6. STOCK OPTIONS AND WARRANTS (Tables)
|
3 Months Ended |
Jul. 31, 2016 |
|---|
| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
|
| Assumptions |
| |
|
Three Months Ended July 31, |
|
| |
|
2016 |
|
|
2015 |
|
| Risk-free interest rate |
|
|
1.03% |
|
|
|
– |
|
| Expected volatility |
|
|
105% |
|
|
|
– |
|
| Expected lives (years) |
|
|
5.0 |
|
|
|
– |
|
| Expected dividend yield |
|
|
0.00% |
|
|
|
– |
|
|
| Employee stock option activity |
| |
|
Options |
|
|
Weighted Average Exercise
Price |
|
|
Weighted Average Grant
Date Fair Value per Share |
|
| Outstanding, April 30, 2016 |
|
|
68,050,000 |
|
|
$ |
0.13 |
|
|
$ |
0.09 |
|
| Issued |
|
|
13,100,000 |
|
|
|
0.07 |
|
|
|
0.04 |
|
| Exercised |
|
|
– |
|
|
|
|
|
|
|
|
|
| Total Outstanding as of July 31,
2016 |
|
|
81,150,000 |
|
|
|
0.11 |
|
|
|
0.09 |
|
| Total Exercisable as of July 31,
2016 |
|
|
61,700,000 |
|
|
|
0.14 |
|
|
|
– |
|
| Total Vested and expected to vest as of
July 31, 2016 |
|
|
68,650,000 |
|
|
$ |
0.12 |
|
|
$ |
– |
|
|
| Outstanding stock options by exercise price |
| |
|
Exercise Price |
|
| Exercise Price |
|
$ |
0.19 |
|
|
$ |
0.11 |
|
|
$ |
0.18 |
|
|
$ |
0.063 |
|
|
$ |
0.069 |
|
| Number of Options Outstanding |
|
|
25,000,000 |
|
|
|
27,200,000 |
|
|
|
250,000 |
|
|
|
15,600,000 |
|
|
|
13,100,000 |
|
| Weighted Average Remaining
Contractual Life (years) of Outstanding Options |
|
|
3.42 |
|
|
|
3.67 |
|
|
|
3.97 |
|
|
|
4.67 |
|
|
|
4.75 |
|
| Weighted Average Exercise
Price |
|
$ |
0.19 |
|
|
$ |
0.11 |
|
|
$ |
0.18 |
|
|
$ |
0.063 |
|
|
$ |
0.069 |
|
| Number of Options Exercisable |
|
|
25,000,000 |
|
|
|
27,200,000 |
|
|
|
250,000 |
|
|
|
5,200,000 |
|
|
|
150,000 |
|
| Weighted Average Exercise
Price of Exercisable Options |
|
$ |
0.19 |
|
|
$ |
0.11 |
|
|
$ |
0.18 |
|
|
$ |
0.063 |
|
|
$ |
0.069 |
|
|
| Warrant activity |
| |
|
Warrants |
|
|
Weighted Average Exercise
Price |
|
| Outstanding, April 30, 2016 |
|
|
84,969,908 |
|
|
$ |
0.16 |
|
| Issued |
|
|
– |
|
|
|
– |
|
| Expired |
|
|
– |
|
|
|
– |
|
| Total Outstanding, July 31, 2016 |
|
|
84,969,908 |
|
|
|
– |
|
| Total Exercisable, July 31, 2016 |
|
|
84,969,908 |
|
|
$ |
0.16 |
|
|
| Schedule of warrants outstanding by exercise prices |
| Range of Exercise Prices |
|
Number of Warrant
Shares Exercisable at 7/31/2016 |
|
|
Weighted Average Remaining
Contractual Life |
|
|
Weighted Average Exercise
Price |
|
| $0.075, $0.11, $0.12, $0.18 and $0.25 |
|
|
84,969,908 |
|
|
|
2.30 |
|
|
$ |
0.16 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Five Year Term - $0.075 |
|
|
1,056,000 |
|
|
|
1.19 |
|
|
|
|
|
| Five Year Term - $0.12 |
|
|
35,347,508 |
|
|
|
2.91 |
|
|
|
|
|
| Five Year Term - $0.18 |
|
|
19,811,200 |
|
|
|
1.42 |
|
|
|
|
|
| Five Year Term - $0.25 |
|
|
18,755,200 |
|
|
|
1.43 |
|
|
|
|
|
| Five Year Term - $0.11 |
|
|
10,000,000 |
|
|
|
3.65 |
|
|
|
|
|
| |
|
|
84,969,908 |
|
|
|
|
|
|
|
|
|
|