15. DERIVATIVE LIABILITY (Tables)

12 Months Ended

Apr. 30, 2015

Years Ended April 30,

2015

2014

2013

Risk-free interest rate

143

–

Expected dividend yield

–

Expected lives

–

Expected volatility

142

–

Number of warrants classified as liability

3,487,271

–

Loss on warrant liability

492,049

–

Beginning balance as of March 23, 2015	$	–
Change in unrealized loss		492,049
Ending balance as of April 30, 2015	$	492,049