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RELATED PARTY TRANSACTIONS
 6 Months Ended
Oct. 31, 2021
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 9: RELATED PARTY TRANSACTIONS

 

In support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attain adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by officers, directors, or shareholders. Amounts represent advances, amounts paid in satisfaction of liabilities, or accrued compensation that has been deferred. The advances are considered temporary in nature and have not been formalized by a promissory note.

 

Amounts due to related parties were $1,210,805 and $1,283,464 as of October 31, 2021 and April 30, 2021, respectively, which represented unpaid salaries, bonuses and reimbursable expenses due to officers of the Company.

 

The Company had outstanding notes payable of zero and $6,220,000 and accrued interest of $821,925 and $747,636 due to a related party as of October 31, 2021 and April 30, 2021, respectively (see Note 5).

 

The Company recognized net sales of $240,314 and $304,209 during the six months ended October 31, 2021 and 2020, respectively, to a related party. As of October 31, 2021 and April 30, 2021 the related party had outstanding accounts receivable of $30,315 and $86,956, respectively.