end of the year 1,920,825 2,699,737 3,616,470
Supplementary disclosures of cash flows information:      
Cash paid during the year for interest 1,191 45,141 4,117
Non-cash investing and financing activities:      
Common stock issued in settlement of debt $ 0 $ 0 $ 765,981