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 ($)
 6 Months Ended
Oct. 31, 2016
Oct. 31, 2015
Cash flows from operating activities:    
Net loss $ (2,006,517) $ (3,150,620)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock issued for services 38,500 333,216
Stock issued for compensation 143,760 254,040
Stock based compensation - options 340,236 287,928
Stock based compensation - warrants 0 679,930
Change in assets and liabilities:    
Increase (decrease) in prepaid expenses and current assets 59,396 (80,500)
Decrease in accounts payable (35,113) (69,491)
Increase (decrease) in accrued expenses (3,536) 29,130
Decrease in license agreement obligation (150,000) (400,000)
Net cash used in operating activities (1,613,274) (2,116,367)
Cash flows from investing activities:    
Net cash provided by (used in) investing activities 0 0
Cash flows from financing activities:    
Proceeds from sale of common stock 1,243,221 1,728,935
Net cash provided by financing activities 1,243,221 1,728,935
Effect of currency rate exchange on cash 838 125
Net decrease in cash (369,215) (387,307)
Cash at beginning of the period 1,920,825 2,699,737
Cash at end of the period 1,551,610 2,312,430
Supplemental disclosures of cash flows information:    
Cash paid during the period for interest $ 925 $ 826