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RELATED PARTY TRANSACTIONS

3 Months Ended

Oct. 31, 2011

Note 2: related party transactions

Accounts payable - related parties includes the following expense reimbursements due to related parties at October 31, 2011 and April 30, 2011. Amounts due include reimbursements for D&O insurance, rent, travel, legal and cash advances for payment of other administrative expenses.

	October 31, 2011	April 31, 2011

Clinton W. Coldren, Chief Executive Officer	$123,240	$50,769
Alan G. Massara, Chief Financial Officer	$9,702	$3,418
	$132,942	$54,187

Effective June 15, 2011, the Board of Directors approved compensation to begin accruing at the rate of $10,000 per month for each of the two listed executive officers. At October 31, 2011, accrued expenses included $90,000 accrued for compensation. Beginning effective November 1, 2011, the compensation rate for Mr. Coldren will increase to $20,833 per month and for Mr. Massara will increase to $18,750 per month.