Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
 3 Months Ended
Jul. 31, 2014
Jul. 31, 2013
Cash flows from operating activities:    
Net loss $ (1,584,824) $ (4,666,367)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock issued for services 297,500 1,201,608
Stock issued for compensation 86,100 0
Loss on settlement of debt 0 3,973,795
Loss on conversion of preferred stock 0 640,000
Gain on forgiveness of debt 0 (1,358,470)
Change in assets and liabilities:    
Decrease in prepaid expenses 397,973 29,547
Increase in accounts payable 16,326 965
Increase in accrued interest, related party 2,652 7,902
Increase in accrued expenses (2,541) 11,346
Net cash used in operating activities (786,814) (159,674)
Cash flows from investing activities:    
Payments towards acquisition 0 (1,568,850)
Net cash used by investing activities 0 (1,568,850)
Cash flows from financing activities:    
Proceeds from the sale of common stock 86,000 1,660,000
Proceeds from borrowings, related party 0 77,853
Repayment of debt, related party (18,717) (2,594)
Net cash provided by financing activities 67,283 1,735,259
Net increase/(decrease) in cash (719,531) 6,735
Cash at beginning of period 3,616,470 199,303
Cash at end of period 2,896,939 206,038
Supplementary non-cash disclosures:    
Cash paid for interest 0 0
Franchise and income taxes 0 0
Common stock issued for debt $ 0 $ 533,598