Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.5.0.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Jul. 31, 2016
Jul. 31, 2015
Cash flows from operating activities:    
Net loss $ (1,031,966) $ (1,515,038)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock issued for services 8,550 166,608
Stock issued for compensation 71,880 147,360
Stock based compensation - options 170,113 145,269
Stock based compensation - warrants 0 339,963
Change in assets and liabilities:    
Decrease in prepaid expenses and current assets 55,674 16,246
Decrease in accounts payable (24,382) (83,582)
Increase (decrease) in accrued expenses (6,797) 19,657
Decrease in license agreement obligation (150,000) (300,000)
Net cash used in operating activities (906,928) (1,063,517)
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 1,325,471 1,273,822
Net cash provided by financing activities 1,325,471 1,273,822
Effect of currency rate exchange on cash 448 159
Net increase in cash 418,991 210,464
Cash at beginning of the period 1,920,825 2,699,737
Cash at end of the period 2,339,816 2,910,201
Supplementary disclosures of cash flows information:    
Cash paid during the year for interest $ 569 $ 632