9. STOCK OPTIONS AND WARRANTS (Tables)
|
12 Months Ended |
Apr. 30, 2016 |
|---|
| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
|
| Assumptions |
| |
|
April 30, |
| |
|
2016 |
|
2015 |
|
2014 |
| Risk-free interest rate |
|
|
2% |
|
|
|
2% |
|
|
|
– |
|
| Expected volatility |
|
|
140% |
|
|
|
145% |
|
|
|
– |
|
| Expected lives (years) |
|
|
3.0 |
|
|
|
2.7 |
|
|
|
– |
|
| Expected dividend yield |
|
|
0.00% |
|
|
|
0.00% |
|
|
|
– |
|
|
| Employee stock option activity |
| |
|
|
Options |
|
|
|
Weighted Average Grant Date Fair
Value per Share |
|
| Non-vested, April 30, 2013 |
|
|
– |
|
|
$ |
– |
|
| Granted |
|
|
– |
|
|
|
– |
|
| Vested |
|
|
– |
|
|
|
– |
|
| Forfeited |
|
|
– |
|
|
|
– |
|
| Non-vested, April 30, 2014 |
|
|
– |
|
|
|
– |
|
| Granted |
|
|
52,450,000 |
|
|
|
0.11 |
|
| Vested |
|
|
(45,850,000 |
) |
|
|
- |
|
| Forfeited |
|
|
– |
|
|
|
– |
|
| Non-vested, April 30, 2015 |
|
|
6,600,000 |
|
|
|
- |
|
| Granted |
|
|
15,600,000 |
|
|
|
0.05 |
|
| Vested |
|
|
(11,800,000 |
) |
|
|
- |
|
| Forfeited |
|
|
– |
|
|
|
– |
|
| Non-vested, April 30, 2016 |
|
|
10,400,000 |
|
|
$ |
0.05 |
|
|
| Unvested employee stock option activity |
| |
|
|
Options |
|
|
|
Weighted Average Grant Date Fair
Value per Share |
|
| Non-vested, April 30, 2013 |
|
|
– |
|
|
$ |
– |
|
| Granted |
|
|
– |
|
|
|
– |
|
| Vested |
|
|
– |
|
|
|
– |
|
| Forfeited |
|
|
– |
|
|
|
– |
|
| Non-vested, April 30, 2014 |
|
|
– |
|
|
|
– |
|
| Granted |
|
|
52,450,000 |
|
|
|
0.11 |
|
| Vested |
|
|
(45,850,000 |
) |
|
|
- |
|
| Forfeited |
|
|
– |
|
|
|
– |
|
| Non-vested, April 30, 2015 |
|
|
6,600,000 |
|
|
|
- |
|
| Granted |
|
|
15,600,000 |
|
|
|
0.05 |
|
| Vested |
|
|
(11,800,000 |
) |
|
|
- |
|
| Forfeited |
|
|
– |
|
|
|
– |
|
| Non-vested, April 30, 2016 |
|
|
10,400,000 |
|
|
$ |
0.05 |
|
|
| Range of outstanding stock options |
| |
|
Exercise Price |
| Exercise Price |
|
$ |
0.19 |
|
|
$ |
0.11 |
|
|
$ |
0.18 |
|
|
$ |
0.063 |
|
| Number of Options Outstanding |
|
|
25,000,000 |
|
|
|
27,200,000 |
|
|
|
250,000 |
|
|
|
15,600,000 |
|
| Weighted Average Remaining Contractual Life (years) of Outstanding
Options |
|
|
3.42 |
|
|
|
3.67 |
|
|
|
3.97 |
|
|
|
4.67 |
|
| Weighted Average Exercise Price |
|
$ |
0.19 |
|
|
$ |
0.11 |
|
|
$ |
0.18 |
|
|
$ |
0.063 |
|
| Number of Options Exercisable |
|
|
25,000,000 |
|
|
|
27,200,000 |
|
|
|
250,000 |
|
|
|
5,200,000 |
|
| Weighted Average Exercise Price of Exercisable Options |
|
$ |
0.19 |
|
|
$ |
0.11 |
|
|
$ |
0.18 |
|
|
$ |
0.063 |
|
|
| Warrant activity |
| |
|
Warrants |
|
Weighted Average Exercise
Price |
| Outstanding, April 30, 2013 |
|
|
59,433,600 |
|
|
$ |
0.125 |
|
| Issued |
|
|
– |
|
|
|
– |
|
| Exercised |
|
|
(1,768,000 |
) |
|
|
– |
|
| Outstanding, April 30, 2014 |
|
|
57,665,600 |
|
|
|
0.18 |
|
| Issued |
|
|
15,854,308 |
|
|
|
– |
|
| Exercised |
|
|
(550,000 |
) |
|
|
– |
|
| Outstanding, April 30, 2015 |
|
|
72,969,908 |
|
|
|
0.17 |
|
| Issued |
|
|
17,000,000 |
|
|
|
– |
|
| Expired |
|
|
(5,000,000 |
) |
|
|
– |
|
| Outstanding, April 30, 2016 |
|
|
84,969,908 |
|
|
|
– |
|
| Exercisable, April 30, 2016 |
|
|
84,969,908 |
|
|
$ |
0.16 |
|
|
| Schedule of warrants outstanding and exercisable |
| Range of Exercise Prices |
|
Number of Warrant
Shares Exercisable at 04/30/2016 |
|
|
Weighted Average Remaining
Contractual Life |
|
|
Weighted Average Exercise
Price |
|
| $0.075, $0.11, $0.12, $0.18 and $0.25 |
|
|
84,969,908 |
|
|
|
2.55 |
|
|
|
0.16 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Five Year Term - $0.075 |
|
|
1,056,000 |
|
|
|
1.45 |
|
|
|
|
|
| Five Year Term - $0.12 |
|
|
35,347,508 |
|
|
|
3.17 |
|
|
|
|
|
| Five Year Term - $0.18 |
|
|
19,811,200 |
|
|
|
1.67 |
|
|
|
|
|
| Five Year Term - $0.25 |
|
|
18,755,200 |
|
|
|
1.68 |
|
|
|
|
|
| Five Year Term - $0.11 |
|
|
10,000,000 |
|
|
|
3.90 |
|
|
|
|
|
| |
|
|
84,969,908 |
|
|
|
|
|
|
|
|
|
|