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RELATED PARTY TRANSACTIONS
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6 Months Ended |
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Oct. 31, 2012
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| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS |
RELATED PARTY TRANSACTIONS
During the period ended October 31, 2012 and the year ended April 30, 2012 a shareholder loaned the Company a total of $368,058 and $337,408, respectively for operating expenses. All loans bear interest at 6% and are due within one to three years.
As of October 31, 2012 and April 30, 2012, the Company owed a Director and shareholder $22,700; the loan accrues interest at 8% and is due on demand.
As of October 31, 2012, Dr. Robert Ryan, CEO, loaned the Company $210,315, at 8% interest, to provide for payment of operating expenses.
During the year ended April 30, 2012 three shareholders advanced $600,000 to the company. These funds were repaid with the issuance of 9,250,000 shares of common stock and an additional 1,650,000 shares as an incentive for making the advances.
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